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“We know that renewables are the cleanest and cheapest form of energy – and that energy efficiency can also help drive down bills and emissions,” Bowen said in a statement, pointing out that other major energy exporting countries including the United States, Canada and Norway had also committed to the plan promoted by the summit host UAE.
“Australia has the resources and the smarts to help supply the world with clean energy technologies to drive down those emissions while spurring new Australian industry,” he added.
Getting the deal into the final UN climate summit decision would require consensus among the almost 200 countries present.
Tripling that capacity by 2050 would require a significant scaling up in new approvals – and finance.
A central decision facing nations at COP28 is whether to agree, for the first time, to gradually “phase out” global consumption of fossil fuels.