London, March 21, GNA – The International Hydropower Association (IHA) has launched a new campaign calling for urgent investment in hydropower to combat climate change, accelerate progress towards net zero and strengthen energy security.
It will coincide with World Water Day, observed annually by the UN on March 22, which highlights the importance of fresh water and raises awareness of the two billion people around the world living without access to safe water.
The campaign is also being launched just before the International Energy Agency (IEA) 2022 Ministerial Meeting, which takes place in Paris on March 23 and 24, bringing together energy and climate ministers at a critical time for the global economy and energy markets in the wake of the war in Ukraine.
Industry experts are saying that this could out turn to be the biggest supply crisis in decades, as the invasion brings energy security back to the forefront of political agendas with a surge in commodity prices.
While it is still too early to know how events might unfold, the crisis may result in lasting changes to energy markets, according to the IEA.
At COP26, the UN climate change conference, held in Glasgow at the end of last year, world leaders committed to “phase down coal” and accelerate the shift towards renewables.
While the Glasgow Climate Pact was agreed on, the UK-based IHA said governments had not made sufficient progress in planning for the transition.
It is calling for commitment to be translated now into policies, investments and tangible action ahead of COP27 in Egypt this November.
The IHA said that the new campaign would “shine a light on hydropower’s benefits and advance solutions for building a sustainable and secure energy future”.
Eddie Rich, IHA Chief Executive, said: “We cannot afford any more delays in taking action to shift away from fossil fuels like coal.
“With hydropower, we have a proven, clean technology that can supercharge the deployment of renewable energy systems and set us on the pathway towards net zero.
“By combining the strengths of wind, solar and hydropower, we can rapidly reduce our reliance on fossil fuels and bring stability and security to energy grids.
“Wind and solar energy can be stored in water, and then released quickly whenever we need it,” he added.
“Hydropower generates electricity all year round and has low running costs, providing affordable energy for communities over the long term.
“But projects can take up to a decade to build and require significant upfront investment.
“If we do not act now, then we will miss our opportunity to set a realistic course for net zero by 2050,” said Mr Rich.
Writing on the issue for Hydropower.org, Erik Solheim, a former UN diplomat and Norwegian Minister of Environment and International Development, argued that the energy transition had gained new urgency due to heightened energy insecurity.
“The solution to both lies in an ‘all of the above’ approach to clean energy development,” he said.
A coalition of organisations and associations around the world are participating in the campaign, which will run under the slogan: “We can, with hydropower”.
The IHA said the campaign “highlights how a pathway to net zero and greater energy resilience is possible by harnessing sustainable hydropower as a complement to variable renewables such as wind and solar”.
The campaign is supported by a coalition of developers, operators, manufacturers and industry associations around the world.
GNA