Report Warns Global, Efforts to Meet Climate Goals , Need to Be Doubled.<br />On March 28, the International Renewable Energy Agency warned that the world needs to ramp up the deployment of renewable energy sources by the end of the decade.<br />'Time' reports that the agency said that new <br />wind and solar plants need to be deployed in <br />order to meet the world's climate goals.<br />According to the agency, <br />renewable energy accounted for 83% <br />of new power generation in 2022.<br />Meanwhile, the global share <br />of installed renewable power <br />generation reached 40% last year.<br />However, the Abu Dhabi-based agency said that renewable <br />power deployment would need to be doubled in order <br />to cap global warming at 2.7 degrees Fahrenheit.<br />In 2015, governments agreed to the Paris <br />climate accord which aimed at preventing <br />significant harm from climate change.<br />In 2015, governments agreed to the Paris <br />climate accord which aimed at preventing <br />significant harm from climate change.<br />A profound and systemic <br />transformation of the global <br />energy system must occur <br />in under 30 years, Francesco La Camera, IRENA Director General, via 'Time'.<br />According to the agency, annual investments in renewable energy would have to exceed $5 trillion to achieve the goals set forth in the Paris accord.<br />The agency called for investments <br />in fossil fuels to be diverted <br />to renewable energy sources.<br />They also called for financial assistance in <br />developing nations struggling to deploy <br />alternatives to oil, coal and gas power generation.
