The International Renewable Energy Agency (IRENA) has just released its first Global Renewables Outlook, which shows that decarbonisation of the energy system supports short-term recovery while creating resilient and inclusive economies and societies.

Advancing the renewable-based energy transformation is an opportunity to meet international climate goals while boosting economic growth, creating millions of jobs and improving human welfare by 2050. The first Global Renewables Outlook released by IRENA finds that transforming the energy system could boost cumulative global GDP gains above business-as-usual by USD 98 trillion between now and 2050. It would nearly quadruple renewable energy jobs to 42 million, expand employment in energy efficiency to 21 million, and add 15 million in system flexibility. The Global Renewables Outlook shows the path to create a sustainable future energy system. This flagship report highlights climate-safe investment options until 2050, the policy framework needed for the transition and the challenges faced by different regions. This comprehensive analysis from the International Renewable Energy Agency (IRENA) outlines the investments and technologies needed to decarbonise the energy system in line with the Paris Agreement. It also explores deeper decarbonisation options for the hardest sectors, aiming to eventually cut carbon dioxide (CO2) emissions to zero. Raising regional and country-level ambitions will be crucial to meet interlinked energy and climate objectives. The report presents findings on the specific transition prospects for 10 regions around the world. Comprehensive policies could tackle energy and climate goals alongside socio-economic challenges, fostering the transformative decarbonisation of societies.

Read the Outlook here and its comprehensive summary.

Additional information could be found at the International Renewable Energy Agency (IRENA) webpage.