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Tripling renewable energy capacity and doubling energy efficiency by 2030 to meet COP28 goals are “feasible”, the International Energy Agency has said in a report.

The document, published on Tuesday, says that while conditions are favourable, hitting the targets – “the North Star for what the energy sector needs to do” – will require a huge push to boost storage capacity and grid connections.

The report: From Taking Stock to Taking Action: How to implement the COP28 energy goals, is the first comprehensive global analysis of what putting the targets into practice would achieve, and how it can be done, the IEA said.

Almost 200 countries agreed at the COP28 climate summit in Dubai last year to reach net zero emissions from the energy sector by 2050, pledging to triple renewable energy capacity like wind and solar.

The IEA report suggests that the renewable energy goal “is within reach thanks to favourable economics, ample manufacturing potential and strong policies” but adds that more renewable capacity by itself will not slash fossil fuel use and reduce costs for consumers.

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