As COP29 prepares for pivotal actions toward sustainable energy, the COP29 presidency, in partnership with the International Energy Agency (IEA), has identified essential strategies to expedite the global shift to renewable energy. These strategies align with steps from the Global Stocktake (GST) and build on the ambitious energy targets set at COP28. Five key priorities will guide the efforts in policy, financing, and infrastructure to drive meaningful progress.
Scaling Up Energy Storage and Grids: Meeting the target of tripling renewable energy capacity by 2030 hinges on substantial advancements in energy storage and electricity grid networks. Plans include a transformative increase in battery storage capacity and expanding electricity grids by millions of kilometers to maximize the impact of renewable energy worldwide.
Accelerating Energy Efficiency: To meet the goal of doubling energy efficiency by 2030, countries must speed up policy implementation and investments in energy efficiency measures across various sectors. Improving energy efficiency can reduce emissions significantly and provide a substantial portion of the emissions reductions needed to meet climate targets.
Cutting Emissions from Methane and Fossil Fuels: Continued focus on reducing methane emissions and transitioning away from fossil fuels is essential. Actions such as eliminating inefficient subsidies and implementing clear policies to phase out fossil fuel infrastructure are crucial for limiting global warming.
At COP29 in Baku, the energy transition will be a top priority. The COP29 presidency has launched initiatives such as the Global Energy Storage and Grids Pledge, Hydrogen Declaration, and Green Energy Zones and Corridors Pledge to foster collaboration and commitment to meeting these energy goals. As world leaders gather for the High-Level Roundtable on Energy, the urgency to act collaboratively is clear. The opportunity for decisive climate action is now, and COP29 is the moment for countries, businesses, and stakeholders to commit to practical actions and announce their contributions to achieving a sustainable, equitable energy future.
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