02/12/2023 – 20:58
One hundred and eighteen countries, including Brazil, committed this Saturday, 2nd, to tripling global renewable energy production capacity by 2030, according to a commitment made at the United Nations Climate Conference (COP-28), taking place in Dubai . The measure was announced amid initiatives to decarbonize the energy sector, which accounts for three-quarters of greenhouse gas emissions.
Information about the agreement was released by the Reuters news agency. COP President Sultan al-Jaber highlighted that the initiative will help with the energy transition and reduce the use of coal. At the same time, 22 countries, including the United States, announced their intention to triple nuclear energy production capacity by 2050, highlighting that the nuclear source will be vital for cutting emissions in the coming decades.
The renewable energy initiative was led by the European Union, the United States and the United Arab Emirates. Among the supporters, in addition to Brazil, are Nigeria, Australia, Japan, Canada, Chile and Barbados. China and India indicated support, but did not confirm their commitment this Saturday.
The creators want the commitment to be included in the final text of the summit with the aim of making it global. To achieve this, consensus is needed among the more than 200 countries present.
Supporters of nuclear power, which provides 18% of electricity in the United States, say it is a clean, safe and reliable complement to wind and solar power.
But a significant hurdle is financing. Last month, a developer of small nuclear reactors in Idaho said it was canceling a project that was supposed to be part of a new wave of power plants. The cost of building the reactors increased from $5.3 billion to $9.3 billion due to rising interest rates and inflation.
Britain, Canada, France, Ghana, South Korea, Sweden and the United Arab Emirates were among the 22 countries that signed the declaration to triple capacity from 2020 levels.
Tripling nuclear power capacity by 2050, which would also help Europe reduce its dependence on Russian oil and gas, would require significant investment. In advanced economies, which hold nearly 70% of the world’s nuclear capacity, investment has stagnated as construction costs have soared and projects have gone over budget and faced delays.
In addition to cost, another obstacle to expanding nuclear capacity is that plants have slower construction speeds than many other forms of energy.
Oil companies
The world’s main oil producers, including those from the United States, announce new plans in Dubai this Saturday, 2, to significantly reduce methane from their operations.
The agreements include an unprecedented pact by 50 of the world’s largest oil companies, which includes state-owned giants such as Saudi Aramco, along with large corporations such as ExxonMobil, committing to virtually eliminate methane emissions from their oil production activities. drilling and production. This also includes new government regulations in the United States and other countries, as well as international monitoring efforts aimed at holding companies to account for their promises.
The industry has focused on methane because it is a super pollutant commonly emitted by industrial operations. Scientists argue that emissions must be reduced quickly to reach the ambitious goal of the 2015 Paris climate agreement, which aims to prevent warming from exceeding 1.5°C above pre-industrial levels. (WITH INTERNATIONAL AGENCIES)
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