/Brussels, Belgium/Abu Dhabi, United Arab Emirates, May 17, 2024, 10:00 BST, IRENA/ Following the historic outcome of the first Global Stocktake to triple global renewable energy capacity and double energy efficiency by 2030, 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. 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 will be led by IRENA and published annually from 2024 until 2030, providing the latest monitoring data and projections each year in relation to these defining targets of the UAE Consensus established at COP28, and serving as a key input to future COP engagements.
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 our 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.
On 13 May 2024, the COP28 President Dr. Sultan Al Jaber officially tasked the International Renewable Energy Agency (IRENA) with the establishment of a special annual report series dedicated to monitoring progress and providing recommendations on achieving key energy goals of the UAE Consensus set at COP28.
The call to triple renewable power capacity and double energy efficiency by 2030 reflects vital components of the global response to address climate change and keep 1.5°C within reach. The UAE Consensus calls for “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner” with the aim to achieve net zero by 2050.
COP28 President Dr Sultan Al Jaber said “Tripling renewable energy capacity and doubling energy efficiency by 2030 are central parts of the UAE Consensus, agreed by all 198 Parties at COP28. IRENA’s annual report will track and monitor global progress against these targets, which are crucial in ensuring we turn agreement into action and keep 1.5C within reach. The energy transition offers the greatest opportunity for social and economic development since the industrial revolution, and in IRENA we have a partner who understands both the need to transition to renewable energy and the huge economic opportunity this offers.”
IRENA Director-General Francesco La Camera welcomed the recognition of IRENA’s new custodian role: “I confirm the unwavering commitment by IRENA to the successful implementation of the historic UAE Consensus. Given the centrality of the Agency’s World Energy Transitions Outlook 1.5°C Pathway to the tripling of renewables and doubling of energy efficiency goals, IRENA is best placed to monitor progress towards these vital outcomes and ensure commitments are transformed into firm action and progress on the ground.”
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