COP28 groups call for $10 trillion of renewable energy investment amid historic wind losses
Renewable companies have suffered from rising costs and policy uncertainty.
The president of COP28 and renewable energy groups today called for a tripling of renewable energy capacity by 2030, but despite the appetite of Chief Sustainability Officers for “100% renewable” energy, the investment needed may be too much to ask for a wind sector facing historic losses.
The report was published today during a pre-COP28 event in Abu Dhabi by COP28 President Sultan Al Jaber, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA). It calls on governments and the private sector to increase global renewable energy capacity to at least 11,000 GW in order to meet the Paris Agreement’s 1.5ºC scenario.
