Why are countries falling short of hitting COP28 global targets to mitigate global warming? The latest IEA report cites four:
- Delayed creation and implementation of policies to address the low-carbon transition citing challenges in the macroeconomic environment;
- Insufficient investment in grid infrastructure that prevents its faster expansion and the integration of renewable energy sources;
- Cumbersome administrative barriers to building new renewable energy capacity along with nimbyism (not-in-my-backyard) social resistance;
- A lack of adequate sources to finance renewable energy projects, particularly in emerging and developing countries.