As world leaders gathered this week for the COP28 climate summit in Dubai, a major announcement was made that could accelerate the transition to renewable energy worldwide. According to a recent Bloomberg article, the US and EU are leading a push for countries to endorse tripling the share of renewables in the global energy mix by 2030.
This bold target, while ambitious, is a necessary step if we want to avoid the worst impacts of climate change. The article highlights several key takeaways from the negotiations at COP28:
This bold target, while ambitious, is a necessary step if we want to avoid the worst impacts of climate change. The article highlights several key takeaways from the negotiations at COP28:
- The US and EU rallied over 100 countries to support the target of increasing the renewable energy share from 10% currently to 30% by 2030. This would require massive investments in wind, solar and other renewables globally.
- The pledge was part of a broader agreement called the Clean Energy Alliance that aims to phase out coal power and boost funding for developing nations to adapt to climate change. $100 billion per year was already pledged, but more financing is needed.
- While many nations backed the renewables goal, some key countries like China and India have not yet committed. Winning over these major emitters will be crucial for the target to be achievable.
- Even if the goal is met, experts say more action is needed beyond 2030 to reach net zero emissions by 2050. But it’s an important stepping stone to signal the momentum and urgency needed.
At Conscious Growth, we believe business can and must be a force for good. The climate crisis demands courageous leadership willing to take bold steps for the future of humanity. That’s why we’re building a community of purpose-driven leaders committed to conscious business practices that benefit all people and the planet.
The renewables target announced at COP28 gives us hope that, together, we can transition our economies and societies to run on clean energy. But we must act quickly and collaborate across borders to turn this vision into reality. The technology exists – now we need the will power.
We invite all changemakers, innovators and climate advocates to join our mission. Together, we can lead the movement toward a just, sustainable and prosperous future for all. Will you join us?
Read the full Bloomberg article here.
The renewables target announced at COP28 gives us hope that, together, we can transition our economies and societies to run on clean energy. But we must act quickly and collaborate across borders to turn this vision into reality. The technology exists – now we need the will power.
We invite all changemakers, innovators and climate advocates to join our mission. Together, we can lead the movement toward a just, sustainable and prosperous future for all. Will you join us?
Read the full Bloomberg article here.
