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Economic Times
2 hours ago
- Business
- Economic Times
Tripling renewables by 2030 remains distant goal 2 years after COP28, says report
iStock The analysis by energy think tank Ember warned that this gap between global ambition and national planning risks undermining climate progress as well as the energy security and economic resilience of countries. NEW DELHI: National targets have barely made progress two years after countries agreed to tripling global renewable energy capacity by 2030, with the total global ambition increasing by just 2 per cent since the pledge, according to a new analysis published on analysis by energy think tank Ember warned that this gap between global ambition and national planning risks undermining climate progress as well as the energy security and economic resilience of countries. According to the tripling goal, a commitment made at COP28 in UAE in 2023, the countries need to increase combined energy generation capacity through renewable means by a factor of three by report said that national renewable energy targets now add up to 7.4 terawatts (TW) for 2030, just over double the 3.4 TW installed in 2022. This still falls significantly short of the 11 TW needed to meet the tripling goal. "Tripling global renewable capacity is the biggest action the world can take for climate this decade. Yet, despite the landmark COP28 agreement, national targets remain largely unchanged and fall short of what is needed," the report said. Katye Altieri, Global Electricity Analyst at Ember, said, "The purpose of a national renewables target is less-so to force more renewables to be built, but rather to make sure they are built smarter. It can help the government plan for the best place to build renewables and plan for grid and flexibility to integrate the renewables, and also to help companies invest in supply chains, making for a cheaper and more secure electricity system."The report said that only 22 countries have updated their 2030 targets since COP28, most of them in the European the EU, only seven countries, including Australia, Brazil, Indonesia, Mexico, South Korea, the UK and Vietnam, revised their targets, with five increasing ambition and two lowering updates were mostly part of routine planning cycles, not a direct response to the global agreement made at the UN climate conference or COP28 in Dubai in 2023, it the world's top 20 electricity producers, nine have yet to update their US has no national 2030 renewable energy target and is not expected to set one in the near future following recent policy rollbacks. Russia also has no target and is unlikely to announce one. China and South Africa are in the process of updating their plans, while India's 500 GW target remains unchanged but already aligns with the tripling said the lack of ambition could derail efforts to meet climate goals."Without near-term action to raise national ambition, the world risks missing a critical opportunity to keep the 1.5 degree Celsius pathway within reach," the report warned. The findings come as countries prepare for COP30 at Belem in Brazil, where they will be urged to align national commitments with the global tripling pledge to fast-track clean energy investment and reduce reliance on fossil fuels.
Time of India
2 hours ago
- Business
- Time of India
Tripling renewables by 2030 remains distant goal 2 years after COP28, says report
NEW DELHI: National targets have barely made progress two years after countries agreed to tripling global renewable energy capacity by 2030, with the total global ambition increasing by just 2 per cent since the pledge, according to a new analysis published on Thursday. The analysis by energy think tank Ember warned that this gap between global ambition and national planning risks undermining climate progress as well as the energy security and economic resilience of countries. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Healthcare others Design Thinking MBA Data Science healthcare Technology Finance Product Management Leadership Project Management Operations Management Data Analytics MCA Management Public Policy Cybersecurity CXO Others Skills you'll gain: Strategic Data-Analysis, including Data Mining & Preparation Predictive Modeling & Advanced Clustering Techniques Machine Learning Concepts & Regression Analysis Cutting-edge applications of AI, like NLP & Generative AI Duration: 8 Months IIM Kozhikode Professional Certificate in Data Science and Artificial Intelligence Starts on Jun 26, 2024 Get Details According to the tripling goal, a commitment made at COP28 in UAE in 2023, the countries need to increase combined energy generation capacity through renewable means by a factor of three by 2030. The report said that national renewable energy targets now add up to 7.4 terawatts (TW) for 2030, just over double the 3.4 TW installed in 2022. This still falls significantly short of the 11 TW needed to meet the tripling goal. "Tripling global renewable capacity is the biggest action the world can take for climate this decade. Yet, despite the landmark COP28 agreement , national targets remain largely unchanged and fall short of what is needed," the report said. Live Events Katye Altieri, Global Electricity Analyst at Ember, said, "The purpose of a national renewables target is less-so to force more renewables to be built, but rather to make sure they are built smarter. It can help the government plan for the best place to build renewables and plan for grid and flexibility to integrate the renewables, and also to help companies invest in supply chains, making for a cheaper and more secure electricity system." The report said that only 22 countries have updated their 2030 targets since COP28, most of them in the European Union. Outside the EU, only seven countries, including Australia, Brazil, Indonesia, Mexico, South Korea, the UK and Vietnam, revised their targets, with five increasing ambition and two lowering it. These updates were mostly part of routine planning cycles, not a direct response to the global agreement made at the UN climate conference or COP28 in Dubai in 2023, it said. Among the world's top 20 electricity producers, nine have yet to update their targets. The US has no national 2030 renewable energy target and is not expected to set one in the near future following recent policy rollbacks. Russia also has no target and is unlikely to announce one. China and South Africa are in the process of updating their plans, while India's 500 GW target remains unchanged but already aligns with the tripling goal. Ember said the lack of ambition could derail efforts to meet climate goals. "Without near-term action to raise national ambition, the world risks missing a critical opportunity to keep the 1.5 degree Celsius pathway within reach," the report warned. The findings come as countries prepare for COP30 at Belem in Brazil, where they will be urged to align national commitments with the global tripling pledge to fast-track clean energy investment and reduce reliance on fossil fuels.
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Business Standard
6 hours ago
- Business
- Business Standard
Tripling renewables by 2030 remains distant goal 2 yrs after COP28: Report
National targets have barely made progress two years after countries agreed to tripling global renewable energy capacity by 2030, with the total global ambition increasing by just 2 per cent since the pledge, according to a new analysis published on Thursday. The analysis by energy think tank Ember warned that this gap between global ambition and national planning risks undermining climate progress as well as the energy security and economic resilience of countries. According to the tripling goal, a commitment made at COP28 in UAE in 2023, the countries need to increase combined energy generation capacity through renewable means by a factor of three by 2030. The report said that national renewable energy targets now add up to 7.4 terawatts (TW) for 2030, just over double the 3.4 TW installed in 2022. This still falls significantly short of the 11 TW needed to meet the tripling goal. "Tripling global renewable capacity is the biggest action the world can take for climate this decade. Yet, despite the landmark COP28 agreement, national targets remain largely unchanged and fall short of what is needed," the report said. Katye Altieri, Global Electricity Analyst at Ember, said, "The purpose of a national renewables target is less-so to force more renewables to be built, but rather to make sure they are built smarter. It can help the government plan for the best place to build renewables and plan for grid and flexibility to integrate the renewables, and also to help companies invest in supply chains, making for a cheaper and more secure electricity system." The report said that only 22 countries have updated their 2030 targets since COP28, most of them in the European Union. Outside the EU, only seven countries, including Australia, Brazil, Indonesia, Mexico, South Korea, the UK and Vietnam, revised their targets, with five increasing ambition and two lowering it. These updates were mostly part of routine planning cycles, not a direct response to the global agreement made at the UN climate conference or COP28 in Dubai in 2023, it said. Among the world's top 20 electricity producers, nine have yet to update their targets. The US has no national 2030 renewable energy target and is not expected to set one in the near future following recent policy rollbacks. Russia also has no target and is unlikely to announce one. China and South Africa are in the process of updating their plans, while India's 500 GW target remains unchanged but already aligns with the tripling goal. Ember said the lack of ambition could derail efforts to meet climate goals. "Without near-term action to raise national ambition, the world risks missing a critical opportunity to keep the 1.5 degree Celsius pathway within reach," the report warned. The findings come as countries prepare for COP30 at Belem in Brazil, where they will be urged to align national commitments with the global tripling pledge to fast-track clean energy investment and reduce reliance on fossil fuels.
The Guardian
9 hours ago
- Business
- The Guardian
Countries failing to act on UN climate pledge to triple renewables, thinktank finds
Most global governments have failed to act on the 2023 UN pledge to triple the world's renewable energy capacity by the end of the decade, according to climate analysts. The failure to act means that on current forecasts the world will fall far short of its clean energy goals, leading to a continued reliance on fossil fuels that is incompatible with the target of limiting global heating to below 1.5C. A report by the climate thinktank Ember found that only 22 countries, most within the EU, have increased their renewable energy ambitions since more than 130 signed up to the renewables pact at the UN's Cop28 climate talks in Dubai almost two years ago. This means that the global sum of national renewables targets is now just 2% higher than at Cop28. While this could be enough to double the world's renewable energy capacity from 2022, to reach 7.4 terawatts (TW) by 2030, governments would fall well below the 11TW needed to meet the UN goal of tripling renewables, according to the analysts. 'Tripling global renewables capacity by 2030 is the single biggest action this decade to stay on track for the 1.5C climate pathway,' the report said. 'Yet, despite the landmark Cop28 agreement to reach 11,000GW of renewables by 2030, national targets remain largely unchanged and fall short of what is needed.' The report found that beyond the EU only seven countries have updated their renewable energy goals since the pact was signed, including Mexico and Indonesia, which have watered down their targets. Countries that have failed to act include the US, China and Russia, which are some of the world's largest energy users and together are responsible for almost half of the world's annual carbon emissions. The fate of the world's renewable energy deal may depend on the actions of Beijing, which is expected to finalise its 15th five-year plan for energy later this year, covering the period 2026-30. Washington and Moscow do not have renewable energy targets for 2030, and according to Ember their political leaders are not expected to set any. In India, clean energy targets have also remained unchanged, but the country's ambition to build 500GW of renewables by 2030 is already aligned with the global goal to triple renewable energy capacity, the thinktank added. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The country that has showed the greatest renewables ambition since Cop28 is Vietnam, which this year pledged to increase its capacity by 86GW by the end of the decade. Australia and Brazil have promised to increase their homegrown renewables by 18GW and 15GW. The UK upgraded its renewable energy plans last year with a pledge to build an extra 7GW of renewable energy by 2030 to reach the Labour government's target to create a virtually carbon-free electricity system. In Korea, renewables are expected to grow by 9GW by 2030.
The Guardian
9 hours ago
- Business
- The Guardian
Countries failing to act on UN climate pledge to triple renewables, thinktank finds
Most global governments have failed to act on the 2023 UN pledge to triple the world's renewable energy capacity by the end of the decade, according to climate analysts. The failure to act means that on current forecasts the world will fall far short of its clean energy goals, leading to a continued reliance on fossil fuels that is incompatible with the target of limiting global heating to below 1.5C. A report by the climate thinktank Ember found that only 22 countries, most within the EU, have increased their renewable energy ambitions since more than 130 signed up to the renewables pact at the UN's Cop28 climate talks in Dubai almost two years ago. This means that the global sum of national renewables targets is now just 2% higher than at Cop28. While this could be enough to double the world's renewable energy capacity from 2022, to reach 7.4 terawatts (TW) by 2030, governments would fall well below the 11TW needed to meet the UN goal of tripling renewables, according to the analysts. 'Tripling global renewables capacity by 2030 is the single biggest action this decade to stay on track for the 1.5C climate pathway,' the report said. 'Yet, despite the landmark Cop28 agreement to reach 11,000GW of renewables by 2030, national targets remain largely unchanged and fall short of what is needed.' The report found that beyond the EU only seven countries have updated their renewable energy goals since the pact was signed, including Mexico and Indonesia, which have watered down their targets. Countries that have failed to act include the US, China and Russia, which are some of the world's largest energy users and together are responsible for almost half of the world's annual carbon emissions. The fate of the world's renewable energy deal may depend on the actions of Beijing, which is expected to finalise its 15th five-year plan for energy later this year, covering the period 2026-30. Washington and Moscow do not have renewable energy targets for 2030, and according to Ember their political leaders are not expected to set any. In India, clean energy targets have also remained unchanged, but the country's ambition to build 500GW of renewables by 2030 is already aligned with the global goal to triple renewable energy capacity, the thinktank added. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The country that has showed the greatest renewables ambition since Cop28 is Vietnam, which this year pledged to increase its capacity by 86GW by the end of the decade. Australia and Brazil have promised to increase their homegrown renewables by 18GW and 15GW. The UK upgraded its renewable energy plans last year with a pledge to build an extra 7GW of renewable energy by 2030 to reach the Labour government's target to create a virtually carbon-free electricity system. In Korea, renewables are expected to grow by 9GW by 2030.
