Race to Zero members eye 750GW of renewables by 2030
Race to Zero energy members have committed to reach 750GW of installed renewable energy capacity by 2030. This is enough to provide power to 896 million people today.
As the world descends upon Glasgow, all eyes are on our world leaders and their commitments to a cleaner and greener future. COP26 unites the world in our collective challenge of tackling climate change and the urgent need for action.
Within the power sector, we are looking at our heads of government to consign coal power to history and drive the shift to renewables. However, it’s not only countries making waves in history on the path from coal to clean power.
With the power sector accounting for a quarter of all global greenhouse gas emissions, transition to renewable power is crucial if we are to keep within 1.5 degrees.
Race to Zero renewables goals 2030
The Race to Zero campaign works with non state actors to commit to halving emissions this decade and achieving net zero emissions as soon as possible and by 2050 at the very latest. Energy companies in the race are driving the acceleration to renewables and have made their own commitments to transition to clean power and rapidly scale up renewable energy.
On energy day of COP26, we can announce that Race to Zero energy members have committed, in aggregate, to reach 750GW of installed renewable energy capacity by 2030. This is enough to provide power to 896 million people today. Members with the largest renewable deployment targets include Enel, Iberdrola and Ørsted.
High Level Champion for Climate Action Nigel Topping recognises the commitment of our Race to Zero members:
“It is fantastic to see the ambition in renewables deployment. This will only grow as more energy companies join the Race to Zero emissions, and decarbonisation ambitions continue to increase, reflecting the exponential progress we have seen to date in the sector.”
Energy companies are key drivers of our clean power transition, however they can’t achieve a global decarbonized energy system alone. We need everybody in.
Breakthrough ambition achieved in energy demand
In January 2021, the 2030 Breakthroughs were launched, outlining the key tipping points needed in every sector by 2030. At New York Climate Week 2021, it was announced that the power sector had reached breakthrough ambition, meaning that over 20% of major utilities by revenue have joined the Race to Zero – the world’s largest collection of credible net zero commitments.
Today at COP26, we announce another breakthrough ambition achieved in the power sector – on the demand side. Over 20% of major companies by revenue have now committed to sourcing 100% renewable electricity through RE100. The transition to clean power is a collective effort and by joining RE100, corporates are pledging they are in, and are spurring additional growth in renewables supply.
On this announcement, Sam Kimmins, Head of RE100 at the Climate Group said: “The growth of RE100 demonstrates that corporate demand for renewables is unstoppable. Governments and businesses need to be on board or risk being left behind.”
The commitment of non-state actors making 2030 renewable targets and taking action to source 100% renewable electricity is a step forward in the Race. Coordinated action from different players will in turn enable governments to increase ambition, enabling the positive ambition loop between state and non state actors.
The actions announced today demonstrate momentum in the shift to clean power, but more needs to be done. We now aim for achievement by 2030 of the Race to Zero breakthrough outcome of at least 40% share of global electricity generation by solar and wind power, and at least 60% from all renewables.
To do so, we need governments, civil society, businesses, and all non-state actors running together; to cross the line to a decarbonised world and keep within 1.5 degrees. Every decision and action counts.