First Published: 2013-01-15

 

Hollande calls for more renewable energy spending

 

French President warns failure to invest in developing renewable energy will increase demand for fossil energy, risks of global warming.

 

Middle East Online

$300 billion of investments in sustainable renewable energy are needed this year

ABU DHABI - French President Francois Hollande called on Tuesday for pumping more investments in renewable energy projects to prepare for the post-oil era and to avoid global warming.

"If we don't spend ... we will have a catastrophe," Hollande told the opening session of the World Future Energy Summit (WEFS) in Abu Dhabi.

Failure to spend in developing renewable energy will increase demand for fossil energy and "make its prices unaffordable," besides increasing risks of global warming, he said.

Organisers of the three-day summit, which is held simultaneously with the first International Water Summit, say that around $257 billion were spent on renewable energy projects around the world in 2011.

Hollande said it is estimated that $300 billion of investments in sustainable renewable energy are needed this year but the requirement comes during the times of economic crises.

He called for all countries to contribute and proposed establishing joint funds between oil producing and consuming countries for the purpose.

"France wants to make the transition in energy resources a national, European and global cause," Hollande said.

The Abu Dhabi-based International Renewable Energy Agency (IRENA) on Monday launched a new global roadmap to consolidate efforts to double clean energy by 2030 but warned the process must be accelerated substantially to achieve the target.

"International efforts to double the share of renewable energy by 2030 are attainable but need to accelerate substantially if they are to be successful," IRENA said.

The target aims to raise the share of clean renewable energy sources such as solar, wind and biomass to around 30 percent of global energy mix from around 16 percent currently.

"Based on estimates, by 2030, the renewable energy share will rise to just 21 percent, thus we will have a nine-percent gap," IRENA Director General Adnan Amin told the closing session of the meeting.

A large number of experts and officials will be discussing issues related to sustainable renewable energy and the scracity of water resources especially in the Middle East throughout the meetings.

 

Saudi second Crown Prince: We must protect our youth from ‘forces of darkness’

Huthi rebels hold key Sanaa offices after hard-won peace deal

UN hopes to convene Libya political dialogue next week

Palestinians intensive diplomatic campaign on three fronts

Qatar ‘will not host’ 2022 World Cup: Blame it on temperatures!

World leaders confront crises on many fronts at UN

Kurds slow jihadist advance on key border town in northern Syria

Mossad launches new website to recruit potential spooks

Australia to join US-led air campaign in Iraq

Freed to be rearrested: Palestinian prisoners plan hunger strike

Lebanon describes abuse of Syria detainees as ‘isolated incident’

Abadi opposes foreign ground intervention in Iraq

Algeria army eliminates ‘terrorist chief’ in Kabylie region

Better safe than sorry: EU boosts security after jihadist threat

Iran conducts arrests over ‘SMS Khomeini insults’

Rouhani: Iran cornerstone of stability in Mideast

4 Saudis sentenced to death in 'bloodiest terror' cell

Australia’s Howard 'embarrassed' US intel on Iraq WMD unfounded

IS urges Muslims to kill citizens from US-led coalition

Over 130,000 Syrian Kurds flee to Turkey

South Sudan peace talks resume in Ethiopia

Iraq loses communication with soldiers near Fallujah

Rival Yemen groups sign UN-brokered deal

US discusses IS militant threat with arch-foe Iran

Turkey's PKK urges fellow Kurds to fight IS jihadists in Syria

UN warns over 'forcible transfer' of Palestinian Bedouin

Syria denies use of chlorine chemicals

Court verdict paves way for release of activist Mahienour el-Massry

IS fighters lay siege to Syria Kurdish town of Ain al-Arab

Huthi seditious plans come out in open: Capture of government HQ in Sanaa

Israel steps up cyber-defense with new national body

Egypt military aircraft crashes after technical failure

Erdogan confesses: Turkey held ‘diplomatic negotiations’ with Islamic State

Pope denounces Islamic State: Religion cannot be used to justify violence!

Solution according to Huthis: Deal in Saada and battles in Sanaa

Bloody attack strikes outside Egypt Foreign Ministry in Cairo

Mediators denounce ‘senseless fighting’ in South Sudan

Tunisia jihadist group offers backing to Islamic State

US Secretary of State sees role for Iran in war against Islamic State

Kurds cross from Turkey to fight Islamic State in Syria

Yemen suspends flights for second day as truce talks collapse

Turkey loses only excuse for appeasement with Islamic State

Marzouki seeks to stay as Tunisia President

Neighbourhood in Iraq’s Dhuluiyah stands against jihadists

British photographer Cantlie twice held hostage by IS