Palau has recently signed the statute and all it need for the country to do is ratify the agreement.
President Johnson Toribiong earlier urged the lawmakers to ratify IRENA which is a new intergovernmental agency which was officially established in Bonn, Germany on January 26, 2009. IRENA is a milestone for world renewable energy supply and a clear sign that the global energy paradigm is changing due to the accelerating commitment from governments.There have been 136 states who have signed the IRENA statute and amongst them are 45 African, 36 Asian, 14 American and mime Australia/Ocenia States.IRENA is the main driving force in promoting a rapid transition towards the widespread and sustainable use of renewable energy on a global scale.IRENA wants to be the global voice for renewable energies.The IRENA provides practical advice and support for both industrialized and developing countries to help improve frameworks and build capacity.The agency, intends to facilitate access to all relevant information, including reliable data on the potentials for renewable energy, best practices effective financial mechanisms, and state-of-the –art technological expertise.“Palau, like many other small developing island states in the Pacific, cannot afford to continue using fossil fuel for its energy source. By becoming a member of IRENA this should enable Palau to join the rest of the world in pursuing renewable energy sources. The next step for Palau is to have Olbiil Era Kelulau ratify the IRENA to begin Palau’s participation in programs and activities of IRENA,” the president in his letter to OEK.
