The Global Renewable Alliance (GRA) has released an open letter signed by over 200 organizations, calling for a global target to triple renewable energy capacity to at least 11,000 GW by 2030 at COP28. This target aligns with the recent commitment made by G20 leaders to triple global renewable energy capacity. The letter emphasizes that a significant increase in renewable energy, coupled with improved energy efficiency, is the most efficient and cost-effective way to decarbonize the global economy and fight climate change.
The open letter, released during the UN General Assembly and New York Climate Week, underscores the need for rapid action in this critical decade to limit global warming to a 1.5°C pathway. It builds upon the agreements made at COP27 last year, which recognized the urgency to transform energy systems. The GRA, policymakers, and heads of international energy agencies are already gathering to discuss strategies to triple renewable energy capacity by 2030. This includes increasing the deployment of wind power, solar power, hydropower, and geothermal power, which will lay the foundation for the development of technologies like long-duration storage and green hydrogen.
Tripling renewable energy capacity presents significant opportunities to transform communities by powering homes, cars, and factories with clean electricity, creating green jobs, and attracting investments for economic growth. The letter stresses that achieving this target will reduce the impacts of climate change and pave the way for a sustainable, inclusive, and climate-resilient future.
To accelerate the deployment of renewable energy, the letter highlights the need for ambitious energy transition plans with concrete interim milestones, streamlined permitting schemes, increased investment in grid infrastructure, and the development of multilateral partnerships and trade agreements. Additionally, the letter urges policymakers to prioritize sustainability and technology standards, promote a level playing field in energy subsidies, enhance flexibility in electricity markets, recognize indigenous and land rights, enable corporate procurement of renewable energy, and implement robust carbon pricing.
The GRA’s call for tripling renewable energy capacity comes at a crucial time, as power sector emissions are at an all-time high and no country is currently on track to limit global warming to 1.5°C. It emphasizes the need for a profound transformation of the energy system and calls for global cooperation to mobilize financial and technical resources for developing economies. With a holistic approach to energy system transformation, including advancements in energy efficiency and electrification, the target of tripling renewable energy capacity by 2030 can be achieved.
Sources:
– Global Renewable Alliance (GRA)
– United Nations General Assembly
– New York Climate Week
– Conference of the Parties (COP)