According to a new report released by the International Renewable Energy Agency (IRENA), the COP30 Brazilian Presidency, and the Global Renewables Alliance (GRA), the world is falling behind on its renewable energy and efficiency goals despite achieving record progress in 2024. The report, launched during a pre-COP30 high-level event in Brasília, highlights that while global renewable energy capacity additions reached an unprecedented 582 gigawatts (GW) last year, this progress is still insufficient to meet the COP28 UAE Consensus target of tripling renewables to 11.2 terawatts (TW) by 2030.
To stay on course, the report states that the world must now add around 1,122 GW of new renewable capacity every year from 2025 onwards, requiring an annual growth rate of 16.6% through the decade. These findings are presented in the publication Delivering on the UAE Consensus: Tracking progress toward tripling renewable energy capacity and doubling energy efficiency by 2030, the second official assessment of global progress toward the landmark goals established at COP28.
The report also expresses concern over the lack of progress in improving energy efficiency. In 2024, global energy intensity improved by only 1%, which is far below the 4% annual increase required to achieve the UAE Consensus objective and to keep the 1.5°C global warming limit within reach. To close these gaps, the report calls for immediate global action.
It urges countries to integrate renewable energy targets into their national climate plans (NDC 3.0) ahead of COP30 in Belém, double their collective ambitions to align with the global renewables target, and scale up investments in renewable energy to at least USD 1.4 trillion per year between 2025 and 2030. This would be more than double the USD 624 billion invested in 2024.
United Nations Secretary-General António Guterres underscored the urgency of the moment, noting that the clean energy revolution is “unstoppable” and that renewables are being deployed faster and at lower costs than fossil fuels. He stressed that renewables are creating jobs, driving growth, and making energy more affordable, but cautioned that “the window to keep the 1.5°C limit within reach is rapidly closing.” He called on all nations to “step up, scale up, and speed up the just energy transition – for everyone, everywhere.”
Francesco La Camera, Director-General of IRENA, echoed this message, emphasizing that while the world has achieved record levels of renewable capacity, “records alone will not keep 1.5°C alive.” He described renewables as both the most cost-effective climate solution and the greatest economic opportunity of our time. He further added that accelerating deployment, modernising power grids, scaling clean technology, and strengthening supply chains are essential next steps. “Every dollar invested brings growth, jobs, and energy security,” La Camera said, calling for greater ambition from major economies through increased targets, mobilised finance, and deeper international cooperation.
Ben Backwell, Chair of the Global Renewables Alliance, highlighted the crucial role of the private sector, which currently contributes around 75% of global clean energy investment, particularly in wind, solar, and hydropower. He stressed the need for long-term government strategies that align with national ambitions and support project delivery. “We need plans that create enabling conditions for grids, storage, and project pipelines,” he said, adding that the report shows the transition to renewable energy abundance is already underway — it just needs to accelerate.
The report also underlines that major economies must take the lead in achieving global renewable energy goals. G20 nations are projected to account for over 80% of global renewable capacity by 2030, with G7 countries expected to contribute around 20%. Wealthier nations are urged to set an example by increasing their renewable energy commitments and supporting developing countries through finance and technology transfer.
In addition, the report calls on developed nations to fulfill their climate finance commitments by meeting the USD 300 billion annual floor of the New Collective Quantified Goal (NCQG) and moving toward the aspirational USD 1.3 trillion target agreed upon at COP29 in Azerbaijan.Beyond renewable generation, the report emphasizes the urgent need to strengthen supporting infrastructure such as power grids, supply chains, and clean-tech manufacturing for solar, wind, batteries, and hydrogen. Although global renewable energy investments rose by 7% in 2024, funding remains well below what is required to establish strong project pipelines and accelerate construction.
It also stresses the importance of fair and transparent trade practices for renewable technologies and greater international cooperation to secure supply chains for critical materials and components. Modernizing and expanding electricity grids is another top priority, as grids form the backbone of the clean energy transition. The report estimates that an annual investment of USD 670 billion will be required through 2030 to strengthen and expand grid infrastructure, scale up energy storage systems, and ensure grid stability as renewable energy capacity continues to grow.
In conclusion, the report warns that while progress has been made, it remains too slow to meet global energy and climate targets. Without stronger policies, higher investments, and international collaboration, the 1.5°C goal will slip out of reach. However, with bold and coordinated action, the world can still accelerate the clean energy transition and build a sustainable, secure, and inclusive energy future.
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