G7 Urged to Triple Renewable Energy Capacity by 2030

Global Renewables Alliance Says Stronger Leadership Needed to Meet Ambitious Climate Goals

The Global Renewables Alliance (GRA) is urging the G7 to step up its commitment to renewable energy, despite welcoming some positive developments in the recent G7 communiqué.

“We applaud the G7’s continued support for ambitious renewable energy targets,” said Bruce Douglas, CEO of GRA. “However, to truly lead by example, they need to commit to tripling their own domestic renewable energy capacity by 2030.”

The G7 leaders recommitted to a global target of tripling renewable energy by 2030, agreed upon at COP28. However, according to the GRA, the group is currently only aiming to double their domestic capacity, falling short of the global target and leadership expectations.

The GRA emphasizes the importance of strong domestic targets for multiple reasons. Firstly, it boosts business confidence and encourages international ambition. Secondly, it paves the way for a fully decarbonized power sector by 2035, a goal also reaffirmed by the G7.

“To close this leadership gap,” the statement continues, “we call on the G7 to include a sector-specific renewable energy target in their updated NDCs (Nationally Determined Contributions). This will provide clarity for businesses and ensure a robust pipeline of renewable energy projects.”

The GRA also commends the G7’s new global goal for energy storage, a sixfold increase by 2030. This, they say, underscores the critical role storage plays in enabling the energy transition. They encourage further development of long-term energy storage solutions beyond chemical batteries.

Finally, the GRA urges the G7 to focus on unlocking renewable energy potential in developing economies, particularly through its “Energy for Growth in Africa” initiative. This requires prioritizing renewable development and providing swift access to high-quality financing.