Current Affairs 2021: Objectives of Fourth Assembly of International Solar Alliance

By Teresa Dhar

International Solar Alliance was the novel Idea of Narendra Modi and Francois Hollande. The other leaders followed the suit and now it has 124 members. Read further for details

The International Solar Alliance (ISA) initiative was proclaimed by the Hon’ble Prime Minister of India, Shri Narendra Modi and former Hon’ble President of France, Mr. Francois Hollande, at the COP-21, i.e., 21st United Nations Climate Change Conference of the Parties held in Paris, France on 30th November 2015. The purpose of ISA (which is an inter-governmental institution), is to produce a global market arrangement to make use of the efficacy of solar power and encourage cleaner, greener use of renewable energy as part of UN Sustainable Development Goals.

Fourth Assembly of International Solar Alliance

The 4th General Assembly of the International Solar Alliance (ISA) which began on 18th October 2021, came to an end on 21st October 2021. It was a virtual conference, presided by Shri R.K. Singh, Union Minister of India for Power, New and Renewable Energy. There was participation from 108 countries and organisations. The gathering saw eminent personalities like John Kerry (U.S Special Presidential Envoy for Climate) who delivered the keynote address while Frans Timmermans (European Commission Executive Vice President for the European Green Deal) addressed the Assembly on October 20th.  At present, 124 UN member states are part of the ISA.

Objectives of Fourth Assembly of International Solar Alliance/ What has been done so far?

The 4th General Assembly of the International Solar Alliance (ISA) laid out the road map for the next five years – the strategy that would be adopted in making a clean power transition has been focused on immensely in the Assembly. The evolution of solar panel technology and expansion of access to solar energy generating instruments worldwide was an important agenda discussed at the conference. Implementation of ventures like working in collaboration with other UN organizations like the UN Environment Program (UNEP) was also deliberated upon.

It sanctioned the plan to marshal one trillion dollar globally in solar investments by 2030 which would also involve a blended finance model for risk mitigation i.e., a stimulant capital from generally government/public sector to augment private sector financing of sustainable development and tackling climate change. The Assembly approved the “One Sun” partisan declaration for the inauguration of Green Grids Initiative- India’s One Sun One World One Grid (GGI-OSOWOG) at COP26.

The GGI - OSOWOG was floated by Prime Minister Narendra Modi and UK Prime Minister, Boris Johnson. It entailed merging international grids of every continent for generating a tremendous amount of solar and wind energy, linking solar and wind energy-endowed destinations like coastal areas and deserts. The same was announced at the COP26. The initiative synthesizes extensive solar power stations, hydroelectric projects, wind farms etc., to guarantee a cleaner, greener and inexpensive energy supply for the regions (especially in village areas) which would also help the nations realize their carbon emission reduction mission.

ISA also sought to work in concert with Global Energy Alliance for People and Planet and Bloomberg Philanthropies to bolster practical and mobilize fiscal support (to be more precise, attain the global 1 trillion dollar goal) to least developed countries (LDCs) and Small Island Developing States (SIDS). In a joint effort with the World Resources Institute (WRI), the ISA and the above mentioned two organizations conceptualised a Solar Investment Action Agenda and a Solar Investment Roadmap which was accordingly exhibited at COP26. ISA debuted new programmes on solar PV panels & battery usage management, green hydrogen & waste and solar hydrogen programmes. This is highly beneficial in terms of cutting down on toxic waste, reducing expenditure on waste treatment and better management of toxic waste despite lack of waste specific enactments. Viability Gap Financing scheme (which allows funding to sustain projects that are economically justified but unfeasible) has been considered to enable inexpensive financing of solar energy projects for ISA’s members. This will also assist in prompting private sector engagement in such projects.