COP31 targets 35% global electrification by 2035
The United Nations has urged governments to accelerate the shift from fossil fuels to electricity, warning that dependence on imported fuels is exposing economies to rising costs, supply disruptions… Read More: https://punchng.com/cop31-targets-35-global-electrification-by-2035/
The United Nations has urged governments to speed up the transition from fossil fuels to electricity, warning that reliance on imported fuels leaves economies vulnerable to rising costs, supply disruptions, and inflation. At COP31 in Antalya, Türkiye, Simon Stiell, the UN Climate Change Executive Secretary, stated that countries must choose between embracing clean energy and continuing to expose households, businesses, and national budgets to fossil fuel market volatility.
The Global Electrification Pledge aims to raise global electricity's share of final energy consumption from 23% to 35% by 2035. The transition is becoming more economically attractive, with renewable energy now cheaper than fossil fuels in most large-scale projects. However, the transition remains uneven, with developing countries needing more financial and technical support.
The COP31 President of Negotiations, Murat Kurum, highlighted the economic consequences of fossil fuel dependence and stressed the need for measurable outcomes at the summit, warning that climate change is exacerbating global crises.
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