REN21

At #COP29, it's time to back climate and energy talk with finance! ✨Read the REN21 Outlook for COP29 to dive deep into what needs to happen in Baku to unleash the renewables revolution. Key priorities: ⭕Unlocking finance for renewable energy, energy efficiency and enabling systems and infrastructure. ⭕Closing the adaptation finance gap for renewables. ⭕An ambitious new climate finance target to enable renewables-focussed Nationally Determined Contributions (NDCs). And check out our agenda at COP here: https://lnkd.in/g-3-DJrN #RenewablesNow #REbootTheWorld #ChooseRenewables #baku #azerbaijan

Quick highlights from a long but exciting COP29 Energy Day -   Renewables for peace: REN21 started the day highlighting how renewables can promote peace in fragile conflict-ridden regions. They are an opportunity to build secure and stable economies and societies. Also, data shows the direct relation between fossil fuel and conflict. Long-term thinking and integrated policy are key to renewables uptake: China’s successful energy transition shows a perfect example. As Jeffrey Sachs puts it, “The western belief that markets alone can solve the energy transition is wrong. #China is the only country in the world that is creating renewable energy infrastructure, accomplishing integrated planning and following a long-term vision. " They are showing the world that the transformation from fossil fuels to a #renewablesbasedeconomy is possible and beneficial.   A systems approach gaining ground: With a greater focus on #energyinfrastructure, and added momentum by the grids and storage pledge, we’re seeing that more attention is being paid to transform the energy systems beyond energy supply. Remember – there are no cars, without roads and no renewables without enabling infrastructure!    Increasing regional collaboration: The Green Energy Zones and Corridors Pledge indicates that countries are increasingly recognising that the energy transition = economic development, and this is not possible without regional cooperation and cross-border infrastructure.   Another energy day event organised by the Marrakech Partnership: Some optimism, as there are solutions, innovation, and lots of inspiring stories on #renewables and #efficiency across the sectors, policy, finance and governance. There was certainly a lot of realism about the challenges and the need to accelerate implementation. While these are positive signals, we must remember how much further we still need to go. As UNEP’s Executive Director Inger Andersen put it, “We are breaking all the wrong records.” The year 2024 is on track to be the warmest year on record. To keep global warming below 1.5°C and adapt to climate change to ensure our societies and economies are backed by renewables – a real opportunity but also a challenging task. At this summit, the task is to deliver on finance. Financially, this requires 1.5 trillion USD annually. But in 2023, only 570 billion USD were invested in renewables and only 19% of this was in developing countries. We urgently need to address this #financegap. Adaptation finance for renewables was 126 million USD in 2023, but it’s key to unlocking private finance. #COP29 must deliver on the mitigation and adaptation finance goal A fitting end to the day: meeting with some REN21 Alumni and exchanging thoughts with the REN21 Secretariat about the alarming number of #manels we have seen! Stanley Center for Peace and Security | Energy Peace Partners | GEIDCO(Global Energy Interconnection Development and Cooperation Organization)

🌍 Day 5 at COP29: Highlighting Renewable Energy’s Role in Peace and Economic Stability Today’s discussions underscored the transformative potential of renewable energy in fostering peace, stable economies, and societal resilience. However, the path forward demands urgent action and global collaboration. The REN21 team placed renewable energy and energy efficiency at the heart of various conservations Including: “Renewable Energy as a Tool for Peace” by the Stanley Centre, “Promoting Low-carbon Energy Transition and Accelerating Global Climate Action” by GEIDCO(Global Energy Interconnection Development and Cooperation Organization) “Powering a Just and Resilient Future: Unlocking Investment for Renewable Energy Transitions in Developing Countries” by MPGCA, and our co-organised event with SFOC and Global Renewables Alliance (GRA) on “Enhancing Grid Flexibility to Triple Renewable Energy Growth” 💡 Key Insights from the Day: 1️⃣ Renewables as a Tool for Peace: Multistakeholder collaboration builds trust and resilience, ensuring energy systems deliver security while avoiding dependencies on critical minerals. 2️⃣ Learning from Success: China’s integration of industrial, economic, and social policies demonstrates how renewables can anchor economic transformation. Their capacity and vision are global assets. 3️⃣ Financial Realignment: Investments in fossil fuels in emerging economies must pivot to renewables. Global financial mechanisms need to empower developing nations to lead in this transition. 4️⃣ The Carbon Reality: With CO2 emissions at a record +1.3% in 2023, the remaining carbon budget demands an accelerated and economy-wide shift to renewables. It was a pleasure to reconnect with fellow REN21 Alumni; Laura E. Williamson, Fabio Passaro - Climate Bonds Initiative, Jessica Jones-Langley and Lea Ranalder - UN-Habitat (United Nations Human Settlements Programme) . At REN21, we are committed to fostering cooperation and bold action. The time to turn pledges into integrated policies and tangible results is now. #Renewables #COP29 #ClimateAction #EnergyTransition

COP29 Energy Day: From Policy Ambition to Action on Renewables 🌡️ 2024 is set to be the hottest year ever recorded, surpassing 1.5°C. The climate crisis is escalating, and action is overdue. At #COP29, the world must close the investment gap to meet the goals set at COP28: 💰  #Renewables: USD 1.5 trillion/year needed, yet only USD 570 billion invested in 2023. 💡  #Efficiency: Target is USD 2.2 trillion/year; just USD 323 billion was reached. The New Collective Quantified Goal (#NCQG) must scale up #climatefinance to reflect #renewable energy’s dual role in #mitigation and #adaptation—critical for building resilient communities. #Grids, storage, and infrastructure also need immediate investment. With 1,500 GW of projects stuck awaiting connection, coordinated action is essential to unlock renewable capacity. Renewables are indispensable for resilience, driving solutions like #solardesalination and decentralised power for flood-prone areas. Yet only 50 nations include adaptation uses of renewables in their NDCs. We must do better. Learn more in REN21’s latest reports here 🔗 : https://lnkd.in/g996bChG https://lnkd.in/gx3dUn2s The time for action is now. #RenewablesNow #EnergyDay #COP29

The LDES Council is pleased to release its Annual Report 2024. The report offers a current perspective and accounting on the global policy, regulatory and market environment for LDES, along with updated data and industry use cases. The report outlines the state of the #energy sector, including key reasons to build, deploy, and scale LDES technology, key findings about global LDES deployment, and seven critical enabling strategies and actions, so-called enablers, to accelerate the rollout of LDES. Access the Annual Report here: https://lnkd.in/gyXPnpyh Access the News Release here: https://lnkd.in/gQqAuSuB #LDESenablers are essential to deploy #1500GWby2030.

REN21 stands with Colombia as it faces severe flooding—a stark reminder of the urgent need for #climateaction and increased #renewables uptake. ⏪Yesterday in the morning, we spoke with the Colombian delegation at #COP29 about their strides toward an #equitable #energytransition—from fostering local energy communities and redirecting #fossilfuel subsidies to citizen energy, to building industrial activities – ranging from manufacturing, processing critical minerals, electric mobility, port, to logistics – all centred around renewables! 👉Colombia’s ambition to build a resilient, renewables-based economy is robust and developed through an integrated approach across various ministries, including energy, climate, and transport, and at different governance levels. Effective implementation will require substantial financial support from the private sector, as well as development and #climatefinance. 🗣COP29 must deliver the financing needed for countries like #Colombia, as their strong renewables ambition is essential to building #climateresilience and sustainable economies. This is why REN21 calls for greater financing for the energy transition—encompassing renewables, energy efficiency, and systems and infrastructure. Our latest intelligence brief also highlights how renewables can uplift communities in the aftermath of disasters, like the recent flooding in Colombia. We therefore call for the recognition of renewables as a key #adaptation measure and urge increased finance flows to renewables through adaptation channels. #RenewablesNow #REbootTheWorld Rana Adib Laura E. Williamson Hala Kilani

📢 Exciting News from #COP29!  🎤 We’re thrilled to be hosting two powerful dialogues during the second week of COP29 Azerbaijan, as part of our efforts to support a global transition to #renewables for #climateaction.  📆 November 18, 18:30 - 20:00 AZT: "Ensuring NDC Success: Connecting Global Renewable Energy Targets with Regional and National Ambitions" Find us in Side Event Room 7 at the Blue Zone. Co-developed by Regional Center for Renewable Energy and Energy Efficiency (RCREEE), the Renewables Grid Initiative, and REN21, this session will focus on aligning global renewable energy targets with actionable national plans through #NationallyDeterminedContributions (#NDCs). We’ll cover vital topics such as long-term planning, multistakeholder involvement, and successful regional approaches.  📆 November 19, 12:00 - 13:00 AZT: "Building Renewables-Centred Economies"  Find us at the Global Renewables Hub. This session will spotlight the #socioeconomic benefits of renewables-based #economies, touching on equitable policies, distributional justice, #jobcreation and industrialisation. 👉 We also have key roles in other events throughout the week! See our full programme HERE: https://lnkd.in/g-3-DJrN Join us on this journey in Baku for a #sustainable, renewables-led future. 

✨ REN21's 3 asks at #COP29 1️⃣ Unlocking greater public, concessional and grants-based finance for renewable energy, energy efficiency and enabling systems and infrastructure, while mobilising private investment. WHY? ⭕Despite COP28’s ambitious goal to triple renewable capacity additions by 2030, the world invested only USD 570 billion in renewables in 2023—far short of the $1.5 trillion required annually. In 2023, global grid investments reached USD 310 billion, only half of the annual amount required. ⭕Additionally, REN21 research reveals that the private sector has driven 75% of energy finance between 2018 and 2023. Public financing made up about 24% of the total, with development finance institutions accounting for just 1%. 2️⃣ Closing the adaptation finance gap for renewables, to unlock the climate, social and economic resilience benefits of renewables WHY? ⭕In 2022, only USD 9.5 million went to renewable projects through climate-related development finance, with 86% allocated to mitigation and a mere 1%—or USD 0.13 million—to adaptation. ⭕As of mid-2024, only 50 countries had included renewables as an adaptation measure in their NDCs. 3️⃣ An ambitious new climate finance target to enable renewables-focussed Nationally Determined Contributions (NDCs), especially in developing countries. WHY? ⭕ NDCs with a strong renewables focus can unlock the myriad benefits of renewables — ranging from supporting stable, secure, resilient economies and societies, creating jobs, enhancing gender parity, and, increasing energy access and affordability. Read our COP29 outlook here: https://lnkd.in/g-3-DJrN #RenewablesNow #REbootTheWorld #ChooseRenewables #GSR2024 #renewables #energyefficiency #3xRenewables

8 women. 70 men. Yesterday at COP29, we witnessed the gender disparity in leadership representation —a disturbing imbalance that underscores how far we are from truly inclusive energy and climate justice. At COP28 women representation was 11%, 6% at COP27 and 9% at COP26: women's participation on party delegations continues to stay the same as 10 years ago. We know that achieving a future built on renewables isn't only about policy changes; but about systemic changes. It’s about building an equitable and inclusive system that recognises and uplifts diverse voices. Without gender balance, we miss essential perspectives in decision-making and hinder our collective ability to address energy and climate challenges comprehensively. On a lighter note, I am quite proud to say that our team at REN21 is almost entirely women-led with Laura E. Williamson and Hala Kilani. 👉 Swipe for a photo of our delegation at COP29 and let’s connect to make the energy transition one that values gender parity!

With US climate leadership facing uncertainty, the UK’s commitment at COP29 to cut emissions by 81% by 2035 is a crucial demonstration of determination and climate leadership on the global stage. Countries like China, the EU, and Brazil have already invested heavily in renewables, and are seeing gains in energy security, job creation, and climate resilience. The UK’s move reinforces these benefits and highlights the need for strong climate action to secure stability and prosperity now and in the future. As climate-related disasters continue to impose severe economic costs — like the £100 billion in insured losses globally in 2022 — bold action from global leadership is essential. Now is the time for countries to drive the global momentum needed to deliver on an ambitious new finance target for renewables, energy efficiency, energy systems and infrastructure, and adaptation. https://lnkd.in/eDgDw3Ui #RenewablesNOW #COP29 #EnergyTransition