World energy transitions outlook 2023: 1.5°C pathway, Volume 2

Progressive policies are critical to boost the socio-economic benefits of the energy transition and spread them broadly across the world, this new report released by the International Renewable Energy Agency (IRENA) ahead of the UN Climate Conference COP28 in Dubai finds. Volume 2 of IRENA’s World Energy Transitions Outlook 2023, looks at the socio-economic impacts of the energy transition and shows that the world could witness an average annual increase in GDP of 1.5% by 2050 under the 1.5°C pathway compliant with the Paris Agreement, when compared to the Planned Energy Scenario. The energy transition is also expected to create 40 million additional jobs in the energy sector by 2050, with 18 million more jobs globally in renewables alone.