16 / 28
16 | Prysmian Group
Insight
Staging the future
Setting renewable
energy targets has
become a global
standard in the
energy landscape in
recent years. It’s a
fact demonstrated
in a report by
the International
Renewable Energy
Agency, showing
that as many as 164
countries around
the world have now
adopted at least one
type of target, up from
just 43 countries in
2005.
Ever-more
countries
worldwide
commit to
renewables
Renewable energy targets have emerged
as a popular mechanism to put national
and regional economies on the path
towards a more sustainable energy future.
They provide an important signal to the
industry and canhelp to align stakeholders
by creating a clearer, common vision for
the development of the energy sector,
the report points out. Developing and
emerging economies are leading the
new wave of the adoption of targets,
accounting for 131 out of the 164 countries
with energy targets. Most of them focus
on electricity, with 150 countries having
set targets, but also commitments in other
sectors are on the rise, with renewable
powered transport targets more than
doubled from 27 countries in 2005 to 59
today.
Renewable targets are established to
meet multiple objectives, such as energy
security, environmental sustainability
and socio-economic benefits. The rapid
growth of target setting is seen by
experts as just one more signal of the
world’s ongoing shift towards renewable
energy while moving away from fossil
fuels. While underscoring the importance
of renewable energy targets, the report
recognises that they are still not enough
in and of themselves. In order to be seen as
credible by investors and the wider public,
and to provide a reliable trajectory for the
future evolution of the energy mix, they
need to be accompanied by a clear and
effective strategy and backed by specific
policies and measures.
More efforts needed
in terms of specific actions