The two organisations recognised that rapid decarbonisation will require a variety of policy shifts and investments, including intensifying renewable energy commitments, resolving market and regulatory barriers, improving access to finance and expanding the pipeline of bankable projects.
November 19, 2020. By Manu Tayal
With an aim to join efforts for increasing adoption and deployment of wind and renewable energy globally, the International Renewable Energy Agency (IRENA) and the Global Wind Energy Council (GWEC) have signed a cooperation agreement.
The agreement was signed between IRENA Director-General Francesco La Camera and GWEC CEO Ben Backwell on the occasion of the Race to Zero Dialogues, a programme to accelerate progress by governments, industry and other key stakeholders to meet the Paris Agreement, convened by the High-Level Champions for Global Climate Action.
The two organisations recognised that rapid decarbonisation will require a variety of policy shifts and investments, including intensifying renewable energy commitments, resolving market and regulatory barriers, improving access to finance and expanding the pipeline of bankable projects. Around a third of all new renewable power capacity added in 2019 was from wind power and IRENA data suggests wind – together with solar – will dominate future capacity growth.
“Wind energy is a cornerstone of the global energy transformation and with evolving technologies and a strengthening economic case, it will continue to support the world’s low-carbon growth agenda through to mid-century,” said Francesco La Camera, Director-General at IRENA.
He further said “by blending the knowledge, capabilities and convening power of our two organisations, we can jointly work to address policy and investment barriers and create an enabling environment for wind energy.”
On the other hand, Ben Backwell, CEO at GWEC said “on behalf of the global wind industry, we look forward to strengthening our partnership and work with IRENA through the Climate Investment Platform and other important initiatives. It is more important than ever that intergovernmental institutions work collaboratively with industry in pursuit of shared sustainable development goals.”
“There is no question that we must urgently take action to reduce carbon emissions and act collectively to slow the impacts of climate change; accelerating the development of renewable energy is one of the most effective ways to achieve these objectives. Wind energy, as a scalable, clean and affordable technology, will be critical to supporting countries, companies and other parties on the road to net-zero and a green recovery,” he concluded.
Meanwhile, both the parties agree to work collaboratively to minimise regulatory, legal and administrative barriers to investment in wind and renewable energy, and enhance international dialogues and actions on increasing the share of renewable energy in the global energy mix.
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