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This commitment sees over 110 nations supporting tripling the amount of installed renewable energy, to be done by 2030, as part of a pact expected at the COP28 climate summit. The countries which have already made commitment to offer such support are the United States from America, the EU countries, and the United Arab Emirates that will be the host of COP28 meeting.
However, it aims at making substantial reductions of greenhouse gases emission that must be delivered now if we want to avoid further catastrophic impacts of the climate change. By the end of the UN conference some of the proponents would want it to be a universally binding agreement.
At the COP28 summit, European Commission President Ursula von der Leyen stated that more than 110 countries have so far signed the renewable energy pledge. She called on participants to ensure that these objectives find in their way to the last COP decision. This goal is however only possible if significant financial resources can be made available by both governments and corporations.
Although the world has witnessed a growth in renewable projects like solar and wind, present challenges consisting of cost escalations, workforce shortage, disruptions in supply chains etc., have resulted in delays as well as cancellation of projects. This has translated into massive losses to developers like Orsted
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For the final U.N. climate summit decision, there needs to be an agreement among the almost two hundred and one participating countries regarding the inclusion of the renewables pledge. Albeit China and India announced their ambition to grow threefold renewable energy by 2030, yet neither of them has committed so far to whole promise – growing clean energy coupled with slashing coal.
For instance, many countries like South Africa, Vietnam, Australia, Japan, Canada, Chile, and Barbados expressed their support for the renewable energies commitment. Other energy-based activities such as controlling methane gas releases, abandoning the use of coal, and advocating for nuclear technology will accompany the publication of the renewables pledge at COP28.
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