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New Energy World
New Energy World embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low carbon technologies.
The COP28 Presidency, International Renewable Energy Agency (IRENA) and Global Renewables Alliance have published a joint report outlining key enablers to fast-track the energy transition by tripling renewable power and doubling energy efficiency by 2030.
The report provides policy recommendations for governments and the private sector on how to increase global renewable energy capacity to at least 11,000 GW while also doubling annual average energy efficiency improvements in the target period. This falls under the COP28 Presidency’s Action Agenda objective of fast-tracking a ‘just and orderly’ energy transition to keep 1.5°C within reach.
Launched on the sidelines of a pre-COP meeting held in Abu Dhabi, United Arab Emirates, for countries to lay the groundwork for negotiations at the global climate summit starting later this month, the report divides the key enablers to fast-track the energy transition into five sections:
- Infrastructure and system operation.
- Policy and regulation.
- Supply chain, skills, and capacities.
- Scaling-up public and private finance.
- Enhancing international collaboration.
Commenting on the report, COP28 President Dr Sultan Al Jaber says: ‘Tripling the deployment of renewable power generation and doubling energy efficiency are amongst the most important levers to cut greenhouse gas emissions. 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.’
IRENA Director-General Francesco La Camera adds: ‘Our mission is as clear as it is urgent – we need concerted action to triple renewable power capacity by 2030. This includes urgently addressing deeply entrenched systemic barriers across infrastructure, policy and institutional capacities stemming from the fossil-fuel era. 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. This report outlines actions governments must prioritise to fast-track the global energy transition and keep 1.5°C alive.’
Bruce Douglas, Global Renewables Alliance CEO, continues: ‘Tripling renewable energy and doubling energy efficiency is the most impactful commitment policymakers can make to combating climate change. These steps will deliver cleaner electricity systems, open up access to affordable energy and deliver clean green jobs for millions of people. The rapid upscaling of renewable energy will require policymakers to work hand-in-hand with industry and civil society to urgently implement the enabling actions in this report – infrastructure and system operation; policy and regulation; and supply chains, skills, and capacities. Critically, these areas must be reinforced by low-cost financing and international collaboration. Working together to secure a liveable future for all.’