G20 energy ministers adopted a renewable energy toolkit developed by the International Renewable Energy Agency (IRENA) during a first-ever meeting in Istanbul last week.
IRENA reported that the G20 account for 75% of the renewable energy deployment potential in the world’s energy sector and 70% of the power sector investment potential through 2030.
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“With this tremendous market opportunity before them, concerted and coordinated action undertaken by G20 countries to advance renewable energy can really move the needle on global deployment as we transition to a clean energy future,” IRENA Director-General Adnan Z. Amin said in a release. “This serious and thorough engagement with renewable energy by the G20 sends a strong signal to the international community, particularly as governments march towards the pivotal climate talks in Paris taking place later this year.”
IRENA developed the toolkit in partnership with the International Energy Agency, the Organisation for Economic Cooperation and Development, the Organization of Petroleum Exporting Countries, and the World Bank, and will “coordinate future toolkit work under the direction of the G20 Energy Sustainability Working Group,” the release states. The toolkit focuses in five areas: driving down technology costs, exchanging good practices on policy and power system integration, mobilizing finance through risk mitigation, technology potentials and roadmaps, and accelerated deployment of bioenergy.