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The Global Renewables Alliance (GRA) is calling on countries to turn their climate pledges into clear and concise negotiating text at COP28, one that clears all hurdles in the roadmap to tripling renewable power and doubling energy efficiency by 2030.
“Ambition, action and accountability are key to achieving these targets. The final country pledges that will be revealed on December 2 at COP28 must be bold, ambitious and effective that show a clear pathway to decarbonisation and tripling renewable energy,” said Bruce Douglas, CEO of the Global Renewables Alliance, on the eve of the annual climate summit being held at Expo City Dubai from November 30 until December 12.
Douglas’ words follow the industry report issued by the International Renewable Energy Agency (IRENA), and the GRA of fast- tracking a just and orderly energy transition to keep 1.5 °C within reach.
“The good news is the finance exists to make this happen. But the bad news is that countries are way off target. Fossil fuel investments have doubled from G20 nations, even as the world needs countries to embrace renewables,” said Douglas.
According to the industry leaders, permits for building wind farms are taking longer than building such projects, while financing the value chain is far from what is desirable.
Ben Backwell, CEO of the Global Wind Energy Council, also stressed the need for faster deployment in renewable energy. “Even though we are a fast-growing industry, the industry needs to be 3 to 4 times bigger to meet 2030 targets. But many regions don’t have room for investments in renewables,” he said.
Even as countries such as the UAE are shifting focus to green hydrogen, green ammonia and sustainable aviation fuel, Jonas Moberg, CEO of the Green Hydrogen Organization, pointed out that the Global South was still lacking.
“While countries like China are tapping into green hydrogen at breathtaking speed, there is an urgent need for development finance in places like Africa. How to harness the sun and wind in the Sahara in a responsible way is what we need to be discussing at COP28,” said Moberg.
Power grids, energy storage, end-use electrification, sector coupling and infrastructure planning, demand-side management were all key deliverables that industry leaders expressed were essential to meeting targets.
(Reporting by Bindu Rai, editing by Daniel Luiz)
