4th International Conference on SIDS: Transforming SIDS Economies through Energy Transition and Climate Action towards Prosperity, Resilience and Sustainable Development

Small Island Developing States (SIDS) have emerged as frontrunners in the global fight against climate change. The island states have demonstrated an unwavering commitment to the principles outlined in the Paris Agreement and the Sustainable Development Goals (SDGs). A pivotal aspect of their dedication lies in the ambitious targets set to transition towards resilient renewable energy systems, thereby reducing fossil fuel dependency, enhancing economic resilience, and addressing pressing socio-economic challenges. The realization of SIDS' renewable energy commitments hinges upon robust partnerships with financing institutions, development partners, and relevant stakeholders for providing financial assistance, technology transfer, and capacity-building support. Collaborative efforts are vital to bolstering SIDS' resilience and prosperity through energy sector transformation.

IRENA through the SIDS Lighthouses Initiative aims to convene SIDS representatives, development partners, regional and multilateral organizations, financing institutions, and other stakeholders. Through strategic deliberations, the event seeks to identify innovative financing mechanisms, facilitate technology transfer, and outline capacity-building initiatives crucial for SIDS to achieve their renewable energy commitments.

Furthermore, the key discussion points during the side event will take into consideration the following aspects:

  • Exploring innovative financing mechanisms tailored to the unique challenges faced by SIDS.
  • Facilitating technology transfer and knowledge sharing to accelerate renewable energy adoption.
  • Identifying capacity-building needs and strategies to enhance SIDS' resilience and expertise in renewable energy development.
  • Fostering partnerships and collaborations to mobilize resources and support SIDS' energy transition efforts.

The expected outcomes of the side event will gauge how the SIDS Lighthouses Initiative and similar SIDS focussed initiatives can facilitate:

  • Enhanced understanding of the financing landscape and available mechanisms for supporting SIDS' renewable energy projects.
  • Concrete strategies and action plans for facilitating technology transfer and capacity-building initiatives in SIDS.
  • Strengthened partnerships and commitments towards advancing renewable energy transformation in SIDS.
  • A roadmap for continued collaboration and support to ensure the realization of SIDS' renewable energy commitments.