LAUNCH: RENEWABLES 2024 GLOBAL STATUS REPORT - GLOBAL OVERVIEW - REN21 Secretariat

W E C O N S U M E M O R E E N E R G Y A N D B U R N M O R E F O S S I L F U E L S T H A N E V E R Renewable energy deployment needs to go hand in hand with reducing energy demand and phasing out fossil fuel Source: IEA, REN21 11.04.2024 9 Launch: Renewables 2024 Global Status Report – Global Overview RENEWABLE SHARES IN ENERGY CONSUMPTION T O P R E N E W A B L E E N E R G Y S H A R E S : E U R O P. [...] Source: REN21 11.04.2024 12 FINANCE R ECOR D IN VESTMEN T BUT MASS IVE IN CR EASE N EEDED Launch: Renewables 2024 Global Status Report – Global Overview MASSIVE INCREASE IN RENEWABLE ENERGY INVESTMENT NEEDED A M B I T I O U S A C T I O N N E E D E D T O C L O S E I N V E S T M E N T G A P Around USD 1,300 billion needed to reach 2030 climate goals. [...] Source: REN21 based on IRENA and BloombergNEF 11.04.2024 14 Launch: Renewables 2024 Global Status Report – Global Overview GLOBAL DISPARITIES IN RENEWABLE INVESTMENT D E V E L O P I N G C O U N T R I E S F A C E H I G H E R C O S T S O F C A P I T A L T H A N D E V E L O P E D E C O N O M I E S Only 17.7% of global investment in Africa, Asia (excl. [...] Source: IRENA 11.04.2024 15 Launch: Renewables 2024 Global Status Report – Global Overview GROWTH OF DEVELOPMENT FINANCE FOR RENEWABLES P U B L I C F I N A N C E N E E D E D T O M O B I L I S E P R I V A T E F I N A N C E Development finance for renewable energy in 2022: USD 7.85 billion Representing only 1.4% of global renewable energy investment. [...] Source: OECD-DAC Creditor Reporting System (CRS) Database 11.04.2024 16 Launch: Renewables 2024 Global Status Report – Global Overview RECORD OF 1.3 TRILLION CLIMATE MITIGATION FINANCE T R A N S P O R T A N D B U I L D I N G S C O M P L E M E N T R E N E W A B L E E N E R G Y I N V E S T M E N T … but climate adaptation finance for renewable energy needed to help closing funding gap for renewables.