COP28 Agreement marks historic shift as nations pledge to triple renewable energy by 2030
14 December 2023
At COP28 in Dubai, world leaders have committed to tripling renewable energy capacity by 2030, signaling a decisive end to the era of fossil fuels. The agreement, a culmination of global efforts, signifies a paradigm shift towards a clean, secure, and just energy future.
For the first time in history, all nations acknowledged the positive impact and climate-saving potential of renewable technologies, emphasizing a shared responsibility to build a sustainable world. Despite weak language on the transition away from fossil fuels, the onus now lies on industry and governments to expedite the transition to a renewable-based future.
The inclusion of wind, solar, and storage technologies in the final text underscores the capability of renewables to drive the energy transition this decade. With a focus on unblocking pathways for rapid deployment, the goal is to triple renewable energy capacity to 11,000 GW and double energy efficiency by the end of the decade, ensuring alignment with the 1.5°C target.
Bruce Douglas, CEO of the Global Renewables Alliance, expressed enthusiasm, stating, "The inclusion of tripling renewables in the final COP28 text is unprecedented and signals the start of a massive clean energy revolution."
However, the failure to agree on a fossil fuel phaseout highlights the ongoing challenges in decisively addressing climate impacts. Julia Souder, CEO of the Long Duration Energy Storage Council, emphasized the historic nature of transitioning from fossil fuels and stated: "The tripling of renewable energy with energy storage creates the pathway to the sustainable future we all want."
Ben Backwell, CEO of the Global Wind Energy Council, called COP28 a landmark agreement in the fight against climate change, marking the end of the fossil fuel era and the beginning of the renewables era. He urged swift action to unlock finance, streamline permitting, and transform grids for a successful energy transition.
Sonia Dunlop, CEO of the Global Solar Council, hailed the global renewables target as inconceivable a few years ago. She emphasized that the plummeting costs and innovation of solar and renewables make the 1.5°C target achievable. Dunlop urged governments to align their policies with the transition to renewables.
Eddie Rich, CEO of the International Hydropower Association (IHA), welcomed the commitment to renewables, emphasizing the role of hydropower in providing flexibility and storage at scale. Rich called for political will and action to incentivize sustainable hydropower models. “Water, wind and sun get the job done!” he said.
The Global Renewables Alliance, representing leading international industry players, aims to increase ambition and accelerate the global uptake of renewable energy. Comprising organizations such as the Global Wind Energy Council, the Global Solar Council, the IHA, the International Geothermal Association, the Long Duration Energy Storage Council, and the Green Hydrogen Organisation, the Alliance advocates for a swift transition to renewables.
