A key aspect of the text of the Outcome of the First Global Stocktake was the explicit recognition of the role of renewable energy in rapidly and drastically reducing global greenhouse gas emissions to align the world with a 1.5°C-compatible pathway. To this end, the text called on all Parties to the Convention to contribute to efforts to triple renewable energy capacity globally and double the global average annual rate of energy efficiency improvements by 2030.

This unprecedented call by almost 200 countries for a rapid scaling up of global renewable power capacity was based on the intellectual framework of IRENA’s 1.5°C Scenario, as outlined in a collaborative report produced with COP28 Presidency and the Global Renewables Alliance (GRA), launched at Pre-COP in Abu Dhabi in 2023, Tripling renewable power and doubling energy efficiency by 2030: Crucial steps towards 1.5°C.

Following COP28, in early 2014, the COP28 Presidency designated IRENA as the custodian agency for tracking and reporting on these goals each year through 2030. This report is the first edition of this series and this year brings together IRENA, the UAE Consensus/COP28 Presidency, the COP29 Presidency, GRA, the Federal Government of Brazil and the Ministry of Energy of the Republic of Azerbaijan.

The report finds that across almost all metrics – excepting Solar PV capacity growth – the world has fallen further behind the trajectory of renewable power capacity additions and energy efficiency improvements required to meet the UAE Consensus goals. However, it builds upon the recommendations provided in the 2023 report by offering key actions for policy makers to enable a course-correction that will re-align the energy transition with the Paris Agreement goals and the 2030 targets.

Report by the International Renewable Energy Agency