Published October 02,2023
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Spain and the International Energy Agency (IEA) are internet hosting an worldwide local weather and power summit in Madrid on Monday in hopes of forming a coalition that may revive humanity’s hopes of limiting international warming to 1.5 C (2.7 F) above pre-industrial ranges.
The occasion brings collectively power and local weather ministers from around the globe, in addition to members of civil society and the power trade to get a head begin on discussing emissions targets lower than two months forward of COP28 within the UAE.
A brand new report by the IEA, which says there may be nonetheless hope for assembly the 1.5 C goal, may also be mentioned on the assembly. The report says that the world’s emissions have to peak earlier than 2025 after which fall quickly till they hit internet zero by 2050 or earlier.
“Solar is the name of the game,” stated Fatih Birol, govt director of the IAE. “This year, of all the power plants installed in the world, more than 80% are renewable. And we are seeing an unprecedented electrification of the transportation sector,” he stated, explaining how this yr, one out of each 5 new vehicles offered is electrical in comparison with one out of each 25 vehicles simply two years in the past.
“The best news is that in the last two years, global clean energy investments increased by 40%,” he stated, laying out a few of his optimism for limiting warming.
“This year, we are going to show the world that even without new climate policies, we will see fossil fuels peek before the end of this decade due to market fundamentals,” Birol stated, whereas additionally warning that with out new insurance policies or local weather agreements, the Earth’s temperature would enhance by 2.4 C.
Spain’s Energy and Environment Minister Teresa Ribera stated Monday’s talks can be necessary to agree on the exact particulars of how targets can be reached, together with every little thing from expertise to provide chains, uncooked supplies to particular language for the settlement.
“We know 1.5 C is achievable with the current technologies but will remain out of reach with current policies … We cannot bear just one more year of this failure,” stated Catherine Abreu, director of Destination Zero, giving voice to the civil teams that met in Madrid on Friday.
Abreu insisted on the necessity to part out fossil fuels, beginning with the $13 million price of subsidies that the trade will get every minute, as calculated by the International Monetary Fund (IMF).
Laurence Tubiana, CEO of the European Climate Foundation and one of many architects of the Paris Agreement, highlighted the significance of COP28 as it would maintain the first-ever international stocktake of local weather progress.
“The spirit of the Paris Agreement is still there, but it is really in danger,” she stated. “I think this group can bridge the difference between developed countries and developing countries, and by sharing a rational response to the crisis. It’s just so dangerous that we cannot fight against each other.”
The UAE’s Sultan al-Jaber, president-designate of the upcoming COP talks, introduced in a video message that he has already gotten 20 oil and fuel corporations to remove methane emissions by 2030 and attain internet zero by 2050.
At the tip of the day, the group will supply a press convention to clarify their outcomes.
Source: www.anews.com.tr