The meeting was organized by IRENA, GRA, the Global Solar Council (GSC) and the Global Wind Energy Council (GWEC) against a backdrop of daily record temperatures, weather induced disasters and security challenges - the urgency for action is clear. They agreed key representatives from governments and industries worldwide to engage in constructive dialogues and identify actionable strategies to put in place a global renewables target on the road to COP28. The dialogue also discussed how to unleash the potential of renewables by overcoming barriers such as permitting red tape, while putting in place important enablers such as financing mechanisms and clear regulatory frameworks.
“We must come together at COP28 as a global community more committed than ever to fighting climate change” said His Excellency Dr. Sultan Al Jaber, COP28 President-Designate. “As part of our presidency this year, we want to take the opportunity to raise global ambitions on key climate solutions. Renewable energy is one of those solutions, and we are calling for all countries to commit to supporting a global tripling of renewable capacity as well as a doubling of energy efficiency progress by 2030.”
“IRENA’s World Energy Transitions Outlook positions the renewables-based energy transition as the most realistic climate solution and calls for total renewable power capacity to more than triple by 2030, compared to 2022 levels, to over 11 TW globally” added IRENA Director-General Francesco La Camera. “While every region and country must tailor its own approach, this global target clearly underscores the scale and speed required for the energy transition, highlighting the urgent need for COP28 to address the existing structural barriers that impede progress."
Director Paula Pinho from the European Commission said that the deployment of renewables to triple capacity and double energy efficiency improvements in this decade should be the basis for setting up a global pledge at COP28.
“We believe such a pledge is the only solution to bring the world back on track with a 1.5°C trajectory and it will give industry and investors a clear sense of direction” said Ms Pinho.
Bruce Douglas, CEO of The Global Renewables Alliance, added that raising renewable energy ambitions, and taking concrete action to deliver on those targets, is the very minimum we should be doing.
“The renewables industry is delighted to be aligning with important bodies such as IRENA, European Commission and COP Presidency in calling for an ambitious global renewables target to triple total installed capacity to at least 11 TW by 2030” said Mr Douglas.
However, even more important is urgently putting in place the policy frameworks, finance mechanisms, accelerated permitting, grid infrastructure and supply chain support to enable the unprecedented growth of renewable energy. We need ambition now, action now, #RenewablesNow.
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