Global coalition pledges to triple renewables, double energy efficiency improvements

9 months ago 35

A coalition of 118 countries, excluding China, has signed up to a pledge that aims to create a binding commitment for the world to triple its current renewable energy capacity and double the rate of energy efficiency improvements until 2030.

Tripling global renewable energy capacity to 11 Terawatt, while doubling the rate of energy efficiency improvements – an often underestimated measure considered a hidden climate champion – was an initiative launched by Europe in the spring of 2023.

Reaching the world’s climate goals “starts with transforming the energy sector” and consuming less of it, European Commission President Ursula von der Leyen explained at the COP 28 UN climate conference in Dubai on 2 December. The annual global conference takes place from 30 November to 12 December.

Her speech launched a global pledge of 118 countries who want to triple global renewable capacity and double energy efficiency improvements.

Committing to installing 11 Terawatts of renewable capacity was a “message of hope,” von der Leyen said. Meanwhile, “the cheapest energy is the one not consumed,” the EU executive chief added.

“With these goals, we send a clear message to industry and investors,” she stressed, adding that this degree of clarity was an important planning aid for companies and could mobilise private capital.

Additionally, the pledge will create a framework for benchmarking improvements. “Only that which gets measured gets done,” von der Leyen said. China, as ever the elephant in118 countries sign up the room, has yet to join the initiative. Mexico did so last minute.

Because pledges are not binding, activists stressed that they should be featured in the final text of the two-week climate meeting in Dubai. This is expected to be challenging but is considered a must by the EU.

“2030 is around the corner, and in the coming days we have to make sure that these targets are in the final COP declaration,” von der Leyen stressed, adding that the bloc was putting up €2.3 billion to support the initiative “in the coming years”.

Agreeing to triple renewables and double energy efficiency is but the first hurdle for the climate advocates gathered in Dubai.

While some attention is diverted to methane leaks from the energy sector – a low-hanging fruit deemed key to limiting short-term warming – climate advocates are expected to insist on strong language addressing the exit from fossil fuels.

“The presidency has baked half a pie. For COP28 to do its job, countries must commit to a tripling of renewables, a doubling of energy efficiency, and a strong fossil fuel phase out in the Global Stocktake formal negotiations,” stressed Linda Kalcher of the think tank Strategic Perspectives.

[Edited by Zoran Radosavljevic]