World must stop consuming fossil fuels instead of blaming producers, Irena chief says

The world needs to stop the consumption of fossil fuels instead of “pointing fingers” at oil and gas producers, according to the director general of the International Renewable Energy Agency.

“When you say phase down or phase out, it seems like you are pointing the finger at the producing countries,” Francesco La Camera told media at the Cop28 summit in Dubai.

His remarks come as the climate conference enters its seventh day and talks intensify about a potential phase out or phase down of fossil fuels.

However, he also said countries should introduce policies to shift demand from fossil fuel products to cleaner energy.

“If you put in the market 11 terawatts [of renewable energy] by 2030 … this means that you will decrease the supply [of other energy sources],” Mr La Camera said.

The GCC countries can use existing resources to develop renewable energy technology to tackle climate change as well as diversify their economies, the Irena said in a report on Wednesday.

Solar photovoltaic (PV) power, which costs less than $0.20 per kilowatt hour (kWh), is now the least-cost option for power production in the region, outpacing natural gas, liquefied natural gas, oil, coal and nuclear power, the Abu Dhabi-based agency said.

A significant drop in production costs alongside an abundance of solar and wind resources in the GCC create opportunities for the emergence of innovative energy solutions such as green hydrogen.

Oil-rich Gulf countries have built all their renewable energy capacity within the past decade, based almost entirely on solar power.

Installed capacity grew to more than 5,600 megawatts last year, from 191 megawatts in 2013, Irena said.

Despite substantial growth and improved cost competitiveness of solar energy, renewable energy’s share in the electricity mix makes up only 3 per cent of the region’s generation capacity.

The UAE, the Arab world’s second-largest economy, hosts more than 60 per cent of the region’s renewable energy capacity amid rising investment in new projects.