Context
Developing naons should only take the target into consideration at COP28 if the North agrees to fair absolute targets at home.
 
Targets for Global Renewable Energy 
·         COP28’s Renewable Energy Target: The G-20 declaration reflects COP28's goal to triple the world's capacity for renewable energy by 2030, but challenges remain.
·         Current Global Renewable Capacity: Hydropower accounted for 28% of global electricity generation in 2021, despite RES having 39% installed capacity.
·         Implications of Tripling Capacity: Achieving 9000 GW of RES by 2030, primarily from solar and wind, raises problems about feasibility and energy consumption.

Renewable Energy  
·         They are organic, self-renewing, and often leave no or very little carbon imprint.
·         Examples of sources of renewable energy
1.      wind energy
2.      solar energy
3.      Bioenergy (organic matter burned as fuel)
4.      Hydroelectric including tidal energy

Regional Variations and Energy Demand Growth  
·         Diverse Electricity Demand: The demand for electricity varies greatly between nations, with developing countries like China and India seeing significant increase.
·         Impact on Nations: Different nations are impacted differently by the RE target, with the U.S. and EU needing a lower share than India.
·         Challenges of Equal Distribution: Distributing the load unevenly can be difficult for underdeveloped countries and call for major infrastructure improvements.

Equity and accountability in Renewable Energy Targets  
·         The research from IRENA is likely to have had an impact on the COP28's worldwide RE target, which reflects the described inequitable reality.
·         Absolute capacity predictions that are not correlated with the expansion of energy demand present difficulties. Targets that are close by are deemed safer. Grid resource allocation and climate finance are still difficult issues.
·         Lack of Domestic Targets: The U.S. and EU, two major proponents, lack specific domestic goals and instead rely on market signals. Only if wealthy countries agree to fair domestic targets should developing countries take the target into consideration.

Way Forward  
·         When India's Prime Minister declared at COP26 that the country would up its goal to 500 GW of non-fossil fuel sources by 2030, no such pledge or objective for renewable energy was made by the president.
·         Apart from a general declaration to decarbonize the energy sector by 2035 (not a commitment under the Paris Agreement).
·         Even while it seems impressive, the EU's ambition of having 40% of final energy consumption come from renewable sources by 2030 is just relative, not absolute.
·         The targets are essentially market signals in both the U.S. and the EU, which the governments will support but which are not guaranteed by government action as in poorer nations.
·         India in particular should only consider the COP28 goal of tripling global RE capacity if the North agrees to absolute domestic targets that are equitable and consistent with their duty.

LTX Mains Question
Q. Describe the difficulties and complications involved in achieving the worldwide goal of tripling renewable energy capacity by 2030, paying particular attention to fair distribution and viability. Examine the significance of wealthy countries establishing national absolute targets for renewable energy in light of the obligations associated with the global climate.