BAKU, Azerbaijan, November 12. We must act swiftly to transform our clean energy goals into tangible results, EU Climate Action Commissioner Wopke Hoekstra said at the ministerial dialogue on "Scaling Investments to Triple Renewable Energy and Double Energy Efficiency", Trend reports.
"Last year in Dubai, we made significant strides in our commitment to a sustainable future. We acknowledged the urgent need to transition away from fossil fuels, making a bold pledge to triple our renewable energy capacity and double our energy efficiency by 2030. This commitment is not just a target for the future; I believe it represents the most prudent investment we can make today.
Renewable energy is a homegrown solution that generates jobs, enhances our energy independence, and, notably, is already more cost-effective than traditional, polluting alternatives. By reaching these ambitious goals, we have the potential to reduce global greenhouse gas emissions by an astounding 10 billion tonnes by the end of this decade. To put this into perspective, that’s more emissions than the entire European Union produces in three years. This vision is bold, yet I firmly believe that it is within our grasp," Hoekstra said.
He noted that Europe experienced an 8 percent reduction in emissions last year, driven by the swift growth of renewable energy sources.
"Today, over half of Europe's electricity is generated from wind and solar sources, outpacing the combined output of all fossil fuels. However, on a global scale, emissions rose by 1.3 percent last year, highlighting the magnitude of our shared challenge. We must accelerate our efforts and transform our clean energy targets into tangible projects across every continent and within each of our economies," the European Commissioner said.
To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened on November 11 at the Baku Olympic Stadium.
The event is the largest organized by Azerbaijan to date and is the first time the region has hosted the event in Azerbaijan. Within COP29, the highest-level event - the summit of world leaders on climate action - will be held on November 12–13.
The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance. The COP29 chairmanship has launched 14 initiatives that include linkages between climate action and the Sustainable Development Goals, including green energy corridors, green energy storage, harmony for climate resilience, clean hydrogen, methane reduction in organic waste, action on green digital technologies, and other topics.
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