The world increased its global renewable energy capacity in 2023 by around 500 gigawatts (GW) to over 4,000 GW, according to the International Energy Agency (IEA). While this rate of growth in capacity (50% higher than in 2022) – the fastest in two decades – appears impressive, the same agency warned that the increase is insufficient to achieve last year’s COP28 goal of tripling renewable power capacity by 2030.