The most awaited 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change has started in Dubai, United Arab Emirates, on November 30, 2023, and will continue until December 12, 2023.The conference aims to implement and boost up the goals set forth in the Paris Climate Change Agreement.
It has witnessed significant clean energy developments in one week. Here are three significant developments-
1. Tripling Renewable Energy Capacity: Around 118 nations have pledged to triple the world’s renewable energy capacity by 2030. With this pledge, the nations would focus on reducing the share of fossil fuels in global energy production. This initiative led by the European Union, United States, and the United Arab Emirates, also seeks to remove CO2-emitting fossil fuels from the energy system by 2050. Other countries such as Brazil, Nigeria, Australia, Japan, Canada, Chile, and Barbados have also shown supported towards this effort.
2. Energy Efficiency to be Doubled: The conference has also set the target to double the global rate of energy efficiency by 2030. This will focus on improving energy efficiency which is essential for reducing greenhouse gas emissions and ensuring sustainable energy use.
3. Phasing Out Fossil Fuels: This has been stressed upon by the climate-vulnerable countries who emphasized on phasing out fossil fuels globally. While renewables like solar and wind have been growing globally, there is a need to address the challenges such as rising costs and supply chain issues in order to accelerate the transition away from fossil fuels.
It should be noted that, COP28, has brought together representatives from nearly every country in the world to address urgent climate challenges, including limiting global temperature rise, supporting vulnerable communities, and achieving net-zero emissions by 2050. It is reported that over 70,000 delegates are participating in COP28.