WGS 2023 in Dubai: Investments in renewable energy growing, but not fast enough, says official

Investments in renewable energy are growing faster, but not fast enough, the World Government Summit was told on Monday.

While delivering an opening address at the Global Climate Tech and Policy Forum on the sidelines of the World Government Summit, Frederick Kempe, chief executive officer​, Atlantic Council, said the world economy’s resilience is being tested in the wake of the Russia-Ukraine crisis that led to the energy crisis.

While quoting Dr Sultan Al Jaber, President-Designate, COP28, Frederick Kempe, chief executive officer​, Atlantic Council, said the world is falling behind in 2030 climate goals, and it is going to fall further behind if action is not taken now.

“The energy and climate agenda have never been more critical before and it’s time to turn the rhetoric of past cops into action, and you have to turn action into multiple results before it's too late,” Kempe said while delivering the opening address at the Global Climate Tech and Policy Forum on the sidelines of the World Government Summit on Monday.

In light of the energy security crisis, he said the investment in renewables is going faster, but isn't going fast enough.

He added that Europe and the world are still experiencing the impacts of the Russia-Ukraine war accompanied by energy and macroeconomic crises, as well as the inflation that has played out over the last 12 months.

“There's much we have to respond to as a global community [for] things we ought to prevent that we could have prevented and things that we can't prevent. But we have to learn and come back more resilient.”

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