COP27 | Irena asks world leaders to close 'renewables' deployment gap'

The International Renewable Energy Agency in a new report released at the UN’s COP27 climate summit in Sharm el-Sheikh, Egypt, has urged world leaders to ‘close the renewable deployment gap’ or fail the Paris agreement goal to limit global temperature increases to 1.5° Celsius.

And out of those, only 12 countries had committed to a percentage of renewables in their overall energy mixes.

“At a time when we desperately need to see rapid implementation, I call on world leaders to urgently close the renewable deployment gap in pursuit of resilience, energy security and inclusive economies,” Irena director-general Francesco La Camera said.

“Irena’s report is a warning to the international community telling them that renewables offer a readily achievable climate solution but require immediate action. Climate pledges must enhance ambition to unlock the full and untapped potential of renewables.”

Despite the need for urgency, and some progress, the energy transition is far from being on track, La Camera added.

“Any near-term shortfall in action will further reduce the chance of keeping 1.5°C within reach.”

By 2030, countries are targeting to reach 5.4 terawatts of installed renewable power capacity – only half of the 10.8GW needed according to Irena’s 1.5° C scenario.

Renewable power targeted by 2030 remains concentrated in a few regions globally, Irena lamented, with Asia accounting for half of the global targeted capacity, followed by Europe and North America.

In comparison, the Middle East and North Africa account for just 3% of global deployment targets for 2030, despite the region’s high potential. And Sub-Saharan Africa accounts for just over 2%.