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Renewables and Energy Efficiency: Key to Achieving Net Zero by 2050
In a significant discourse surrounding global energy transformation, scaling up renewable energy sources and enhancing energy efficiency have emerged as the most pragmatic and economically viable strategies for achieving net zero emissions by 2050. This assertion is grounded in the International Renewable Energy Agency’s (IRENA) report, World Energy Transitions Outlook, highlighting the pivotal role of the UAE Consensus, which was ratified at COP28 in Dubai. This framework aims to steer countries away from fossil fuel dependency while striving to maintain the critical climate goal of limiting global temperature rise to 1.5 °C.
Countries are expected to outline their heightened ambitions in the upcoming third round of national climate plans (NDCs), due by early 2025 in preparation for COP30 in Belem, Brazil. These NDCs, described as NDCs 3.0, must notably include ambitions to significantly expand renewable energy capacity by threefold by 2030.
During COP29 held in Baku, IRENA, alongside the UAE and the Global Renewables Alliance (GRA), co-organized a side event at the Global Renewables Hub. This discussion focused on the integration of the UAE Consensus Energy Outcomes into NDCs 3.0, examining both the challenges and opportunities that lie ahead.
Despite the addition of a record 473 GW of #renewable energy capacity in 2023, an annual growth rate of 16.4% is essential to fulfill the objectives of #UAEConsensus.
The government of the UAE, @IRENA, and @GRA_Renewables together hosted a side event at #COP29 to highlight the challenges and opportunities ahead… pic.twitter.com/PKloNC7dzQ
— IRENA (@IRENA) November 15, 2024
IRENA’s Director-General, Francesco La Camera, emphasized the importance of converting ambition into tangible efforts. “It’s not solely about having ambitious goals; it’s about executing them effectively. To align our progress with a trajectory leading to 1.5°C requires synchronized global initiatives to address the structural and systemic obstacles we face,” he stated.
The event’s opening remarks were delivered by H.E. Dr. Nawal Al-Hosany, UAE’s Permanent Representative to IRENA. Notable speakers also included H.E. Mr. Toeolesulusulu Cedric Pose Salesa Schuster, Samoa’s Minister of Natural Resources and Environment, Ms. Mariana Especie, Special Adviser to Brazil’s Energy Minister (upcoming host of COP30), and representatives from Kenya and Nigeria, among others.
Despite the declarations of ambitious climate targets through updated NDCs, the proposed pathways often fall short of meeting the Paris Agreement’s objectives. To address this gap, IRENA has been actively engaging with a total of 101 countries committed to the 2015 Paris Agreement.
The targets set for 2030, including #3xRenewables and #2xEnergyEfficiency, represent critical benchmarks for maintaining the 1.5 °C limit.
Launched at #COP29, a new report investigates national and regional strategies aimed at enhancing climate targets, along with the supportive roles played by @IRENA through its initiatives… pic.twitter.com/TicmisXnfu
— IRENA (@IRENA) November 15, 2024
Through these collaborative efforts, IRENA aims to bolster the enhancement and execution of NDCs with an emphasis on energy-related actions, as outlined in their recently published report, Climate Action Support 2024. This engagement spans approximately 5.9 billion individuals and encompasses a combined total of greenhouse gas emissions estimated at 31,818 million tonnes of CO2 equivalent as of 2023.
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www.irena.org