Full Title: Tripling Renewable Power by 2030: The Role of the G7 in Turning Targets into Action
Author(s): Michael Taylor
Publisher(s): International Renewable Energy Agency
Publication Date: April 15, 2024
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Description (excerpt):
The 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in the United Arab Emirates called upon countries to achieve a tripling of installed renewable power generation capacity by 2030 in order to keep the world on a pathway compatible with the 1.5°C climate goal.
The G7 will play an important role in delivering on this global goal, both directly through the expansion of renewable power capacity within its members, and indirectly by leading action to address deployment and integration barriers, and supporting emerging and developing economies (EMDEs) in delivering their contributions to the global tripling goal. Crucial enabling actions include grid modernisation and expansion, scaling-up electricity storage, unlocking low-cost finance volumes – especially in emerging and developing economies – and delivering the skilled workforce needed for the transition.
This report illustrates the progress achieved across a range of energy transition metrics and offers key recommendations to the G7 on how best to advance their aims and keep the world on track to meet the goals of COP28 and the Paris Agreement.