- The European Union, United States and the United Arab Emirates' COP28 climate summit hosts are rallying other governments to join a global deal to triple renewable energy this decade at the upcoming summit, documents shared with Reuters showed.
"We have the solutions at hand, and we have already made huge strides in expanding the global renewable energy capacity and becoming more energy efficient," said the letter, seen by Reuters. The letter said the green goals should be a"global" effort. But to become part of the formal outcome of the U.N. COP28 talks, they must pass the tough political hurdle of winning unanimous approval from the nearly 200 nations represented in U.N. climate negotiations.
The draft pledge would commit governments to adopt more ambitious policies to scale up renewable energy and develop financing schemes to reduce the high cost of capital that has stymied renewable energy projects in developing nations.