The Global Investments in clean energy are protecting one trillion dollars for grids, storage toward quadrupling sustainable fuels by 2035.
This is contained in an executive summary of the outcomes report on Global Climate Action Agenda at the 30th Conference of Parties in Belem, Brazil.
According to the report, the developing countries are leading the race on industrial decarbonisation, tens of thousands of electric vehicles, thousands of gigawatts of renewable energy, hundreds of clean industrial projects, novel carbon removal technologies.
It stated, “Under the COP 30 Global Climate Action Agenda, the Green Grids Initiative launched at COP26 and the Utilities for Net Zero Alliance (UNEZA) launched at COP28, united with the Clean Energy Ministerial, IRENA, the IEA and others to deliver a global plan. The global plan is to accelerate expansion and resilience of power grids and invest 1 trillion U.S. dollars to triple their collective renewable capacity by 2030. This is what it takes to transition the energy, transport and industry sectors away from fossil fuels, enabling increased energy access.’’
The report said hundreds of million hectares of forest, land and ocean were protected or restored while millions of farmers were transitioning to regenerative agriculture practices.
It said traditional communities and Afro-descendant groups secured land rights of millions of Indigenous peoples.
It noted a total of nine billion U.S. dollars in committed investment, covering more than 210 million hectares of land.
“Also, reaching 12 million farmers across more than 90 agricultural and food commodities building resilience across entire value chains in over 110 countries by 2030. This is how we steward forests, oceans and biodiversity, and how we transform the agriculture and food systems,’’ it said
The report pointed out that 437.7 million people became more resilient than to the race to resilience campaign.
According to the report, 162 companies, cities, and regions covering 25,000 buildings and 400 billion U.S. dollars in annual turnover cut over 850,000 tonnes of COâ‚‚ in 2024 surpassing one million tonnes reduced in total.
“The CHAMP coalition launched at COP28, delivered two-thirds of new nationally determined contributions with stronger subnational and urban content among its 78 members.
“Millions of jobs created, new skills developed to build resilience for cities, infrastructure and water, while fostering human and social development,’’ the report said.
According to the report, trillions of dollars pivot into the transition with new partnerships and innovation to scale finance from the private sector, governments, and financial institutions, including for adaptation finance.
“This is how climate action begins to function as an economy in its own right, one that unleashes finance, technology and capacity-building to reward protection and long-term stability,’’ it said.
(NAN)