- Published: 02 December 2020 02 December 2020
The Ocean Renewable Energy Action Coalition (OREAC) says that 1,400 GW of offshore wind by 2050 is achievable with increased government commitment and collaboration. A new report published by OREAC sets out how governments and industry can work together to unlock the global potential of offshore wind.
In its new report, OREAC outlines a roadmap to support the sustainable scale-up of ocean-based renewable energy and five fundamental building blocks to grow an offshore wind market: stable policies, pipeline visibility, resourced institutions, a supportive and engaged public, and a competitive environment. This report responds to the High Level Panel for a Sustainable Ocean Economy’s (Ocean Panel) ‘Transformations for a Sustainable Ocean Economy’, a political document which underscores the importance of offshore energy in developing a sustainable ocean economy. Ocean-based solutions can deliver 21% of carbon emissions reductions needed by 2050 to keep global warming within 1.5°C above pre-industrial levels, according to the Ocean Panel. Further offshore wind reduces air pollution and water consumption for energy use.