COP28 pledges meet only 30pc of energy emission cuts: IEA

DE Online Desk
Pledges made so far at the COP28 climate summit will only reduce energy-related greenhouse gas emissions by 30 percent of what is needed by 2030, the International Energy Agency (IEA) said Sunday.
“While the pledges are positive steps forward in tackling the energy sector’s greenhouse gas emissions, they would not be nearly enough to move the world onto a path to reaching international climate targets, in particular the goal of limiting global warming to 1.5 degrees Celsius,” it said in a report, reports AFP.
The agency released an assessment of non-binding promises made in Dubai 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 the UN climate body, 130 countries have signed on to the pledge on renewables and energy efficiency.
Not signing are China, the world’s largest greenhouse gas emitter, as well as fellow developing giant India and major energy exporters Saudi Arabia and Russia.
China, however, committed less formally to the goal of tripling renewables in a joint statement with the United States — which did sign the pledge — after talks in California to prepare for COP28.
Beijing historically has been hesitant to make commitments in such statements that are not officially through the UN framework.
The 2015 Paris agreement set an ambition of keeping global warming to no more than 1.5 degrees Celsius above pre-industrial levels to avoid the worst ravages of climate change including rising drought, storms and sea level rises.
On methane, some 50 oil and gas companies have promised to zero out emissions and eliminate routine flaring by 2030.
Methane — which is highly potent but comparatively short-lived — is responsible for about one-third of the warming from greenhouse gases occurring today, second only to carbon dioxide.
In addition to energy production, animal agriculture is a major source of methane.