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Zero: The Climate Race

How to triple renewables by 2030

Zero: The Climate Race

Bloomberg

Technology, Business, Science

4.7219 Ratings

🗓️ 4 December 2023

⏱️ 26 minutes

🧾️ Download transcript

Summary

Tripling renewables is one of the goals the COP28 discussions are circling around. It sounds good, but what will meeting it actually entail? Jenny Chase of BloombergNEF joins Akshat to break down where more investments are needed and why decarbonizing energy is the easy part. 

Zero is a production of Bloomberg Green. Our producer is Oscar Boyd and our senior producer is Christine Driscoll. Special thanks to Kira Bindrim. Email us at [email protected]. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Welcome to Zero. I am Akshatrati. This week, one goal, two technologies, three times the renewables.

0:07.0

It's day five of COP, and it's been busy around here. Over the weekend, we heard leaders

0:24.5

from more than 150 countries wanting to secure a more ambitious deal on tackling climate change.

0:31.2

My country is experiencing devastating impacts of climate change. This crisis must never be seen as a distant threat.

0:41.2

Let's make this call the first one,

0:44.1

where the benefits of our concrete commitments

0:47.0

exceed our excuses and the carbon footprint of the planes we arrived on.

0:56.0

There have already been some significant successes,

0:59.0

including the announcement of half a billion dollars

1:02.0

is set up the loss and damage fund.

1:04.0

And of course, there have been many, many side deals,

1:08.0

which you can read about on Bloomberg.com for free during these two weeks of call.

1:12.6

But a lot still remains to be agreed on, including the goal to triple renewables globally by 2030.

1:20.6

If it's achieved, electricity will be the first economic sector to get on track for net zero by 2050.

1:26.6

Currently, the world has about 3.6 terawatts of renewables installed.

1:31.7

That took us more than two decades to build.

1:34.5

Tripling it would mean getting to 11 terawatts in just seven years.

1:39.0

That is a lot of solar panels and wind turbines to deploy.

1:42.4

And there are other challenges, like building out battery storage and grids all around the world.

1:48.0

So how exactly are we going to do it?

1:50.8

To find out, I spoke with Jenny Chase, one of the lead authors of a new report by Bloomberg

1:55.4

NEF.

...

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