Scaling up of solar and wind energy to support domestic demand on cards – Geingob
Namibia will support the phasing out of coal in the region by significantly scaling up solar and wind energy to support domestic demand, the President, Dr Hage Geingob said in a statement at the high-level segment of the COP 26 on Tuesday.
Geingob in a statement he delivered said this will be achieved while working with its neighbours to responsibly phase out existing coal generation in the Southern African Power Pool and transform the region’s energy map,
“This is the single most important step to keeping the Paris Agreement’s 1.5 degree Celsius target alive,” he said.
Geingob said in support for scaling up climate finance, Namibia calls for the US$100 billion targets for climate finance needs to be surpassed as a target, with a clear roadmap on how the committed amounts will be delivered.
“We urge for an increased volume of grants, rather than loans, to make it possible for emerging economies carrying high debt burdens to kickstart transformative projects,” he added.
According to Geingob, Namibia has amplified its 2015 pledge in the Nationally Determined Contributions and now aspires to reduce its emissions by 91% before the end of this decade.
“The estimated investment required to achieve this target is approximately US$5.3 billion, 10% of which is unconditional, he said, adding that these ambitions are matched by the highest levels of political commitment.