“The Assembly also endorsed the initiatives of the ISA Secretariat to institutionalize ISA’s engagement with private and public sector business through the Coalition for Sustainable Climate Action (CSCA). Ten public sector organizations in India presented a check for USD 1 million each to the assembly, ”the statement added.
The ISA framework agreement was opened for signature during the Conference of the Parties (COP 22) in Marrakech. The idea of a solar alliance of countries that receive sun for around 300 days a year was brought up by Prime Minister Narendra Modi. Other leading intergovernmental organizations in the energy sector include the Organization of the Petroleum Exporting Countries (Opec), headquartered in Vienna, and the International Energy Agency (IEA), based in Vienna. Paris.
ISA has 70 member countries and 20 more countries are in the process of becoming members. It holds its third assembly practically from October 14 to 16, which was attended by 53 member countries on Wednesday.
“The Co-President of the Assembly Ms. Barbara Pompili, French Minister for the Ecological Transition stressed that the ISA played an essential role in helping to redirect funding towards renewable energies, especially in developing countries, and meet the challenge of ‘energy at the service of all,’ the statement read.
Membership in the ISA was previously limited to 121 countries, which were partially or entirely located in the tropics. This membership was then expanded to include all 193 members of the United Nations.
ISA is also working on the roadmap to mobilize $ 1 trillion by 2030 to fund 1000 GW solar capacity by 2030.
“The roadmap will examine ways to harness opportunities in a post-COVID world to better rebuild and the role of international cooperation in bringing solar energy to investment scale. The roadmap will be prepared over a period of 14 months and in two phases, ”ISA Director General Upendra Tripathy said in an interview with Mint.
The first phase of the roadmap was presented by the ISA secretariat at the third assembly.