Abstract:

The report finds that renewable energy ambitions within NDCs are not only insufficient, but also fall short of what countries have committed to in domestic policies that exist outside the framework of the Paris Agreement (national laws, policies, roadmaps, plans, strategies). As per IRENA’s 1.5°C pathway, and the COP28 pledge to triple renewable power globally, renewable power generation capacity in the G20 countries alone would need to grow from less than 3 terawatts (TW) in 2022 to 9.4 TW by 2030, accounting for 80% of the global total. The commitments made in NDCs account for less than half of that required to align with the tripling renewables pledge, and those made in national energy plans and policies fall short by 30%. The report also notes that developing countries – mainly least developed countries (LDCs) and small island developing states (SIDS) – plan to double their renewable installed capacity, compared to 2022, to more than 110 gigawatts (GW) by 2030. However, more than half of this is conditional on international support in the form of financing, technical assistance, technology transfer or capacity building.