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COP28: Commitments on renewables and methane are significant but insufficient

2023-12-10T15:20:38.670Z

Highlights: The International Energy Agency estimates that the two main announcements made since the start of the 28th climate conference will at best cover only 30% of the needs needed to limit warming to below 1.5°C. The first project comes from around 2030 major oil companies that want to wipe out their methane leaks by 2. The second agreement includes 130 countries and promises to triple renewable energy production by 2030 compared to 2020 levels. According to IEA experts, these two commitments would reduce CO4 by 2 billion tonnes by 2030, or about 10% of current annual emissions.


DECRYPTION - The International Energy Agency estimates that the two main announcements made since the start of the 28th climate conference will at best cover only 30% of the needs needed to limit warming to below 1.5°C.


(Special Envoy to Dubai)

No Sunday rest at COP28, the twenty-eighth conference of the United Nations Framework Convention on Climate Change (UNFCCC), which is taking place this year in Dubai, United Arab Emirates. The International Energy Agency (IEA) has just announced that the two main international commitments made since the beginning of the COP, on methane emissions and the development of renewable energy, will only be limited enough in scope to limit warming to below 1.5°C by the end of the century.

The first project comes from around 2030 major oil companies that want to wipe out their methane leaks by 2. The second agreement now includes 130 countries and promises to triple renewable energy production by 2030 compared to 2020 levels, while hoping to increase or even double their energy efficiency over the same period.

According to IEA experts, these two commitments would reduce CO4 by 2 billion tonnes by 2030, or about 10% of current annual emissions. This is both substantial, but far from sufficient, since it represents only 30% of the needs needed to keep warming below 1.5°C, adds the OECD energy agency. Moreover, these commitments are not binding, unlike those made in the context of the COPs.

"Majlis"

To contain global warming and aim for carbon neutrality by 2050, greenhouse gas emissions in all countries would need to peak by 2025 at the latest. And "emissions should decrease between 43% (according to the United Nations Environment Programme for the period between 2022 and 2030, editor's note) and 48% (according to the IPCC, the Intergovernmental Panel on Climate Change, which aims to reduce this from 2019) by 2030 to limit warming to 1.5°C," says Lisa Fischer, Head of the Fossil Fuels Programme at the think-tank E3G.

The commitments studied by the IEA, despite the large number of countries and oil companies, cover only a small part of total emissions: about 40% for the countries and 35% of the world's oil and gas production for the 50 companies. "These commitments are limited in their global scope, especially because China and India are not involved in the methane deal," said Alden Meyer, an expert at the E3 think-tank who has been following these summits for the past <> years. Therefore, additional action is needed. Her colleague Lisa Fischer adds that "this (IEA) assessment is a clear signal that we need to be concerned about fossil fuels."

This is the objective of Sultan al-Jaber, the president of COP28, who convened a "Majlis" on Sunday afternoon, a meeting where everyone sits in a circle, to relaunch negotiations that are stalling. The Emirati president insisted that "failure is not an option" and hoped that a consensus would be found on all fossil fuels, including coal. Behind the scenes at the COP, there are reports that India does not want to hear about any restrictions on coal. In addition, the representative of Saudi Arabia – which does not want to hear about fossil fuels in the final agreement – said he wanted his "concerns" to be taken into account and demanded that "certain energy sectors" not be targeted.

For her part, Agnès Pannier-Runacher, the Minister for Energy Transition, indicated during this "Majlis" that "in Europe, we will reduce our greenhouse gas emissions by 55% by 2030. This indicates that we are leaving room for other countries (to continue to broadcast)."

Source: lefigaro

All tech articles on 2023-12-10

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