The new IEA report said Tuesday that nations could achieve the commitments made during the COP28 summit in Dubai if they can clear regulatory bottlenecks and modernize the grid.
The report said that tripling renewables and doubling efficiency targets could cut global emissions by 10 billion tonnes by the end of the decade and bring the world two-thirds of the way to meeting the goals of the Paris Agreement.
It also said it would keep the path open to reaching net-zero by 2050 and keep a “slim but difficult” chance of limiting warming to 1.5 degrees Celsius alive.
“As this new IEA report shows, the COP28 energy goals should lay the foundation for countries’ new climate targets under the Paris Agreement – they are the North Star for what the energy sector needs to do,” IEA Executive Director Fatih Birol said.
“And further international cooperation is vital to deliver fit-for-purpose grids, sufficient energy storage and faster electrification, which are integral to move clean energy transitions quickly and securely.”
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