Leaders from almost 120 nations at the COP28 summit in Dubai have committed to tripling the world’s renewable energy capacity within the next seven years. This collective effort aims to transition away from fossil fuels and move closer to achieving net-zero carbon emissions by 2050. Notably, major oil-producing nations such as Saudi Arabia, Russia, Iran, and China have chosen not to participate in this initiative.
The pledges made are voluntary and non-binding, with a focus on ambitious deployment of solar, wind, hydroelectric, and other renewable sources. President Sultan Al Jaber, who leads COP28, emphasized the need for broader participation, particularly from key stakeholders. Over half of all nations have signed up to triple global renewable capacity and double energy efficiency by 2030.
While clean energy advocates welcomed the commitment, they also stressed the importance of simultaneously phasing out more polluting forms of energy. Kaisa Kosonen, the head of Greenpeace’s COP28 delegation, stated that although the future will be powered by solar and wind, its realization depends on governments regulating fossil fuels out of the way.
In another significant development, oil and gas companies responsible for 40% of global production, including Saudi Aramco and UAE’s ADNOC, pledged to decarbonize their operations by 2050 and reduce methane emissions. However, these commitments do not include emissions from the burning of fuels by customers.
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