energy

The International Energy Agency (IEA) has announced the launch of the Global Commission on People-Centred Clean Energy Transitions.

Co-chaired by Deputy Prime Minister Teresa Ribera of Spain and Minister Alexandre Silveira of Brazil, the Commission will examine how to design and implement policies for a more equitable energy system, it was shared. 

Members will reportedly work to identify strategies to ensure all energy transition policies “reflect the principle of fairness and help improve energy affordability.”

It will also seek to establish key mechanisms for monitoring and measuring the effectiveness of these policy tools, as well as the social impacts of transitions more broadly.

The Commission comprises energy, climate and labour leaders from governments around the world, along with high-level representatives from international organisations and labour, Indigenous, youth and civil society groups.

IEA Executive Director Fatih Birol commented: “Clean energy transitions will only succeed if their advantages are shared with all parts of society – including communities that have historically been at the margins of the energy economy. This starts with fair and equitable policies, which are the focus of this new Global Commission.”

Indeed, research shows that there remains a significant geographical disparity in renewable energy finance, renewables capacity and deployment, and energy access.

“To ensure a just energy transition is a shared responsibility. The energy transition should not only be a change in the colour of electrons or molecules, but also an opportunity to ensure access to affordable energy, reduce inequalities and generate redistributive economic opportunities,” said Deputy Prime Minister Ribera. 

Adding: “This Global Commission is an important tool to coordinate our work in this way.”

The Global Commission on People-Centred Clean Energy Transitions is set to hold its first meeting in October at the G20 Energy Transitions Ministerial Meeting in Foz do Iguaçu, Brazil.

The International Renewable Energy Agency (IRENA) has reaffirmed findings from the IEA last month that the world risks missing the tripling renewables 2030 target pledged at COP28. 

According to the Renewable Energy Statistics 2024, in order to stay on course, the world now needs to grow capacity at a minimum 16.4 per cent rate annually through 2030.

Last year, renewables grew at a record pace, with a 14 per cent increase in renewable capacity. However, if this rate were to continue, IRENA warns that the world will fall 1.5 TW short, missing the target by 13.5 per cent.

The report also outlines that last year’s growth established a 10 per cent compound annual growth rate. If this were to be maintained, the world would miss the target by almost one-third.

The geographical disparity in capacity was also highlighted, with Asia holding its lead position in renewable power generation with 3,749 Terawatt hours (TWh), followed by North America.

South America was also highlighted for its progress, with an increase of nearly 12 per cent to 940 TWh, as a result of hydropower recovery and a greater role of solar energy.

However, Africa saw a growth of 3.5 per cent in 2022, bringing its renewable power generation to 205 TWh.

“Consolidated global figures conceal ongoing patterns of concentration in geography. These patterns threaten to exacerbate the decarbonisation divide and pose a significant barrier to achieving the tripling target,” said IRENA Director-General Francesco La Camera.

Adding: “Renewable energy has been increasingly outperforming fossil fuels, but it is not the time to be complacent. Renewables must grow at higher speed and scale.”

La Camera urged that “concrete policy actions” and massive mobilisation of finance at “full speed” are required. 

HE Dr Sultan Al Jaber, COP28 President, said the report is a “wake-up” call for the entire world, and called for increased collaboration between governments, the private sector, multilateral organisations, and civil society.

“Governments need to set explicit renewable energy targets, look at actions like accelerating permitting and expanding grid connections, and implement smart policies that push industries to step up and incentivise the private sector to invest,” said HE Dr al Jaber. 

Adding: “Additionally, this moment provides a significant opportunity to add strong national energy targets in NDCs to support the global goal of keeping the 1.5°C target within reach. Above all, we must change the narrative that climate investment is a burden to it being an unprecedented opportunity for shared socio-economic development.”