Call for “Tripling renewable energy… by 2030” in final text from COP28 signals end of fossil fuel era.
Dubai, 13 December, 2023 | The agreement to triple renewables at COP28 in Dubai represents a step change in the world’s journey to a clean, secure and just energy future. It also marks the beginning of the end of the fossil fuel era. It represents the first time the technology’s positive impact and climate saving potential has been recognised by all nations.
The debate must move on from asking a handful of fossil producing countries to do us all a favour, and instead focus on building the world we all want to live in. This must be the start of a new era of collaboration that will see industry and government enabling an accelerated transition to a renewable based future.
The specific inclusion for the first time of renewables makes it clear renewable technologies can deliver the energy transition this decade. Industry, governments and society must now have a laser-focus on unblocking the pathway to enable their rapid deployment.
Tripling renewable energy capacity to 11,000 GW and doubling energy efficiency by the end of the decade is the most impactful and cost efficient way of keeping the world on course for 1.5°C. Renewable energy technologies are mature, cost competitive and can be deployed at scale very fast. When combined with sustainable hydropower they offer a reliable and flexible solution.
This agreement needs to be swiftly followed by urgent action and implementation to deliver adequate finance, faster permits, new grids and resilient supply chains. It will then unleash a huge wave of investments and job creation, whilst providing affordable access to secure, local energy and clean air.
Bruce Douglas, CEO, Global Renewables Alliance, said: “The inclusion of tripling renewables in the final COP28 text is unprecedented and signals the start of a massive clean energy revolution. It is the first time all nations have recognised renewable energy as the main solution to the climate crisis, representing a paradigm shift in the energy transition.
“However, the catastrophic failure to agree on the phaseout of fossil fuels will inevitably lock us into increased climate impacts and dramatically exposes the limits of the current COP decision making process. The rapid expansion of renewables this decade offers a once in a generation opportunity to help end the fossil fuel era.”
Eddie Rich, CEO IHA, commented: “Whilst the overall outcome from COP28 is mixed, the sustainable hydropower community welcomes the commitment the world’s leaders have made today on the future for renewables. To triple renewables deployment without falling back on fossil fuels will require the flexibility and storage that only hydropower can bring at scale. Finding models that incentivise sustainable hydropower requires political will and action. Water, wind and sun get the job done!”