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.
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