Daily Management Review

Officials From More Than 60 Countries Support The Agreement To Quadruple Renewable Energy This Decade


According to two individuals familiar with the situation, more than 60 nations have declared their support for an agreement to treble renewable energy this decade and move away from coal, which is being led by the United States, United Arab Emirates, and European Union.
Prior to the U.N.'s annual COP28 climate discussions, which will take place in Dubai from November 30 to December 12, the EU, the US, and the UAE have been urging support for the pledge. The officials stated that they will also be calling for its inclusion in the final agreement of a meeting of world leaders on December 2.
Major developing nations like Australia, Japan, and Canada, as well as certain emerging economies like Nigeria, South Africa, and Vietnam, as well as some other nations including Barbados, Peru, Chile, and Zambia, have declared their intention to sign the pledge, the official said.
According to a draught of the commitment seen by Reuters, signatories would also be required to double the global rate of annual energy efficiency improvements to 4% until 2030.
The draught states that "the phase down of unabated coal power," which includes halting the funding of new coal-fired power plants, must go hand in hand with increased usage of renewable energy sources.
Negotiations with China and India to join the promise are "quite advanced," one of the officials told Reuters, though neither country has committed to do so yet.
If the world wants to prevent more catastrophic climate change, scientists warn that both fast increasing renewable energy and rapidly lowering the combustion of CO2-emitting fossil fuels in the power sector are essential.
An early demonstration of support for tripling renewable energy and shifting away from coal, according to the officials, will generate momentum and set a positive tone ahead of the anticipated days of intense negotiations at the climate conference.