1. Global goal to triple renewable energy capacity by the end of the decade agreed at COP28.
2. Global Renewables Alliance launches ‘Time 4 Action’ campaign to mobilize US$10 trillion and establish policy frameworks.
3. Urgent action needed on finance, permits, supply chains, and grids to reach renewable energy target by 2030.
The Global Renewables Alliance (GRA) has initiated the ‘Time 4 Action’ campaign to achieve the goal of tripling renewable energy capacity by the end of the decade, with a call to mobilize US$10 trillion to reach the target. They emphasize the urgent need for policy frameworks to facilitate the deployment of 11,000 GW of renewables by 2030. The campaign aims to ensure affordable energy access, clean air, and high-quality jobs while redirecting financial resources primarily to emerging markets and developing economies.
The GRA stresses the importance of de-risking renewable investments, especially in emerging economies, to achieve the global target. They highlight the necessity of scaling up renewable deployment in the global south for a just and equitable energy transition. The International Hydropower Association (IHA) is a founding member of the GRA, emphasizing that a diverse renewables mix, including hydropower, is crucial for maximizing the benefits of new capacity.
Energy Global magazine covers these developments and technical articles on various aspects of the renewable energy industry. The Spring 2024 issue includes insights on battery storage solutions, the state of renewables in Europe, electrical infrastructure, turbine monitoring, battery technology, coatings, and more. This campaign underscores the urgent need for action and collaboration to achieve the ambitious renewable energy targets set for 2030.