/A solar plants can help reduce the carbon footprint

A solar plants can help reduce the carbon footprint

A plan to coordinate the global introduction of clean technologies in order to rapidly drive down their cost has been agreed at the Cop26 summit by world leaders representing two-thirds of the world’s economy.

A global transition to green energy and vehicles is vital in tackling the climate crisis, and economies of scale mean that costs plummet as production increases – as already seen with solar panels and LED lightbulbs.

More than 40 nations said they would align standards and coordinate investments to speed up production and bring forward the “tipping point” at which green technologies are more affordable and accessible than fossil-fuelled alternatives. At that point, the green transition and cuts in climate emissions accelerate rapidly towards a net-zero economy.

Among the countries signed up to the Breakthrough Agenda are the UK, US, China, India, the EU and Australia. The first five breakthroughs will be clean electricity, electric vehicles, green steel, hydrogen and sustainable farming. The aim is to make these affordable and available to all nations by 2030 and create 20m new jobs.

“By making clean technology the most affordable, accessible and attractive choice, the default go-to in what are currently the most polluting sectors, we can cut emissions right around the world,” said Boris Johnson, prime minister of the UK, which is hosting Cop26.

Under the 2015 Paris climate accord, nations committed to restricting global temperature rises to ‘well below 2C
What is Cop26 and why does it matter? The complete guide
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“The Glasgow Breakthroughs will turbocharge this forward so that by 2030 clean technologies can be enjoyed everywhere, not only reducing emissions but also creating more jobs and greater prosperity,” said Johnson, who launched a £3bn finance package on Monday to support green technology in developing countries.

New plans include a global electricity initiative launched by the UK and India and endorsed by 80 nations. The Green Grids Initiative aims to mobilise political will and finance to create international super grids on all continents and to link up sunny deserts and windy coasts with population centres. By connecting many locations, super grids are key to providing reliable electricity from renewable energy that may be locally intermittent.

Another new initiative is the Global Energy Alliance for People & Planet, which is focused on producing clean electricity across the global south. It has an initial $10bn from the World Bank, Rockefeller Foundation, Bezos Earth Fund and others. The UK and Scandinavian pension funds also announced on Tuesday they would invest $130bn in clean energy by 2030.

Source: www.theguardian.com