Principle Power is one of 90+ signatories of the Global Wind Energy Manifesto for COP26
Global Wind Industry manifesto calls on governments to “get serious” ahead of COP26 and support public and private initiatives to secure the energy transition.
The wind energy sector has released a manifesto at the BNEF London summit calling on governments to “get serious” about the energy transition and work with the private sector to rapidly scale up wind and renewable energy installations.
Wind energy is one of the fastest-growing energy sources in the world, with a record 93GW of installations in 2020. However, current growth rates are falling behind a net zero trajectory and will only put us on track for 43% of the wind capacity required by 2050, according to leading international energy institutions IRENA and the IEA. To get on track, annual wind energy installations worldwide must quadruple within the next decade.
Principle Power is one of the 90+ world’s leading wind energy companies, including manufacturers, supply chain actors, investors, and industry bodies from around the world, that have united with the Global Wind Energy Council (GWEC) to support this Manifesto.
The Manifesto calls on governments to take eight specific actions:
- Increase wind power ambition and reflect this in updated Nationally Determined Contributions (NDCs), comprehensive national climate strategies, and long-term energy plans.
- Commit to rapid phase-out of coal-based generation now.
- Design and implement energy markets for the future.
- Implement streamlined and sensible permitting schemes for renewable energy projects to accelerate deployment and minimize project attrition.
- Initiate plans to rapidly build out clean energy grids and charging stations for electric vehicles.
- Develop cohesive and inclusive policies which dedicate public resources to the people-centered shift to a net zero economy.
- Align national and regional finance flows with benchmarks for a net zero, 1.5°C-compliant pathway.
- Advance voluntary cooperation on carbon pricing under articles 6.2 and 6.4 of the Paris agreement.
The renewables industry is already delivering decarbonization of the global power sector. Wind power helps the world avoid 1.1 billion tones of CO2 emissions annually and already provides more than 1.2 million jobs around the world while transforming economies and communities for good.
But the industry requires supportive policy frameworks to grow more rapidly. The Manifesto urges governments to work with industry to enact a shift in energy and economic policymaking to a “climate emergency” approach.