The world is falling short of the COP28 goal to triple renewable energy capacity by 2030, with current plans projected to achieve only half of the necessary growth. Despite a record addition of 473 gigawatts in 2023, annual investments remain at just over a third of the required $1.5 trillion, highlighting significant regional disparities and the urgent need for improved financing and infrastructure. IRENA emphasizes that the upcoming NDCs must significantly enhance renewable targets to realign global efforts towards the climate goals.
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