COP28 | Nearly 120 countries commit to tripling renewable capacity by 2030

(Dubai) A non-binding commitment to triple the world’s renewable capacities by 2030 has been signed by at least 118 countries, or more than half of the states represented at COP28, its president Sultan Al Jaber announced on Saturday.

A press release from the presidency had previously announced 116 countries, and the list grew further shortly after to 118… Whatever the final number, this announcement aims to impose the inclusion of this objective in any final agreement at COP28, this times within the UN framework.

“I need more, I respectfully ask all parties [à la COP] to join us as soon as possible,” said Sultan Al Jaber from the podium of the event, which is being held in Dubai. “This can and will help the world move away from coal” without carbon capture.

Showing the extent of the road that remains to be accomplished, the list provided by the presidency of COP28 does not include the largest producing or consuming countries of fossil fuels: Russia, Saudi Arabia, China, Iran, Iraq, Venezuela, Kuwait , Qatar…

The other countries have committed to “working together” with a view to increasing global renewable energy capacities (wind, solar, hydroelectricity, etc.) to 11,000 gigawatts (GW) by this horizon, compared to around 3,400 GW today, in taking into account “the different starting points and national circumstances” of different nations.

At the end of 2022, global capacities were 3,372 GW, according to the International Renewable Energy Agency (IRENA), dominated by hydro (37%) and solar (31%).

Countries also promised to double the annual rate of progress in energy efficiency until 2030, from 2% to 4%. However, these commitments have no binding value.

The European Union launched an appeal to this effect in the spring, supported by the Emirati presidency of COP28 then successively by the G7 and G20 countries (80% of global greenhouse gas emissions).

“With this global objective, we are sending a very strong message to investors and financial markets. We show the direction of travel. And it is for them a way of “de-risking” their investments because they know that the whole world is moving towards this objective,” said the President of the European Commission Ursula von der Leyen, in an interview with AFP to Dubai.

“There are very compelling arguments in favor of renewables, because once installed, they can produce clean, local energy. So it makes you independent and they are cheaper than fossil fuels,” she argued.