Ocean Renewable Energy Action Coalition launches to accelerate global offshore wind capacity
An international Ocean Renewable Energy Action Coalition has been formed to advance sustainable deployment of ocean-based renewable energy and mitigate the harmful impacts of climate change, Equinor said in its release.
Ocean-based renewable energy—such as offshore wind, floating solar, tidal and wave power—could meet nearly 10% of the annual greenhouse gas emissions reductions needed by 2050 to keep global temperatures under 1.5ºC above pre-industrial levels, according to a report released by the High-Level Panel for a Sustainable Ocean Economy. Most of this climate change mitigation potential is expected to come from offshore wind.
Bringing together civil society, intergovernmental institutions and industry, the Action Coalition will represent the offshore wind sector in the global dialogue on climate action. It will be spearheaded by Ørsted and Equinor. The group also includes: CWind, Global Marine Group, JERA, MHI Vestas, Mainstream Renewable Power, Shell, Siemens Gamesa, TenneT and The Crown Estate.
The Action Coalition was formed in response to the September 2019 Call for Ocean-Based Climate Action made by the High-Level Panel for a Sustainable Ocean Economy, with additional partners including Global Wind Energy Council and the UN Global Compact.
The Action Coalition will prepare a vision for 2050, highlighting the actions that industry, financiers and governments can take to sustainably scale-up offshore wind, and thereby contribute to the UN Sustainable Development Goals and global decarbonization goals. Initial outputs will be announced at the UN Ocean Conference in Lisbon in June 2020.
Driven by a small number of countries initially, offshore wind is now on a spectacular cost reduction path. It is capable of producing clean energy at tremendous scale and will be a key technology to enable the energy transition and to support a sustainable future.