New technologies and sustainable development

Company News    Jul 19, 2021 2:57 PM

Irena’s Francesco La Camera talked discussed the role of new technologies in the sustainable development of the economy.

Francesco La Camera, CEO of Irena, said that government recovery funds can help leverage energy transformation investments, Valora Analitik reported.

“We are talking from the electricity scale and also from the expenditure side. Our report shows that the share of renewable energy in the near term is high,” Camera said.

The expert said that 62% of energy generation has a lower cost than the cheapest fossil fuel option.

He highlighted that Colombia is the country in the region that is leading the deployment of renewables with close to 3,000MW of solar and wind energy projects.

“Colombia and the world’s energy sector are on the right track, but if we want to be on track to reduce 1.5 degrees Celsius, we have to transform the energy sector and decarbonize it, as well as the transportation industry,” La Camera said.

La Camera explained that the world needs investments of around US$6T to achieve climate change goals.

“All of that is going to materialize if there are good policies to pull that transformation. This is not a total replacement, but the creation of a new system,” La Camera said.

He said that labor policies are needed to create a better workforce of the future, as well as social protection for workers and new career development.

“Countries need to adopt these strategies and guarantee that communities are involved in this process,” La Camera concluded.

Bottom-Line: Colombia is doing the right things to boost the development of renewable energy, creating policies and conditions to attract investors.

The country has enormous potential, but including communities and expediting environmental licensing will be fundamental to advancing the goals.

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