A goal to triple global renewable energy capacity by 2030 and cut fossil fuel use is within reach, the International Energy Agency said in a report on Tuesday, but will require a huge push to unlock bottlenecks such as permitting and grid connections.
The report comes as leaders from government and business come together at New York Climate week to try to drive forward action against climate change.
Almost 200 countries at the COP 28 climate summit in Dubai last year agreed to reach net zero emissions from the energy sector by 2050 and pledged to triple renewable energy capacity like wind and solar.
The IEA said the renewable energy goal “is within reach thanks to favourable economics, ample manufacturing potential and strong policies,” but said more renewable capacity by itself would not slash fossil fuel use and reduce costs for consumers.
“To unlock the full benefits of the tripling goal, countries need to make a concerted push to build and modernise 25 million kilometres of electricity grids by 2030… The world would also need 1,500 gigawatts (GW) of energy storage capacity by 2030,” the IEA said.
Countries at COP 28 also pledged to double energy efficiency measures to help curb power use, but this target will require governments to make efficiency much more of a policy priority.
Countries must embed the renewable and energy efficiency goals in their national plans to meet goals set under the Paris climate agreement, the IEA said.
Emissions from the global energy sector hit a record high last year.
Tripling renewable energy capacity and doubling energy efficiency measures to reduce power use could reduced global greenhouse gas emissions by 10 billion metric tons by the end of the decade compared with what is otherwise expected, the report said.
UN Deputy Secretary-General Amina Mohammed urged fair policies for clean energy minerals, highlighting the need for equity, transparency, and environmental protection as demand soars worldwide.
Azerbaijan will unveil a new set of sustainable investment standards at the COP29 U.N. climate talks, with support from over 100 countries. The Central Bank aims to simplify green finance and announce funding commitments for green projects by 2030.
World Meteorological Organization found that ocean temperatures in the South West Pacific are increasing at up to three times the rate worldwide, while sea level rise in the region is outstripping the global average
Azerbaijan discussed the projects of natural gas supply and green energy supply with the European Union
The International Criminal Court has issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and his former defence chief, as well as a Hamas leader, Ibrahim Al-Masri, for alleged war crimes and crimes against humanity, the court said on Thursday.
Former German Chancellor Angela Merkel describes her dealings with world leaders like Russian President Vladimir Putin and Donald Trump during her 16 years in power in her new memoir, which comes as her legacy is under fire in light of today's crises.
Iceland’s Reykjanes Peninsula, active again after 800 years, has seen repeated volcanic eruptions since 2021. From lava fountains to massive fissures, eruptions have reshaped the landscape, attracting tourists while prompting evacuations and safety warnings.
An earthquake measuring 4.6 on the Richter scale struck the Dashtestan district of Bushehr Province in southern Iran at 8:30 a.m. local time today, according to the National Seismology Center of the Institute of Geophysics at Tehran University.
"Come up with the video in its full form," demands the COP29 CEO, Elnur Soltanov, in an exclusive interview with AnewZ. The chief executive has broken his silence on the claims he was using his position to organise potential fossil fuel deals.
The United Nations COP29 climate change conference in Baku seeks $1 trillion annually to help vulnerable nations tackle climate change, as political tensions and Argentina’s withdrawal overshadow talks.
Afghanistan calls on COP29 leaders to prioritize vulnerable communities in climate justice, grateful to Azerbaijan for inclusion.
Iceland’s Reykjanes Peninsula, active again after 800 years, has seen repeated volcanic eruptions since 2021. From lava fountains to massive fissures, eruptions have reshaped the landscape, attracting tourists while prompting evacuations and safety warnings.
Global tourism takes a climate-conscious turn as 50+ nations sign a UN pact at COP29 in Baku, pledging greener practices.
The International Criminal Court has issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and his former defence chief, as well as a Hamas leader, Ibrahim Al-Masri, for alleged war crimes and crimes against humanity, the court said on Thursday.
Former German Chancellor Angela Merkel describes her dealings with world leaders like Russian President Vladimir Putin and Donald Trump during her 16 years in power in her new memoir, which comes as her legacy is under fire in light of today's crises.
Iceland’s Reykjanes Peninsula, active again after 800 years, has seen repeated volcanic eruptions since 2021. From lava fountains to massive fissures, eruptions have reshaped the landscape, attracting tourists while prompting evacuations and safety warnings.
An earthquake measuring 4.6 on the Richter scale struck the Dashtestan district of Bushehr Province in southern Iran at 8:30 a.m. local time today, according to the National Seismology Center of the Institute of Geophysics at Tehran University.
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