Global leaders reached a historic agreement at COP28 to triple renewable energy by 2030 to keep a 1.5°C pathway within reach – but the world will have to overcome five key challenges to turn words into action. As the annual climate summit comes to a close in Dubai, much of the focus has centred on language around the phasing out of fossil fuels. Near unanimous condemnation of the first draft of the agreement has made way for a split verdict on the final text released today (Wednesday). Where there is certainly widespread celebration however is the summit agreement – dubbed “the UAE Consensus” – calling on countries to triple their renewable energy capacity globally by the end of the decade. That followed representatives of at least 130 countries having separately pledged to hit that same target. That will mean increasing installed renewables from 3.4TW of capacity globally at the end of last year to 11TW by 2030. “Tripling renewable capacity worldwide is the si
Ørsted, headquartered in Denmark, is a global leader in offshore wind energy and a major player in renewable energy development. The company has implemented various strategies to drive its success in the green energy sector. As of my last knowledge update in January 2022, here are five key strategies that Ørsted has pursued: Offshore Wind Leadership: Ørsted has strategically positioned itself as a leader in offshore wind energy. The company has invested heavily in the development, construction, and operation of offshore wind farms. They have a strong focus on technological innovation, constantly working to improve the efficiency and performance of offshore wind turbines and related infrastructure. Transition from Fossil Fuels to Renewable Energy: Ørsted underwent a significant transformation by divesting its oil and gas assets and redirecting its focus entirely towards renewable energy. This strategic shift demonstrates a commitment to sustainability and reducing dependence on fossil