European countries have been told to “double” their renewable energy targets by 2030 or risk not meeting the Paris Agreement, according to a report due out next week.
The new report by the International Renewable Energy Agency (IRENA) will urge countries to “significantly raise” their clean energy ambitions to meet the 7.7 tarawatts(TW) of energy required.
The report will be released next week at the UN Climate Change Conference (COP25) in Madrid.
It will state that with over 2.3 TW installed renewable capacity already in place, delivering on the increased renewable energy ambition can be achieved in a “cost-effective way” and socially beneficial way.
IRENA’s director-general Francesco La Camera said: “Increasing renewable energy targets is absolutely necessary.
“Much more is possible. There is a decisive opportunity for policy makers to step up climate action by raising ambition on renewables, which are the only immediate solution to meet rising energy demand whilst decarbonising the economy and building resilience”.
“IRENA’s analysis shows that a pathway to a decarbonised economy is technologically possible and socially and economically beneficial.
“Renewables are good for growth, good for job creation and deliver significant welfare benefits.”