June 17, 2024

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Public-private Collaboration to Track Progress on Global Renewables Target

Brussels/Abu Dhabi, 17 May 2024: 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”, said Francesco La Camera, Director-General of IRENA.

“We are delighted to be working with IRENA on their annual report to track the tripling of renewables to 2030. With industry data from GRA members, combined with the data from IRENA, we will monitor the progress towards 2030. This public-private collaboration will help accelerate and facilitate the scaling of renewable energy, and encourage the urgent actions required in this essential decade,” said Bruce Douglas, CEO of GRA.

Complementing the tracking report, IRENA and GRA will also collaborate ahead of COP29 on the Global Renewables Summit. The event represents the first high-level summit bringing together the public and private sectors to discuss the progress, challenges and opportunities of reaching 11,000 GW of installed renewable capacity by 2030. The Summit, which will take place during Climate Week NYC, will serve as a platform to follow up on the outcomes of COP28 and identify key areas of action to deliver progress in the tripling of renewables, with a focus on emerging markets and developing economies (EMDEs).

IRENA and GRA will also host a joint Global Renewables Hub at COP29, creating a space for industry leaders, government officials and representatives from civil society to discuss key strategic aspects of the clean energy transition.

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