Renewables 2021 Global Status Report

The Renewables 2021 Global Status Report (GSR.) provides an overview of the renewable energy markets, investments and policies around the world. This year’s edition includes a feature chapter on the Business Demand for Renewables. The report highlights the need for governments to outline targets for renewables given that, for the first time, the number of countries with renewable energy support policies did not increase from the previous year and investments in fossil fuels outlined in COVID-19 recovery packages worldwide were six times greater than the level of investments allocated to renewable energy. Thus, the GSR calls for RES Targets backed up by policies that support the uptake of renewables by incentivising and/or mandating their use. Governments also need to actively phase out the use of fossil fuels and fossil fuel subsidies.The GSR also highlights the fact that renewables in the heating and cooling sector have only made slow progress. Heating and cooling is a very promising market for renewables but making progress requires removing a number of obstacles related to the financing of projects, which are typically small, and accelerating the phase out of fossil fuels. The report can be accessed here: www.ren21.net/reports/global-status-report/

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