ENERGY SUPPLY REN21 MEMBERS INTER-GOVERNMENTALORGANISATIONS SCIENCE AND ACADEMIA GOVERNMENTS INDUSTRY ASSOCIATIONS Long Duration Energy Storage Council(LDES)Portuguese Renewable EnergyAssociation (APREN)RE100/Climate Group (RE100)RES4Africa Foundation (RES4Africa)Solar Heat Europe (SHE)SolarPower Europe (SPE)Union Internationale des TransportsPublics (UITP)World Bioenergy Association (WBA)World Wind Energy Association (WWEA) European Heat Pump Association (EHPA)European Renewable EnergiesFederation (EREF)Global Off-Grid Lighting Association(GOGLA)Global Solar Council (GSC)Global Wind Energy Council (GWEC)Green Hydrogen Organisation (GH2)Indian Renewable Energy Federation (IREF)International Geothermal Association (IGA)International Hydropower Association (IHA)International Union of Railways/UnionInternationale des Chemins de Fer (UIC) Africa Minigrid Developers Association(AMDA)Alliance for Rural Electrification (ARE)American Council on RenewableEnergy (ACORE)Asia Pacific Urban Energy Association(APUEA)Associação Lusófona de EnergiasRenováveis (ALER)Chinese Renewable Energy IndustriesAssociation (CREIA)Clean Energy Council (CEC)Euroheat & Power (EHP) AEE – Institute for SustainableTechnologies (AEE-INTEC)Council on Energy, Environmentand Water (CEEW)Fundación Bariloche (FB)International Institute for AppliedSystems Analysis (IIASA)International Solar Energy Society(ISES)National Renewable EnergyLaboratory (NREL)National Research UniversityHigher School of EconomicsRussia (HSE)South African National EnergyDevelopment Institute (SANEDI)The Energy and ResourcesInstitute (TERI)University of Technology – Institutefor Sustainable Futures (UTS)World Resources Institute (WRI) AustraliaAustriaBrazilDenmarkDominican RepublicGeorgiaGermanyIndiaRepublic of KoreaMexicoMoroccoNorwayPanamaRío Negro Province, ArgentinaSouth AfricaSouth Australia State, AustraliaSpainUnited Arab EmiratesUnited StatesZimbabwe Asia Pacific Energy ResearchCentre (APERC)Asian Development Bank (ADB)ECOWAS Centre for RenewableEnergy and Energy Efficiency(ECREEE)Electric Power Council of theCommonwealth of IndependentStates (Executive Committee)(EPC)European Commission (EC)Global Environment Facility (GEF)International Energy Agency (IEA)International Renewable EnergyAgency (IRENA)Islamic Development Bank (IsDB)Latin American EnergyOrganization (OLADE)Regional Center for RenewableEnergy and Energy Efficiency(RCREEE)United Nations DevelopmentProgramme (UNDP)United Nations EnvironmentProgramme (UNEP)United Nations IndustrialDevelopment Organization(UNIDO)World Bank (WB) NON-GOVERNMENTAL ORGANISATIONS Renewable Energy Institute (REI)Renewables Grid Initiative (RGI)SLOCAT Partnership on Sustainable,Low Carbon Transport (SLOCAT)Solar Cookers International (SCI)Solutions for Our Climate (SFOC)Sustainable Energy Africa (SEA)Sustainable Energy for All (SEforALL)The Global 100% Renewable EnergyPlatform (Global 100%RE)Women Engage for a Common Future(WECF)World Council for Renewable Energy(WCRE)World Future Council (WFC)World Wide Fund for Nature (WWF) Global Women’s Network for the EnergyTransition (GWNET)Greenpeace InternationalICLEI – Local Governments forSustainabilityInstitute for Sustainable Energy Policies(ISEP)International ElectrotechnicalCommission (IEC)International Institute for SustainableDevelopment (IISD)Jeune Volontaires pour l’Environnement(JVE)Mali Folkecenter (MFC)Power for AllPower Shift AfricaRenewable Energy and EnergyEfficiency Partnership (REEEP) 350.orgAfrican Association for RuralElectrification (Club-ER)Asociación IvyCDPClean Cooking Alliance (CCA)Climate Action Network International(CAN-I)Coalition de Ciudades Capitales de lasAmericas (CC35)Collaborative Labeling and ApplianceStandards Program (CLASP)Energy CitiesEuropean Youth Energy Network (EYEN)Fundación Renovables (FER)Global Forum on Sustainable Energy(GFSE) PRESIDENT MEMBERS AT LARGE Arthouros Zervos Michael EckhartRabia FerroukhiDavid HalesKirsty HamiltonPeter Rae EXECUTIVE DIRECTORRana Adib FOREWORD In 2023, ongoing economic and geopolitical developments continued to cause major changes to the world's energy system. Markets were tighter andpolicy makers shifted their focus to ensuring security of supply. High inflation and cost of capital are inhibiting investment, particularly in developingcountries with high debt burdens, making development highly unequal across regions. The good news is that many governments are adopting and promoting renewables as an affordable and secure source of energy to stabilise supplyand mitigate inflation. Significant momentum has already been building in the power sector, where renewable electricity is driving the shift in energysupply. Renewables now account for over 30% of total final energy consumption in the power sector. But we need to accelerate this trend with necessary targets and policies. Special attention must be paid to increasing renewable uptake in heatand fuels as rates still hover at 10% and 3.5% respe