At the UN climate summit in Dubai, 118 governments, including the EU, U.S., and UAE, pledged to triple the world’s renewable energy capacity by 2030, aiming to reduce the share of fossil fuels in global energy production, Reuters reports.
The initiative seeks to remove CO2-emitting fossil fuels from the world’s energy system by 2050. While China and India have signaled support for tripling renewable energy, they did not back the overall pledge.
Additionally, over 20 nations committed to tripling nuclear power capacity by 2050, emphasizing its role in achieving net-zero emissions.
France proposed measuring climate and financial risks associated with investing in new coal assets, while nearly 50 oil and gas companies, including Exxon Mobil, signed the Oil and Gas Decarbonization Charter to cut operational emissions by 2050.
The Biden administration introduced final rules targeting methane emissions from the US oil and gas industry. Moreover, the Global Methane Pledge saw Turkmenistan and Kazakhstan, major methane emitters, joining the voluntary agreement to reduce methane emissions by 30% by 2030.
