May 22, 2024
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Over 60 Countries Back Deal to Triple Renewable Energy and Shift From Coal

More than 60 countries have expressed support for a deal initiated by the European Union, United States, and United Arab Emirates to triple renewable energy capacity within this decade and move away from coal according to officials.

This was contained in an exclusive report from Reuters on Friday, which said the EU, U.S., and UAE have sought backing for the pledge ahead of the U.N.’s COP28 climate negotiations scheduled from November 30 to December 12 in Dubai. They aim to incorporate the pledge into the outcome of the world leaders’ gathering on December 2.

Countries such as Nigeria, South Africa, Vietnam, Australia, Japan, Canada, Peru, Chile, Zambia, and Barbados have committed to joining the pledge, according to Reuters.

The draft of the pledge, reviewed by Reuters, outlines a commitment to doubling the global annual rate of energy efficiency improvement to 4% per year until 2030. The document emphasizes the need for a transition to renewables along with the “phase down of unabated coal power,” including halting the financing of new coal-fired power plants.

While negotiations with China and India are reportedly in advanced stages, both nations have yet to confirm their participation.

Scientists highlight the significance of rapidly expanding clean energy and swiftly reducing CO2-emitting fossil fuel consumption to address climate change effectively.

An early display of support for the renewable energy initiative is expected to generate momentum and set a positive tone for the upcoming climate conference negotiations.

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