IEA: Countries can transform the global energy sector by fully implementing the 2030 goals they agreed at COP28 [View all]

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https://www.iea.org/news/countries-can-transform-the-global-energy-sector-by-fully-implementing-the-2030-goals-they-agreed-at-cop28

Countries can transform the global energy sector by fully implementing the 2030 goals they agreed at COP28
News
24 September 2024

New IEA report shows tripling renewables and doubling energy efficiency are feasible with the right enabling conditions, offering North Star for national policies and international cooperation

Full implementation of the landmark energy goals established at the COP28 climate conference in Dubai last year would drive down greenhouse gas emissions and significantly accelerate the transformation of the global energy sector, according to a new IEA report that can serve as a guidebook for turning countries’ collective pledges into action.

At COP28, nearly 200 countries agreed to work towards an ambitious set of global energy objectives as part of the outcome known as the UAE Consensus – pledging to achieve net zero emissions from the global energy sector by 2050, transition away from fossil fuels, triple renewable energy capacity and double the rate of energy efficiency improvements by 2030, and accelerate the deployment of other low-emissions technologies. The new IEA report, From Taking Stock to Taking Action: How to implement the COP28 energy goals, is the first comprehensive global analysis of what putting the targets into practice would achieve – and how it can be done.

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Yet getting there requires that governments around the world make energy efficiency a much greater policy priority and focus relentlessly on key actions. For advanced economies, this means homing in on electrification, given that doubling efficiency requires pushing electricity’s share of global energy consumption towards 30% by 2030. The report notes that electric vehicles and heat pumps are significantly more efficient than their traditional alternatives. Meanwhile, for emerging economies, stronger efficiency standards – particularly for cooling equipment such as air conditioners – are vital for faster progress. And for countries without full access to modern forms of energy, achieving the Sustainable Development Goal of universal access to clean cooking supplies significantly reduces energy demand, transforms lives and livelihoods, and prevents millions of early deaths.

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