Report: Renewable energy growth falls short of climate goal
Deployment of new wind and solar power plants needs to be drastically ramped up by the end of the decade to meet the world's climate goals, the International Renewable Energy Agency said Tuesday.
In an advance preview of its annual report on the global shift from fossil fuels to clean energy, the agency said renewables accounted for 83% of new power generation last year. Worldwide, the share of installed power generation coming from renewables reached 40% in 2022, it said.
But in order to halve greenhouse gas emissions by 2030 and put the world on track to cap global warming at 1.5 degrees Celsius (2.7 degrees Fahrenheit), existing targets for renewable power deployment would need to be more than doubled, the Abu Dhabi-based agency said.
Governments agreed in the 2015 Paris climate accord to limit the global temperature rise to 2 C (3.6 F) -- ideally no more than 1.5 C -- above pre-industrial averages. The lower target would prevent significant harm from climate change but is increasingly difficult to achieve given that temperatures have already increased by 1.1 C (2 F) since the 19th century and emissions show no sign of dropping fast.
Experts say the amount of carbon dioxide and other polluting emissions released into the atmosphere by 2050 shouldn't exceed the amount that can be captured through natural or artificial means.
"A profound and systemic transformation of the global energy system must occur in under 30 years," IRENA Director General Francesco La Camera said at an energy transition conference in Berlin.
The agency has estimated that annual public and private investments in renewable energy need to exceed $5 trillion, including for power generation, electrification, transmission grids and efficiency measures.
It called for current fossil fuel investments to be diverted to renewable sources and greater financial help for developing countries that are struggling to fund alternatives to coal, oil and gas power plants.
The U.S. Energy Information Administration said Monday that it projects the share of electricity generated from wind power in the United States will rise from 11% to 12% from 2022 to 2023, and that solar will grow from 4% to 5% during the period.
RISKIN REPORTS
CTVNews.ca Top Stories
BREAKING | Majority of MPs vote for foreign interference special rapporteur Johnston to 'step aside'
Prime Minister Justin Trudeau's efforts to assure Canadians that his government is adequately addressing the threat of foreign interference took a hit on Wednesday, when the majority of MPs in the House of Commons voted for special rapporteur David Johnston to 'step aside.'

UPDATED | 'I heard a cracking noise': 16 children, 1 adult injured in platform collapse at Winnipeg's Fort Gibraltar
Seventeen people – most of whom are young students – were hospitalized after a falling from a height during a field trip at Winnipeg's Fort Gibraltar. However, many of the children are now being discharged and sent home, according to an update from the hospital.
Federal Court of Appeal: Canada not constitutionally obligated to bring home suspected ISIS fighters
The Government of Canada has won its appeal and will not be legally forced to repatriate four Canadian men from prisons in Northeast Syria.
What you may not have known about bladder cancer
Although bladder cancer is the fifth most common cancer in Canada, experts say there’s a significant lack of awareness surrounding whom it affects the most — statistically, men — and that the most common risk factor is smoking.
Canada is first to require health warnings printed on individual cigarettes
Canada will soon require health warnings to be printed directly on individual cigarettes, making it the first country to implement this kind of measure aimed at reducing tobacco usage.
Study identifies the rise and fall of lifestyle habits during pandemic
More than three years after COVID was declared a global pandemic, a new study is looking at how the international health crisis has changed the lifestyle habits of Canadians.
Ottawa sends minister to Nigeria inauguration after accusing party of terror link
A year after arguing Nigeria's ruling party is responsible for terrorist acts, the Trudeau government has sent a cabinet minister to celebrate the swearing-in of its new president.
What slowdown? Economy outperforms, raising odds of a rate hike
The Canadian economy grew faster than expected in the first three months of the year and likely expanded again in April, fuelling speculation that the Bank of Canada will raise interest rates again.
Canada saw decline in fresh fruit, vegetable availability in 2022: StatCan
Statistics Canada says fewer fresh fruits and vegetables were available to Canadians in 2022, due to factors such as ongoing supply chain issues, labour shortages and price increases.