Establishing an Ocean Energy Platform as a Market Place to Support SIDS and Coastal Nations Deploy Ocean Energy Systems

The side event is jointly organized by the United Nations Industrial Development Organization (UNIDO), the Small Island Developing States (SIDS) Sustainable Energy and Climate Resilience Organization (SIDS DOCK), the Global Network of Regional Sustainable Energy Centers (GN-SEC), and partners such as the International Renewable Energy Agency (IRENA) and the Henry L. Stimson Centre Alliance for a Climate Resilience Earth (ACRE).

The event will discuss a first deliverable of the Ocean Energy for Blue Economies Platform (OEBEP), which facilitates south-south and triangular cooperation between Small Island Developing States (SIDS), coastal nations, academia, industry players and financiers. Ocean energy is the largest source of sustainable energy on the planet and will be the catalyst for sustainable development across SIDS.

The side event will provide SIDS and other national leaders with opportunities to share their interest in and the challenges in ocean energy which require industry, researchers, and investors to collaborate with government in solving. National Compact are proposed as the framework for cooperation in addressing deployment of ocean energy activities with the context of SIDS unique challenges. and the development of Compacts. Compacts are living document with commitment from signatories to achieve specific activity. A cohort of 20 ocean energy professionals, influencers and thought leaders are to be identified to champion formation of the platform, working in partnership with UNIDO, SIDS DOCK, IRENA, Timpson Centre and the GN-SEC regional energy centers.