Nations around the world can make breakthroughs in the shift to renewable energy, the United Nations Development Programme (UNDP) and the International Renewable Energy Agency (IRENA) said today, adding that such a move would drastically cut emissions and help the world get on track to meet the Paris climate goals and limit global warming to 1.5 degrees Celsius.
Action by countries to stop the continued progression of fossil fuels is possible, UNDP and IRENA said at a joint event held at the UN Climate Summit in Madrid.
Renewable energy deployment would have to accelerate six-fold by 2030 if the world is to achieve the goal of cutting global carbon emissions by 45 per cent and keep temperatures below 1.5 degrees Celsius above pre-industrial levels, IRENA said.
In September, UNDP launched a new initiative called the ‘Climate Promise’, vowing to support as many countries as possible to revise and submit enhanced climate pledges – known as Nationally Determined Contributions – or NDCs, by 2020.
Working with the NDC partnership and other partners, UNDP will support 100 countries to accelerate the enhancement of national climate pledges by 2020, building on its climate action portfolio in over 140 countries. Energy is a crucial part of this work and IRENA will provide the necessary knowledge, and support countries to accelerate energy transitions driven by renewable energy.
To date, 78 countries are drawing upon UNDP’s experience in disaster risk reduction, gender, health and nature-based solutions.
According to IRENA, out of the 156 NDCs submitted to date, 135 countries mention renewables but most are underutilising renewables to raise their ambition. The agency also estimates that over USD 1.7 trillion would be needed by 2030 annually to implement adequate renewable energy targets, though much of that funding could come as a result of eliminating fossil fuel subsidies.
