Abu Dhabi, UAE, 29 March 2022 – Short-term interventions addressing the current energy crisis must be accompanied by a steadfast focus on mid- and long-term goals of the energy transition. High fossil fuel prices, energy security concerns and the urgency of climate change underscore the pressing need to move faster to a clean energy system, says
World Energy Transitions Outlook 2022.
Launched by the International Renewable Energy Agency (IRENA) at the Berlin Energy Transition Dialogue today, the Agency’s Outlook sets out priority areas and actions
based on available technologies that must be realised by 2030 to achieve net zero emissions by mid-century. It also takes stock of progress across all energy uses to date, clearly showing that the current pace and scale of the renewables-based transition is inadequate.
Renewables would have to scale-up massively across all sectors from 14% of total energy today to around 40% in 2030. Global annual additions of renewable power would triple by 2030 as recommended by the Intergovernmental Panel on Climate Change (IPCC). At the same time, coal power would have to resolutely be replaced, fossil fuel assets phased out and infrastructure upgraded.
The Outlook sees electrification and efficiency as key drivers of the energy transition, enabled by renewables, hydrogen, and sustainable biomass. End-use decarbonisation will take center-stage with many solutions available through electrification, green hydrogen, and the direct use of renewables. Notably electromobility is seen as driver of energy transition progress, growing the sales of electric vehicles (EV) to a global EV fleet twenty times bigger than today.
However, a comprehensive set of cross-cutting, structural policies covering all technological avenues and just transition objectives is needed to achieve the necessary deployment levels by 2030. Increasing ambition in the National Determined Contributions (NDCs) and national energy plans under the Glasgow Climate Pact must provide certainty and guide investment strategies in line with 1.5°C.
Particularly the world’s largest energy consumers and carbon emitters from the G20 and G7 must show leadership and implement ambitious plans and investments domestically and abroad. They would need to support the global supply of 65% renewables in power generation by 2030. Climate finance, knowledge transfer and assistance would have to increase for an inclusive and equal world.
Finally, enabling a rapid transition that complies with climate and development goals requires political commitment to support the highest level of international cooperation. Achieving Sustainable Development Goals and universal access to modern energy by 2030 must remain a vital pillar of a just and inclusive energy transition. A holistic global policy framework can bring countries together to enable international flow of finance, capacity and technologies.