With the 2030 deadline for doubling energy efficiency and tripling green energy capacity just a few years away, nations are deploying affordable wind and solar energy at record pace. The ongoing 2024 United Nations Climate Change Conference (COP29) in Baku, Azerbaijan has seen a series of announcements that could accelerate the global transition to renewables in time to meet green energy goals.
For starters, the Utilities for Net Zero Alliance (UNEZA) announced that its membership has doubled since its launch at COP28. UNEZA was established under the guidance of the UN Climate Change High-Level Champions and the International Renewable Energy Agency (IRENA).
The Alliance also announced that its membership had spread across 5 continents as well as increased yearly investments in green energy generation capacity and grids, bolstering the COP29 Global Energy Storage and Grids pledge which is officially backed by Sweden, the UK, Belgium and Uruguay.
Another major announcement was from the Latin America Energy Organization (OLADE) which announced that its member nations had set a Regional Target for Energy Efficiency that would result in a pledge to stop building new coal power plants in the region and double the Global Stocktake’s outcome.
AFREC (The African Energy Commission) announced the launch of a continental-level Energy Efficiency Program, Strategy and Action Plan, as well as the establishment of a roadmap for the green energy industry as well as electricity supply, buildings, and appliances as well as the agriculture and transportation sectors.
The Hydro4NetZero-LAC initiative was also launched to modernize and develop renewable hydropower infrastructure to increase the resilience and flexibility of energy systems.
Additionally, 7 Mediterranean nations pledged to generate one terawatt of green energy capacity by 2030 via the Global Renewables Alliance’s and IRENA’s TeraMed initiative. The initiative could potentially draw up to $700 billion in investment and create 3 million new solar energy jobs.
COP26’s breakthrough agenda announced that over 60 nations which currently produce 80% of the world’s greenhouse gas emissions pledged to support several new priority actions dubbed ‘Baku Priority International Action’ to reduce carbon emissions by strengthening partnerships in key sectors and advancing climate action ahead of the 2025 UN Climate Change Conference (UNFCCC COP 30) in Belém, Brazil.
The Breakthrough Agenda also launched the Hydrogen Action Declaration to solicit more political support for scaled-up hydrogen production, with Singapore and Kazakhstan as new signatories. Hydrogen could potentially supplement solar and wind which are intermittent in nature and can only produce energy efficiently in certain conditions.
These efforts by governments and major organizations will complement what for-profit actors like Energy and Water Development Corp. (OTCQB: EAWD) are doing to bring innovations geared at boosting sustainability and clean energy use.
NOTE TO INVESTORS: The latest news and updates relating to Energy and Water Development Corp. (OTCQB: EAWD) are available in the company’s newsroom at https://ibn.fm/EAWD
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