DUBAI: Pledges made so far at the COP28 climate summit will only cut energy-related greenhouse gas emissions by 30% of what is needed by 2030, the International Energy Agency (IEA) said Sunday.
It said in a report that while the pledges are positive steps forward in tackling the energy field’s greenhouse gas emissions, they would not be nearly enough to move the world onto a path to reaching global climate targets, especially the goal of limiting global warming to 1.5 degrees Celsius.
The agency released an assessment of non-binding promises made at COP28 in Dubai, UAE, by governments and the oil and gas industry — tripling renewable energy and doubling energy efficiency by 2030, as well as sharp cuts in methane emissions, according to AFP news agency.
130 Countries Pledge Renewable and Energy Efficiency
According to the UN climate body, 130 nations have inked on to the pledge on renewables and energy efficiency.
China historically has been hesitant to pledge in such statements that are not officially through the United Nations (UN) framework.
The 2015 Paris accord set a target of keeping global warming to no more than 1.5 degrees Celsius above pre-industrial levels to avert the worst ravages of climate change, including rising storms, drought, and rising sea levels.
On methane, some fifty oil and gas companies have pledged to zero out emissions and eliminate routine flaring by 2030.
