UNEP hails China's leadership in renewable energy investment

NAIROBI -- China is showing global environmental leadership in the adaptation of renewable energy strategies and investments, which will help other developing countries to embrace sustainable development at a lower cost, Executive Director of the United Nations Environment Programme (UNEP) Achim Steiner said on Friday.

Steiner said a new report compiled by the Nairobi-based UN body showed remarkable worldwide investments in renewable energy.

"Renewable energy is becoming part of the energy infrastructure around the globe, especially in the developing world," Steiner told Xinhua ahead of a Summit of environment Ministers from Brazil, Russia, China, India and South Africa (BRICS) to discuss sustainable development.

"China is investing in renewable energy. They have reduced the price of renewable energy technologies. India has also announced plans for 10,000 megawatts of renewable energy. This shows renewable energy will become a central player in economic transformation within the BRICS economies," Steiner explained in an exclusive interview.

The environment ministers from the BRICS economies are set to meet from April 22 in Russia to discuss how the world's fastest developing countries could transform their economies.

These countries are using "green energy initiatives" to avoid pollution caused by industrial growth driven by growing consumer demand.

Statistics show that the developing countries' investment into green energy in 2014 jumped to 131.3 billion U.S. dollars with China taking the lead.

Steiner said the UNEP, created in 1972 to provide the "best possible scientific analysis" on how to "use science for effective policy-making", was now more focused on the future of the global economy and how it could avoid worsening the risks caused by faster industrial development.

"UNEP is talking about opportunities for the use of science to solve emerging challenges. There are opportunities. We know, for example, that 700 million people in Africa still need electricity. We know that global demand for energy will affect the global energy markets," Steiner said.

He said the ministerial meeting in Russia would focus on how effective policies could be arrived at to ensure that economic development helps to reduce poverty.

"UNEP considers BRICS as the key to innovation," Steiner said, referring to the need for innovative financing mechanisms to address the energy challenges facing cities.

The BRICS ministerial meeting is expected to lay the foundation for further discussions on the Chinese-backed Asian Infrastructure Investment Bank, which UNEP said would provide the first ever reliable means to finance initiatives to address sustainable financing for economic growth.

"We need more green finance and the Asian Bank plans to mobilize finance from China. We hope this will provide the funding for Climate change," Steiner said.