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The International Renewable Energy Agency (IRENA) has released a new report assessing the feasibility of achieving the COP28 target of tripling renewables by 2030

In pursuit of meeting the collective goal of the Paris Agreement to keep global warming well below 2°C global leaders set a target of tripling renewables by 2030 at Cop28 in UAE. Nearly one year on from the conference, IRENA has assessed the progress made, stating that, despite an unprecedented acceleration in renewable energy deployment in 2023, the world will likely fall short of the target.

These findings were published in its newly released ‘Delivering on the UAE Consensus: tracking progress toward tripling renewable energy capacity and doubling energy efficiency by 2030’. Produced in partnership with COP28, Cop29, COP30 host Brazil and the Global Renewables Alliance today at Pre-COP, it provides accurate inputs to future COP decisions including COP29 in Baku.

The findings demonstrate that current national plans and targets are set to deliver only half of the required growth in renewable power by 2030. According to the organisation, annual investment in renewable capacity would have to triple, from a record high of US$570bn in 2023 to US$1.5 trillion every year between 2024 and 2030.

Global shortfalls

To meet the global goals, installed renewable capacity would have to grow from 3.9TW today to 11.2TW by 2030, requiring an additional 7.3 TW in less than six years. Yet, current national plans are projected to leave a global collective gap of 3.8TW by 2030, falling short of the goal by 34%. In addition, the annual energy intensity improvement rate must increase from 2% in 2022 to 4% on a yearly base up to 2030.

According to IRENA, these shortfalls highlight the inadequacy of existing policies and plans to limit global temperature rise to 1.5°C, underscoring the need for urgent policy interventions and massive investment. The third round of Nationally Determined Contributions (NDCs) under the Paris Agreement in 2025 must close the gap towards 2030.

“Today, we’re raising the alarm,” Francesco La Camera, IRENA’s director-general. “As the custodian for tracking progress of the UAE Consensus energy goals, we must flag significant gaps. The COP28 goals of tripling renewables and doubling energy efficiency are key enablers for our global efforts to keep 1.5°C within reach but we risk missing them. The next NDCs must mark a turning point and bring the world back on track.”

The progress report concludes that to deliver the UAE Consensus goals on the ground, significant advances will be required across the key enablers of the energy transition, namely: infrastructure and system operation, policy and regulation, supply chains, skills and capacities, finance, and international collaboration.

Emerging and developing economies continue to face financing gaps that undermine access to capital-intensive energy transition technologies. Renewable power investments in Africa declined by 47% between 2022 and 2023. Sub-Saharan Africa received 40 times less than the world average per capita transition-related investment.

Bobcat, a global manufacturer of compact equipment, has received the Red Dot Award: Design Concept winner for RogueX2, an all-electric, fully autonomous concept loader

The Red Dot Design Award is an annual international competition recognising excellence in design and business. Around 20,000 entries are submitted per year, making it one of the biggest design competitions in the world. The Design Concept category is bestowed upon new innovations that are precursors of tomorrow’s great products.

This year, that honour has gone to the RogueX2, a powerful, smart machine from Bobcat that produces zero emissions. Features include a lithium-ion battery, electric drive actuated lift, and tilt kinematics with no hydraulics. The most striking of the solution, however, is the lack of cab. The fully-autonomous concept loader has been designed to work without need of an operator and explores the idea of how work machines of the future can be designed and optimised for new technologies. In this way, it provides a glimpse at an entirely new work experience.

“We are honoured to win the world-renowned Red Dot Award for Design Concept in recognition of the groundbreaking design of the RogueX2,” remarked Joel Honeyman, vice president of global innovation at Doosan Bobcat. “This award is a testament to the dedication of the Bobcat teams who are passionate about pushing design limits and advancing innovation to redefine the machines of tomorrow.

Key to the machine’s development was the Bobcat Global Design Studio, which supported the project in collaboration with the Bobcat Global Innovation team. The solution is currently in the research and development stage, and is not commercially available.

“To build a smarter, more sustainable and connected future, we must ask the questions no one else has thought to ask before and invent new solutions that previously did not exist,” concluded Honeyman.

Judith Nemadzinga-Tshabalala, South Africa’s Deputy Minister of Mineral and Petroleum Resources, has called for a stronger health and safety culture within the country’s mining industry while speaking at the Mine Health and Safety Summit

“It is to be noted that the implementation of technology alone is not enough,” she remarked. “To achieve zero harm, we must also cultivate and sustain a strong health and safety culture throughout the mining sector. The Health and Safety Culture Transformation Framework developed by the Mine Health and Safety Council provides a solid foundation for this.

“However, the implementation of the framework across the industry remains uneven, and more work is needed to ensure that health and safety is elevated and recognised as a top priority and core value by all stakeholders and every mining operation, from the largest corporations to the smallest operators.”

As of 14 October, the country has recorded that year-on-year fatalities had declined from 38 to 34 deaths (11% in fatalities). Despite the improvement, the Deputy Minister said that even a single death was “one too many” and called for the sector to continue its efforts towards zero harm.

"It is about leadership, accountability and a deep, shared commitment to the well-being of every worker. It requires a shift in mindset, where the health and safety of mineworkers is not seen as an obstacle to productivity, but as a critical component of operational success,” Nemadzinga-Tshabalala continued.

“Many of these incidents are repeats and they can be prevented. Fall of ground accidents remain one of the largest accident categories, and the predominant cause of fatalities followed by general accident and transportation categories, respectively.

“This is regrettable, as it is expected that all mines should have appropriate measures and expertise to enhance the health and safety of mineworkers. So, we urge you to go back to the drawing board and constantly focus on safety performance.”

Constant improvement

The Deputy Minister listed the steps being actioned to reduce incidents within the country’s mining sector including engaging union leaderships; stopping unsafe mines; enforcing and monitoring of health and safety at sites; ensuring safe mining practices are being adopted; and ensuring that all mines collaborate with inspectors and organised labour to have health and safety campaigns to raise awareness.

“South Africa’s mining industry is globally recognised, and our safety record is comparable to some of the leading mining nations,” concluded Nemadzinga-Tshabalala. “However, as demonstrated by countries like Australia and Canada, there are higher benchmarks we can aspire to. We must, therefore, not allow ourselves to become complacent and accept that while the progress we have made is commendable there remains an opportunity for improvement.”

Jaguar Land Rover has announced new appointments to its executive leadership team as it aims to undergo the next phase of its development and transformation

The company has appointed Steve Marsh as the new executive director, vehicles programme. Reporting under the CEO Adrian Mardell, Marsh carries on from his previous position as director of global manufacturing operations at JLR, and brings a wealth of experience in the automotive industry having previously worked in the sector for 36 years.

“The transformation of JLR to a global modern luxury automotive manufacturer is well underway and delivering our next generation vehicles to the highest standard – across all touch points – is critical to our ongoing success,” remarked Marsh. “I am incredibly grateful for the opportunity to lead JLR’s global Vehicle Programmes teams at this once-in-a-generation moment of powertrain and industrial change.”

Elsewhere, Swarna Ramanathan has been appointed chief strategy officer and will also report to Mardell. Ramanthan has been tasked with leading JLR’s strategy creation, innovation and strategic foresights, alliances & collaborations, and product & customer experience strategy teams. Similarly, Ramanathan has considerable experience and has 20 years’ growth strategy development and implementation experience, working across the automotive, consumer and energy sectors. With Ramanathan’s appointment, Andrea Debbane will continue in her role as chief sustainability officer, relinquishing her interim responsibilities for strategy, and reporting to JLR CEO, Adrian Mardell.

“As an experienced and passionate advocate for the automotive, consumer and energy sectors, and a long-term follower of JLR, I am thrilled to be appointed Chief Strategy Officer, JLR, at an important moment in JLR’s transformation to be a global modern luxury automotive leader,” Swarna Ramanathan. “I look forward to playing a leading role in the evolution of the business’s Reimagine strategy for continued success.”

A final noteworthy appointment is that of John Beswick to the role of chief transformation and performance officer. Beswick joins JLR from Great Ormand Street Hospital having previously spent two decades at BT Group in transformational change and finance leadership roles.

“I am delighted to be joining JLR as chief transformation and performance officer,” said Beswick. “Working alongside other members of the executive leadership team and colleagues across JLR, my priority will be to lead the implementation of JLR’s strategy throughout the organisation, through seamless team alignment and collaboration.”

Mardell commented, “The transformation of the automotive sector is the greatest change in our industry in a century. Ensuring we have the right leaders, with the qualities and experience to deliver our modern luxury vision in the near-, medium- and long-term will ensure JLR’s future health and prosperity. I offer my warmest congratulations to Steve, Swarna and John on their appointments.”

British International Investment, a development finance institution and impact investor, has sought to boost private sector growth in high-impact sectors through the launch of a US$25mn risk sharing facility with Ecobank Sierra Leone

Currently, SMEs provide employment for about 70% of Sierra Leone’s population. Despite representing a crucial component of the country’s economy, BII has noted that these businesses still struggle to gain access to capital due to a number of factors such as limited availability of suitable financial products, high collateral requirements, high interest rates and the prevalence of short-term loans.

The risk sharing facility, which includes a comprehensive technical assistance programme, will therefore support Ecobank to increase lending to ambitious businesses in a frontier market where economic growth is hampered by lack of capital and investment.

“The signing of this agreement with Ecobank Sierra Leone underscores BII’s pioneering role to lead investments in countries that are often overlooked by investors,” remarked Samir Abhyankar, MD and head of financial services, BII. “The facility will be a game-changer for Sierra Leone, providing much-needed capital for ambitious local businesses to accelerate their growth, spur job creation and deepen impact. It’s an example of BII innovating and working with partners to help address pressing challenges where it matters the most.”

Growing Sierra Leone business

Building on US$50mn trade finance facility between the two entities in 2021 (which helped the bank to deepen its reach across Africa), the new facility will support local currency lending. According to BII, it will demonstrate its ability to act as the first mover in frontier markets and drive impact through risk navigation strategies.

Sebastian Ashong-Katai, managing director, Ecobank Sierra Leone, remarked, “We are delighted to have secured the support of British International Investment in boosting Ecobank’s vital lending capacity for Sierra Leone businesses who are the engine room for our country’s growth, economic development and employment. This further strengthens our intent to be the bank of choice for Sierra Leone’s businesses and leverages our delivery of world-class products, services, solutions, borderless digital pan-African platform and business skills training which are designed to support them in further growing their businesses.”

The investment will help Ecobank Sierra Leone to grow its loan book by increasing credit limits and extend lending tenors to up to five years. This is expected to boost business growth, create more jobs and increase private sector contribution to Sierra Leone’s economy.

Ampersand, a leading electric vehicle (EV) energy tech company, has opened a large manufacturing facility in Nairobi, enabling it to meet the increasing demand for electric motorcycles in the country

The new 21,000 sq m factor is three times larger than the previous site and boasts an additional 100 staff members. It will allow the company to assemble up to 60 electric motorcycles each day, tripling its production capacity in the country.

“Our new Nairobi factory is a major step forward in both scale and impact,” remarked Josh Whale, CEO of Ampersand. “It reflects our dedication to providing sustainable, affordable EV solutions that directly benefit riders and the environment. With this expanded capacity, we’re in a stronger position to support the electrification of Africa’s commercial motorcycle transport and to scale Ampersand’s proven business model.”

A sustainable transport solution

The new expansion swiftly follows the company’s announcement that it had raised total equity of US$21.5mn (over the course of a year) in a demonstration of the appetite for e-mobility solutions in the region.

Each sustainable e-motorcycle from the company avoids at least 2 mt of CO2e per bike per year and, on average, reportedly increases customer income by 45% annually. According to Ampersand, the enhanced Kenyan operation – in combination with its successful model in Rwanda – is laying a strong foundation for its continued expansion in East Africa and for achieving its goal of deploying five million electric motorcycles by 2033.