Until 2030... $10 billion to support clean energy
At the COP28 conference, the Arab Coordination Group announced the allocation of $10 billion until 2030 to support the clean energy transition in developing countries.
This commitment comes within a strategic plan that includes seven main points to accelerate the global transition to renewable energy sources.
A race against time, which humans are waging, to prevent the Earth’s temperature from rising, for fear of an increase in floods, hurricanes, and desertification, in addition to forest fires, most notably the Amazon, the lung of the Earth, which absorbs 25 percent of the planet’s carbon dioxide.
Therefore, after high-level meetings, COP28 participants renew their commitment to the need to double renewable energy generation.
The Arab Coordination Group, a strategic alliance of regional and international development institutions at the COP28 Conference of the Parties, announced the allocation of $10 billion until 2030 to support the clean energy transition in developing countries.
This commitment comes within a strategic plan that includes 7 main points to accelerate the global transition to renewable energy sources.
In this regard, Jack Curtis, owner of a company that helps the private sector reduce carbon emissions, says: “I think it is important to stop developing new projects that rely on fossil fuels, and start investing in renewable energy, because it will take time. As for the private sector, Business owners must show greater interest in implementing the necessary policies to support the energy transition.”
There are many renewable energy sources, but some of them, such as hydrogen, may take many years of research before being used commercially, so multiple sectors focus on investing in supporting promising clean energy sources, depending on what is available to them, such as sunlight, wind, etc.
Energy project manager at the Bulgarian "Oropis", Martin Katinov, says: "We try as much as possible to obtain clean energy from the energy sources present in our country. We are working to improve energy efficiency and replace sources that generate large gas emissions with other sources. We also seek to invest in hydrogen independently." ".
While expert meetings continue to accelerate the energy transition, at the climate summit more than 60 countries announced their joining of the Global Pledge to Refrigerate, to reduce emissions resulting from this sector globally by 68 percent by 2050.
The laws of physics stipulate that energy is neither destroyed nor created from nothing, but rather transforms from one form to another, and this is what world leaders seek to exploit for the benefit of humanity, by investing in sustainable forms of energy that our planet essentially provides, to prevent the Earth’s temperature from exceeding a catastrophic threshold.
