Dubai, 2 December 2023 |The pledge to triple global renewable energy capacity by 117] countries by 2030 is an historic milestone in the drive to limit global temperature rise to 1.5°C. However, it now requires transformational action in every region of the world to deliver the fundamental shift in the global energy system that is needed. Governments must immediately focus on agreeing unambiguous language in the negotiated outcome text of COP28 and establish a forum for holding governments accountable, which will deliver the market signals to unlock investment.
The Global Renewables Alliance is actively working with parties to ensure unambiguous language in the COP28 Negotiated Text. We welcome wider engagement with parties and stakeholders.
Tripling the world’s renewable energy production to 11,000 GW by 2030, coupled with doubling energy efficiency, is the most impactful action to rapidly decarbonise this decade, as highlighted in the pre-COP report by the GRA, the COP28 Presidency and IRENA. In this scale-up, solar and wind will have the largest role to play, but all renewable energy technologies, long duration storage and green hydrogen will be essential.
Action and accountability must be the next steps if this pledge is to deliver on its high ambitions. To rapidly accelerate deployment, permitting must be streamlined, supply chains strengthened, grids expanded, and finance must be unlocked. This is the only way that ambition can become reality.
COP28 should seek to ensure countries that sign up to the pledge also agree to an accountability mechanism – monitoring and reporting on progress – to ensure the rapid upscale of renewable energy is developing at the rate required for 1.5°C.
Genuine action on delivering renewable energy capacity will ensure a just and inclusive energy transition that ensures gains from the energy transition are equitably distributed. This must include multilateral North-South partnerships to support local value creation in developing economies, as well as mobilising access to low-cost financing and transition-related needs, such as grid expansion.
The Global Renewables Alliance ( GRA) represents the leading international industry players and provides a unified renewable energy voice. Comprised of founding members the Global Wind Energy Council, the Global Solar Council, the International Hydropower Association, the International Geothermal Association, the Long Duration Energy Storage Council and the Green Hydrogen Organisation, the Alliance aims to increase ambition and accelerate the uptake of renewable energy across the world. #3xRenewables.
