COP28 Conclusions: Global agreement on Renewables and Sustainability

18 Dec 2023 | Spain

The conclusions reached at COP28 were a historic milestone in the fight against fossil fuels and for decarbonisation. 198 countries signed the Dubai Agreement, which includes the urgent need to limit global warming to 1.5ºC. To this end, the agreement states that global greenhouse gas emissions must be reduced by 43% by 2030 and 60% by 2035 compared to 2019 levels, and achieve net zero carbon dioxide emissions by 2050.

The UN Global Compact summarises the content of the agreement in eight key points that outline the goals and the strategy to be followed to achieve them:

  • 2030 Goals: Tripling global renewable energy capacity and doubling the global average annual rate of improvement in energy efficiency.
  • Coal reduction: Accelerate the phase-down of coal-based energy use.
  • Zero emissions: Move towards globally net-zero emission energy systems using low or zero carbon fuels by or around mid-century.
  • Fossil fuel phase-out: Discontinue the use of fossil fuels in energy systems in a fair and orderly manner, accelerating action in the current decade to achieve net zero emissions by 2050.
  • Clean technology development: Accelerate the development of zero- and low-emission technologies, such as renewable energy, nuclear power, and carbon capture and storage technologies, especially in hard-to-reduce sectors.
  • Non-CO2 gas reduction: Substantially reduce non-carbon dioxide gas emissions globally, with a focus on reducing methane emissions by 2030.
  • Sustainable transport: Accelerate emission reductions in road transport through infrastructure development and the rapid adoption of zero or low-emission vehicles.
  • Elimination of inefficient subsidies: Eliminate inefficient fossil fuel subsidies that do not address energy poverty and just transitions.

Thus, the COP28 conclusions state the importance of expanding the solar photovoltaic self-consumption network, which emerges as an effective and efficient solution to reduce carbon emissions and contribute to the fight against climate change at a global level. In the European context, this option presents significant benefits, aligning with global efforts to achieve a transition towards cleaner and more sustainable energy sources.

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