Tuesday, 19 November 2024.
Released a few weeks ago, the Global Energy Monitor brings positive news in a new report, news that doesn't typically make to the global headlines. About the BRICS countries.
Here are the highlights:
Coal, oil, and gas capacity is set to fall below 50% total power capacity by the end of this year;
Wind and utility-scale solar capacity in development is double the amount of coal, oil, and gas power capacity;
190 GW of non-fossil capacity additions in 2024 have already come online in China, India, and Brazil alone;
The bloc has enough renewables projects in development to nearly triple such capacity by 2030.
According to the Global Energy Monitor, BRICS comprehends Brazil, Russia, India, and China, a group of major-emerging economies established in 2009 and expanded to include South Africa the following year. Meanwhile and until the issuance of the report, United Arab Emirates (UAE), Ethiopia, Egypt and Iran had also joined the group.
Considering that the bloc comprehends roughly half of the world’s population and CO₂ emissions, with the largest volume of coal use in the world still as an energy source, the highlights of such report is very relevant, indicating the expected commitment towards emissions reduction, and signaling an important milestone in the clean energy transition for the first time.
Despite fossil-fueled power capacity losing ground in the BRICS’ power mix, virtually all country members are building additional coal, oil, or gas plants.
Click at the image below to go to the press release page and access the 31-pages report, with several great graphs.
Half of the report are individual chapters profiling the energy sector of each of the 9 BRICS countries mentioned above.
A few days ago we also reported about the BRICS initiative to develop its own carbon credit markets:
About Global Energy Monitor, it develops and analyzes data on energy infrastructure, resources, and uses, providing open access to information that is essential to building a sustainable energy future. According to its portal, it started back in 2007, responding to a call to action by climate scientist James Hansen, an informal group of journalists and environmental advocates began documenting 151 proposed coal plants in the United States.
