Berliner Boersenzeitung - COP28 chair urges tripling of renewables capacity by 2030

EUR -
AED 4.220543
AFN 72.388508
ALL 96.069869
AMD 433.653783
ANG 2.056852
AOA 1053.656538
ARS 1602.316393
AUD 1.627158
AWG 2.071119
AZN 1.954639
BAM 1.957206
BBD 2.313763
BDT 140.962519
BGN 1.96404
BHD 0.43391
BIF 3412.606207
BMD 1.149026
BND 1.469526
BOB 7.966794
BRL 6.056166
BSD 1.148826
BTN 105.963064
BWP 15.664392
BYN 3.422323
BYR 22520.902917
BZD 2.310571
CAD 1.570287
CDF 2602.543398
CHF 0.905323
CLF 0.026454
CLP 1044.475571
CNY 7.99291
CNH 7.919291
COP 4250.487208
CRC 539.592433
CUC 1.149026
CUP 30.44918
CVE 111.024626
CZK 24.44554
DJF 204.568778
DKK 7.471792
DOP 70.492583
DZD 151.974943
EGP 60.167035
ERN 17.235385
ETB 180.954804
FJD 2.543885
FKP 0.867444
GBP 0.863976
GEL 3.137121
GGP 0.867444
GHS 12.507131
GIP 0.867444
GMD 84.454608
GNF 10082.700083
GTQ 8.805404
GYD 240.474892
HKD 8.997164
HNL 30.412118
HRK 7.536576
HTG 150.569506
HUF 390.656654
IDR 19516.200819
ILS 3.588528
IMP 0.867444
INR 106.008301
IQD 1504.894474
IRR 1517920.347018
ISK 143.202585
JEP 0.867444
JMD 180.709853
JOD 0.814624
JPY 182.897883
KES 148.690295
KGS 100.482161
KHR 4617.336547
KMF 492.931898
KPW 1034.123085
KRW 1713.237502
KWD 0.352234
KYD 0.957296
KZT 554.753459
LAK 24675.3256
LBP 102895.247939
LKR 357.730169
LRD 210.559301
LSL 19.326656
LTL 3.392774
LVL 0.695034
LYD 7.363355
MAD 10.792749
MDL 19.988537
MGA 4782.665625
MKD 61.652816
MMK 2412.542911
MNT 4103.498066
MOP 9.264938
MRU 45.802311
MUR 53.706171
MVR 17.752803
MWK 1991.648479
MXN 20.438007
MYR 4.516248
MZN 73.433763
NAD 19.326656
NGN 1575.923439
NIO 42.270374
NOK 11.140758
NPR 169.547948
NZD 1.964362
OMR 0.441796
PAB 1.148836
PEN 3.96555
PGK 4.953603
PHP 68.630731
PKR 320.913193
PLN 4.270986
PYG 7456.357939
QAR 4.199154
RON 5.094546
RSD 117.398301
RUB 93.501567
RWF 1676.619365
SAR 4.312118
SBD 9.25163
SCR 17.126377
SDG 690.564479
SEK 10.756207
SGD 1.46884
SHP 0.862067
SLE 28.208659
SLL 24094.505996
SOS 655.37664
SRD 43.170617
STD 23782.511268
STN 24.517618
SVC 10.052311
SYP 126.996044
SZL 19.312045
THB 37.157203
TJS 11.028321
TMT 4.02159
TND 3.393138
TOP 2.766577
TRY 50.767309
TTD 7.790666
TWD 36.723435
TZS 2993.211975
UAH 50.645333
UGX 4337.154309
USD 1.149026
UYU 46.703967
UZS 13890.101941
VES 508.678973
VND 30207.884576
VUV 137.383546
WST 3.142832
XAF 656.434409
XAG 0.014252
XAU 0.00023
XCD 3.105299
XCG 2.070406
XDR 0.818715
XOF 656.434409
XPF 119.331742
YER 274.100137
ZAR 19.244818
ZMK 10342.620646
ZMW 22.372271
ZWL 369.985793
  • CMSC

    -0.0200

    22.97

    -0.09%

  • RBGPF

    0.1000

    82.5

    +0.12%

  • RYCEF

    -0.1500

    16.4

    -0.91%

  • GSK

    0.4700

    53.86

    +0.87%

  • VOD

    0.1520

    14.562

    +1.04%

  • NGG

    -0.5400

    90.36

    -0.6%

  • RIO

    1.4100

    89.24

    +1.58%

  • BCC

    1.6700

    71.67

    +2.33%

  • JRI

    -0.0300

    12.56

    -0.24%

  • BTI

    1.2300

    61.16

    +2.01%

  • AZN

    1.6500

    191.55

    +0.86%

  • BCE

    0.3921

    25.64

    +1.53%

  • RELX

    0.2900

    34.43

    +0.84%

  • CMSD

    0.0300

    23.02

    +0.13%

  • BP

    0.3600

    43.03

    +0.84%

COP28 chair urges tripling of renewables capacity by 2030
COP28 chair urges tripling of renewables capacity by 2030 / Photo: Tobias SCHWARZ - AFP

COP28 chair urges tripling of renewables capacity by 2030

The president of upcoming UN climate talks Sultan Al Jaber on Tuesday called on participants to drastically ramp up their use of renewable energy ahead of the key summit in the United Arab Emirates later this year.

Text size:

The meeting in November needs "ambitious, transparent and accountable commitments from countries and businesses", Al Jaber said in a speech at the opening of the Petersberg Climate Dialogue, a meeting of climate diplomats in Berlin.

"We will accelerate delivery in sectors like renewables that must triple capacity by 2030 and double it again by 2040," he added.

The summit chief's call echoes a key target laid out by the International Energy Agency.

Al Jaber had already raised the potential target at a closed-door meeting with G7 leaders in Japan last month.

While setting out a goal for faster renewables expansion, Al Jaber, who is also the chief executive of the UAE's state oil company, did not call for a complete end to the use of fossil fuels.

Rather, the future COP28 chair said the focus must be on removing the emissions such fuels produce.

"We must be laser focused on phasing out fossil fuel emissions, while phasing up viable, affordable zero-carbon alternatives," said Al Jaber.

Climate activists have criticised the decision to hold COP28 in the oil-rich UAE and the choice as COP president of Al Jaber, who also serves as the Gulf state's minister of industry and advanced technology.

- Climate fund -

Al Jaber also used his speech to call on developed countries to deliver a long promised $100-billion climate package for developing countries.

"This is holding up progress. And as part of my outreach, I am requesting donor countries to provide a definitive assessment on the delivery of this commitment before COP28," Al Jaber said.

In 2009, the chaotic UN climate summit in Copenhagen saw rich nations promise $100 billion a year by 2020 to the Global South, but last year the OECD said the amount delivered was still $17 billion short.

At the same time, the funding needed for developing countries to stop burning planet-heating fossil fuels and prepare for future climate disasters has already far outstripped that sum.

Campaigners are pushing for a redesign of the global financial architecture to help countries cope, as many emerging nations grapple with rising costs, soaring debts and extreme weather events.

German Foreign Minister Annalena Baerbock, who is hosting the Petersberg dialogue, however, reported that the pledged sum may finally be close.

"The good news is we are on the way to finally reaching this $100-billion sum this year," she said.

- Protest group -

Earlier this year, the UN’s climate expert panel said the world risks crossing the key 1.5-degree Celsius global warming limit in about a decade, urging a drastic reduction in planet-heating emissions.

While solar and wind power are already increasing dramatically, the UN report said that existing fossil fuel infrastructure will be enough to push the world beyond 1.5C, without the effective use of costly and emerging technology to capture and store the carbon pollution.

The meeting in Berlin came as the German capital was roiled by days of climate protests, with the action continuing Tuesday.

Campaigners from the Last Generation group have caused widespread disruption in the city by sticking themselves to the road surface to stop traffic and agitate for more climate protection.

Among other measures, Last Generation has called for the government to provide a "detailed plan" to meet the goal of a 1.5C-limit and introduce a general speed limit.

Representatives from the group met Germany's Transport Minister Volker Wissing on Tuesday.

Wissing said on radio Deutschlandfunk that he was surprised the activists "make so few sensible suggestions for climate protection and at the same time act so radically".

burs-sea/hmn/kjm

(A.Berg--BBZ)