The European Union behind a global initiative at COP28: Tripling of renewable energy capacity by 2030

At the global climate action summit  in Dubai on December 2, the European Union led a groundbreaking initiative during COP28 in collaboration with the COP28 presidency, the International Energy Agency (IEA), and the International Renewable Energy Agency (IRENA). Ursula Von der Leyen, the President of the European Commission, unveiled a new initiative aimed at expediting the energy transition.

This ambitious proposal seeks to triple the global capacity of renewable energies, reaching at least 11 terawatts (TW) by 2030.

Concurrently, the goal is to double the rate of improvement in global energy efficiency, increasing it from 2% to an annual figure of 4% by the same year.

Emphasizing the significance of this global coalition, Von der Leyen highlighted its inclusivity, encompassing 118 countries of various sizes and regions, with diverse emission levels, including developing nations and small island states.

These countries acknowledge the need for enhanced international collaboration, particularly by increasing financial support for renewable energy and energy efficiency programs in emerging markets and developing economies.

The outlined measures in this initiative include collaboration on financing mechanisms to reduce capital costs, enhance technical support, strengthen capacities, and accelerate cross-border interconnections of energy networks.

This approach signifies a substantial step toward global solutions in combating climate change, aligning with SEO writing standards for effective online visibility and engagement.

Pedro OKALAMAR