International Renewable Energy Agency (IRENA)

#IRENAatCOP29👇 Day 4⃣ at #COP29 spotlighted much needed momentum and pivotal discussions for advancing a fair and just #energytransition: ➡ Mobilizing #renewableenergy finance in emerging economies ➡Building climate resilience in SIDS ➡Enablers of trade in hydrogen derivatives Watch📽️

New publication: International Renewable Energy Agency (IRENA) and the WTO Secretariat outline key policy considerations for fostering trade in renewable hydrogen and its derivatives. More: https://bit.ly/4hNnXqo #COP29 #WTOatCOP29

Launched during #COP29 in Baku, a new report by the International Renewable Energy Agency (IRENA) and World Trade Organization highlights the opportunities associated with scaling international markets for renewable #hydrogen and derivatives, including #renewable ammonia, methanol and e-kerosene.   Director General Francesco La Camera La Camera joined his counterpart at the WTO, Dr Ngozi Okonjo-Iweala, at the Trade House pavilion this afternoon to launch the report. The launch event convened high level stakeholders from various member countries for a panel discussion moderated by Rebecca Maserumule, Ph.D., Chair of the International Partnership for Hydrogen and Fuel Cells in the Economy. The discussion focused on how trade ambitions for green hydrogen and renewable commodities can be realised.   In this report IRENA and the WTO draw attention to the infrastructural enablers and trade policy measures which governments should consider as tools available to support the scaling of these green commodities in their economies. The report also draws attention to the vital role of international collaboration in shaping these markets, highlighting important efforts like international standardisation and the alignment of certification.   Read the report: https://lnkd.in/dFeHzWhG

📍  Canada Pavilion, Blue Zone, #COP29Baku Communities that are geographically isolated, such as those on remote islands, in mountainous regions, sparsely populated areas, or indigenous tribes with low energy demands, often have the least access to affordable and modern energy. This issue is exacerbated by poverty and a reliance on fossil fuels like diesel, where they are affordable. Additionally, populations displaced by conflict or natural disasters face similar challenges. Addressing the energy needs of these remote communities is crucial for achieving the targets set by #SDG7 and the #ParisAgreement. In light of this, Natural Resources Canada (NRCan) Canada and International Renewable Energy Agency (IRENA) are hosting an event at #COP29 under the Global Initiative on Transitioning Remote Communities to #RenewableEnergy.

Fossil fuels continue to dominate the energy mix in major economies, comprising 70% of their energy supply and underscoring the urgency of a global shift to #renewables. According to International Renewable Energy Agency (IRENA), aiming for #3xRenewables would lead to #renewableenergy forming 91% of electricity supply by 2050, with fossil fuels reduced to just 4%. This transformation will require targeted policies and robust financial backing. Read the report to discover the strategic path forward provided by IRENA for policy makers: bit.ly/3YXNAgK

Day 3⃣ at #COP29Baku ⤵️ ➡️Global Renewables Hub welcomed next generation of decision makers, who are critical to the #energytransition. ➡️Global decision makers convened to chart out strategic ways of international collaboration for ramping up #renewablenergy investments in emerging economies and developing countries. Watch📽️

A renewables-based energy transition provides a chance to rewrite the script for extractive commodities and ensure their value chains are more inclusive, ethical and sustainable. At the United Nations Secretary General António Guterres’s meeting on critical resources at #COP29Baku, I highlighted the importance of refining and processing resources at their points of extraction to maximize local benefits. For a more nuanced perspective on the many complex issues at play, read IRENA's full report: https://lnkd.in/d9mMQEsr

At #COP29Baku, world leaders championed #APRAfrica, committing to expand support and scale up funding: https://lnkd.in/da4N6mMw Two key announcements marked the event with #SierraLeone proposing to host the next APRA Investment Forum, & Germany unveiled plans to establish an implementation office in Nairobi through UNOPS.

⚡️By the youth for the youth➡️Intergenerational action for #3xRenewables by 2030 International Renewable Energy Agency (IRENA) & Global Renewables Alliance (GRA) convened a youth circle at #COP29 today which served as a platform for young people to engage with decision makers on key issues for #renewableenergy transition, education, resources for youth-led innovation, entrepreneurship and job creation. Participants identified ways to address critical issues at hand and further engage in energy policy space.

A significant gap remains between political announcements and countries’ actual plans and policies, in terms of #CO2 emission reduction, #renewable capacity additions & investments. International Renewable Energy Agency (IRENA)'s World Energy Transitions Outlook shows that current national plans and targets are set to deliver only half of the required growth in renewable power by 2030. While renewable power deployment has exceeded expectations in some countries, other aspects such as investment disparities, uneven geographical distribution of renewable power, lack of grid infrastructure, less energy efficiency continue to hinder the achievement of the #energytransition. More needs to be done to ensure the transition is just and inclusive. https://bit.ly/3YXNAgK