The COP28 Presidency has designated the International Renewable Energy Agency (IRENA) as the official custodian of an annual report series tracking global progress toward these key targets.
This follows the historic outcome of the first Global Stocktake to triple global renewable energy capacity and double energy efficiency by 2030.
A statement made available to DA NEWS, by Saga Henriksdotter, Communications Officer, Global Renewables Alliance states that building on the Agency’s strong existing collaboration with the Global Renewables Alliance (GRA), IRENA has invited GRA to contribute to this reporting process by providing input and support as the exclusive private sector partner to the series.
The report according to the statement made will be led by IRENA and published annually from 2024 until 2030, providing the latest monitoring data and projections each year concerning these defining targets of the UAE Consensus established at COP28, and serving as a key input to future COP engagements.
Director-General of IRENA Francesco La Camera, said that inspired by the projections of IRENA’s 1.5°C Scenario, the call at COP28 to triple renewables and double energy efficiency by 2030 represents an unprecedented step forward in its efforts to keep the Paris Agreement goals within reach.
“Collaboration with the private sector is essential to this endeavour, and the Global Renewables Alliance is ideally positioned to support IRENA in tracking global progress towards these historic goals as the exclusive private sector partner,” he said.
Bruce Douglas, CEO of GRA while also commenting on the collaboration says the organisation is delighted to work with IRENA on their annual report to track the tripling of renewables to 2030.
“With industry data from GRA members and IRENA data, we will monitor the progress towards 2030. This public-private collaboration will help accelerate and facilitate the scaling of renewable energy, and encourage the urgent actions required in this essential decade,” he said.
Complementing the tracking report, IRENA and GRA will also collaborate ahead of COP29 on the Global Renewables Summit.
The event represents the first high-level summit bringing together the public and private sectors to discuss the progress, challenges, and opportunities of reaching 11,000 GW of installed renewable capacity by 2030.
The Summit, which will take place during Climate Week NYC, will serve as a platform to follow up on the outcomes of COP28 and identify key areas of action to deliver progress in the tripling of renewables, with a focus on emerging markets and developing economies (EMDEs).
IRENA and GRA will also host a joint Global Renewables Hub at COP29, creating a space for industry leaders, government officials, and representatives from civil society to discuss key strategic aspects of the clean energy transition.
Recall that the International Renewable Energy Agency and Global Renewables Alliance had signed an MoU in 2023 to work together towards a rapid, sustainable, affordable, and inclusive energy transition.
The world needs renewables now and policymakers must focus on delivering them clearly – this partnership will help ensure that happens.
IRENA’s target of 1 TW of new renewable capacity annually to 2030 will guide ambition for this work.
This partnership will have a laser-targeted focus on ensuring the delivery of renewable energy around the world, and support policymakers in overcoming barriers that hinder the rapid growth in renewables that the world needs to stay on the 1.5 °C pathway.
By Dare Akogun
