Countries around the world are not on track to meet their renewable energy goals despite record growth last year, according to an interim report from the International Renewable Energy Agency (IRENA) released on Tuesday.

IRENA is an intergovernmental agency that includes 169 countries and the European Union.

Record renewables growth not enough

The newly installed capacity from renewable energies amounted to around 582 gigawatts in 2024, or around 15.1% more than the previous year.

While this was the highest amount ever recorded, in its report IRENA stressed that this was not enough for countries to reach global renewable energy goals, which target a yearly increase of 16.6%.

The UN Climate Conference in Dubai in 2023, also known as COP28, set the goal of reaching 11.2 terawatts within seven years.

According to the report, an additional 1.122 terawatts would be needed per year to reach the goal by 2030. A terawatt is equivalent to 1,000 gigawatts.

Window to limit warming to 1.5 degrees 'closing' — UN chief

United Nations Secretary-General Antonio Guterres warned that the world was not moving fast enough to keep global warming below 1.5 degrees Celsius.

"Renewables are deployed faster and cheaper than fossil fuels — driving growth, jobs, and affordable power. But the window to keep the 1.5°C limit within reach is rapidly closing," the UN chief was cited by the report as saying.

"We must step up, scale up and speed up the just energy transition — for everyone, everywhere," he stressed.

The target of limiting warming to 1.5 degrees above pre-industrial levels was set in the Paris Agreement signed at COP21 in 2015.

The long-term global temperature increase was estimated at 1.3 degrees last year.

The next UN Climate Conference, or COP30, is due to be held on November 10 in the city of Belem in the Brazilian Amazon.

Edited by: Zac Crellin