Today's Edition
MAYS IBRAHIM (ABU DHABI)
Francesco La Camera, the Director-General of the International Renewable Energy Agency (IRENA) commended the UAE's pivotal role in advancing the global energy transition, noting that its ongoing support and collaboration have been crucial in establishing the agency and advancing its mandate.
La Camera was speaking during the 15th session of the International Renewable Energy Agency (IRENA) Assembly, held in Abu Dhabi under the theme "Accelerating the Renewable Energy Transition – The Way Forward" on Sunday.
He noted that the theme of this year's Assembly was carefully chosen to "reflect and echo the urgency to shape policies and strategies that prioritise energy security, drive socio-economic development, and mobilise innovative financing solutions to drive the global energy transformation."
"The theme of this Assembly is not just a call for acceleration but is a reminder of our collective responsibility. The renewable energy transition represents a unique conversion of economic opportunity, human dignity, social equity, and environmental stewardship. It is a transition that transcends borders, unites sectors and empowers people."
La Camera further noted that recent global events, including geopolitical tensions and volatile fossil fuel markets, have amplified the need for resilient, sustainable energy systems.
"Renewables offer a path forward, a means to reduce dependence on finite resources, stabilise energy costs and empower countries to harness their domestic resources for energy independence," he said.
Despite significant progress in some areas, the world remains off track in delivering on its energy and climate promises, according to La Camera.
"The energy transition cannot be viewed as a mere response. In practice, it is a proactive strategy to get to the 1.5°C pathway and ensure long-term stability, equity and sustainability in the global energy landscape," he said.
La Camera presented the key findings of IRENA's report "Delivering on the UAE Consensus: Tracking progress toward tripling renewable energy capacity and doubling energy efficiency by 2030."
According to the report, renewable power capacity additions reached a record 473 gigawatts in 2023. Projections for 2024 suggest an additional 530GW of new renewable solar capacity; a new record, but still about half of what is needed - 11.2 terawatts by 2030.
Its findings also suggest that significant geographic disparities remain. Despite Africa's significant renewable energy potential and structural energy needs, the continent contributed only 1.6% of global stable renewable power capacity.
La Camera noted that socio-economic crises and existing inequalities made access to affordable, sustainable energy a pressing challenge. Moreover, current investment in renewable energy remains well short of the 2030 target of $1.5 trillion.
"The challenges we face are indeed immense. But so too are the opportunities to build a more sustainable, equitable, and secure energy future. Renewable energy can empower sustainable development, economic growth, great industrialisation and overall prosperity, especially in the most vulnerable countries and communities," he added.
IRENA's World Energy Transition Outlook identifies five key enablers to realise the energy transition: the need for remodelled policies, robust institutions, affordable financing, international collaboration, and modernised energy infrastructure.
La Camera noted that the upcoming revision of Nationally Determined Contributions (NDCs) offers an opportunity for countries to align national energy transition strategies and sustainable development priorities with climate action goals.
These include the targets set at COP28 to triple renewable energy capacity and double energy efficiency by 2030.
Over the next five years, IRENA has committed to assisting countries in renewing their NDCs, La Camera said.
In partnership with the UAE, IRENA is currently working to support 20 developing nations in strengthening their NDCs under the NDC Partnership to raise climate ambitions and drive urgent action.
