In a report published on Tuesday, the International Energy Agency (IEA) stated that it is feasible to meet the targets established during the Conference of Parties 28 (COP28) in Dubai last November, which is also referred to as “the UAE Consensus,” which calls for tripling renewable energy to 1500 GW and doubling energy efficiency by 2030.
This will allow many of the 200 countries to reach their agreed-upon goal of having a net-zero economy by 2050. China and India are expected to reach net-zero by 2060 and 2070, respectively. But if member nations can maintain the policy focus at the top of the agenda, the green energy transition can be accomplished.
Secondly, in order to double the energy efficiency target, it would also be necessary to design energy-efficient buildings and install more efficient air conditioners. According to the analysis, concentrating solely on renewable energy sources will not suffice. The transition away from fossil fuels, such as coal-fired power plants, must be deliberate. Although it may sound like a tall order, the paper claims that if the implementation is done throughout the nations and in all economic sectors, it is possible to meet the green energy objective.
“The goal set by nearly 200 countries at COP28 can be transformative for the global energy sector, putting it on a fast track towards a more secure, affordable, and sustainable future,” stated Fatih Birol, Executive Director of the International Energy Agency.
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