Renewable energy needs to be ramped up to meet global climate goals

Governments agreed in the 2015 Paris climate accord to limit the global temperature rise to 2 C (3.6 F) ideally no more than 1.5 C above pre-industrial averages

AP Berlin
Solar Power

Solar Power

Listen to This Article

Deployment of new wind and solar power plants needs to be drastically ramped up by the end of the decade to meet the world's climate goals, the International Renewable Energy Agency said Tuesday.

In an advance preview of its annual report on the global shift from fossil fuels to clean energy, the agency said renewables accounted for 83 per cent of new power generation last year. Worldwide, the share of installed power generation coming from renewables reached 40 per cent in 2022, it said.

But in order to halve greenhouse gas emissions by 2030 and put the world on track to cap global warming at 1.5 degrees Celsius (2.7 degrees Fahrenheit), existing targets for renewable power deployment would need to be more than doubled, the Abu Dhabi-based agency said.

Governments agreed in the 2015 Paris climate accord to limit the global temperature rise to 2 C (3.6 F) ideally no more than 1.5 C above pre-industrial averages.

The lower target would prevent significant harm from climate change but is increasingly difficult to achieve given that temperatures have already increased by 1.1 C (2 F) since the 19th century and emissions show no sign of dropping fast.

Experts say the amount of carbon dioxide and other polluting emissions released into the atmosphere by 2050 shouldn't exceed the amount that can be captured through natural or artificial means.

Also Read

India plans big for green energy sector in sync with G20 Presidency

Energy strategies in India, China contest for hegemony on Brahmaputra: Rpt

Karnataka, Gujarat make most progress in clean energy transition: Report

JSW Energy arm bags two battery energy storage system projects from SECI

Indonesian govt promises move to clean energy, but challenges remain

US labour activists push for $20 per hr minimum wage as inflation persists

If layoffs accelerate in next few months, a recession 'will be underway'

Study says warming-fuelled killer tornados to hit South of US more often

Over 71% of funders have set criteria to support philanthropy: AIP survey

6.1-magnitude earthquake hits Japan's Hokkaido island, no casualties so far

A profound and systemic transformation of the global energy system must occur in under 30 years, IRENA Director General Francesco La Camera said at an energy transition conference in Berlin.

The agency has estimated that annual public and private investments in renewable energy need to exceed USD 5 trillion, including for power generation, electrification, transmission grids and efficiency measures.

It called for current fossil fuel investments to be diverted to renewable sources and greater financial help for developing countries that are struggling to fund alternatives to coal, oil and gas power plants.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mar 28 2023 | 8:16 PM IST

Explore News