COP28 pledge on tripling kicks off massive scale up of renewable energy- but action and accountability must now match this ambition
COP28 pledge on tripling fires starting gun for massive scale up of renewable energy - but action and accountability must now match this ambition
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.
"117 countries committing to tripling global renewables by 2030 is a huge achievement at COP28. This pledge signals the start of a new energy paradigm and a once in a generation opportunity to transition to a clean, secure and just energy system. We now need to turn this ambition into action and hold policy makers accountable to deliver on their commitments. To get there, we need the tripling to be reflected in updated NDCs, with increased national targets and rapid implementation across the key enablers.”
- Bruce Douglas, CEO of Global Renewables Alliance