GEOPOLITICS OF THE ENERGY TRANSITION: ENERGY SECURITY (IRENA 2024)

The essential role of renewables in creating more resilient, inclusive and cleaner energy systems is undisputed. COP28 underscored this with a pledge to triple renewable capacity and double energy efficiency by 2030, while transitioning away from fossil fuels. This pathway, adopted from IRENA’s World Energy Transitions Outlook, represents our only option to course-correct within the next six years to stay on the 1.5°C pathway. The acceleration of a renewables-based transition relies on our collective ability to prioritise actions around key enablers such as the modernisation and expansion of infrastructure, policy and market adaptation, and institutional and human capacities. All these areas are strongly linked to energy security, which is still predominantly viewed through the lens of a fossil fuel-dominated era and its geopolitical landscape. Given the rise of renewables, IRENA’s members have requested an exploration of the implications of this shift for energy security. This report builds on IRENA's geopolitics of the energy transition series, and leverages extensive IRENA knowledge of a wide range of technical, socio-economic and climate issues.