During the recent United Nations General Assembly in New York, the International Energy Agency (IEA) presented a strategic plan to meet the ambitious targets set at COP28, also named the UAE Consensus.
The plan emphasizes achieving net-zero emissions from the global energy sector by 2050, a critical step in fighting against climate change. Achieving net-zero emissions means balancing greenhouse gas production with the amount removed from the environment, and eliminating excess pollution.
According to the IEA, the goals set at COP28 could cut 10 billion tonnes from global emissions, if the right decision is made at the right time.
The main focus is the shift from fossil fuels, such as coal and oil, to cleaner, and lower-emission technologies. This significant development in renewable sources should go hand in hand with the large-scale infrastructure required for low-emission transitions.
For example, modernizing 25 million kilometers of electricity grids worldwide is necessary to support the growing use of renewable energy.
A significant part of the strategy involves increasing energy storage capacity to 1,500 gigawatts by 2030, with 1,200 gigawatts coming from battery storage.
This would represent a 15-fold increase from current levels and is essential to managing the future rise in renewable energy generation. Energy storage ensures that renewable power, like solar and wind, is available even when the sun isn’t shining or the wind isn’t blowing.
Executive Director of IEA Fatih Birol stressed that immediate action has to be taken. He believes the goals set by nearly 200 countries at COP28 could transform the global energy sector.
With timely implementation, these goals could create a more secure, affordable, and sustainable energy future for the world. On a path to reducing emissions, the strategy offers a way to fight climate change and promote environmental sustainability on a global scale.
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