The International Renewable Energy Agency (Irena) has identified in its inaugural ‘World Energy Transition Outlook (WETO)’ a way forward to immediately course correct the 1.5 ˚C climate pathway.

The gap between what has been achieved and what is required to mitigate climate change continues to grow, Irena states, calling for more rapid renewables deployment globally.

The WETO 2023 positions electrification and efficiency as key transition drivers, enabled by renewable energy, clean hydrogen and sustainable biomass, and tracks implementation across all energy sectors.

Despite record additions in renewables capacity of 300 GW in 2022, more ambitious renewable energy targets are needed. Irena says an average of 1 000 GW of renewable power capacity needs to be added every year by 2030 if the climate pathway of 1.5 ˚C is to be met.

“We face the harsh reality that we are not on track to deliver on the Paris Agreement. Our only option is to follow the most promising, science-based pathway that puts renewable energy at the centre of the solution, while leading countries to energy security, reduced energy costs and forward-looking industrial development,” notes Irena director-general Francesco La Camera.

Irena believes the energy transition must become a strategic tool to foster a more equitable and inclusive world.

“The COP28 conference and the Global Stocktake must not only confirm our deviation from a 1.5 °C pathway, but also provide a strategic blueprint to steer us back on track,” La Camera notes.

COP28 president-designate Dr Sultan Al Jaber welcomes Irena’s recommendations, commenting that a goal alone is not enough and that the WETO report provides a solid pathway to implementation.  

“I have called for a tripling of renewable energy by 2030, which is in line with Irena’s WETO report. The speed at which the energy transition happens depends on how quickly we can phase up zero-carbon alternatives, while ensuring energy security so that nobody is left behind,” Al Jaber states.

He says political will is also needed to rapidly scale up renewables. Al Jaber adds governments and other stakeholders must create the frameworks for end-to-end delivery and provide the accessible and affordable finance necessary for project pipelines.

“To meet our 2030 targets, we need urgent action to fast-track expansions of grid infrastructure, to reduce permitting timelines, and to reduce the cost of capital in emerging markets and developing economies.

“I was glad to recently reaffirm a shared commitment with the EU to ensure maximum support among parties at COP28 to triple renewable energy by 2030. The COP28 Presidency also announced this week that Kenya will champion the drive in Africa for tripling renewable energy capacity by 2030,” Al Jaber notes.

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Focusing on the enablers of a renewables-dominated system can help address the structural barriers hindering progress in the energy transition, Irena says, identifying the following barriers that require addressing to get the 1.5˚C pathway back on track: lack of physical infrastructure, absence of enabling policies and regulations, and misalignments in skills and institutional capacity. 

Adding speed and scale to the energy transition requires rewriting international cooperation. This necessitates an assessment of the roles and responsibilities of national and regional entities, international organisations, international financial institutions and multilateral development banks, to ensure their optimal contributions to the energy transition. It also means ensuring that funds reach the world’s most vulnerable.

WETO provides the analyses and the narrative for COP28 and the call by Al Jaber is to build coalitions that deliver end-to-end support across the renewables ecosystem and enable us to triple renewable energy capacity as part of a just energy transition that leaves nobody behind.

Irena works closely with countries to support the development and implementation of renewable energy policies and strategies in line with the 1.5 °C pathway outlined in WETO.

The agency also provides technical assistance and capacity building to help countries to increase the share of renewables in their energy mix.