During the UN climate talks at the COP28 summit, 118 countries signed a pledge to triple the world’s renewable energy capacity by 2030. The chief goal is to reduce the share of fossil fuels in global energy production.
COP28 is the 28th climate change conference of the United Nations, which is being held in Dubai from 30th Nov -12th Dec 2023.
The major countries that have made this commitment include Japan, Australia, Canada, Chile, Brazil, Nigeria, and Barbados. Although India and China have previously shared this support for this cause, they have not formally signed the pledge yet.
Under this pledge, countries will make efforts to scale up clean energy capacity and reduce the use of fossil fuels. The agreement also calls for the phase-down of unabated coal-based energy and the discontinuation of funding for new coal power plants.
‘Unabated’ here refers to the rampant use of coal, oil, and gas without taking steps to lower emissions.
Indian Prime Minister Narendra Modi also spoke at the summit and urged developed countries to completely cut down their carbon footprint by 2050. Moreover, he stated that multilateral development banks should introduce affordable climate finance.
Additionally, PM Modi also proposed to host the Conference of the Parties of the UNFCCC (COP 33) in India in 2028.
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Resource: ET Energy
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