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IEA: COP28 Tripling Renewable Capacity Pledge Review Report

by Madaline Dunn

The International Energy Agency (IEA) has released its ‘COP28 Tripling Renewable Capacity Pledge: Tracking countries’ ambitions and identifying policies to bridge the gap’ report.

The report covered more than 145 countries and assessed whether renewable energy deployment trends are in line with government ambitions and the goal of reaching 11, 000 gigawatts (GW) of capacity by 2030.

The report found that only a few countries explicitly lay out renewable capacity ambitions in their current Nationally Determined Contributions (NDCs).

Indeed, of the 194 Nationally Determined Contributions previously submitted, only 14 of them include explicit targets for total renewable power capacity for 2030.

Further, official commitments in NDCs currently amount to 1,300 gigawatts (GW), which is just 12 per cent of what is required to meet the global tripling objective set in Dubai.

Moreover, the IEA outlined that, even if all countries were to fully implement their current ambitions, the world would fall 30 per cent short of tripling global renewable capacity to over 11,000 GW by 2030.

Current levels of ambition also vary drastically across countries.

Moreover, to meet national ambitions and spread progress more widely, the pace of deployment needs to accelerate in most regions and major countries – including the European Union, the United States and India, it said.

Major scaling up of deployment is also needed in Southeast Asia, the Middle East and North Africa, and Sub-Saharan Africa, the report noted.

The IEA outlines that countries need to adopt supportive policies to bridge gaps in both ambition and implementation.

Read the full report here.

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