At COP29, the spotlight turned to urgent reforms and actionable climate commitments. Ban Ki Moon and Christiana Figueres advocated for strict COP presidency eligibility criteria, calling to exclude fossil-fuel-expanding nations from hosting. UNEZA announced a doubling of its membership, committing $117 billion annually to renewable energy and grid investments. Meanwhile, the Global Energy Storage and Grids pledge gained momentum, with backing from the UK, Uruguay, Belgium, and Sweden. As warming projections remain stuck at 2.7°C by 2100, the call for bold, coordinated action and INNOVATION has never been louder!
The Final COP in a Petrolstate?
- An open letter from top climate experts, including Christiana Figueres and Ban Ki Moon, calls for strict eligibility criteria to bar countries expanding fossil fuels from holding COP presidencies.
- The letter argues the current COP structure cannot deliver the rapid, large-scale change required to tackle the climate crisis effectively.
- COP29’s presidency, led by Azerbaijan’s Ilham Aliyev, continues to promote fossil fuels as a “gift from god” with no mention of the Paris Agreement in over a year of speeches.
- Global Witness reports nearly 1,800 fossil fuel lobbyists attended COP29, with some included in national delegations by countries like Japan, the UK, and Canada.
- Campaigners urge the UNFCCC to adopt a conflict-of-interest policy to limit fossil fuel influence and ensure COP processes are aligned with climate goals.
“Strict eligibility criteria to exclude countries who do not support the phase out/transition away from fossil energy” – Ban Ki Moon, Former UN Secretary General
Utilities for Net Zero Alliance (UNEZA)
Expansion and Investment Commitments
- Since its launch at COP28, UNEZA has doubled its membership, now encompassing utilities operating across five continents.
- Members have pledged over $117 billion annually, with allocations of more than $60 billion to renewable energy and over $57 billion to grid infrastructure.
- These commitments align with the COP29 Global Energy Storage and Grids pledge, aiming to enhance global energy storage and grid capabilities.
- The collective grid infrastructure capital expenditure plan through 2030 is intended to guide equipment manufacturers in scaling production to support grid development.
- https://www.utilitiesfornetzero.org/
“UNEZA is at the forefront, modernising utilities for a resilient, renewable future” – Francesco La Camera, Director-General at IRENA
Global Energy Storage and Grids Pledge Gains International Backing
- The COP29 Global Energy Storage and Grids pledge aims for 1,500 GW in energy storage and 25 million km of grid infrastructure by 2030, backed by countries including the UK, Uruguay, Belgium, and Sweden.
- This pledge is vital for integrating renewables, enabling reliable power transmission, and achieving the goal of tripling renewables by 2030.
- The Global Renewables Alliance urges governments to adopt policy and regulatory reforms to drive investments and accelerate storage and grid development.
- By 2030, 1.5 TW of storage capacity is required, with demand expected to grow further to decarbonise global electricity systems and heavy industries.
- Rapid and significant investment in new and existing grids is essential to meet the 3x Renewables target and Paris Agreement goals, marking a defining moment for climate action.
- https://globalrenewablesalliance.org/storage-grids/
Launch of the Hydro4NetZero- LAC initiative
- Hydro4NetZero-LAC aims to modernise and expand sustainable hydropower infrastructure, enhancing energy systems’ flexibility and resilience across Latin America and the Caribbean.
- ITAIPU, one of the world’s largest hydropower plants, exemplifies the potential of hydropower to meet energy demands, supplying 90% of Paraguay’s electricity and 10% of Brazil’s.
- The initiative emphasises cooperation across Latin America to address energy challenges and foster shared sustainable development.
- Hydro4NetZero-LAC contributes to the energy transition by supporting carbon neutrality goals through hydropower modernisation and integration into renewable energy systems.
The African Energy Commission (AFREC) launched a continental level Energy Efficiency Programme
- Accelerate Africa’s shift to efficient lighting and appliances, cutting electricity use, emissions, and air pollution.
- Focus on industry, appliances, buildings, transport, and agriculture through AFREC’s Energy Efficiency Programme.
- Harmonise standards, implement MEPS, and build policymaker and industry capacity.
- Save $175 billion, avoid the construction of 50+ (1Gw) power plants, over the next 20 years.
- https://au-afrec.org/energy-efficiency-programme
Climate Action Tracker Release Current Forecast to 2100
- Global warming projections remain at 2.7°C by 2100, with no improvement since 2021, highlighting a gap between climate urgency and policy action.
- Current policies risk a 33% chance of exceeding 3.0°C and a 10% chance of surpassing 3.6°C, exacerbating climate impacts.
- Despite record investments in renewables and EVs, fossil fuel subsidies remain high, counteracting clean energy progress and delaying steep emissions declines.
- Seven large emitters (China, US, India, EU, Indonesia, Japan, Australia) and COP Troika countries (UAE, Azerbaijan, Brazil) account for 63% of global emissions and must strengthen 2030 and 2035 targets.
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