At COP29, leaders from governments, the private sector, and civil society joined forces to tackle energy, peace, and climate action. The conference saw new commitments to accelerate global efforts towards sustainable energy systems, climate resilience, and peacebuilding.
COP29’s energy initiatives emphasize green energy, hydrogen, and energy storage. The event featured a High-Level Roundtable on these topics, marking the official launch of three major energy pledges. These initiatives aim to bolster the global energy transition and align with ambitious climate targets.
- Global Energy Storage and Grids Pledge;
This initiative commits to deploying 1,500 GW of energy storage by 2030. This amount is six times the 2022 capacity. The plans include expanding and refurbishing 25 million kilometers of grids worldwide by 2030. They aim for an additional 65 million kilometers by 2040. - Green Energy Zones and Corridors Pledge;
Endorsers of this initiative aim to develop green energy zones and corridors. They aim to link regions rich in renewable energy sources to those in need. The goal is to create larger, interconnected grids for secure, cost-effective electricity transmission. - Hydrogen Declaration;
The Hydrogen Declaration focuses on scaling up the production of clean, renewable hydrogen and decarbonizing current hydrogen production. It aims to increase green hydrogen production from 1 million tonnes annually. It also seeks to reduce reliance on fossil fuel-based hydrogen. This type of hydrogen accounts for 96% of global production.
IEA’S CALL FOR ACTION
Fatih Birol, Executive Director of the International Energy Agency (IEA), highlighted the urgent need for rapid energy storage expansion. He also mentioned the necessity for grid upgrades to meet global climate goals. He emphasized that governments worldwide must prioritize energy storage. Resilient grids are also crucial to enhance energy security and affordability.
IRENA’S SUPPORT FOR RENEWABLE ENERGY SCALING
Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), affirmed that achieving the goal of tripling renewable capacity by 2030 requires overcoming challenges in grid integration. Storage solutions and grid expansion are vital to unlocking the full potential of renewable energy.
COP29 ; A CALL FOR PEACE, RELIEF, AND RECOVERY
COP29 also spotlighted the critical link between climate change and conflict. In collaboration with Egypt, Italy, Germany, Uganda, the UAE, and the UK, the conference launched the Baku Call on Climate Action for Peace, Relief, and Recovery. This initiative addresses how climate change exacerbates water scarcity, food insecurity, and displacement, which can lead to conflict.
THE BAKU CLIMATE AND PEACE ACTION HUB
The Baku Call also introduces the Climate and Peace Action Hub. This platform is designed to foster collaboration between peace, climate, and humanitarian efforts. The Hub will coordinate with initiatives like the Climate for Peace Initiative (C4P). It will also work with the Mattei Plan for Africa. The goal is to achieve sustainable peace in vulnerable regions.
THE COP TRUCE APPEAL
The COP Truce Appeal underscores the importance of peace in achieving climate justice. The appeal is supported by 132 countries and over a thousand organizations. It calls for global cooperation in addressing climate change. Promoting peace is viewed as an intertwined goal.
ACCELERATING INDUSTRIAL DECARBONIZATION
UNIDO and the Climate Club launched the Global Matchmaking Platform (GMP) to aid industrial decarbonization. The platform connects emerging and developing economies with technical and financial support for decarbonizing energy-intensive industries. It aims to help countries meet their emissions reduction targets while fostering green industrialization.
RENEWABLE ENERGY COOPERATION IN CENTRAL ASIA
IRENA and Azerbaijan’s Minister of Energy launched the Accelerated Partnership for Renewable Energy in Central Asia (APRECA). This initiative aims to accelerate renewable energy projects. It also seeks to enhance inter-regional connectivity. The goal is to foster green industrialization and socioeconomic benefits across Central Asia.
SUPPORTING RENEWABLE HYDROGEN PROJECTS
Development finance institutions pledged support for the 10 GW Lighthouse Initiative. The initiative aims to bring renewable hydrogen projects in emerging markets to the investment stage by 2030. This initiative contributes to the COP-centered “Breakthrough Agenda,” which focuses on making clean technologies, including hydrogen, affordable and accessible worldwide.
