‘We should be worried’: As COP28 nears, green energy transition is not happening fast enough: Industry experts

FILE - The industrial backdrop of a BP refinery and a Uniper coal-fired power plant are seen in Gelsenkirchen, Germany, March 6, 2023. Six young people from Portugal are arguing on Wednesday, Sept. 27, that governments across Europe aren't doing enough to protect people from the harms of climate change at the European Court of Human Rights.

Experts said that while efforts are underway to shift the world’s energy sector from fossil fuel-based systems towards sustainable practices, the transition is not moving fast enough. “Major disruptions experienced in global energy markets have served as a real wake-up call with regards to the importance of diversification and addressing energy security, and moving ahead as fast as possible in terms of the energy transition,” she said.

Ms Warlick said that the agency’s 2030 recommendations include tripling the amount of installed renewable capacity, doubling the amount of energy efficiency, significantly reducing methane emissions by 75 per cent in the oil and gas sectors, and further progress in electrification of the energy sector.

“If you think that governments deal with governments and businesses deal with businesses, and neither of them actually respond to the needs of society, that's just not reality. The reality is: somebody's got to pay for this transition.” Aside from environmental benefits, governments should embrace the green transition as a way to drive job creation, expand energy access and boost the economy, he said.

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