A five-point plan to boost renewable energy

By Educrat IAS Academy | | 0 comment | 28 July, 2022 | 0

Fossil fuels are the cause of the climate crisis.

Renewable energy can limit climate disruption and boost energy security. Renewables are the peace plan of the 21st century.
But the battle for a rapid and just energy transition is not being fought on a level field.
We must reduce emissions by 45 per cent by 2030 and reach net-zero emissions by mid-century.
But current national commitments will lead to an increase of almost 14 per cent this decade.

Fast-tracking :We must cut the red tape that holds up solar and wind projects.
We need fast-track approvals and more effort to modernise electricity grids.
Shifting energy subsidies:The world must shift energy subsidies from fossil fuels to protect vulnerable people from energy shocks and invest in a just transition to a sustainable future.
Increase investment in renewables:We need to triple investments in renewables.
This includes multilateral development banks and development finance institutions, as well as commercial banks.
Renewable energy technology as global good:We must make renewable energy technology a global public good, including removing intellectual property barriers to technology transfer.
Improve global access: We must improve global access to supply chains for renewable energy technologies, components and raw materials.
Shipping bottlenecks and supply-chain constraints, as well as higher costs for lithium and other battery metals, are hurting the deployment of such technologies and materials.