News: IRENA has recently published a report which evaluates global progress on the UAE Consensus goals to triple renewable energy capacity and double energy-efficiency improvements by 2030.
About UAE Consensus
- The UAE Consensus is the negotiated outcome of the 28th COP (2023) to the United Nations Framework Convention on Climate Change (UNFCCC).
- It includes the First Global Stocktake (GST) and sets forth a comprehensive plan to keep 1.5°C within reach.
- The first GST, held at COP28, was the first review of global progress toward the Paris Agreement’s goals.
- It concluded that the world is not on track to limit global warming to 1.5 degree C and that current efforts are insufficient.
- Purpose: To assess progress and close implementation gaps to 2030.
- International Agreement: It was agreed by 197 countries and the European Union, forming the most ambitious and wide-ranging climate agreement since COP21.
- Key Goals: It paves the way for a transition away from fossil fuels, tripling renewable energy capacity, doubling energy-efficiency improvements by 2030, and achieving global net-zero emissions by 2050.
- It also establishes actions needed to keep 1.5°C within reach and accelerate global climate ambition.
- It encourages Parties to adopt ambitious economy-wide emission-reduction targets in future NDCs.
- Technology and Carbon Abatement Recognition: The agreement formally recognizes abatement and removal technologies such as CCUS as climate-mitigation tools within the UNFCCC process for the first time.
