The Global Renewables Alliance (GRA) has released a set of policy recommendations to ensure the full potential of renewables is realised and the goal of tripling renewable energy by COP28 is delivered. The commitment in Dubai aimed to steer the world back onto the 1.5°C pathway, but current national policies risk falling short of this target.
GRA has announced support for its broader Time 4 Action campaign from 16 global companies, including Fortescue, Ørsted, EY, Vestas, CIP, SSE, EDP, Corio Generation, ERM, and Iberdrola. This diverse coalition, from energy suppliers to energy buyers, highlights the broad support for a clean, secure, and just energy system.
The agenda, titled ‘Actions to Deliver 3x Renewables by 2030,’ provides recommendations for policymakers to unlock key barriers and accelerate renewable energy deployment. It builds on the collaborative report by GRA, the COP28 Presidency, and the International Renewable Energy Agency (IRENA), setting the foundation for the global renewables target secured at COP28. The agenda emphasises action in four core areas:
- Finance: Mobilising USD 10 trillion in renewables investment, especially in emerging markets.
- Supply chains: Enhancing supply chain resilience and sustainability.
- Permits: Accelerating permitting processes to expedite project development.
- Grids: Optimising and expanding grid infrastructure to integrate renewable energy.
