Bruce Douglas’ Post

📢 Final COP29 agreement - my initial reaction: "Should have been better - could have been much worse..." "This agreement falls far short of the transformative finance and ambition needed to protect developing countries and supercharge the required energy transition. However, the direction of travel remains clear: the transition to #renewables is unstoppable.   There are some glimmers of hope, with the reaffirmation of the COP28 global stock take (but seemingly without any agreed step forward) and commitments to a roadmap for delivering direct financial support and reform. There is a pledge to increase funding to developing countries to USD 300 Billion per year by 2035 and a roadmap to take that up to 1.3 Trillion per year (mainly from private finance). But, let’s be very clear—this agreement is just a foundation, not a solution, with a lot of obstruction encountered on the way - it lacks the ambition and leadership needed from wealthier nations.   A fair, fast, and fully funded transition must now take priority, with direct investments flowing into renewables for EMDEs and a decisive shift away from fossil fuels. This is the only way to share the enormous benefits of a renewable powered future with everyone.   The renewables industry is already delivering globally, proving its scalability and resilience, but progress depends on immediate and bold government action to provide enabling frameworks and implement the $1.3 trillion roadmap without delay.   Another positive sign was the support of multiple countries for the global energy #storage and #grids pledge. Urgent action and #finance are now required to implement these global targets. Thank you to the COP29 Presidency for a warm welcome, a well organised event, pushing the action agenda and raising awareness in the importance of #Flexibility - essential to triple renewables. Special thanks to my friend and relentless supporter of these energy pledges, Orkhan Zeynalov.   As we look ahead to COP30 in Belém, nations must now step up with specific, action-orientated national plans to deliver a clean, secure and just future for all." 👍 Read UN news article here: https://lnkd.in/eNDm_yjE 👍 Read final COP29 agreement documents here: https://lnkd.in/egPVq4Fw 👍 See Global Renewables Alliance (GRA) action agenda here : https://lnkd.in/eCXqZCgs. #Time4Action #3xRenewables #NowDeliverChange Global Wind Energy Council (GWEC) Ben Backwell | Global Solar Council (GSC) Sonia Dunlop | International Hydropower Association (IHA) Eddie Rich | Long Duration Energy Storage Council (LDES Council) Julia Souder | International Geothermal Association Marit Brommer