The International Renewable Energy Agency (Irena) released a report stating that the renewable energy adoption must get at least six times quicker to limit the global temperature rise to two degrees. Moreover, investing in the energy system by 30% in favour of renewables and energy efficient technology could create 11 million jobs by 2050.

In order to avoid the most severe impacts of climate change, renewables such as wind and solar power must account for at least two thirds of the total energy used by 2050.

Renewable energy and energy efficiency together form the cornerstone of the world’s solution to energy-related CO2 emissions, and can provide over 90% of the energy-related CO2 emission reductions required to keep the global temperature rise to two degrees Celsius, said Adnan Z Amin, general director of Irena.

Transformation will not only support climate objectives, it will support positive social and economic outcomes all over the world, lifting millions out of energy poverty, increasing energy independence and stimulating sustainable job growth, he continued.

Adnan had previously spoke to Professional Engineering and said that floating wind turbines could be a ‘game changer’ for the renewable technology sector, potentially reducing competitive prices by 50 to 60%.

Currently, the government’s plans are not even close to the necessary emission reductions. He said that if things don’t change and keep going the same way, then the world would exhaust its energy-related carbon budget for 2oC in under 20 years, despite continued strong growth in renewables capacity. In 2017, global renewable generation capacity increased by 167 GW to reach 2,179 GW – a yearly increase of 8.3%.