The International Renewable Energy Agency (IRENA) has announced that the world needs to increase its yearly renewable capacity additions to at least 1,122 GW to meet the 11.2 TW target of the COP28 UAE Consensus for 2030 (IRENA press release, 14/10/2025).
- The “Delivering on the UAE Consensus: Tracking progress toward tripling renewable energy capacity and doubling energy efficiency by 2030” estimates that during 2024 the world added 582 GW of new renewable capacity.
- Global energy intensity is also required to increase from its recorded 1% in 2024, requiring a 5% annual improvement between 2025 and 2030.
Additionally, the report recommends to direct about US$1.4tr per year towards developing renewable capacities (US$624bn in 2024), of which around US$670bn yearly should be dedicated towards modernising and expanding electricity grids.
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