Despite the significant increase in renewable energy capacity, IRENA’s report warns that current trends are not aligned with the goal of limiting global warming to 1.5 degrees Celsius. The agency noted that achieving this target would require nearly 10 times the current level of renewable energy investment. While the growth in wind, solar, and other green technologies has been remarkable, IRENA stressed that systemic changes are necessary to scale up these efforts effectively.
IRENA’s findings come amid rising concerns about the impact of climate change on global ecosystems and human populations. The agency called on policymakers to implement stronger regulatory frameworks and incentivize private investment in clean energy projects. This includes streamlining permitting processes and offering long-term financial guarantees to attract more capital to the sector.
Experts suggest that the gap between current progress and necessary action is a result of both economic and political challenges. These include the reliance on fossil fuels in many economies, the need for large-scale infrastructure investments, and the influence of lobbying groups that may hinder the transition to renewable energy. IRENA is working with various stakeholders to develop a comprehensive roadmap that could guide countries toward meeting their climate commitments.