At COP28, Ursula von der Leyen announced that over 120 countries support the initiative to triple renewable energies by 2030. This ambitious target represents a major step forward in the fight against climate change. She explains that renewable energies, once installed, provide clean, local energy, contributing to energy independence and reducing costs compared with fossil fuels.
Turning Goals into Reality
Von der Leyen recognizes the challenges involved in achieving this goal, including financial and regulatory obstacles. However, she remains optimistic, stressing that this overall target sends a clear signal to investors and financial markets. It envisages an annual progression to check and adjust the trajectory towards this objective, thus increasing the chances of success.
The Balance between Renewables and Fossils
The transition from fossil fuels to renewable energies is a hot topic at COP28. Von der Leyen hopes to see a clear commitment to a gradual phase-out of fossil fuels by 2050 in the final text. It focuses on carbon pricing as an incentive to move away from fossil fuels, noting that only 23% of global emissions are currently covered by such pricing.
Investment Perspectives in Renewables
The President of the European Commission highlights the importance of this objective in guiding investment in renewable energies. She points out that the clarity of direction taken by the world’s governments reduces the risks for investors, encouraging them to give more support to renewable technologies.
The role of COP28 in the Energy Transition
COP28 is a crucial moment for global climate policy. The conference serves as a platform to debate, negotiate and set targets that will shape the future of energy production. The commitment to renewable energies at COP28 is a strong indicator of the direction global energy policies are taking.
Ursula von der Leyen’s statement at COP28 underlines the urgency and importance of moving to a more sustainable energy mix. The initiative to triple renewable energy capacity by 2030, while planning a phase-out of fossil fuels, represents a balance between economic development and environmental responsibility. This marks a historic turning point in the fight against climate change.
