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The Global Energy Prize annually honors outstanding achievements in energy research and technology from around the world that are helping address the world’s various and pressing energy challenges.

The new energy paradigm is the key to the economic competitiveness of states

The new energy paradigm requires technological innovation and creative political leadership that could advance economic reform, convinced member of the Global Energy Prize International Award Committee, Advisor to the Chairman of the Group of Leaders and Experts on Water and Natural Disasters, Rae Kwon Chung. This position he expressed today in the framework of the 10th Economic Forum in Astana. He was speaking at a round table and at plenary meeting with the participation of the President of the Kazakhstan Republic Nursultan Nazarbayev. The expert also noted that the new energy paradigm is not only an attempt to save humanity from a global environmental catastrophe, but also a key to the economic competitiveness of states.

According to Rae Kwon Chung, the main task facing humanity at the moment is to make the transition to a new energy paradigm: energy derived from environmentally friendly sources and low-carbon energy that will catalyze the new economy of the fourth industrial revolution. This requires technological innovation and competent political leadership, with mandatory changes in approaches to current economic policies. The reorientation from short-term economic profit to long-term economic growth directly depends on the political will of the leaders of states. Therefore, the key role in this is played by the public sector. "Moving to long-term profit and redesigning our physical infrastructures cannot be left to the market mechanism. He by definition operates, mainly, on short-term profit. The public sector will have to overcome the time interval between short-term profits and long-term goals, "Rae Kwon Chung stressed.

Among the steps, which are necessary to shift the paradigm towards a new energy and new economy, the scientist highlighted the need to invest in the income from the export of fossil fuels to energy derived from environmentally friendly sources, and to strengthen energy norms and standards of energy efficiency. An increase in the tax on fossil fuels, support for the development of energy-saving technologies and eco-cities, as well as the possible unification of the power systems of different countries through the construction of an ultra-high voltage electric network (the project of the Asian super ring) are also necessary for the sustainability of the energy future.

Let us remind that the Astana Economic Forum is an annual platform that facilitates the transfer of knowledge and speeds up the process of making strategic decisions necessary to form a new approach to the criteria for the effectiveness of world economic practice and the growing world energy problems. The theme of the 2017 Forum is "New energy - new economy". At the event, leading scientists, politicians and experts in the field discuss the best ideas, best practices and innovations in the field of introducing clean energy.

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