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According to the International Energy Agency, the renewable energy sector grew by more than 10% in 2022. This has led to a small overall reduction in global CO₂ production from the electricity sector. Emissions need to be reduced by 45% by 2030 to limit global temperature rise to no more than 1.5°C.

The current energy crisis, and the crucial role of powerful countries such as Russia and China in shaping the energy market, show how important independence is in the face of geopolitical pressures. Europe must now redouble its efforts to become self-sufficient in energy, with the focus on renewables.

The Breakthrough Agenda Report 2022 is a report by the International Energy Agency, the International Renewable Energy Agency and the UN Climate Change High-Level Champions, focused on supporting stronger international collaboration to drive faster reductions in global greenhouse gas emissions.

High energy prices, risks of energy supply shortages, and shortfalls in meeting climate goals now threaten energy affordability, security, access, and sustainability. Energy market volatility presents an opportunity to supercharge the energy transition by ramping up clean energy investments.