A global group of 200 organisations called for world leaders and Parties to the Paris Agreement to agree on a global target to triple renewable energy capacity to at least 11,000 GW by 2030 at COP28 recently.
A global target for 2030 sends a clear signal to governments, industry, investors and civil society on the unprecedented scale and speed of renewables deployment required over the next seven years to limit global warming to a 1.5°C pathway. It also builds upon the recognition of the urgency to rapidly transform energy systems in this critical decade of action, secured at COP27 last year, according to a media release issued on Tuesday.
“We underscore that a step change this decade in renewable energy growth, combined with an increase in energy efficiency, will be the fastest and most cost-efficient way to decarbonise the global economy. It is one of the most impactful commitments that the global community can undertake now to secure a liveable future for all,” the open letter read.
The COP28 presidency, policymakers and heads of international energy agencies are already convening around a shared target to triple global renewable energy capacity to at least 11,000 GW by 2030. That means accelerating the build-out of wind power, solar power, hydropower and geothermal power, which would set the stage for technologies like long-duration storage and green hydrogen to take off. This would ensure energy systems are not only clean but secure and in turn, form the foundation of a net zero global energy system by 2050.
Renewable energy is already transforming communities around the world: powering homes, cars and factories with clean electricity; generating millions of green jobs; and attracting public and private capital to propel economic growth. Tripling this activity represents an enormous opportunity to reduce the loss and damage to nature and people wrought by harmful climate change, and set the world on a path to sustainable, inclusive and climate-resilient growth.
The open letter added, “While each country and region will adopt a nationally determined approach to this common target, there are universal enablers for accelerating renewable energy.
