Connect with us

Published

on

The world is not yet doing enough to meet a goal to triple renewable energy capacity by 2030 despite “record” growth last year, the first official review of the global commitment made at the COP28 climate summit has warned.

Current national plans and targets would deliver only half of the required growth in renewable power by the end of the decade, according to an assessment by the International Renewable Energy Agency (IRENA) released on Friday.

Except for solar power, planned capacity additions for all other renewable technologies are below the level required to meet the target of tripling renewables to 11.2 terawatts by the end of this decade. Without improvement, they would fall 34% short of that goal.

The world needs onshore wind to triple and offshore wind and geothermal to rise by six and almost 35 times respectively compared to their 2023 capacity, IRENA said.

“The grave reality is that the energy transition on current ambition is not on track and we are risking missing our goals,” said IRENA Director-General Francesco La Camera, launching the report on the sidelines of the Pre-COP meeting in Baku, Azerbaijan.

Insufficient growth

At COP28 in Dubai last year, nearly 200 countries committed to tripling renewable energy capacity and doubling energy efficiency by 2030 – in addition to “transitioning away from fossil fuels” in energy systems – in an effort to limit global warming to 1.5 degrees Celsius.

A “record” 473 gigawatts of renewable power capacity was added globally in 2023, but the growth rate remains insufficient and needs to climb to 16.4% a year to meet the 2030 target, IRENA’s report said.

Progress on structure for new global climate finance goal but trickier divides persist

The agency added that annual investments in renewables are just over a third of the $1.5 trillion needed each year until 2030, despite reaching a record high of $570 billion in 2023. It also highlighted that money is not flowing into all regions equally, with 84% of renewable capacity investments last year concentrated in China, the EU and the US alone.

“While the opportunity for smarter, greener growth has never been greater, unfortunately some parts of the world are missing out,” wrote COP28 President Sultan Al-Jaber in a foreword to the report. “Finance needs to be more available, accessible and affordable,” he added.

Cash to fuel ambition

Countries are expected to agree at COP29 in November on a new collective quantified goal (NCQG) for finance to help fund climate action in developing countries, but deep divisions persist on key issues with only one month to go until the start of the summit in Baku.

The outcome of the climate finance negotiations will likely impact the level of ambition on things like rolling out renewables which developing countries will commit to in their updated climate action plans (NDCs) due to be submitted by February 2025.

IRENA said in its report that the new NDCs must more than double existing renewable energy targets and better align with national energy plans to attract more investment from the private sector.

The agency also urged countries to fix barriers and bottlenecks slowing down progress, including overcoming inadequate infrastructure, fiscal policies and permitting delays.

UN approves carbon market safeguards to protect environment and human rights

Countries have also made little progress in boosting energy efficiency, which remained largely unchanged at an improvement rate of 2% last year. The rate needs to double to at least 4% annually through 2030 in order to meet the COP28 target, IRENA said.

Meeting that goal requires urgent actions and increasing electrification across all sectors, including personal and freight transport, buildings and industry, the report added.

“The next NDCs must mark a turning point and bring the world back on track,” said La Camera.

(Reporting by Matteo Civillini; editing by Megan Rowling)

The post Despite solar surge, world off track for COP28 renewable energy target appeared first on Climate Home News.

Despite solar surge, world off track for COP28 renewable energy target

Continue Reading

Climate Change

Hurricane Helene Is Headed for Georgians’ Electric Bills

Published

on

A new storm recovery charge could soon hit Georgia Power customers’ bills, as climate change drives more destructive weather across the state.

Hurricane Helene may be long over, but its costs are poised to land on Georgians’ electricity bills. After the storm killed 37 people in Georgia and caused billions in damage in September 2024, Georgia Power is seeking permission from state regulators to pass recovery costs on to customers.

Hurricane Helene Is Headed for Georgians’ Electric Bills

Continue Reading

Climate Change

Amid Affordability Crisis, New Jersey Hands $250 Million Tax Break to Data Center

Published

on

Gov. Mikie Sherrill says she supports both AI and lowering her constituents’ bills.

With New Jersey’s cost-of-living “crisis” at the center of Gov. Mikie Sherrill’s agenda, her administration has inherited a program that approved a $250 million tax break for an artificial intelligence data center.

Amid Affordability Crisis, New Jersey Hands $250 Million Tax Break to Data Center

Continue Reading

Climate Change

Curbing methane is the fastest way to slow warming – but we’re off the pace

Published

on

Gabrielle Dreyfus is chief scientist at the Institute for Governance and Sustainable Development, Thomas Röckmann is a professor of atmospheric physics and chemistry at Utrecht University, and Lena Höglund Isaksson is a senior research scholar at the International Institute for Applied Systems Analysis.

This March scientists and policy makers will gather near the site in Italy where methane was first identified 250 years ago to share the latest science on methane and the policy and technology steps needed to rapidly cut methane emissions. The timing is apt.

As new tools transform our understanding of methane emissions and their sources, the evidence they reveal points to a single conclusion: Human-caused methane emissions are still rising, and global action remains far too slow.

This is the central finding of the latest Global Methane Status Report. Four years into the Global Methane Pledge, which aims for a 30% cut in global emissions by 2030, the good news is that the pledge has increased mitigation ambition under national plans, which, if fully implemented, could result in the largest and most sustained decline in methane emissions since the Industrial Revolution.

The bad news is this is still short of the 30% target. The decisive question is whether governments will move quickly enough to turn that bend into the steep decline required to pump the brake on global warming.

What the data really show

Assessing progress requires comparing three benchmarks: the level of emissions today relative to 2020, the trajectory projected in 2021 before methane received significant policy focus, and the level required by 2030 to meet the pledge.

The latest data show that global methane emissions in 2025 are higher than in 2020 but not as high as previously expected. In 2021, emissions were projected to rise by about 9% between 2020 and 2030. Updated analysis places that increase closer to 5%. This change is driven by factors such as slower than expected growth in unconventional gas production between 2020 and 2024 and lower than expected waste emissions in several regions.

Gas flaring soars in Niger Delta post-Shell, afflicting communities  

This updated trajectory still does not deliver the reductions required, but it does indicate that the curve is beginning to bend. More importantly, the commitments already outlined in countries’ Nationally Determined Contributions and Methane Action Plans would, if fully implemented, produce an 8% reduction in global methane emissions between 2020 and 2030. This would turn the current increase into a sustained decline. While still insufficient to reach the Global Methane Pledge target of a 30% cut, it would represent historical progress.

Solutions are known and ready

Scientific assessments consistently show that the technical potential to meet the pledge exists. The gap lies not in technology, but in implementation.

The energy sector accounts for approximately 70% of total technical methane reduction potential between 2020 and 2030. Proven measures include recovering associated petroleum gas in oil production, regular leak detection and repair across oil and gas supply chains, and installing ventilation air oxidation technologies in underground coal mines. Many of these options are low cost or profitable. Yet current commitments would achieve only one third of the maximum technically feasible reductions in this sector.

Recent COP hosts Brazil and Azerbaijan linked to “super-emitting” methane plumes

Agriculture and waste also provide opportunities. Rice emissions can be reduced through improved water management, low-emission hybrids and soil amendments. While innovations in technology and practices hold promise in the longer term, near-term potential in livestock is more constrained and trends in global diets may counteract gains.

Waste sector emissions had been expected to increase more rapidly, but improvements in waste management in several regions over the past two decades have moderated this rise. Long-term mitigation in this sector requires immediate investment in improved landfills and circular waste systems, as emissions from waste already deposited will persist in the short term.

New measurement tools

Methane monitoring capacity has expanded significantly. Satellite-based systems can now identify methane super-emitters. Ground-based sensors are becoming more accessible and can provide real-time data. These developments improve national inventories and can strengthen accountability.

However, policy action does not need to wait for perfect measurement. Current scientific understanding of source magnitudes and mitigation effectiveness is sufficient to achieve a 30% reduction between 2020 and 2030. Many of the largest reductions in oil, gas and coal can be delivered through binding technology standards that do not require high precision quantification of emissions.

The decisive years ahead

The next 2 years will be critical for determining whether existing commitments translate into emissions reductions consistent with the Global Methane Pledge.

Governments should prioritise adoption of an effective international methane performance standard for oil and gas, including through the EU Methane Regulation, and expand the reach of such standards through voluntary buyers’ clubs. National and regional authorities should introduce binding technology standards for oil, gas and coal to ensure that voluntary agreements are backed by legal requirements.

One approach to promoting better progress on methane is to develop a binding methane agreement, starting with the oil and gas sector, as suggested by Barbados’ PM Mia Mottley and other leaders. Countries must also address the deeper challenge of political and economic dependence on fossil fuels, which continues to slow progress. Without a dual strategy of reducing methane and deep decarbonisation, it will not be possible to meet the Paris Agreement objectives.

Mottley’s “legally binding” methane pact faces barriers, but smaller steps possible

The next four years will determine whether available technologies, scientific evidence and political leadership align to deliver a rapid transition toward near-zero methane energy systems, holistic and equity-based lower emission agricultural systems and circular waste management strategies that eliminate methane release. These years will also determine whether the world captures the near-term climate benefits of methane abatement or locks in higher long-term costs and risks.

The Global Methane Status Report shows that the world is beginning to change course. Delivering the sharper downward trajectory now required is a test of political will. As scientists, we have laid out the evidence. Leaders must now act on it.

The post Curbing methane is the fastest way to slow warming – but we’re off the pace appeared first on Climate Home News.

Curbing methane is the fastest way to slow warming – but we’re off the pace

Continue Reading

Trending

Copyright © 2022 BreakingClimateChange.com