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- 10-16-24 RSO genesis Gold News AM
10-16-24 RSO genesis Gold News AM
Global Renewable Energy is Failing
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What Will It Take to Meet Clean Energy Goals?
IRENA's recent assessment of global renewable energy initiatives reveals a stark gap between the current investment trajectory and what's required to achieve the climate goals set at COP28. The agency points out that while renewable energy investments have hit record levels, global efforts are only halfway to the target of tripling renewable capacity and enhancing energy efficiency by 2030.
This shortfall means an immediate and sharp increase in spending is imperative, with an estimated need for $1.5 trillion annually, aggregating to $31.5 trillion over the next six years. The focus is particularly on the developing world, where the transition to renewables is crucial yet financially challenging.
The implications of IRENA's findings are profound, signaling not just a call for more funds but also for strategic policy shifts and technological innovations in the renewable energy sector. Achieving the COP28 targets will require not only financial commitment but also a robust framework of policies that encourage and enable the rapid deployment of renewable technologies. The global community faces a pivotal moment where the urgency of climate action must translate into tangible, accelerated efforts in financing, policy-making, and innovation to steer towards a sustainable energy future.
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