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COP28: 116 countries pledge to triple their renewable energy capacity globally by 2030

2023-12-02T12:48:16.619Z

Highlights: COP28: 116 countries pledge to triple their renewable energy capacity globally by 2030. Countries also pledged to double the annual rate of energy efficiency growth until 2030, from 2% to 4%. However, these commitments are not binding. The European Union had launched an appeal to this effect in the spring, supported by the Emirati presidency of COP28 and then successively by the G7 and G20 countries (80% of global greenhouse gas emissions)."With this global goal, we are sending a very strong message to investors and financial markets. We show the direction of travel," European Commission President Ursula von der Leyen said.


Countries have pledged to increase global renewable energy capacity to 11,000 gigawatts, up from around 3400,<> gigawatts today.


A non-binding commitment to triple the world's renewable capacity by 2030 has been signed by 116 countries, the presidency of COP28, which is being held in Dubai, announced on Saturday. These countries have pledged to "work together" to increase global renewable energy capacity (wind, solar, hydropower, etc.) to 11,000 gigawatts (GW) by this horizon, from around 3400,<> GW today, taking into account the "different starting points and national circumstances" of different nations.

At the end of 2022, global capacity was 3372 GW, according to the International Renewable Energy Agency (IRENA), dominated by hydro (37%) and solar (31%). Countries also pledged to double the annual rate of energy efficiency growth until 2030, from 2% to 4%. However, these commitments are not binding. The European Union had launched an appeal to this effect in the spring, supported by the Emirati presidency of COP28 and then successively by the G7 and G20 countries (80% of global greenhouse gas emissions).

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With this global goal, we are sending a very strong message to investors and financial markets. We show the direction of travel. And it's a way for them to 'de-risk' their investments because they know that the whole world is moving towards this goal," European Commission President Ursula von der Leyen told AFP in an interview in Dubai. "There are very compelling arguments in favour of renewables, because once installed, they can produce clean, local energy. So it makes you independent and they're cheaper than fossil fuels," she said.

Source: lefigaro

All news articles on 2023-12-02

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