Worldwide Backing for Renewable Energy Surges Ahead of COP28 Climate Talks

By Faridat Salifu

As Support for the Revolution in Renewable Energy Is Growing Worldwide Prior to COP28, 350.org has released a paper titled “Power Up for Climate Justice: Financing and Implementing a 1.5°C-Aligned Global Renewables Target.”

The necessity of keeping global warming to 1.5°C has assumed central role as researchers warn that 2023 may be the warmest year on record. As the 350.org report emphasizes, the adoption of a global target for renewable energy is a prerequisite to achieving this important goal.

With a statement that emphasizes on the urgency of action, 350.org’s Executive Director May Boeve in the paper presented last Wednesday said, “The global renewable energy target at COP28 must encompass commitments to triple fair, safe, and clean renewable energy capacity by 2030, deploying 1.5 terawatts per year thereafter, doubling energy efficiency by 2030, and achieving a complete phase-out of fossil fuels by 2050.” This goal needs to be combined with extensive, quick, and fair funding.”

In the face of this urgency, the paper emphasizes how quick and equitable distribution is key to the successful implementation of the worldwide shift to renewable energy.

A financing package specifically designed to meet the requirements of the Global South and the phase-out of fossil fuels are important elements of this transformation.

Sieber emphasized that in addition to an expeditious and just phase-out of fossil fuels, a meaningful global renewable energy target at COP28 needs to be backed by a clear implementation roadmap with fair processes and pledges in the financial and policy realms.

Any deal made at COP28 would be meaningless without these essential elements, and polluting nations would be able to take advantage of the renewable energy objective while continuing to emit fossil fuels.

The report put out other suggestions for the final decision language of COP28, including the need for a legal framework and the exclusive use of tested renewable energy sources like solar and wind.

Additionally, it emphasized how crucial it is for all involved parties to make pledges to put in place the framework and the accomplishment of an international goal for renewable energy and a fair shift away from fossil fuels.