The urgency of limiting global surface temperature rise to 1.5°C requires immediate action on reducing carbon emissions. Despite this, the energy transition is off-track, and greenhouse gas emissions are at record levels. IRENA's World Energy Transitions Outlook 2023 emphasises the need for a significant increase in renewable energy deployment, energy storage, and renewable fuels.

The report calls for accelerated progress in energy efficiency and electrification to align with climate goals (e.g. improved building insulation and heat pump installations for buildings). The upcoming 28th Conference of the Parties (COP28) presents an opportunity for global stakeholders to agree on targets, including tripling renewable power generation and doubling energy efficiency improvement by 2030. The report, a collaboration between COP28 Presidency, IRENA, and GRA, offers concrete recommendations to meet these goals.

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