COP28 goals could slash global emissions by 10 billion tonnes: IEA
POWER & RENEWABLE ENERGY

COP28 goals could slash global emissions by 10 billion tonnes: IEA

The International Energy Agency (IEA) has outlined a roadmap that could see global emissions cut by 10 billion tonnes by 2030 if nations implement key actions agreed upon at last year's COP28 summit in Dubai. During the recent United Nations General Assembly in New York, the IEA emphasised the potential of the COP28 goals, known as the UAE Consensus, to triple renewable energy capacity and double energy efficiency worldwide.

The IEA’s strategy calls for modernising 25 million kilometers of electricity grids and scaling energy storage to 1,500 gigawatts by 2030, including 1,200 gigawatts from battery storage. This represents a 15-fold increase in storage capacity, which is essential for managing the rise in renewable energy generation.

Fatih Birol, Executive Director, IEA  stressed the importance of swift action: ""The COP28 targets can be transformative, placing the global energy sector on a path to a secure, affordable, and sustainable future. The shift towards implementation is critical.""

Doubling energy efficiency by 2030 could reduce global energy costs by 10% and cut emissions by 6.5 billion tonnes, the IEA notes. However, this requires major policy changes, particularly in advanced economies, with a focus on electrification. For emerging economies, improving efficiency standards, especially in cooling systems, will be vital.

Achieving these goals would mark a significant step toward meeting the Paris Agreement's climate targets.

(ET)

The International Energy Agency (IEA) has outlined a roadmap that could see global emissions cut by 10 billion tonnes by 2030 if nations implement key actions agreed upon at last year's COP28 summit in Dubai. During the recent United Nations General Assembly in New York, the IEA emphasised the potential of the COP28 goals, known as the UAE Consensus, to triple renewable energy capacity and double energy efficiency worldwide.The IEA’s strategy calls for modernising 25 million kilometers of electricity grids and scaling energy storage to 1,500 gigawatts by 2030, including 1,200 gigawatts from battery storage. This represents a 15-fold increase in storage capacity, which is essential for managing the rise in renewable energy generation.Fatih Birol, Executive Director, IEA  stressed the importance of swift action: The COP28 targets can be transformative, placing the global energy sector on a path to a secure, affordable, and sustainable future. The shift towards implementation is critical.Doubling energy efficiency by 2030 could reduce global energy costs by 10% and cut emissions by 6.5 billion tonnes, the IEA notes. However, this requires major policy changes, particularly in advanced economies, with a focus on electrification. For emerging economies, improving efficiency standards, especially in cooling systems, will be vital.Achieving these goals would mark a significant step toward meeting the Paris Agreement's climate targets.(ET)

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement