COP-28 President Calls For Tripling Global Renewable Power Capacity By 2030
As countries around the world prepare for COP28, the COP28 Presidency along with two global renewable energy organizations on Monday (Oct. 30) released a report urging governments to triple renewable power by 2030.
Launched on the sidelines of the Pre-COP meet in Abu Dhabi, the report, “Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C” supports COP28 Presidency’s agenda to fast-track just energy transition.
“Tripling the deployment of renewable power generation and doubling energy efficiency are amongst the most important levers to cut greenhouse gas emissions,” said Dr. Sultan Al Jaber, President of COP28. “I am now calling on everyone to come together, commit to common targets, and take comprehensive domestic and international action, as outlined in this report, to make our ambitions a reality.”
Jointly launched by the COP Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA) the report provides key enablers necessary for meeting the energy targets and actionable policy recommendations to the governments and the private sector on increasing the global renewable energy capacity to at least 11,000 GW while also doubling annual average energy efficiency by 2030.
The report draws heavily from the analysis presented in IRENA’s World Energy Transitions Outlook 2023: 1.5 °C pathway, and divides the key enablers into five sections:
Infrastructure and system operation: power grids, energy storage, end-use electrification, sector coupling and infrastructure planning, demand-side management.
Policy and regulation: improving energy efficiency, market incentives and fiscal policy, power market design and regulation, streamlining permitting, reducing negative impacts, maximizing social and environmental benefits.
Supply chain, skills, and capacities: building resilient supply chains, education, training, and capacity-building.
Scaling-up public and private finance, and Enhancing international collaboration.
“IRENA’s World Energy Transitions Outlook, which provides the analytical foundation of this report, warns that the energy transition is dangerously off-track, demanding immediate, radical collective action,” IRENA Director-General, Francesco La Camera stated. “This report outlines actions governments must prioritize to fast-track the global energy transition and keep 1.5 °C alive.”
The IRENA chief also urged countries to urgently address the systemic barriers across infrastructure, policy, and institutional capacities stemming from the fossil-fuel era.
The report launched a month ahead of COP28, lays the groundwork for negotiations that will happen at the global climate summit between Nov. 30 – Dec.12 in Dubai. The UAE will be leading the process for all parties to agree upon a clear roadmap to accelerate progress toward global energy transition through actionable steps with the goal of “leaving no one behind” to inclusive climate action.