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Far off from tripling renewables |
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Today’s newsletter looks at a new report that finds the world is far off from a landmark goal to triple renewable capacity. It may lead to heated debate at the next UN climate summit taking place in Brazil a little more than three months from now. You can also read and share the full story on Bloomberg.com. For unlimited access to climate and energy news, please subscribe 

A tripling threat

By John Ainger

A landmark pledge made by countries less than two years ago to triple the world’s renewable capacity by 2030 already looks in danger of not being met, a new report finds.

Targets put forward by national governments for the rollout of technologies like wind and solar will bring global installations far short of what countries committed to at the United Nations COP28 summit in 2023, according to Ember, a climate think tank. The renewable goal was agreed in Dubai as part of a hard-fought deal to commit to a transition away from fossil fuel.

Ember calculated the world will hit just 7.4 terawatts of renewable energy capacity by 2030, a little more than double the 3.4 terawatts installed in 2022, based on national targets. The world needs 11 terawatts in order to meet the tripling goal.

“There is a real disconnect between the sort of high level agreement to sign pledges at COP and then the reality of how electricity planning is done,” Katye Altieri, global electricity analyst at Ember, said. “National targets send policy signals to the market and I think countries have lost sight of that.”

Photographer: Prashanth Vishwanathan/Bloomberg

The findings underscore the key issue facing international climate talks, and one that will likely dominate the COP30 summit in the Brazilian city of Belem this November: Countries are very good at talking the talk once a year, but bad at actually implementing the promises they’ve made.

Since Dubai in 2023, there are few signs the world is transitioning away from fossil fuels. Scaling up renewables was supposed to help tackle the demand-side of the equation: the more wind and solar can meet the world’s energy needs, the less countries will need to extract gas, oil and coal.

Ember’s research found only 22 countries have revised their renewable targets since Dubai, and most of those nations are in the European Union, which campaigned for the renewables pledge and have put new laws in place to achieve its objective to cut emissions by 55% by 2030 from 1990 levels.

Group-of-20 nations like China and South Africa are expected to still come forward with more ambitious climate targets this year, but others like Canada, Russia and Turkey have yet to do so, and probably won’t before the summit in Belem, according to Ember.

The US, which hasn't put forward a 2030 renewable target, is very unlikely to do so. President Donald Trump is withdrawing the US from the Paris Agreement and rolling back many of the clean energy programs put in place under Joe Biden, such as the Inflation Reduction Act.

Altieri noted China alone could make a sizeable difference in the global renewable goal, but it won’t be enough to make up for shortfalls elsewhere.

Among some glimmers of good news: India hasn’t updated its ambition, but Delhi’s 2030 target of 500 gigawatts of fossil fuel-free energy is aligned with the tripling goal, the report found. Perhaps surprisingly, Saudi Arabia is also on track for meeting its share, too.

Brazil’s COP30 summit comes 10 years after the Paris Agreement and is seen as the first that will herald a new age of climate diplomacy, one that will focus on implementing the promises made instead of writing the rules to do so. A few days before the conference, the UN will publish its synthesis of countries’ national climate plans and how far off the world currently is from the 1.5C goal. It will be up to Brazil to steer negotiators on the best way to close that gap, including by scaling up clean energy.

Read the full story on Bloomberg.com. 

Exceeding some goals

1,206
This is how many total gigawatts of wind and solar capacity China had installed by last summer, surpassing a target for 2030 six years in advance. 

Reality check

"These trends underscore a stark truth: while renewable energy is scaling faster than ever, global demand is rising even faster. Rather than replacing fossil fuels, renewables are adding to the overall energy mix."
Energy Institute report
While wind and solar expanded last year by 16% — nine times faster than overall energy demand — the growth didn’t fully counterbalance rising consumption needs, according to the institute's Statistical Review of World Energy.

More from Green

The Scottish government has given SSE Plc consent to build what would be the world’s biggest offshore wind farm.

The Berwick Bank wind farm, located off the eastern coast of Scotland could provide power to 6 million homes. The 4.1 gigawatt project has been in development for about a decade and this was the final major stage before it can start bidding for government subsidies in the next wind auction starting in August.

The project could be crucial to the UK’s ability to meet a goal to almost completely decarbonize the power grid by 2030. But its construction also risks adding further costs to consumer bills, already among the highest in the world, as it would likely exacerbate costly constraints on the nation’s electric grid and drive further investments to alleviate them.

The move comes just after a visit to Scotland by US President Donald Trump who voiced his dislike of wind farms, especially ones off the coast of his golf courses there. While Scotland is pivoting from an oil past to lead the world in wind energy, Trump insisted that Aberdeen was the “oil capital of Europe,” and pushed for more expansion in that sector.

Source: Orsted A/S

Meanwhile, Actor Samuel L. Jackson joined a campaign by Swedish energy company Vattenfall AB to promote offshore wind farms, marking the latest area of disagreement between the Pulp Fiction star and the US President.

Luxembourg authorities are investigating possible wrongdoing tied to carbon-credit projects based in China that have been used by European companies to reduce their CO2 footprints.

HSBC Holdings Plc said it did $54.1 billion in deals it categorized as sustainable finance in the first half of 2025, marking a 19% increase from the same period a year ago by Europe’s biggest bank.

Worth a listen

In 2019, a group of law students from Pacific island nations set in motion a case that made it to the world’s highest court: The International Court of Justice.

The students wanted answers to two important questions: what responsibility do countries have to stop climate change? And if countries don’t stop polluting, will they have to pay for the damages?

Now the ICJ has delivered its verdict, and it seems like a huge win for the climate. But is it? Laura Clarke, chief executive officer of legal non-profit ClientEarth, joins Akshat Rathi on the Zero podcast to discuss.

Listen now, and subscribe on AppleSpotify, or YouTube to get new episodes of Zero every Thursday.

People gather on a pier in Tanna, Vanuatu in December 2019. Photographer: Mario Tama/Getty Images AsiaPac

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