Today's Edition
Mays Ibrahim (ABU DHABI)
The achievements of COP28 under UAE’s presidency were historic, laying out a clear strategy towards phasing out fossil fuels, according to International Renewable Energy Agency (IRENA) officials, who stressed the need for urgent action to achieve this transition.
During the 27th Meeting of the IRENA Council, which kicked off in Abu Dhabi on Thursday, Francesco La Camera, Director General of IRENA said: “The world is not on track to limit global warming to 1.5°C and our chances of reversing this trajectory are increasingly shrinking. We don’t have the luxury of delayed action.”
He added that ensuring energy security requires reimagining policies and skills to modernise and expand energy infrastructure, in addition to ensuring access to affordable financing and partnerships.
Commending the UAE Consensus, which set an unprecedented global goal, La Camera said: “This clarion call constitutes a clear strategy on the way forward, a just pathway to phase out fossil fuels, triple renewables and double energy efficiency by 2030”.
The Director General of IRENA noted that realising the COP28 targets, requires the deployment of 1,000 gigawatts of renewable energy annually.
“COP28 was successful, historically so,” added Chris Davy, Chair of the Council and Director for Energy Transformation of the US Department of State.
“Achieving the Triple Aim renewables pledge will not be easy, but it is achievable. And it is absolutely necessary that we do so in order to reach our collective Net Zero conditions,” he said.
Davy also highlighted a recent analysis which revealed that 2023 was the planet’s warmest year on record.
“Events happening in real-time demonstrate the power of this rapid warming. Countries around the world are already evacuating coastal communities from areas where sea levels have risen. These are very concerning, even frightening, findings and events. We cannot ignore the warning they hold”.
IRENA’s most recent report from its World Energy Transition Outlook Briefs found that in 2023, global renewable energy capacity reached 3.87 terawatts, according to Davy.
IRENA also reported that renewable sources accounted for 86% of all newly added power capacity globally in 2023, he said, stressing the importance of continued commitment to sustain and further this marked progress.
