The Irena Coalition for Action was formed a few years ago to create a means for the private sector, NGOs and civil society in general to cooperate and assist with the implementation of the work of Irena.
While it has gone through a number of iterations, I was pleased to be able to present the outcome of the work of the Business and Investor’s sub-group of the Coalition to Irena’s 8th General Assembly in Abu Dhabi on 13th January. Our ‘white paper’ is available on the Irena website here.
Recognising that investment levels in renewable energy are still far from what is needed to decarbonise the energy sector, the Business and Investor’s Group (co-chaired by the Global Wind Energy Council (GWEC) and the Global Solar Council) within the Coalition has focused its efforts during the last year on the topic of scaling up of renewable energy investment in emerging markets.
While it is true that the majority of investment in wind since 2010 has been outside the OECD – and the same has been true for solar for the last couple of years – this investment has focused on the major markets. That is primarily China, of course, but also India, Brazil, South Africa and Mexico.
There are many opportunities outside these large markets which have not yet been seized, and that is where we need to focus our efforts.