Global coalition calls for tripling renewable energy by 2030

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Global coalition calls for tripling renewable energy by 2030

Global coalition calls for tripling renewable energy by 2030

Industry News
Sep 20,23

The alliance of organisations, which includes Adani, American Greenpower, Ember, and the Energy Transition Commission, emphasised that achieving this target represents the swiftest and most cost-effective approach to decarbonise the global economy.

Global coalition calls for tripling renewable energy by 2030

A coalition of more than 200 climate and energy organisations worldwide issued an open letter, urging global leaders and participants in the Paris Agreement to establish an ambitious global objective: tripling renewable energy capacity to a minimum of 11,000 gigawatts by 2030 at the upcoming COP28 in the UAE. This call to action coincides with the UN General Assembly and New York Climate Week.

The alliance of organisations, which includes Adani, American Greenpower, Ember, and the Energy Transition Commission, emphasised that achieving this target, alongside enhanced energy efficiency, represents the swiftest and most cost-effective approach to decarbonise the global economy and combat climate change.

The open letter states, "Last year witnessed record-high emissions from the power sector, and the UN assessment indicated that no nation is currently on a credible path to limit global warming to 1.5 degrees Celsius. It is evident that a profound redirection of the energy system within this decade is imperative, and time is of the essence." This initiative builds on the momentum generated during COP27, which underscored the urgent need for a rapid transformation of the energy system and the commitment of the G20 to tripling renewable energy capacity by 2030.

Policymakers, including the COP28 Presidency and heads of international energy agencies, are already actively working toward this ambitious goal. Their efforts include expediting the expansion of wind, solar, hydropower, and geothermal energy sources.

Furthermore, this accelerated deployment will serve as the groundwork for emerging technologies like long-duration energy storage and green hydrogen, ensuring a clean, secure, and equitable global energy system by 2050, according to the coalition.

Renewable energy has already begun to revolutionise communities worldwide by delivering clean electricity, creating millions of green jobs, and attracting investment for economic growth. Tripling these endeavours presents a significant opportunity to mitigate climate-related harm to both nature and communities while fostering sustainable, inclusive, and climate-resilient development.

While each nation and region will pursue a unique approach to achieve the shared target, the open letter delineates crucial actions necessary for its realisation. This encompasses Paris Agreement signatories committing to ambitious energy transition plans with clear interim milestones, which should be reflected in their Nationally Determined Contributions and national policy frameworks. Additionally, streamlining permitting processes for large-scale renewable energy projects, long-duration energy storage, and renewable hydrogen initiatives is crucial.

The coalition also advocates for investments in grid action plans to expand electricity grids for renewables and long-duration energy storage, as well as the promotion of multilateral renewable energy partnerships and trade agreements to bolster energy transition, cooperation, and technology exchange. Furthermore, the organisations call for the integration of renewable deployment into environmental and biodiversity strategies and a reinforced commitment to Sustainable Development Goal 7 for an equitable energy transition.

The coalition recognises that achieving this target represents a significant leap in climate action. It necessitates collaboration between governments, industry stakeholders, and the financial sector to expedite policy and regulation, attract investments, construct infrastructure, and support developing economies in their transition to clean energy.

Source: ETEnergyworld