COP28 Series: Energy And Energy Efficiency

Last year's 28th edition of the conference of the parties was notable for the pledge in the final draft of the agreement to "transition away" from fossil fuels. Whilst many parties were unhappy that the statement was not stronger, this still represents a big step in the global transition towards net zero. However, given that renewable energy only made up 7.5% of our current primary energy usage (total energy used at source) in 2022, there is clearly some way to go before we can complete the switch to a new energy paradigm based on renewables. Transitioning away from our fossil fuel based world will require large gains in the world's capacity to generate energy renewably and also to use the energy we produce more effectively. At COP28, world leaders agreed to both triple global installed renewable capacity to 11,000GW, and double the global average rate of energy efficiency improvement by 2030.