The United Nations COP28 panel has approved an agreement to curtail the use of fossil fuels globally. Under the agreement, renewable energy production should as much as triple, envigorating the growth of technology such as solar, wind, and hydropower.
The climate agreement, which is the collaborative effort of more than 200 parties, is primarily concerned with keeping global temperatures from rising above 1.5 degrees Celsius by 2030 — an event that would spell disaster for the planet, according to leading climate scientists. Global greenhouse emissions must be cut by 43% before 2030 to achieve the goal, compared to 2019 levels.
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The COP28 agreement marks the first official acknowledgment that humanity must transition away from fossil fuel sources, a primary contributor to global pollution, and is the first landmark climate pledge since the Paris Agreement in 2015. In a statement, the United Nations acknowledged that member nations have struggled to meet milestones for the Paris Agreement, with geo-political changes posing significant threats to the plan’s success.
Central to the plan is the stocktake, which parties will use to create climate action plans due by 2025. The COP28 urged these plans to be inventive and far-reaching, with the goal of limiting economic turbulence during the transition away from fossil fuels and coal power.
World leaders weren’t the only individuals to shape the agreement. The 200 parties involved in the COP28 agreement also include businesses, Indigenous People, youth, philanthropists, and more.
The agreement has profound implications for the role of renewable energy for the next decade and beyond, as the transition lays the groundwork for new developments and incentive programs at a global scale.
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