Islamabad:Experts gathered at the launch of the study “Energy Security in South Asia: A Case of Transitioning to Sustainable Sources” emphasized the need for collaborative efforts to address energy challenges in South Asia through regional cooperation. The study, jointly prepared by the Sustainable Development Policy Institute (SDPI) and the Friedrich Naumann Foundation (FNF), highlights the urgent need for sustainable energy policies in the region.
Birgit Lamm, Country Head of FNF, stressed the importance of diversifying energy sources, increasing efficiency, and reducing dependency on the global market for fuel. Ubaid ur Rehman Zia, Head of Energy Unit at SDPI, noted that South Asia is highly susceptible to climate change and has limited connectivity between countries, despite its vast potential.
The study recommends structural economic adjustments, decoupling economic growth from environmental impact, and addressing the lack of supporting policies and technology investments. It also highlights the need for drafting extensive SOPs for Cross-Border Electricity Trade (CBET) and setting up regional and country-wide master plans.
Experts from Sri Lanka, India, and Pakistan discussed their countries’ reliance on fossil fuels and ambitious targets for renewable energy. They emphasized the importance of assessing the environmental impact of renewable energy and ensuring fair pricing in energy cooperation.
The study suggests an integrated and collaborative regional approach to tackle emerging challenges like climate change-induced adversities, integration of renewable energy, and trade tariffs. It proposes re-orienting the South Asian Association for Regional Cooperation (SAARC) on the agenda of climate change and renaming it to South Asia’s Resilience for Climate Change (SARCC).
The experts called for regional carbon markets, regional clean energy platforms, and innovative regional financial mechanisms to address the energy challenges in South Asia.
