BEGIN:VCALENDAR VERSION:2.0 PRODID:unctad.org BEGIN:VEVENT UID:6a737bdeac1ae DTSTART:20231203T093000Z SEQUENCE:0 TRANSP:OPAQUE DTEND:20231203T103000Z LOCATION:Dubai\, United Arab Emirates SUMMARY:Trade House event at COP28: Expanding South-South trade in low carb on technologies for development and resilience CLASS:PUBLIC DESCRIPTION:Bold actions commensurate with the urgency of the current clima te situation are needed for a successful energy transition. Most of the en ergy transition must be based on renewable sources. A record-breaking $1.3 trillion in worldwide investments in energy transition technologies was r eached in 2022.\n\nGlobal annual spending in these technologies must more than double to $5 trillion to maintain Paris Agreement target of limiting future global warming to 1.5°C. By 2030 global energy transition investme nts must reach $5.5 trillion annually over the next 8 years (IRENA\, 2023) .\n\nUNCTAD estimates that developing country investment levels must reach $1.7 trillion annually. However\, developing countries have only attracte d $544 billion in FDI for clean energy in 2022.\n\nThe magnitude of requir ed investment indicates a corresponding huge\, growing commercial market f or low carbon energy technologies that developing countries must seize as producers and exporters of renewable energy goods and services. The opport unity cost of not participating in this growing market and risks of leavin g developing countries behind is high.\n\nThis event will examine how Sout h-South Trade\, and more specifically the Global System of Trade Preferenc es among Developing countries (GSTP)\, can be harnessed to reap commercial and development benefits from the energy transition in low and zero carbo n technologies.\n\nIt will explore how the preferential South-South trade on these technologies\, inputs and upstream goods required for their manuf acture can support National Determine Contributions (NDCs) implementation by Developing countries while creating new investment\, production\, trade \, and transfer of technology opportunities.\n\nThis event will be live st reamed\n\nJoin us online\n\nProgramme\n\nModerator:\n\n\nMs. Miho Shirotor i\, Acting Director of the Division on International Trade and Commodities at UNCTAD\n\n\nKeynote:\n\n\nMs. Edel Moraes\, Vice Minister of Environme nt and Climate Change\, Brazil (tbc)\n\n\nPanellists:\n\n\nMs. Chantal Lin e Carpentier\, Head\, Trade\, Environment\, Climate Change and Sustainable Development Branch\, DITC\, UNCTAD\nMs. Elisabeth Press\, Director of Pla nning and Programme Support\, IRENA\nMs. Carolyn Deree Birkbeck\, Executiv e Director\, Forum on Trade\, Environment &\; the SDGs (TESS)\nMs. Mari a José González\, Senior adviser\, Ministry of Energy\, Uruguay\nMr. Car los Correa\, Executive Director\, South Centre\n \n\n<\;p>\;Bold acti ons commensurate with the urgency of the current climate situation are nee ded for a successful energy transition. Most of the energy transition must be based on renewable sources. A record-breaking $1.3 trillion in worldwi de investments in energy transition technologies was reached in 2022.<\; /p>\;\n\n<\;p>\;Global annual spending in these technologies must mo re than double to $5 trillion to maintain Paris Agreement target of limiti ng future global warming to 1.5°C. By 2030 global energy transition inves tments must reach $5.5 trillion annually over the next 8 years (IRENA\, 20 23).<\;/p>\;\n\n<\;p>\;UNCTAD estimates that developing country in vestment levels must reach $1.7 trillion annually. However\, developing co untries have only attracted $544 billion in FDI for clean energy in 2022.& lt\;/p>\;\n\n<\;p>\;The magnitude of required investment indicates a corresponding huge\, growing commercial market for low carbon energy tech nologies that developing countries must seize as producers and exporters o f renewable energy goods and services. The opportunity cost of not partici pating in this growing market and risks of leaving developing countries be hind is high.<\;/p>\;\n\n<\;p>\;This event will examine how South- South Trade\, and more specifically the Global System of Trade Preferences among Developing countries (GSTP)\, can be harnessed to reap commercial a nd development benefits from the energy transition in low and zero carbon technologies.<\;/p>\;\n\n<\;p>\;It will explore how the preferenti al South-South trade on these technologies\, inputs and upstream goods req uired for their manufacture can support National Determine Contributions ( NDCs) implementation by Developing countries while creating new investment \, production\, trade\, and transfer of technology opportunities.<\;/p&g t\;\n\n<\;h4 class="\;text-align-center\n\nView meeting on unctad.or g\nhttps://unctad.org/node/43217 DTSTAMP:20260805T180726Z END:VEVENT END:VCALENDAR