The upcoming COP28 in Dubai offers a unique opportunity to position the renewable-based energy transition as a key solution to address climate change. Given the intensifying international efforts to accelerate progress towards reaching the 1.5°C climate goal, accelerating the global energy transition is in the centre of the climate discourse.
IRENA’s World Energy Transitions Outlook (WETO) 2023 shows that on average, 1 000 GW of renewables power needs to be added each year to triple installed renewables power capacity to 11,000 GW by 2030. The latest report published by IRENA, together with its partners from the COP28 Presidency and the Global Renewables Alliance (GRA), provides concrete recommendations on the means to achieve a tripling of renewables and doubling of energy efficiency by 2030.
In this context, IRENA, in cooperation with CNN, launched a media campaign to showcase the Agency’s role as architect in the energy transformation.
IRENA enables progress in this transition, using its unique knowledge and global network to activate policy action, innovation, and investment. A leading global force, IRENA drives regional and international collaboration to accelerate the adoption of renewable energy worldwide.
Read more about IRENA’s work, engagement, partnerships and initiatives in the articles below, showing how energy transition changes lives and economies.
Green Pathways: How Clean Energy Empowers Lives and Livelihoods
The energy transition is revolutionizing our world, and its impact on lives and livelihoods is already being felt in meaningful ways. A just energy transition must emphasize clean energy access to help communities adapt to climate change. It must also be essential to growing new sustainable ecosystems that protect community health and livelihoods.
Climate change, clean energy, water, food security, and healthcare are global development issues affecting a large part of the world’s population. The nexus between these sectors has profound impacts on lives and livelihoods, economies, and the environment, making them critical to achieving the United Nation’s Sustainable Development Goals.
Why younger generations are motivated to take an active role in the energy transition
Awareness of the climate crisis and biodiversity loss has reached an all-time high, particularly among young people, who will be most affected by the policy decisions made today. If properly mobilized, young activists, professionals, and entrepreneurs have the potential to spearhead the renewable energy transition.
“Young people approach challenges with fresh eyes and open minds. They are natural innovators and problem solvers, which is vital for new technologies, business models, and policy frames that can accelerate the energy transition.”
Millennials and Gen Z have been praised for their adaptability, digital fluency, and passion for purpose-driven work. But while the intention is there, barriers like access to finance and mentorship often pose challenges. That is where IRENA comes in. To inspire the new generation of energy leaders, IRENA is committed to ensuring they have access to a global network of educators, investors, and industry experts.
Maintaining momentum in the energy investment lifecycle
Transformative energy projects rely on strategic partnerships and a well-defined roadmap to achieve global transition goals. Worldwide investment in energy transition technologies reached a record high of USD 1.3 trillion in 2022. However, new data from the International Renewable Energy Agency (IRENA) reveals that investments are lagging in the pace and scale needed to accelerate progress.
IRENA’s Energy Transition Accelerator Financing (ETAF) platform exists to give developers access to various de-risking solutions and financing opportunities as a way of advancing their energy projects.