Ahead of the second day of the now-concluded G20 Summit in New Delhi, British Prime Minister Rishi Sunak pledged a record $2 billion to the Green Climate Fund, which plays a pivotal role in financing initiatives and projects meant to tackle climate change on a global scale.
During his address at the summit, the British leader emphasised the urgency of climate action and urged world leaders to assist countries facing the adverse effects of the emergency. Britain is delivering on its climate commitments, Sunak said, as quoted by the Prime Minister’s Office.
But it isn’t the only climate-related commitment made during the event. World leaders have also promised to work towards tripling global renewable energy capacity by 2030. It appears to be an achievable target and its potential impact on reducing emissions is immense.
This single measure could help avoid 7 billion tonnes of carbon dioxide emissions by 2030, according to an assessment by the International Energy Agency (IEA). Not surprisingly, countries have lately been urged to work earnestly towards achieving it as a goal.
Tripling Of Renewable Energy Capacities A Pipe Dream Without Africa
Renewable energy is already being deployed at a rapid pace across the globe. There is no inherent objection among G20 members to its deployment, as the transition is the most preferred way to counter the climate emergency and diversify economies as well.
Nonetheless, tripling of renewable energy capacities within seven years is an ambitious task. About 295 GW of new capacity was added last year. But to triple the total capacity by 2030, the world must add about 1,000 GW of new capacity every year.
It’s an ambitious, yet achievable target – and is something agencies like the IEA and climate activists and civil society organisations have been pushing for. Now, why the G20 grouping’s decision to include the African Union as a permanent member matter here?
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The tripling target could become a pipe dream without the rapid growth in demand from other developing countries, mainly in Africa. The addition of the continental union is expected to provide the right impetus for greater penetration of renewable energy in these countries.
