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The International Energy Agency (IEA) in a report released on Tuesday said that it is possible to fulfil the goals set at the Conference of Parties 28 (COP28) in Dubai last November, also known as “the UAE Consensus” to achieve tripling of renewable energy to 1500 GW and to doubling the energy efficiency by 2030.

This will make the path to achieving the net-zero target by 2050, which was agreed to by many of the 200 countries. Countries like China will achieve net-zero by 2060 and India by 2070. But it is possible to achieve the green energy transition if member countries are able to keep the policy focus firmly at top of the agenda.

It would not be enough to triple the share of renewable energy like solar and wind power but it will also be necessary to create the storage capacity for the energy being created.

Secondly, it would also be necessary to create energy-friendly buildings and more efficient air-conditioners to double the energy efficiency goal. The report has also noted that exclusive focus on renewables will not be enough. There has to be conscious effort to move away from fossil fuels like coal-fired power stations. This might indeed seem a tall order, but the report says that it is possible to achieve the green energy goal if the implementation is carried out across the countries and across economy sectors.

IEA Executive Director Fatih Birol said, “The goal set by nearly 200 countries at COP28 can be transformative for the global energy sector, putting it on a fast track towards a more secure, affordable and sustainable future. To ensure the world does not miss this huge opportunity, the focus must shift rapidly to implementation.”

Power-grids for 25 million to 30 million kilometres have to be laid by 2030 to make the electricity systems use more from renewable energy. Birol emphasised: “And further international cooperation is vital to deliver fit-for-purpose grids, sufficient energy storage and faster electrification, which are integral to move clean energy transitions quickly and securely.”

Only then can this help reduce carbon emissions by 6.5 billion tonnes. The energy transition in developing countries cannot happen on its own. The developing countries would need help in terms of technology transfer and financial assistance. Though many key issues remain to be sorted out in relation to climate change policies, there is consensus that the issue concerns all the countries, and progress has to be made in all the countries to keep global temperatures from crossing the proverbial Rubicon of 1.5 Degrees Celsius from the pre-industrial era levels because climate experts have set that figure as the tipping point after which there is no return.

Global temperatures are hovering around 1.4 degrees Celsius, and with temperatures touching new highs every year, the climate situation is on the brink of danger and collapse. International efforts have to be concerted and intense to avoid climate catastrophe. The sense of crisis has sunk into the minds of most international leaders – there are the rare exceptions who deny that there is anything called climate crisis – and large sections of people that there is little time left to save the situation.

So, more people are willing to cooperate to switch to green energy systems like electric cars, use of solar power. This is an important factor in the success of renewable energy policy. What is needed is systemic change, and as has been pointed out in the report, the need to power grids along with increasing storage capacity of renewable power. This requires huge public investments and private sector involvement. The economy at large has to change gears, nothing less would do.