Global Commitments Open Doors
Despite disappointments after Cop28, global consensus emerges as nations commit to a transition away from fossil fuels. The Dubai text becomes a cornerstone for reshaping the world’s energy systems.
Financial Overhaul for Net-Zero Goals
To achieve the 2050 net-zero targets, a seismic financial shift is imperative. Clean energy spending must skyrocket from €410 billion to nearly €1 trillion annually, pushing renewables from 20% to an ambitious 85% of the overall energy mix.
Ireland’s Aspirations and Hurdles
Ireland sets a bold target of 80% renewable electricity by 2030, requiring an initial investment exceeding €20 billion. Beyond electricity, significant funding is essential for transport electrification, home efficiency, and various other sectors.
Capital Mobilization Challenges
Public funding falls short; success hinges on mobilizing capital from diverse sources. Insurers, pension funds, and innovative local schemes redirect funds toward renewables, but attracting private capital for transition assets remains a challenge.
Source：irishtimes.com
