A report released ahead of the COP28 climate summit in Dubai emphasizes the urgent need to triple the world's renewable energy capacity by 2030. According to the report, this step is crucial in order to limit global warming to 1.5 degrees Celsius.

The report, jointly written by the COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance, was unveiled at a meeting in Abu Dhabi that laid the groundwork for upcoming climate negotiations, set to open next month.

Currently, the world has a renewable generation capacity of 3,372 gigawatts (GW), as reported by IRENA. To meet the ambitious goal of tripling this capacity to 11,000 GW by the end of the decade, significant efforts are required.

This call for action aligns with a similar recommendation made by the International Energy Agency back in July. The agency stressed that tripling clean energy capacity is vital to keep the 1.5-degree Celsius goal within reach. Furthermore, in September, the Group of 20 leaders pledged to triple the deployment of renewables within seven years.

Sultan Al Jaber, the COP28 president, highlights that tripling renewable power generation deployment and doubling energy efficiency are crucial levers in reducing greenhouse gas emissions. He urges all parties to unite, commit to common targets, and take comprehensive domestic and international action to turn ambitions into reality.

To guide stakeholders on achieving these renewable targets, the report draws extensively on IRENA's World Energy Transitions Outlook published earlier this year. It identifies key enablers such as infrastructure and system operation, policy and regulation, supply chains, skills and capacities, finance, and international collaboration.

COP28 is scheduled to take place from November 30 to December 12.

New Labor Deal Reached between UAW and GM

Revvity Stock Drops After Missing Earnings Estimates

Leave A Reply

Your email address will not be published. Required fields are marked *