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World must triple investment in renewable energy—UN report

by Business News Report

Global investments in renewable energy should be tripled by 2050 in order to put the world on the trajectory towards net zero emissions, the latest UN report has said. The World Meteorological organisation, a specialised UN agency whose mandate covers weather, climate, and water resources, said in the report that the supply of electricity from clean energy sources must be doubled within the next eight years. According to the WMO’s 2022 State of Climate Services report, climate change is putting global energy security at risk. The effects of climate change, including more frequent and intense extreme weather, are directly affecting fuel supply, energy production, and energy infrastructure.

Although water resources are scarce on a global scale, 87 per cent of global electricity generated from thermal, nuclear, and hydroelectric systems in 2020 directly depended on the availability of water. Some 33 per cent of the thermal power plants that rely on freshwater for cooling are in high water stress areas, as are 15 per cent of existing nuclear power plants — a figure that could rise to 25 per cent in the next 20 years. NAN

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