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GSR2024_GlobalOverview_Full_Report_with_endnotes_web.pdf

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/106402 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/106402 http://eprints.org/relation/isIndexCodesVersionOf https://pure.iiasa.ac.at/id/document/106402 archive 2 disk0/00/01/97/84 2024-06-05 06:49:46 2024-06-05 06:49:46 2024-06-05 06:49:46 other show 2 REN21 http://www.loc.gov/loc.terms/relators/CTB Purohit P. 1873 pub ECE ECEPM We stand at a precipice, with the urgent need for a rapid transition to renewable energy underscored by escalating global crises and the encouraging targets set at COP28. The role of renewable energy as a key solution to climate, energy, and economic challenges is more apparent than ever. This yearʼs Renewables Global Status Report illuminates a complex landscape of progress tempered by persistent challenges. Despite record investments in renewables, reaching USD 622.5 billion in 2023, we are still far from what is needed to meet our climate and sustainable development goals. Estimates suggest that global investments need to reach at least USD 1.3 trillion annually between now and 2030 if we are to keep the 1.5°C target in reach. The disparity in investment opportunities between high- and low-income countries, compounded by unequal access to capital, remains a major obstacle to an equitable energy transition. Interest rates in emerging economies remain significantly higher than in advanced economies, further hindering progress towards sustainability. 2024 REN21 Secretariat ISBN 978-3-948393-13-7 https://www.ren21.net/reports/global-status-report/ 239 public Paris, France info:eu-repo/semantics/other