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

25 Sep 2024 CW Team

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)

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..