According to the preview of the IRENA World Energy Transitions Outlook, the energy transition if off-course. Current plans and pledges fall below IRENA’s 1.5°C pathway and will result in an emissions gap of 16 gigatonnes in 2050. While global investments in energy transition technologies reached record highs of $1.3 trillion in 2022, annual investment should more than increase by 4 times current levels to remain on the 1.5°C track. IRENA says, cumulative investment from now until 2030 must sum up to $44 trillion, with energy transition technologies representing 80% of the investments ($35 trillion.)