Pakistan Urges Increased Concessional Financing for Renewable Energy at IRENA Assembly in Abu Dhabi
At the International Renewable Energy Agency assembly in Abu Dhabi, Pakistan's climate change aide urged for increased concessional financing to support developing countries' renewable energy efforts. With over 18 gigawatts of solar capacity, Pakistan emphasizes the need for affordable loans and technical support to ensure climate justice, while advocating for the recognition of energy storage and green hydrogen as global public goods. However, recent domestic policy changes regarding net metering may hinder solar investment, highlighting the need for stable incentives to facilitate the clean energy transition.
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Pakistan's prime minister's aide on climate change has called for increased concessional financing for developing countries during the International Renewable Energy Agency assembly in Abu Dhabi. Pakistan is rapidly growing as a solar market with over 18 gigawatts of capacity and renewables supplying more than half of its electricity last year.
The country emphasizes that affordable loans and technical support are essential for climate justice. Additionally, Pakistan advocates for recognizing technologies like energy storage and green hydrogen as global public goods.
However, domestic policies are creating uncertainty for solar investors, with recent changes in net metering rules potentially discouraging further investment. To support the clean energy transition, Pakistan needs to implement stable incentives for solar users while continuing to seek international support.
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