According to the International Renewable Energy Agency (IRENA), CO2 emissions from the energy sectors can be reduced by 70 per cent by 2050 and can be completely phased-out by 2060.
The report “Perspectives for the Energy Transition: Investment Needs for a Low-Carbon Energy Transition” argues that increased deployment of renewable energy and energy efficiency in G20 countries can achieve the emissions reductions needed to keep global temperature rise to no more than 2°C.
“The Paris Agreement reflected an unprecedented international determination to act on climate. The focus must be on the decarbonision of the global energy system as it accounts for almost two-thirds of greenhouse gas emissions,” said Adnan Z. Amin, Director-General of IRENA.
At present, renewables account for 24 per cent of global power production and 16 per cent of primary energy supply.
To achieve this scale of decarbonisation, the report affirms that renewable energy sources should represent 80 per cent of global power generation and 65 per cent of total primary energy supply.
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