G20 members commit to tripling renewable energy, but no consensus on fossil fuel phase-out

  • G20 leaders agreed to triple renewable energy and boost funds for climate-related disasters, but made no progress on phasing out coal.
  • The G20 countries, which account for 80% of global emissions, agreed on the first-ever needed amount to shift to clean energy – $5.9 trillion by 2030 and an additional $4 trillion annually till the end of the decade.
  • Experts are hopeful for an ambitious agreement at the upcoming COP28 event in Dubai, although concerns remain over the absence of a plan to reduce dependency on fossil fuels.
Join 2 million subscribers

A curated newsletter that summarizes the important news at the intersection of Global tech, India Tech and AI.

Delivered 8 AM. Daily.
nextbigwhat We would like to show you notifications for the latest news and updates.
Allow Notifications