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COP28:  117 Nations Pledge To Triple Renewable Energy Capacity By 2030

Daud Olatunji

In a groundbreaking announcement, president of the ongo­ing 28th meeting of the United Nations Conference of the Par­ties (COP28), President Sultan Al-Jaber reveals a historic commitment from 117 countries to triple the world’s renewable energy capacity by 2030.

 The non-binding agreement aims to collectively double the global energy efficiency rate, urging urgent collaboration to shift away from unabated coal.

President Al-Jaber emphasizes the critical need to fix current energy practices, mitigate emissions on a gigaton scale, and rapidly transition to zero-carbon alternatives. 

He said this while speaking at the World Climate Action Summit at the ongoing COP28 in Dubai, the United Arab Emirate.

He said the countries will “work together” to bring glob­al renewable energy genera­tion capacity to at least 11,000 gigawatts by the end of the decade.

Al Jaber also noted that the countries are committed to work together in order to collectively double the global average annual rate of ener­gy efficiency improvements to more than four percent per year.

“But I do need more, and I’m kindly requesting all par­ties to come on board as soon as possible please. This can and will help transition the world away from unabated coal.

“The world will break down if we don’t fix the energies we use today. The world will break down if we don’t mitigate the emissions on a gigaton scale. And the world can potentially break down if we don’t rapidly transition to zero-carbon al­ternatives.”

Nigeria’s President Bola Tinubu addresses the COP28 meeting, highlighting Africa’s urgent need for investments in alternative energy.

Despite Africa’s minimal contribution to global carbon emissions, the continent faces a disproportionate economic burden in transitioning to cleaner energy. 

Tinubu emphasizes risk management and advocates for global manufacturers to partner in investing in Africa’s environmental health.

President Tinubu outlines Nigeria’s strategic initiatives, including the rollout of a fleet of 100 electric buses to reduce the country’s carbon footprint and modernize transportation. 

The efforts align with positioning Nigeria and Africa as pioneers in green manufacturing and industrialization, incorporating natural gas as a transition fuel alongside renewable energy sources.

Demonstrating unwavering commitment, President Tinubu appoints key figures to co-chair the Nigeria Carbon Market Activation Plan.

He said “global manufacturers must partner with us to invest in the health of our collective environment. Africa doubles as an unrivaled opportunity in this respect.

We are remov­ing all obstacles that are inhib­iting progress as Africa’s larg­est economy. The investment environment is becoming cleaner and better.

“But how will Africa not be a victim of all these changes? How do we get value for our resources.

“We all agree that the earth is crying for healing, but how do you tell a grandmother to stop using firewood to prepare her food? It is for me to invest in solar energy, alternative energy.

“Here, you must encourage investment, and equally con­sider: how would this invest­ment affect us? Yes, we have the market and sufficient housing that you can electrify with solar panels.

“There is iron ore; there is investment there, too. Risk management is very key for Africa. The opportunities must be translated soonest.

“We are moving forward with urgency, and we will maximize the value given in return for those resources,” President Tinubu said.

This initiative, a collaboration with the Africa Carbon Market Initiative, aims to make Nigeria an investment-friendly destination for carbon market investments, fostering standardized and sustainable industrial practices.

 

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