COP29’s Importance in Baku, Azerbaijan
On Monday, November 11, 2024, the 29th United Nations Climate Change Conference (COP29) will get underway in Baku, Azerbaijan. The COP29 Presidency and the International Renewable Energy Agency (IRENA) will work closely together at this crucial gathering to advance the 1.5°C climate objective and propel the global energy transformation.
Global Renewables Hub: A Platform for Collaboration
The Global Renewables Hub will be co-hosted by IRENA and the Global Renewables Alliance. With an emphasis on furthering the renewable energy targets set forth in the UAE Consensus at COP28, this special area in the Blue Zone will host gatherings, conferences, and networking opportunities.
Advancing the UAE Consensus: By 2030, Triple Renewable Energy
The Global Renewables Hub will support the bold objective of tripling the world’s renewable energy capacity by 2030, building on the advancements made at COP28. To ensure ambitious and actionable climate policies, countries will be urged to incorporate these goals into their Nationally Determined Contributions (NDCs 3.0) for 2025.
Important Occasions and Topics at COP29
Africa’s Green Impulse: Industrialization through Renewables
The Accelerated Partnership for Renewables in Africa (APRA), which focuses on funding green industrialization through climate finance and private investment, will be discussed by African leaders and international partners.
Development of Offshore Wind: GOWA Energy Day
To investigate market facilitators, unlock investments, and improve international cooperation for offshore wind development, the Global Offshore Wind Alliance (GOWA) will hold a ministerial event.
Consensus in the UAE and NDC Alignment
Ahead of COP30, IRENA will take the lead in talks on how to include the tripling of renewables and energy efficiency targets into nations’ NDC updates.
IRENA’s World Energy Transitions Outlook 2024 is launched.
IRENA will present its World Energy Transitions Outlook 2024 on the first day of COP29. Policymakers will use the 1.5°C Scenario as a guide when creating aggressive NDCs, which will include targets to double energy efficiency and quadruple renewables by 2030.
Increasing Investment to Create a Sustainable Future
According to a recent analysis by IRENA, by 2030, annual investments in renewable energy must rise from USD 570 billion to USD 1.5 trillion. Achieving the objectives of the global energy transition requires addressing regional inequities, especially in the Global South.
Highlights of the Global Renewables Hub Agenda
A number of topical events, such as ministerial dialogues, funding forums, and talks on green hydrogen, renewable integration, and workforce mobilization for the energy transition, will take place at the Global Renewables Hub between November 12 and November 20.
Important Activities on the Schedule:
- Ministerial discussion on tripling renewables on November 12.
- November 13: Workshops on supply chains for renewable hydrogen and youth education.
- COP29 Energy Transition Investment Forum for Central Asia, November 15.
- November 18: Promoting energy cooperation between the EU and MENA.
- November 20: Policy suggestions for reaching 2050 with 100% renewable energy.
Increasing the #3xRenewables Initiative
#3xRenewables, IRENA’s marketing campaign, emphasizes how renewable energy can revolutionize people’s lives and communities around the globe. The campaign calls for global engagement and highlights social justice, sustainable development, and decarbonization.
Attend COP29 to Join the Movement
The Blue Zone’s Global Renewables Hub extends an invitation to stakeholders, industry professionals, and politicians to work together to advance the transition to renewable energy.
