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Global Renewable Energy Forecast Slashed as Major Powers Retreat

IEA cuts 2030 renewable energy forecast by 900 GW as US and China retreat from climate commitments. PowerBank Corporation positioned to lead private sector renewable adoption.

This development matters because it represents a significant setback in global climate action at a critical time when accelerated renewable energy deployment is essential to meet climate targets. The retreat by major economies like the U.S. and China from their climate commitments creates a domino effect that undermines international cooperation and could lead to increased global temperatures beyond safe thresholds. For investors and consumers, this signals both risk and opportunity - while government support may be waning, private sector companies are positioned to fill the gap, potentially creating new investment opportunities in renewable energy companies that can thrive without substantial government backing. The failure to meet the 2030 tripling target also increases the likelihood of more severe climate impacts, higher energy costs in the long term, and greater economic disruption from climate-related events.