Tripling renewables and doubling energy efficiency will cut emissions by 10 billion tonnes by 2030: IEA

New Delhi: Tripling renewables and doubling energy efficiency would cut emissions by 10 billion tonnes by 2030, according to a new International Energy Agency (IEA) report.

The report called upon nations to fully implementation of the landmark energy goals established at the COP28 climate conference last year.

At COP28, in Dubai last year nearly 200 countries agreed to work towards an ambitious set of “global energy objectives” to achieve net zero emissions from the global energy sector by 2050, transition away from fossil fuels.

It pledged the triple renewable energy capacity and double the rate of energy efficiency improvements by 2030, and accelerate the deployment of other low-emissions technologies.

The report mentioned that to unlock the full benefits of the tripling goal, countries need to make a concerted push to build and modernise 25 million kilometres of electricity grids by 2030.

“The world would also need 1 500 gigawatts (GW) of energy storage capacity by 2030, of which 1 200 GW needs to come from battery storage, a 15-fold increase on today’s level” the report said.

Speaking about the report, IEA Executive Director Fatih Birol said, “The goals 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”

“As this new IEA report shows, the COP28 energy goals should lay the foundation for countries’ new climate targets under the Paris Agreement – they are the North Star for what the energy sector needs to do. 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.” he added.

The report emphasises the need for a more granular, country-specific approach to achieving the critical goal of doubling energy efficiency by 2030.

“Doing so would potentially cut global energy costs by almost 10%, reduce emissions by 6.5 billion tonnes, and strengthen countries’ energy security” it said.

The report was released during the United Nations General Assembly in New York, which coincides with Climate Week NYC.