New Energy
COP28 Goal to Triple Renewables by 2030 is Vital for Net-Zero
- Solar power on track but wind needs more support, BNEF says
- G-20 countries more-than doubled fossil fuel subsidies in 2022
A construction worker inspects the photovoltaic solar panels in France.
Photographer: Andrea Mantovani/BloombergThis article is for subscribers only.
COP28 must commit to tripling renewable energy capacity by 2030 to meet net-zero goals by the middle of the century, as the world is well off track hitting its targets to curb global warming, according to a new report by BloombergNEF.
As the United Nations’ climate summit prepares to start in Dubai next week, the US and European Union are leading a push for countries to back a tripling of renewables and double the rate of energy efficiency. Such a green energy goal exceeds BNEF’s forecast for 2030 and will be hard to achieve, yet it’s crucial for slashing emissions, the analyst said.