COVID-19 Crisis Reveals Importance of Diversifying Energy Supply – Diplomat
Rabat – The current COVID-19 crisis reveals the importance of ending dependence on fossil fuels and diversifying the energy supply sources as is the case of Morocco, said Morocco’s Permanent Representative to the United Nations, ambassador Omar Hilale.
The current crisis “reveals the importance of ending dependence on fossil fuels and diversifying the sources of energy sources as is the case of Morocco,” Hilale said in an interview with French-African public affairs and alternative diplomacy agency, “MGH Partners.”
Under “the Instructions of HM King Mohammed VI, Morocco has stepped up its ambitions for renewable energy and decided to increase the share of clean energy in the electricity mix to 42% by 2021. A share that should reach 52% by 2030.”
In that regard, the Moroccan diplomat pointed out that the COVID-19 crisis is opening opportunities in terms of the energy transition for both developed and developing countries.
When the pandemic hit a very large number of countries, the stalemate of the global economy led to a drop in energy demand and even a challenge to store excess unsold oil, Hilale said, adding that this situation is likely to reduce the oil industry’s ability to manage its future production.
Global economies must seize this opportunity by capitalizing on low-interest rates to spur innovation in renewable energy technologies, and take advantage of falling oil prices, he added, stressing the importance of the energy transition for human development and post-COVID-19 economic recovery.
Morocco’s ambassador also highlighted the importance of the green energy transition, arguing that the shift to greener energy and more efficient systems is rather an urgency than a choice for investors and governments.
The diplomat recalled Morocco’s efforts in the area of renewable energy, stressing that the Kingdom held the 2016 United Nations Climate Change Conference (COP 22), which was dedicated to action especially for the African continent and the least developed countries.