By President and Chief Executive Officer Andrés Gluski
It’s great to be in Dubai at COP28 to see how, as a global community, we can accelerate our efforts to slow down climate change. Climate change is the greatest threat to humanity and is accelerating rapidly. Unfortunately, the world is not reducing its carbon emissions fast enough to limit an increase in average global temperatures to 1.5 °C. In fact, current commitments under the Paris Agreement put the world on track for a 2.5-3.0°C increase.
Since COP27, we have witnessed some progress like the European Union's pledge to cut emissions by 55% by 2030 and the Inflation Reduction Act in the United States. These examples serve as a reminder of what we can accomplish when governments make real, tangible commitments – and stick to them.
Globally, renewable energy capacity must triple by 2030. We will not achieve this goal by doing more of the same. The energy transition relies on our ability to innovate. AES is well-positioned to lead this innovation. We were the first to deploy grid-scale battery energy storage in 2007 ultimately resulting in the creation of Fluence, AES' JV with Siemens, which has consistently been named the #1 grid scale energy storage provider.
We are also a leader in green hydrogen, which will be necessary to decarbonize hard to abate sectors. As the biggest supplier of renewable energy to corporations worldwide, and particularly to data centers, we are also on the forefront implementing new innovative business models like 24/7 carbon-free energy, prefabricated solar, construction robotics, and AI-powered grid visualization software.
But we can’t do it alone. Governments, private sector and communities need to continue to work together. I look forward to rolling up my sleeves at COP28 this week and working with like-minded leaders to help get us back on track
