• Home
  • Agric
  • Sci & Tech
  • Health
  • Environment
  • Hausa News
  • More
    • Business/Banking & Finance
    • Politics/Elections
    • Entertainments & Sports
    • International
    • Investigation
    • Law & Human Rights
    • Africa
    • ACCOUNTABILITY/CORRUPTION
    • Hassan Gimba
    • Column
    • Prof. Jibrin Ibrahim
    • Prof. M.K. Othman
    • Defense/Security
    • Education
    • Energy/Electricity
    • Entertainment/Arts & Sports
    • Society and Lifestyle
    • Food & Agriculture
    • Health & Healthy Living
    • International News
    • Interviews
    • Investigation/Fact-Check
    • Judiciary/Legislature/Law & Human Rights
    • Oil & Gas/Mineral Resources
    • Press Freedom/Media/PR/Journalism
    • General News
    • Presidency
  • About Us
    • Contact Us
    • Board Of Advisory
    • Privacy Policy
    • Ethics Policy
    • Teamwork And Collaboration Policy
    • Fact-Checking Policy
    • Advertising
  • Media OutReach Newswire
    • Wire News
  • The Stories
Facebook Twitter Instagram
Trending
  • CAPPA highlights media’s role in reducing NCD
  • Chrisland university awards first-class degrees amid growing enrolment
  • Women farmers learn smart agriculture techniques in Abuja
  • African experts call for urgent action to reduce maternal deaths
  • Climate inaction costs lives as adaptation finance lags—UNEP
  • NPC strengthens data-driven leadership with new acting chairman
  • UNIBEN empowers students with car servicing skills
  • WHO warns climate inaction threatens global health
Facebook Twitter Instagram YouTube
AsheNewsAsheNews
  • Home
  • Agric

    Women farmers learn smart agriculture techniques in Abuja

    October 29, 2025

    N-HYPPADEC distributes farm inputs, relief materials to member states

    October 29, 2025

    LIFE-ND project boosts agribusiness skills for rural Delta communities

    October 29, 2025

    Nigeria’s livestock industry set for strategic transformation

    October 29, 2025

    Leventis foundation, NYSC to reward top young agripreneurs

    October 29, 2025
  • Sci & Tech

    NITDA calls for joint action to drive Nigeria’s digital growth

    October 29, 2025

    UNESCO launches biodiversity business training in Cross River

    October 29, 2025

    New horizons wins Africa’s best ICT training award

    October 29, 2025

    Digital transformation central to Enugu’s $30bn economy goal, says SSG

    October 29, 2025

    Kebbi gov highlights technology as key to teaching success

    October 29, 2025
  • Health

    CAPPA highlights media’s role in reducing NCD

    October 29, 2025

    African experts call for urgent action to reduce maternal deaths

    October 29, 2025

    NPC strengthens data-driven leadership with new acting chairman

    October 29, 2025

    WHO warns climate inaction threatens global health

    October 29, 2025

    Sightsavers mobilizes Kebbi leaders to fight trachoma

    October 29, 2025
  • Environment

    Climate inaction costs lives as adaptation finance lags—UNEP

    October 29, 2025

    Slow climate adaptation threatening lives and economies — UNEP report warns

    October 29, 2025

    New law strengthens Nigeria’s fight against wildlife trafficking

    October 29, 2025

    Nigeria’s environment at risk from poor waste management, EPHPAN warns

    October 28, 2025

    Nigeria launches green women platform to drive climate solutions

    October 28, 2025
  • Hausa News

    Anti-quackery task force seals 4 fake hospitals in Rivers

    August 29, 2025

    [BIDIYO] Yadda na lashe gasa ta duniya a fannin Ingilishi – Rukayya ‘yar shekara 17

    August 6, 2025

    A Saka Baki, A Sasanta Saɓani Tsakanin ‘Yanjarida Da Liman, Daga Muhammad Sajo

    May 21, 2025

    Dan majalisa ya raba kayan miliyoyi a Funtuwa da Dandume

    March 18, 2025

    [VIDIYO] Fassarar mafalki akan aikin Hajji

    January 6, 2025
  • More
    1. Business/Banking & Finance
    2. Politics/Elections
    3. Entertainments & Sports
    4. International
    5. Investigation
    6. Law & Human Rights
    7. Africa
    8. ACCOUNTABILITY/CORRUPTION
    9. Hassan Gimba
    10. Column
    11. Prof. Jibrin Ibrahim
    12. Prof. M.K. Othman
    13. Defense/Security
    14. Education
    15. Energy/Electricity
    16. Entertainment/Arts & Sports
    17. Society and Lifestyle
    18. Food & Agriculture
    19. Health & Healthy Living
    20. International News
    21. Interviews
    22. Investigation/Fact-Check
    23. Judiciary/Legislature/Law & Human Rights
    24. Oil & Gas/Mineral Resources
    25. Press Freedom/Media/PR/Journalism
    26. General News
    27. Presidency
    Featured
    Recent

    CAPPA highlights media’s role in reducing NCD

    October 29, 2025

    Chrisland university awards first-class degrees amid growing enrolment

    October 29, 2025

    Women farmers learn smart agriculture techniques in Abuja

    October 29, 2025
  • About Us
    1. Contact Us
    2. Board Of Advisory
    3. Privacy Policy
    4. Ethics Policy
    5. Teamwork And Collaboration Policy
    6. Fact-Checking Policy
    7. Advertising
    Featured
    Recent

    CAPPA highlights media’s role in reducing NCD

    October 29, 2025

    Chrisland university awards first-class degrees amid growing enrolment

    October 29, 2025

    Women farmers learn smart agriculture techniques in Abuja

    October 29, 2025
  • Media OutReach Newswire
    • Wire News
  • The Stories
AsheNewsAsheNews
Home»Environment/Climate Change»New report says $2 trillion needed yearly to triple global renewables 
Environment/Climate Change

New report says $2 trillion needed yearly to triple global renewables 

New report says $2 trillion needed yearly to triple global renewables 
Fatima Zahra MuhammadBy Fatima Zahra MuhammadFebruary 13, 2024Updated:February 13, 2024No Comments3 Mins Read
Renewable Energy Image Photo
Share
Facebook Twitter LinkedIn Pinterest Email

A new report by think tank Climate Analytics has found that $8 trillion of investment is needed for new renewables to deliver the 2030 tripling goal agreed at COP28 in Dubai late 2023.

The report also found that $4 trillion is need for grid and storage infrastructure.

By implication, $2 trillion a year, on average, is needed for investment in Africa to grow five-fold to ramp up renewables twice as fast as global average.

The report released on Tuesday said that using climate finance to mobilise $100 billion a year for the rollout in Sub-Saharan Africa, five times current investment levels,  would ensure energy access for all and align the region with the global target.

”$2 trillion a year sounds like a cost, but it is really a choice. We are set to invest over $6 trillion in fossil fuels over this decade, more than enough to close the tripling investment gap.

”Faced with this choice, I would go with the safest, best value option, renewables,” said the report’s lead author and Climate Analytics expert, Dr Neil Grant.

The report calculated how fast different regions need to act to triple global renewables based on current capacities and future needs.

It said that renewables capacity in Sub-Saharan Africa needed to scale rapidly by a factor of seven (double the global average) due to historic underinvestment and energy access needs.

The Organisation for Economic Cooperation and Development (OECD) is forecasted to double its renewables by 2030, but the report said the investment needed to triple.

According to the report, accelerating action in line with this would close 60 per cent of the global gap between forecast capacity in 2030 and the tripling goal.

”The OECD needs to triple renewables but is currently way off target.

”Countries in the region claiming to be climate leaders need to walk the talk, not just by ramping up renewables at home, but by coming through for other regions which need finance to contribute to the tripling goal,” says co-author of the report and Head of Policy at Climate Analytics, Claire Fyson.

Asia, the report said, would need to scale slightly faster than the OECD, almost quadrupling its renewable capacity by the end of the decade.

It described the region as the only region broadly on course for the tripling goal, driven mostly by policies in China and India.

However, it said that the significant coal and gas pipelines in these countries risked stranded assets or slowing the transition.

According to the document, as renewables are set to grow strongly in the region, new fossil fuel plants are not needed and should be avoided.

”The renewables industry stands ready to deliver on the global tripling goal, but to get there in time, we need governments to take urgent actions to turbocharge an already buoyant renewables market.

”Public finance is key, especially international support to provide access to low-cost capital for emerging markets to join the renewables era, ensuring a clean, secure and just transition for all,”  the CEO of the Global Renewables Alliance, Bruce Douglas said in reaction to the report.

The report said that renewables need would continue growing strongly beyond the end of 2030, scaling up five times by 2035 relative to 2022, to limit warming to 1.5°C.

As governments start to develop their 2035 targets for the next round of Nationally Determined Commitments (NDCs), the report urged them to consider how to follow through on the tripling ambition collectively agreed at COP28. 

NAN

investment Renewables
Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Fatima Zahra Muhammad
  • Website

Related Posts

Climate inaction costs lives as adaptation finance lags—UNEP

October 29, 2025

Slow climate adaptation threatening lives and economies — UNEP report warns

October 29, 2025

New law strengthens Nigeria’s fight against wildlife trafficking

October 29, 2025

Leave A Reply Cancel Reply

CAPPA highlights media’s role in reducing NCD

October 29, 2025

Chrisland university awards first-class degrees amid growing enrolment

October 29, 2025

Women farmers learn smart agriculture techniques in Abuja

October 29, 2025

African experts call for urgent action to reduce maternal deaths

October 29, 2025
About Us
About Us

ASHENEWS (AsheNewsDaily.com), published by PenPlus Online Media Publishers, is an independent online newspaper. We report development news, especially on Agriculture, Science, Health and Environment as they affect the under-reported rural and urban poor.

We also conduct investigations, especially in the areas of ASHE, as well as other general interests, including corruption, human rights, illicit financial flows, and politics.

Contact Info:
  • 1st floor, Dogon Daji House, No. 5, Maiduguri Road, Sokoto
  • +234(0)7031140009
  • ashenewsdaily@gmail.com
Facebook Twitter Instagram Pinterest
© 2025 All Rights Reserved. ASHENEWS Daily Designed & Managed By DeedsTech

Type above and press Enter to search. Press Esc to cancel.