IRENA – Tripling renewables doubling efficiency, 2023

IRENA's World Energy Transitions Outlook 2023 emphasizes the crucial role of this decade in limiting global temperature rise to 1.5°C above pre-industrial levels, as outlined in the Paris Agreement. However, the global energy transition is currently off-track, and greenhouse gas emissions have reached unprecedented levels. To combat this, the report suggests that a rapid acceleration in the deployment of renewable energy, energy storage, and renewable fuels, along with advancements in energy efficiency and electrification, is necessary to meet global climate goals. To address this urgency, policymakers, energy authorities, industry, and civil society are urged to come together at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) and agree on global targets. These targets seek to triple the capacity of renewable power generation and double the rate of energy efficiency improvement by 2030. The report provides an analysis of these targets, highlighting existing gaps and identifying key factors needed to overcome them. The report serves as a collaboration between the COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA), presenting concrete recommendations for achieving these renewable power and energy efficiency goals.