Tripling Renewables, Doubling Efficiency Key to Fossil Fuel Phaseout: EMBER
As anticipation builds for a landmark global agreement at COP28, the call to triple renewables capacity and double energy efficiency by 2030 is gaining significant traction.
December 05, 2023. By Abha Rustagi
As anticipation builds for a landmark global agreement at COP28, the call to triple renewables capacity and double energy efficiency by 2030 is gaining significant traction.
COP28 president Sultan Al Jaber is urging governments to unite in establishing these ambitious goals, and support is growing from influential entities like the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA).
The imperative for a global commitment to triple renewables and double energy efficiency is underscored by the momentum toward a fossil fuel phaseout.
The IEA's Net Zero roadmap provides a roadmap for limiting global heating to 1.5 degrees, emphasizing a 65 percent reduction in CO2 emissions from 2022 to 2035.
The latest briefing from Ember, analyzing IEA data, illustrates how tripling renewables and doubling efficiency can drive significant declines in fossil fuel demand, paving the way for a fossil fuel phaseout.
Key insights from the briefing reveal that renewables and efficiency could deliver 85 percent of the required cuts in unabated fossil fuels by 2030.
Emphasising the importance of clean energy transition, Kim Fausing, President and CEO of Danfoss, said, “As the IEA stated in their Energy Efficiency 2023 report, we need much stronger policy packages of information, regulations and incentives, and a tripling of global investment in energy efficiency and electrification, to double annual improvements in energy efficiency – from 2 percent in 2022 to 4 percent per year on average between now and 2030."
Tripling global renewables capacity to 11,000 GW and doubling energy intensity improvements to 4 percent per year by 2030 are identified as critical actions this decade. Unabated fossil fuel use is projected to fall by 29 percent from 2022 to 2030, resulting in a 35 percent reduction in total CO2 emissions.
The evidence presented in the Ember briefing reinforces the idea that renewables and efficiency offer the most substantial opportunity for achieving deep and rapid cuts in CO2 emissions.
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