The president of COP28 called this Tuesday in Berlin to “triple” the world’s renewable energy production capacity by 2030 to help limit global warming. “We will accelerate the development of renewable energies, which must triple their capacity by 2030 and double it again by 2040,” declared Sultan Ahmed al-Jaber, during the Petersberg Climate Dialogue. This objective had already been set by the head of COP28 in mid-April behind closed doors at the G7 summit in Sapporo (Japan).
It is also advocated by the International Energy Agency (IEA), which estimated in a recent report that renewable energy capacity additions need to triple by 2030 compared to 2022 levels. deploy around 1,200 GW per year globally, according to the IEA .
A risk of crossing the global warming limit of 1.5 degrees within a decade
The Emirati COP28 president did not mention stopping the use of fossil fuels, instead focusing on reducing emissions, particularly through carbon capture technologies. “We must focus on phasing out fossil fuel emissions, while implementing viable and affordable carbon-free alternatives,” the COP28 president said Tuesday in Berlin. Sultan Ahmed al-Jaber said to “expect ambitious, transparent and responsible commitments from countries and companies that will shape the policies and budgets of parliaments” at the future COP28, which will meet in November in Dubai.
In a recent summary of their work, the Intergovernmental Panel on Climate Change (IPCC) warned that the world could cross the key global warming limit of 1.5 degrees Celsius in about a decade. These UN experts have called for dramatic reductions in global warming emissions, with particularly rapid transformation needed in the field of energy.
Developed countries must release the 100 billion dollars a year for developing countries
Sultan Ahmed al-Jaber also called for a reform of the World Bank and the International Monetary Fund, which would supposedly allow “unlocking much more financing, mitigating risks and attracting more private capital.” The COP28 president urged developed countries to release the $100 billion pledged to developing countries each year to tackle global warming. A promise that dates back to 2009 and that was initially going to be fulfilled as of 2020.
The head of German diplomacy, Annalena Baerbock, was optimistic about it on Tuesday at this conference. “The good news is that we are about to reach that sum of 100 billion dollars this year,” said the Minister of the Environment.
Source: BFM TV
