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Business Iceland
Business Iceland
27. September 2021

Iceland participated in UN high-level dialog on energy

Iceland participated in UN high-level dialog on energy
Iceland was a global champion for just and inclusive energy transitions at the UN High-Level Dialogue on Energy.

Iceland is a Global Champion at the UN High-Level Dialogue on Energy, advocating a just and inclusive energy transition.

UN Secretary-General António Guterres convened the High-level Dialogue on Energy at the summit level upon the request of the General Assembly on 22-24 September. It was a historic opportunity to accelerate action on clean, affordable energy for all (SDG7). It was the first gathering of leaders in more than 40 years at the UN solely devoted to energy issues.

The High-level Dialogue on Energy 2021 had two main goals: one, establish a global roadmap with recommended actions and milestones to accelerate the achievement of SDG7 by 2030. These investments in SDG 7 aim to empower billions of people and help them realize the transformational benefits of achieving the Sustainable Development Goals. It addresses the climate crisis and strengthens resilience, especially among the most vulnerable. Secondly, establish voluntary commitments from the Member States and other stakeholders in the form of "Energy Compacts." The compacts set out clear actions to advance clean, affordable energy for all by 2030 and net-zero emissions by 2050. Over 130 national and local governments, businesses, international organizations, NGOs, youth networks, and others submitted Energy Compacts.

WHAT ARE ENERGY COMPACTS?

Energy Compacts are voluntary commitments from the UN Member States and other stakeholders, such as companies, regional and local governments, and NGOs. They outline specific actions taken to advance progress on SDG7 and net-zero emissions. The Energy Compacts are designed to align with SDG Acceleration Actions and Nationally Determined Contributions under the Paris Agreement.

Breakdown of Iceland's Energy Compact

Domestically, Iceland aims to:

  • Become independent from fossil fuels at the latest by 2050 and carbon neutral by 2040. Renewable energy in transport will be at least 40% by 2030.
  • Take measures to improve energy efficiency and minimize energy waste.
  • Meet all energy needs of the country securely for the near and distant future.

Iceland's international goals:

  • Increase climate-related financing by focusing on the transition to sustainable energy.
  • Support countries in increasing the share of renewable energy and transitioning to the circular economy through direct multiple energy uses, including food production.
  • Advance gender equality in the just transition to sustainable energy, including through technical training.

Does Iceland endorse other Energy Compacts?

  • Yes, Iceland also proudly joins the Gender Equality Energy Compact and the 24/7 Carbon-free Energy Compact, and we also hope to see a Geothermal Energy Compact.

"In recovering from the pandemic, we cannot revert to business as usual. We need to do better, and build a greener, bluer, and more equitable and sustainable future."
— Guðlaugur Þór Þórðarson, Foreign Minister for Iceland. 

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