INTERVIEW
“THE DEBATE ABOUT WHETHER THE ENERGY TRANSITION IS POSSIBLE IS BEHIND US”
IRENA Director-General Francesco La Camera on why renewables will succeed even without “the luxury of time” and how his institution helps developing countries escape the “triple penalty” of policy, capital and infrastructure By Axel Reiserer, OPEC Fund
OPEC Fund Quarterly : What plans and goals does IRENA have for COP30? The Brazilian Presidency has put “energy” on top of its “Action Agenda”, again calling for a “tripling of renewables and doubling of energy efficiency.” How is IRENA helping to deliver these goals? Francesco La Camera: Following COP28 in 2023, IRENA was tasked as the custodian agency for tracking progress towards the UAE Consensus goals of tripling renewable power capacity and doubling energy efficiency improvements by 2030. We are planning to launch our flagship tracking report at the Pre-COP, a series of meetings in the run-up to COP30, to provide a transparent picture of where the world stands on these targets. Preliminary findings suggest renewable power capacity will expand at a record pace again this year, bringing
the goals of the Paris Agreement closer than at any point since it was signed. The debate about whether the energy transition is possible is behind us. The tipping point has been passed, and we are now approaching the last mile. The challenge at COP30 is to ensure that this momentum translates into a human-centered transition that delivers equitable progress. Emerging markets and developing economies account for one-third of global GDP and comprise more than 150 countries – yet they receive less than 10 percent of energy transition investments. Unless this imbalance is corrected, progress will stall in the very regions where renewables could deliver the greatest benefits. In 2024, 91 percent of newly commissioned utility-scale renewable projects generated electricity at a lower cost than the cheapest fossil
Francesco La Camera
Francesco La Camera has led the International Renewable Energy Agency (IRENA) as Director- General since April 2019, bringing more than 30 years of experience in climate, sustainability and international cooperation to the agency. Under his leadership IRENA has forged a series a strategic partnerships in support of the energy transition. Previously, while holding key roles at the Italian Ministry of Environment, Land and Sea he spearheaded international cooperation on issues related to climate change and the environment.
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