COP25: Renewable energy ambition must double
Published: 6 December 2019 - Carly Wills
Countries are being urged to significantly raise renewable energy ambition and adopt targets to transform the global energy system in the next round of Nationally Determined Contributions (NDCs), according to a new report by the International Renewable Energy Agency (IRENA) that will be released at the UN Climate Change Conference (COP25) in Madrid.
The report will show that renewable energy ambition within NDCs would have to more than double by 2030 to put the world in line with the Paris Agreement goals, cost-effectively reaching 7.7 terawatts (TW) of globally installed capacity by then. Today’s renewable energy pledges under the NDCs are falling short of this, targeting only 3.2TW.
The report NDCs in 2020: Advancing Renewables in the Power Sector and Beyond will be released at IRENA’s official side event on enhancing NDCs and raising ambition on 11 December 2019. It will state that with over 2.3TW installed renewable capacity today, almost half of the additional renewable energy capacity foreseen by current NDCs has already been installed. The analysis will also highlight that delivering on increased renewable energy ambition can be achieved in a cost-effective way and with considerable socio-economic benefits across the world.
“Increasing renewable energy targets is absolutely necessary,” said IRENA’s director-general Francesco La Camera. “Much more is possible. There is a decisive opportunity for policy makers to step up climate action by raising ambition on renewables, which are the only immediate solution to meet rising energy demand whilst decarbonising the economy and building resilience.”
NDCs must become a driving force for an accelerated global energy transformation. The current pledges reflect neither the past decade’s rapid growth nor the ongoing market trends for renewables. Through a higher renewable energy ambition, NDCs could serve to advance multiple climate and development objectives.