July 07, 2025 01:01 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Fadnavis did what Balasaheb Thackeray could not...': Raj Thackeray jibes at Maharashtra CM after MNS chief reunites with Uddhav | Modi will bow to Trump's deadline: Rahul Gandhi attacks PM over India-US trade deal | Marathi should be respected but thuggery in the name of language won't be tolerated: Devendra Fadnavis reacts to slapgate | Pune rape: Accused was not delivery boy but complainant's friend, she was angry at him for forced sex, say police | July 4 celebration: Trump signs 'One Big Beautiful Bill' into law | Vijay named as TVK's CM face for upcoming Tamil Nadu polls | India says only Dalai Lama can decide his successor, China responds with warning | Pakistan had 30-45 seconds to respond: Shehbaz Sharif's aide on India's BrahMos attack during Op. Sindoor | Calcutta HC orders closure of all Bengal college union rooms until fresh elections in wake of Kolkata rape case | ‘We will cross that bridge when we come to it’: Jaishankar’s response on US bill proposing 500% tariffs
Renewable Energy
Representational image by Gretar Ivarsson via Wikimedia Commons

Global energy sector's transformation to achieve COP28 targets is 'feasible', says IEA

| @indiablooms | Sep 24, 2024, at 07:37 pm

Paris/IBNS: The International Energy Agency (IEA) has stated in its latest report that tripling renewable energy capacity and doubling energy efficiency by 2030 to meet the goals set at COP28 is "feasible."

However, achieving these targets will require a major effort to expand energy storage and enhance grid infrastructure, according to the IEA report released on Tuesday.

The report, titled "From Taking Stock to Taking Action: How to Implement the COP28 Energy Goals", marks the first comprehensive global analysis of what is needed to achieve these targets.

The IEA emphasized that while the conditions for meeting the goals are promising, significant action is still required.

At the COP28 climate summit in Dubai last year, nearly 200 countries agreed to reach net-zero emissions in the energy sector by 2050.

This included a commitment to triple renewable energy capacity, such as wind and solar power.

The IEA report highlights that reaching the renewable energy target is attainable due to favorable economics, robust policies, and strong manufacturing capabilities.

However, it also cautions that expanding renewable capacity alone won’t be enough to drastically reduce fossil fuel consumption or lower energy costs for consumers.

“To fully realize the benefits of tripling renewable energy capacity, nations must prioritize the modernization and expansion of 25 million kilometers of electricity grids by 2030, as well as the development of 1,500 gigawatts of energy storage capacity,” the report states.

IEA Executive Director Fatih Birol underscored the transformative potential of the COP28 energy goals, noting that they could place the global energy sector on a path to a more secure, affordable, and sustainable future.

"To ensure we don’t miss this significant opportunity, immediate focus must shift towards implementation," Birol said.

He also stressed that international cooperation will be essential to build resilient grids, increase energy storage, and accelerate electrification—key components for speeding up the clean energy transition.

The report also emphasizes the importance of a tailored, country-specific approach to doubling energy efficiency by 2030.

Achieving this would not only cut global energy costs by nearly 10 percent, but also lower emissions by 6.5 billion tonnes and enhance energy security worldwide.

Although nations at COP28 pledged to double energy efficiency efforts, the IEA warned that reaching this target will require governments to prioritize efficiency in their policies.

Countries must incorporate renewable energy and efficiency goals into their national climate action plans under the Paris Agreement.

The IEA report also notes that global energy sector emissions hit a record high last year.

Meeting the COP28 targets by tripling renewable energy and doubling energy efficiency could prevent an estimated 10 billion tonnes of greenhouse gas emissions by 2030 compared to current projections.

The report's release coincides with Climate Week NYC, where leaders from government and industry are gathering to drive forward global efforts to combat climate change.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Close menu