With less than 10 days until COP29, UNEP-CCC published the 2024 Climate Technology Progress Report, an essential update on the world’s progress in transitioning to renewable energy and meeting ambitious climate targets.
This report arrives at a crucial moment, as COP28 shifts focus towards ending fossil fuel reliance and countries commit to tripling renewable energy capacity and doubling energy efficiency by 2030. Amidst the urgency highlighted by the Global Stocktake, which shows we’re not on track to meet the 1.5°C target, the CTPR provides a comprehensive view of the progress made and the support needed for a technology-driven transition.
The report explores multiple areas including renewable energy adoption rates, feasibility assessments, financing, digitization, and governance.
Here are some key highlights:
🔹 With the integration of energy storage solutions, renewable-powered electricity systems are becoming increasingly viable and cost-competitive with fossil fuel-based systems.
🔹 Many renewable technologies demonstrate high potential for energy system transitions, creating synergies between mitigation, adaptation, and sustainable development.
🔹 Financial resources not only enable capacity growth but also drive significant cost reductions in climate technologies.
🔹 A holistic policy approach that addresses the energy sector, finance, and the broader economy is essential to reduce capital costs and incentivize renewable energy investment, including energy storage.
🔹 Digital innovations, guided by responsible governance, can accelerate renewable energy adoption, enhance mitigation efforts, and deliver cross-sectoral benefits.
🔹 Emerging digital technologies, such as artificial intelligence, are increasingly important for mapping renewable energy potential, boosting efficiency, and creating connections with sectors like water and agriculture.
With key decisions anticipated at COP29, especially around the NCQG, this report will be an invaluable resource for negotiators, policymakers, and industry stakeholders as they build on these findings.
For more details, check out the full report on our website: https://lnkd.in/eKMD9cZX.
🌍 New Report: 2024 Climate Technology Progress Report 🌍
The latest 2024 Climate Technology Progress Report is out now! 📊 This comprehensive report, launched by UNEP Copenhagen Climate Centre, outlines the path to tripling global #renewable #energy capacity by 2030.
With #COP29 on the horizon, the report underscores urgent steps needed to scale up renewable energy, aligning with the Global Stocktake’s call for accelerated climate action and #COP28 pledges.
From lowering capital costs to enhancing enabling conditions, the report highlights actionable insights to support ambitious #NDCs and drive meaningful investments in #ClimateTech.
Dive into the findings and explore what it will take to unleash renewable energy for a #sustainable future👉 https://lnkd.in/d7w_JuCX