The host of COP28 was asked to triple renewable capacity by 2030
On May 2, the President of this year’s “UN climate talks,“ hosted by the United Arab Emirates, Sultan Al Jaber, advocated for a significant increase in the usage of renewable energy by members.
During the opening ceremony of the meeting of climate diplomats, which is also called the “Petersburg Climate Dialogue,” Mr. Al Jaber said, “We will speed up delivery in industries like renewables, where the capacity must triple by 2030 and expand again by 2040.”
With his call, Mr. Al Jaber gave the International Energy Agency’s target public support. He had also brought up the goal during a closed-door meeting with G7 leaders last month in Japan.
He did not, however, demand that fossil fuel consumption be completely stopped.
Instead, according to the COP28 chair, the emphasis must be on reducing the emissions they produce while promoting renewable energy.
The UN’s expert panel on climate change warned earlier this year that the world risked exceeding the crucial 1.5-degree Celsius climate change limit in approximately ten years and urged a sharp decrease in emissions that contribute to global warming.
Without the employment of expensive and cutting-edge technologies to absorb and store the carbon pollution, the UN assessment stated that existing fossil fuel infrastructure will be sufficient to push the world over 1.5 C, even if solar and wind power are already growing significantly.
Rich countries promised the Global South $100 billion annually by 2020 at the disastrous UN climate summit in Copenhagen in 2009, but the OECD reported last year that the actual amount given was still $17 billion short.
The cash required for developing nations to quit using fossil fuels that warm the planet and get ready for upcoming climate calamities has already considerably exceeded that amount.
As many emerging nations struggle with rising costs, skyrocketing debts, and severe weather conditions, advocates are calling for a redesign of the world’s financial system to assist nations in coping.
However, the Petersberg dialogue’s host, Annalena Baerbock, Foreign Minister of Germany, stated that it might actually be possible to reach the pledged amount.