STATEMENT: Tripling Renewables by 2030 is Within Reach

PARIS, FRANCE (September 24, 2024) - According to a new report by the International Energy Agency (IEA), it is possible to triple renewable energy by 2030, fulfilling the pledge made by nearly 200 countries at COP28 just a year ago. The report points to favorable economics and policies paving a path forward but notes that significant investment is needed to expand grid infrastructure and that permitting processes require reform.

The report also notes that in the 'COP28 Full Implementation Case,' nearly three-quarters of the reduction in oil demand by 2030 comes from measures related to the doubling of energy efficiency. Energy efficiency measures are similarly responsible for half of the reduction in natural gas demand. Efficiency policies also limit the need for investment in additional infrastructure, such as electricity grids, and allow time for developing market rules, supply chains and the workforce skills necessary for the transition away from fossil fuels.

Following is a statement from Jennifer Layke, Global Director, Energy, World Resources Institute:

"Tripling the world's renewable energy is entirely achievable with the right policies and investment. Modernizing electric grids and simplifying permitting should be on the top of every country's policy agenda. No country will be able to meet its climate goals without these grid reforms.

"What remains sobering is that governments and investors continue to leave huge renewable energy opportunities unrealized in lower income countries. We cannot have a world where only wealthy countries build renewables and upgrade power sector infrastructure while others are left behind.

"We will only succeed in delivering an energy transition if the doubling of energy efficiency is as much a political priority as renewable energy deployment. Efficiency investments make economies more productive. Households and industries need the full range of benefits - resiliency, clean air, and economic benefits - that tripling renewable energy and doubling energy efficiency can provide. Governments and the private sector alike need to do more to bring clean, efficient technologies and storage solutions to all people - not just those who can afford to move first."

• Alex Dolan

  Communications and Engagement Lead, Global Energy

• Darla Bijou van Hoorn

  Media Relations Manager