The power sector is the world’s number one contributor to climate change.
That means that meaningful action on climate change can only happen with the electricity sector driving change. The challenge is daunting: The International Energy Agency says that half of all the emissions cuts needed by 2030 must come from the power sector — the equivalent of the annual emissions from China and the US combined.
So how are we going to face this daunting yet necessary task?
ReNew2030 is a new initiative designed to steer a path to a climate secure future, where the electricity sector takes a leading role.
We need the power sector to move first so it can provide the clean electricity that will be used by other sectors, such as transport, in the future. And we need it to act fast. We have a window of just seven years for the energy sector to take action and keep us on track for our climate secure 1.5°C targets. As well as acting fast, we need to make sure that this transition is fair. Everyone should have access to the benefits of a just transition – jobs, clean air and water, and affordable energy bills.
We launched at TED’s Countdown event in July 2023. See the launch speeches here:
There are significant barriers to overcome: across the globe, we are confronted by half-hearted, short-term commitments by governments; insufficient investment in renewable and sustainable energy infrastructure by public and private funds; slow public uptake – partly due to misinformation about renewable energy; and insufficient focus on workforce retraining and redeployment.
So how do we overcome these challenges?
ReNew2030 uses a range of levers to challenge the status quo and provoke action.
Powered by philanthropy, we take funding to our partners in the communities that need it most.
For example, we work closely with policy makers to drive the transition to a clean economy. We work through diplomatic channels to build powerful coalitions among political leaders and drive international cooperation. Our finance stream aims to drive investment away from fossil fuels and into renewables to turn these key financial institutions into part of the solution to the challenges we face. We also work with the private sector to help businesses achieve their clean energy goals.
Crucially, we work with local experts, scientists and community groups to equip them with the tools they need to shape narratives and make the argument for a clean transition.
This kind of collaboration is the only way we can make the systemic change we need. It’s too late for incremental change. We need exponential change and for that, we need meaningful collaboration between national and international governments, business and industry, communities and civil society.
By working together in this way, we can create new jobs in communities across the world and transform our economy into something that is sustainable, fair and equitable.
Ember are the first data partner of the ReNew2030 project, we hope to welcome more partners in due course. Ember are an independent energy think tank that uses data-driven insights to shift the world to clean electricity. Ember gather, curate and analyse data on the global power sector and its impact on the climate. Ember use our data-driven insights to shift the conversation towards high impact policies and empower other advocates to do the same. We’re focused on making the biggest impact on climate change. That’s why shifting the world to clean electricity is our first priority. The electricity sector is the single biggest source of emissions. Clean electrification will unlock further emissions savings from heating, transport and industry.