Tag: IRENA

IFC Partners with IRENA; Pledges $1 Billion to Scale Up Renewable Energy Projects

Stuart Mitchell

The International Finance Corporation (IFC) recently signed a partnership agreement with the International Renewable Energy Agency (IRENA) and pledged $1 billion to accelerate the transition to clean energy in emerging markets. With this partnership, IFC joins the Energy Transition Accelerator Financing Platform (ETAF), a climate finance mechanism managed by IRENA that advances the global energy transition in IRENA member countries. IFC will bring its expertise to ETAF, increasing the flow of private capital towards ETAF projects, while IRENA will leverage its membership to attract project proposals through the platform. “We…

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IRENA and World Meteorological Organization Launch Report on Renewable Energy and Climate Variability

Stuart Mitchell

The International Renewable Energy Agency (IRENA) and World Meteorological Organization (WMO) have released their first joint report to strengthen understanding of renewable energy resources and their intricate relationship with climate variability and change. It seeks to inform policymaking and hasten the transition away from polluting fossil fuels and towards a cleaner, greener energy future. The report, launched at COP28 in Dubai today, highlights the key role of weather and climate information and services in meeting the untapped potential and challenges in the transition to renewable energy. Renewables now dominate new…

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Renewables Jobs Nearly Doubled in Past Decade, Soared to 13.7 Million in 2022

Stuart Mitchell

Worldwide employment in renewable energy reached 13.7 million in 2022, an increase of one million since 2021 and up from a total of 7.3 million in 2012, according to a new report by the International Renewable Energy Agency (IRENA) and the International Labour Organization (ILO). The tenth edition of Renewable Energy and Jobs: Annual Review 2023, is the product of a continuing collaboration between the two agencies. The report found that renewable energy is attracting increasing investment, leading to job creation in a growing number of countries. However, as in…

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G20 Leaders Endorse IRENA Recommendations for Global Renewable Energy Adoption

Stuart Mitchell

G20 leaders agreed to accelerate efforts to triple global renewable energy capacity by 2030, aligning with recommendations from the International Renewable Energy Agency (IRENA) on how the world can move in line with the Paris Agreement targets. In a declaration adopted on Saturday, the Group cites a joint report between IRENA and India’s G20 Presidency, titled “Low-Cost Financing for Energy Transitions”, which estimates a need for over USD 4 trillion in annual investments by 2030. According to IRENA’s “World Energy Transitions Outlook 2023”, released earlier this year in June, the…

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IRENA and AUDA-NEPAD Join Forces to Advance Regional Interconnections in Africa

Stuart Mitchell

The International Renewable Energy Agency (IRENA) and the African Union Development Agency (AUDA-NEPAD) signed an agreement aimed at supporting African countries in their efforts to achieve the African Union’s Agenda 2063 and the United Nations Sustainable Development Goal 7 to ensure access to affordable, reliable, sustainable and modern energy for all. The agreement was signed by IRENA Director-General Francesco La Camera and AUDA-NEPAD CEO Nardos Bekele-Thomas on the margins of Africa Climate Week in Nairobi. “Acknowledging that 80% of the global population without access to electricity resides in Sub-Saharan Africa,…

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