"Learn about the measures that are crucial for a global transition into a renewable energy economy."

Clean energy is a cornerstone of the better future we are building for humanity. Neither the Paris Agreement nor the 2030 Agenda for Sustainable Development will be able to fulfill their full potential unless renewable energy replaces fossil fuel generation. Renewable energy avoids the greenhouse gas emissions that warm our planet, improving air quality and therefore human health. It also brings new opportunities to energy-poor communities.

Looking across 2010-2019, there is certainly a trend of heavy investment, with this report estimating that a total of $2.6 trillion has been invested in renewable capacity development. While this demonstrates huge and lasting progress, the pace must increase. Renewables are now firmly embedded in the power generation sector, but only represent 26.3% of total electricity produced – 12.9% if we exclude large hydro. Fossil fuel subsidies, which run into the hundreds of billions of dollars each year, are slowing progress. Investors are still financing coal power plants with tens of billions of dollars each year. Equally, 1.1 billion people lack access to electricity. Providing that access to these people, through technologies such as off-grid solar, will give the Sustainable Development Goals a massive boost up.

This year and next are likewise crucial for climate action. This report, authored by the Frankfurt School- UNEP Collaborating Centre for Climate and Sustainable Energy Finance, provides examples of how, with smart policies that truly value the economic and societal benefits of renewable power, we can acceleratethe transition to a renewable energy economy and give people the clean energy future they deserve. To read more about the Frankfurt School and UNEP, please click here.