In a report titled 'REmap 2030' the International Renewable Energy Agency (IRENA) has urged countries to increase renewable energy to 36% of the world’s total final energy consumption by 2030 to save money and avoid climate catastrophe. The organisation underlines that this target is reachable, affordable and will keep the world on a trajectory consistent with a CO2 level of 450 ppm, the widely accepted threshold to limit global temperature increase to 2°C above pre-industrial levels by 2100.
According to IRENA the global expansion of renewable energy investment costs will be offset by savings of up to US$740bn per year on costs associated with fossil fuel pollution. The higher use of renewable energy will reduce the global demand for oil and gas by approximately 15% and for coal by 26% and reduce energy-related pollution and adverse health effects while increasing energy security for countries dependent on energy imports.