IRENA: Renewables at the heart of climate action

“The energy sector accounts for more than two-thirds of global greenhouse gas emissions, and therefore must be the focus of climate action,” said Adnan Z. Amin, IRENA Director-General. “Transitioning rapidly to a future fuelled by renewable energy, accompanied by increasing energy efficiency, is the most effective way to limit global temperature rise. This transition is underway but it must be accelerated if we are to limit global temperature rise to two degrees Celsius.”

According to the report, in order to achieve a 36 per cent share of total energy, the uptake of renewable energy would need to "increase six-fold from current levels". Global annual investment required would need to nearly double, to "exceed USD 500 billion in the period up to 2020, and more than triple to exceed USD 900 billion from 2021 to 2030."

To help achieve this, the report outlines five actions for a sustainable energy future including: strengthening policy commitments, mobilising investments, building institutional capacity, linking renewables to Sustainable Development Goals and enhancing regional engagement.

The report found that additional benefits such as a significant increase in employment with increased focus on renewables: "The renewable energy sector employs 7.7 million people worldwide, creating more jobs per unit of electricity generated than coal or natural gas. If a 36 per cent share of renewables is achieved, employment levels could exceed 24 million jobs by 2030."

Amin added:“The strong business case for renewable energy has made the energy transition inevitable,” said Mr. Amin. “It is now not a question of if the world ultimately transitions to a renewable energy future, but rather whether it will do so quickly enough. At the upcoming climate talks in Paris, it will be up to countries to commit to strong targets, and in turn, give a strong political signal to catalyse further investments in renewable energy.”