During the 14th session of the Council of the International Renewable Energy Agency, members discussed options to scale up renewable energy deployment and investment to address the gap between national energy plans, actual deployment, and climate targets.
IRENA Directors presented project facilitation platforms created by IRENA to boost renewable energy project development and investment.
4 December 2017: Discussions at the 14th Meeting of the Council of the International Renewable Energy Agency (IRENA) centered on scaling up renewable energy deployment and investment.
Council members also considered means to resolve the gap, identified in a recent IRENA report, between national renewable energy plans, actual deployment, and targets set within the framework of the Paris Agreement on climate change. Discussion focused on the potential for members to increase the share of renewable energy included in their Nationally Determined Contributions (NDCs).
Members also acknowledged that growth in investment is too slow to meet the objectives of the Paris Agreement. To address this problem, IRENA Directors presented a number of project facilitation platforms, created by IRENA to assist project developers secure financing more efficiently, and support investors and lenders to build stronger project portfolios. The Council also explored options to further the development beyond power generation by integrating renewable technologies into the transportation, heating and cooling sectors.
“Renewable energy will change the way states relate to one another.” – IRENA Director-General Adnan Z. Amin
At the occasion of the Council meeting, IRENA Director-General Adnan Z. Amin published an article titled, ‘The Age of Renewable Energy Diplomacy,’ as part of the Emirates Diplomatic Academy’s ‘EDA Reflection’ Series. Amin predicts that renewable energy will change the way states relate to one another, as renewable energy reduces reliance on energy fuel imports while increasing the need for cross-border trade in electricity. The article also reviews measures that fossil fuel producing states, like the United Arab Emirates, have taken to prepare their economies for the global energy transformation away from fossil fuel consumption.
The 14th session of the IRENA Council convened from 28-29 November 2017, in Abu Dhabi, United Arab Emirates. The Council meets twice per year to oversee the implementation of the IRENA work program, facilitate cooperation among members, and complete substantive preparations for the Agency’s annual Assembly. China was elected chair of this Council Meeting, which was attended by three new IRENA members, Lebanon, El Salvador, and Uzbekistan. [IRENA Press Release] [IRENA Press Release – Council Meeting Results] [Emirates Diplomatic Academy Reflection]