World Energy Transitions Outlook 2024

Despite the commitments made at COP28 in Dubai in 2023 – including the call on parties to triple renewable power capacity and double the rate of energy efficiency improvement by 2030 – and new initiatives from both the G20 and G7, the energy transition remains off track. Fossil fuels continue to dominate the energy mix in major economies, and each year the chances of meeting the goals of the Paris Agreement become increasingly remote. The success achieved this decade in reducing greenhouse gas emissions will determine whether global temperature rise can be limited to 1.5°C of pre-industrial levels this century. IRENA’s 1.5°C Scenario, set out in the World Energy Transitions Outlook, presents a pathway to achieve the 1.5°C target by 2050, positioning electrification and efficiency as key transition drivers, enabled by renewable energy, clean hydrogen and sustainable biomass. →