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Public-private collaboration to track Global Renewables Target progress

Public-private collaboration to track Global Renewables Target progress
Bruce Douglas (left), CEO of Global Renewables Alliance (GRA), and Francesco La Camera, Director-General of International Renewable Energy Agency (IRENA). IRENA has selected GRA as the exclusive private sector partner for its annual report series to track the tripling of renewable power capacity and doubling of energy efficiency by 2030 (photo courtesy GRA).

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.

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 endeavor, 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.

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.

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.

Global Renewables Summit

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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