CLIMATE DRAFT CALLS FOR TRIPLING RENEWABLE ENERGY CAPACITY
Why in the News?
- The latest draft at the UN’s climate summit proposes a significant shift toward renewable energy.
Source: Statista
Key Highlights of the Draft:
- The Global Stocktake suggests tripling renewable energy capacity globally by 2030 as an option.
- Emphasis on strategically implementing the increase to replace fossil fuel-based energy and reduce reliance on non-renewable sources.
Controversial Clause and India’s Stance:
- The draft faces controversy as it includes conditions for the phase-out of fossil fuels along with the renewable energy proposal.
- India expresses reluctance, citing the clause as “prescriptive” and stating that it won’t support such conditions.
- The draft removes the clause for a “just and orderly phase-out of fossil fuel,” replacing it with options to phase out fossil fuels to limit global temperature rise.
India’s Response:
- Climate Financing: India shifts focus to the critical issue of climate finance during negotiations.
- Lack of clear Definition: Calls attention to the lack of a clear definition and transparency in climate finance, hindering trust.
- Emphasizes the need to define climate finance, linking it to the clean energy transition, technology access, and meeting commitments under the Paris Agreement.
The draft envisions a global transition to renewable energy, faces resistance from India due to perceived unacceptable conditions, and emphasizes the necessity of defining climate finance for a transparent and effective climate action plan.