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IRENA to Monitor COP28 Energy Targets

The International Renewable Energy Agency (IRENA) has officially been tasked by COP28 President Sultan Al Jaber with monitoring progress on the United Arab Emirates (UAE) Consensus on renewable energy and energy efficiency goals. IRENA will deliver an annual report dedicated to tracking activity and providing recommendations on achieving key targets. The UAE Consensus notably calls for the tripling of renewables and doubling of energy efficiency by 2030 and for “transitioning away from fossil fuels in energy systems in a just, orderly and equitable manner” – with the overall goal of reaching net zero by 2050. IRENA Director-General Francesco La Camera welcomed the recognition of IRENA’s new custodian role, reiterating the agency’s “unwavering” commitment to the successful implementation of the consensus. “Given the centrality of the agency’s World Energy Transitions Outlook 1.5°C Pathway to the tripling of renewables and doubling of energy efficiency, [we are] best placed to monitor progress towards these vital outcomes and ensure commitments are transformed into firm action and progress on the ground,” he said. The annual tracking report will be led, developed and published by IRENA each year from 2024 to 2030, and will feature the latest data and projections, providing timely and accurate inputs to future COP engagements. “Tripling renewable energy capacity and doubling energy efficiency by 2030 are central parts of the UAE Consensus, agreed by all 198 Parties at COP28,” said Al Jaber. “The energy transition offers the greatest opportunity for social and economic development since the industrial revolution, and in IRENA we have a partner who understands both the need to transition to renewable energy and the [extent of this] opportunity.”

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