Despite unprecedented growth, the global effort to triple renewable energy by 2030 is falling short. The latest tracking report reveals a significant gap in progress, highlighting the need for an annual investment of $1.5 trillion to meet the UAE Consensus energy goals and keep the 1.5°C target within reach.
Governments have a pivotal opportunity to close this gap by setting ambitious, actionable plans in their upcoming NDCs and boosting investment in energy efficiency, storage, and grids. Urgent action is needed to ensure a clean, just and secure future for all.
At COP28 world leaders agreed to triple the global renewable energy capacity by 2030. Now, it's Time 4 Action to deliver on the commitment.
With action on finance, supply chains, permits and grids, the full renewables potential can be unleashed, providing the needed 11.000 renewable gigawatts by 2030 to reroute onto the 1.5 degree pathway.
See more on the four core actions in GRA's action agenda.
Tripling renewable energy capacity by 2030 will be the defining mission of this era, and the GRA - representing the joint industry voices of the energy transition - is ready to work with governments, the private sector, financing institutions and society to reach this goal and create a just, equitable and inclusive energy transition for all.
Tripling renewable power and doubling energy efficiency by 2030: Crucial steps towards 1.5°C
Representing global perspectives within the renewable energy and climate change space, this report by the COP28 Presidency, IRENA and the Global Renewables Alliance provides recommendations on the means to triple renewable power generation capacity and double the energy efficiency improvement rate by 2030.
