The European Union (EU), United States (US), and United Arab Emirates (UAE) are leading a global initiative to triple renewable energy and double energy savings by 2030, with a call for its inclusion in the outcome of the upcoming COP28 UN climate talks, as reported by Reuters on November 9. The initiative aims for a significant increase in global renewables capacity, targeting 11 terawatts (TW) by 2030, and a doubling of the annual average global rate of energy efficiency improvements to reach 4% by 2030. COP28 President Sultan Al Jaber has invited all nations to join the commitment and make tangible commitments at the COP28. More than 60 countries, including Australia, Zambia, South Africa, Japan, and Singapore, have agreed to join the initiative.

The planned pledge outlines steps for achieving clean energy goals, including increased financing, strengthening power grids, streamlining permitting processes, and establishing market rules that encourage investment. Additionally, the pledge emphasizes that the renewable energy targets must be accompanied by a shift away from unabated fossil fuels that lack emissions-removal technologies. Decisions at the UN talks require unanimous support from over 190 countries, and the stances of China and India, two of the world’s largest fossil fuel users, will play a crucial role in determining the adoption of the pledge. Negotiations with China and India are reportedly in advanced stages, although neither has yet agreed to join.

S****ources:

https://www.reuters.com/sustainability/climate-energy/over-60-countries-back-deal-triple-renewable-energy-this-decade-officials-2023-11-10/

https://www.bloomberg.com/news/articles/2023-11-10/us-and-eu-lead-push-for-cop28-to-endorse-tripling-of-renewables?srnd=green#xj4y7vzkg