As result of the twenty-first Conference of Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCC), the Paris Agreement signed in 2016, and afterwards 198 countries have developed national climate policies by 2018.
Under the Paris Agreement, the Parties aimed to limit global average temperature increase to 1.5oC by 2030, but the Green Climate Fund (GCF) presented that it has already reached 1oC by the end of 2018. The consequence shows that countries need to take substantial measures against climate change.
Four of the 10 world’s largest economies are located in Asia, also accounting for 25 percent of the world population, while only northeast Asia uses 30 percent of the world's energy consumption and emits about 40 percent of the greenhouse gas emissions. Further, growth of energy demand in this region triggering climate change issue induced by the energy sector. Therefore, regional energy cooperation in northeast Asia will play a key role in dealing with emerging situation.
Mongolia can become one of the major producers of solar and wind energy through establishing the Northeast Asian Super Grid. Southern Gobi region of Mongolia has tremendous solar and wind energy resources and there is great potential to produce 13,000TWh of electricity per year according to feasibility study.
Based on feasibility study, "Strategy for Northeast Asia Power System Interconnection" initiated by 2017 with support of the Asian Development Bank, the Northeast Asian Super Grid is technically and financially feasible to establish from 2026.
Under this condition, 5 to 7 billion dollars’ investment will be enabled as of 2026, 5 GW wind power generations will be commissioned by 2031 and 10 GW by 2036, and its installed capacity able to reach 100 GW in the future. In that, acceleration and implementation of the Northeast Asian Super Grid Initiative will play an important role in reducing the negative environmental impacts of the energy industry and mitigating global warming. Besides, the Northeast Asia could share significant growth of global renewable energy market in the future.
Since 2010, Mongolian state leaders have been expressed their willingness during their official visits to the Northeast Asian countries to cooperate on the Initiative for Northeast Asian Super Grid and proposed to be one of the major producers. Regarding this, Intergovernmental meetings have been facilitated and the Memorandum of Understandings have signed.
Energy Saving is one of the highlights of the Summit which is a key measure to implement the Paris Agreement also, one of the main solutions to reducing negative impacts of energy sector on environment in Northeast Asia.
Therefore, organizing the "International New Energy Summit" within the framework of establishment of the Northeast Asian Super Grid and Energy Saving, which will foster Mongolia’s initiative to develop regional energy cooperation as well as would be a significant contribution to implement the Paris Agreement to reduce the environmental impact of energy industry.