The World Bank’s Post

World leaders ended their time at #COP28 with the recognition that transitional fuels – such as natural gas – will play a crucial role in ensuring energy security while nations work toward a future powered by renewable energy. https://lnkd.in/dCkim2K9   If you want a more sustainable future, tell your elected officials to stand behind natural gas solutions as we transition to cleaner energy in the United States. https://lnkd.in/eTMB4_Ek

🌿 Our second 2023 milestone celebrates a pivotal moment in energy evolution! Excitingly, at COP28 the parties agreed on tripling global renewable energy capacities by 2030 as well as transitioning away from fossil fuels! On top of that, according to Carbon Brief, the IEA predicts that coal, oil and gas are each on track to reach their peaks before 2030 under existing policies. Stay tuned for more 2023 highlights shaping the future! 🌍 #2023Recap #RenewableEnergy #COP28 #ClimateChange #EnergyTransition 🔗sources:  Carbon Brief: https://lnkd.in/dJFPeihk  World Resources Institute: https://lnkd.in/dzsJcThw.

EU countries saw a 24% drop in power sector emissions in 2023 thanks to #Wind & #Solar. By fully phasing out #FossilFuels & embracing a renewables-based power sector by 2035, we pave the way for a healthier & safer future for our climate & communities.

Amidst the announcements at #COP28, are these initiatives effective in reducing the #emission gap in 2030? The analysis of Climate Action Tracker indicates that a quarter of potential emissions savings is already within government Nationally Determined Contributions (NDCs). Another quarter is both additional and achievable, while the remaining half demands enhanced actions to be effective. To truly move the needle we need: #fossilfuel phase-out, tripling #renewables, and doubling #energyefficiency... and financing must align with these commitments for tangible impact. The Renewable Energy and Energy Efficiency Pledge shines as a beacon. If fully implemented, it could close about a third of the gap between current policies and the 1.5ºC target in 2030. This showcases the potential when ambition meets execution. Read the Climate Action Tracker report here 👇 https://lnkd.in/e3NAKuYw

According to the National Grid Electricity System Operator, here’s how we generated energy in 2023. https://lnkd.in/gcBUZN34 Of note: 📉 Although gas was our largest fuel source in 2023, our use of gas was the lowest it’s been since 2015. 🔌 December 2023 was the 15th month in a row where zero-carbon generation produced more than fossil fuel generation, showcasing our growing use of zero-carbon electricity. ☀️ In April, we achieved the highest ever solar generation at 10.971GW. ⚠️ Whilst these developments are promising, the Climate Change Committee (CCC) - an independent body who advises the government on emissions targets and reports to parliament on progress made in reducing emissions - says that if the UK is to meet its 2050 target of net zero emission then it’s going to have to address the energy mix in the UK, which remains far too reliant on fossil fuels. #netzero #energytransition #decarbonisation

World leaders agreed to triple renewable energy capacity by 2030. That goal is going to be missed unless rich nations find a way to redirect more climate finance to the Global South.

Very interesting Energy Snapshot from the International Energy Agency (IEA): "Tripling global #RenewableEnergy capacity and doubling the rate of #EnergyEfficiency progress – as nearly 200 countries pledged to do at COP28 – would cut greenhouse gas emissions by 10 billion tonnes by 2030 compared with what is currently expected. This would get the world two-thirds of the way to an energy system aligned with the Paris Agreement"

Renewable energy is crucial for a sustainable future, as it provides a clean, inexhaustible source of power that reduces reliance on fossil fuels, cuts greenhouse gas emissions, and mitigates climate change.