Why is it in the news?
- At the annual UN climate summit (COP28), 118 countries signed the Global Renewables and Energy Efficiency Pledge, committing to advance renewable energy and enhance energy efficiency on a global scale.
More about the news
- Triple global installed renewable energy capacity to 11,000GW by 2030.
- Double the global energy efficiency improvement rate to over 4% by 2030.
- Aims to phase down unabated coal power.
- Calls for an end to financing new coal-fired power plants.
- It has the potential to avoid greenhouse gas emissions by about 7 billion tons of CO2 equivalent.
- Accelerate cross-border grid interconnections.
- All G20 countries, excluding India, China, and Russia, signed the pledge. India did not sign, citing commitment in NDCs to install 500 GW of electricity from non-fossil fuel sources by 2030.
| Declaration to Triple Nuclear Energy (DTNE)
· Launched at COP28. · Objective is to triple the world’s nuclear energy capacity. · Endorsed by 20 countries, including the United States, Japan, Ghana, and several European countries. · Recognizes the key role of nuclear energy in achieving global net-zero greenhouse gas emissions by 2050. · India is not part of the DTNE initiative. |
