At least USD 12 trillion is required to create new infrastructure over the next six years for tripling global renewable energy capacity by 2030, COP28 President Sultan Al Jaber said recently. Addressing the annual Petersberg Climate Dialogue, Al Jaber said the energy transition will not happen without significant investment and a level-up in climate finance. He said the four key priorities to level up climate finance are infrastructure, technology, people and the Global South. "On infrastructure, we need to invest at least USD 6 trillion over the next six years to meet our 2030 target of 11 TW of renewable energy capacity," the COP28 president said. World leaders reached a historic agreement at COP28 in Dubai last year to triple global renewable energy capacity by 2030.

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