Within COP28, today, the Minister of Environment and Physical Planning Kaja Shukova and the Minister of Economy Kreshnik Bekteshi were part of the event where the investment platform for the just energy transition of North Macedonia was presented, a partnership agreement was signed with the European Bank for Reconstruction and Development, the World Investment Bank, the European Development Bank, the German Development Bank KFW, the Climate Investment Fund and other international financial institutions as part of the NDC Partnership committed to the ambitious implementation of Nationally Determined Contributions under the Paris Agreement and Sustainable Development Goals by 2030.
The investment platform was created on the basis of the Long-term strategy for climate action towards the implementation of ambitious policies and intermediate (reduction of net greenhouse gas emissions by 82% by 2030 compared to 1990 levels) and long-term climate goals and represents basis for mobilizing the necessary funds, while ensuring a just green transition that protects vulnerable communities.
North Macedonia relies on coal for 40% of its electricity production. The platform will support the country’s phasing out of coal by 2030, the deployment of renewable energy and related network investments.
“With joint action, we achieve more and only through joint and partner action in implementing ambitiously set goals, a just energy transition and fulfillment of the set ambitious national goals is possible”, said Minister Shukova in the closing speech of the event.