ENERGY, AT COP29 NEW INITIATIVES “TO KEEP THE WINDOW OPEN TOWARDS 1.5°C”
- Three energy initiatives launched at COP29
- The initiatives focus not only on increasing production, but also on energy storage, efficiency and grids.
At COP29 in Baku, a high-level meeting on green energy, hydrogen, global energy storage and grids took place. The discussion focused on achieving the energy targets set by COP28, in particular the Global Pledge to triple renewable energy capacity and double energy efficiency.
The COP29 presidency has officially launched three energy-focused initiatives, and has asked Parties and non-Parties to support all of them. The initiatives aim to build on the results of the first Global Stocktake on renewable energy and hydrogen, and are as follows.
Global Energy Storage and Grids Pledge,
is the global commitment to energy storage and grids.
Supporters commit to a collective distribution target of 1,500 GW of global energy storage by 2030, more than six times the 2022 capacity. The initiative also includes a commitment to add or renew 25 million kilometres of global grids by 2030, recognising the need to add or renew another 65 million kilometres by 2040.
Green energy zones and Corridors Pledge,
the commitment to green energy zones and corridors.
Supporters are committed to promote green energy zones and corridors to connect sources of abundant green energy generation with the most needy communities, developing larger intra-regional and inter-regional interconnected electricity grids. These grids will allow for the safe and cost-effective transmission of electricity over long distances.
COP29 Hydrogen Declaration,
the COP29 Hydrogen Declaration.
Supporters commit themselves to increase the production of renewable, clean, zero-emission and low-carbon hydrogen and accelerate the decarbonization of existing hydrogen production from unabated fossil fuels. The goal is to significantly increase green hydrogen production from the current million tonnes per year and reduce the 96 million tonnes of hydrogen currently produced from unabated fossil fuels.
Fatih Birol, Executive Director of the International Energy Agency (IEA), said that «the world is moving rapidly towards the Electricity Age».
«We urge governments around the world to make energy storage and resilient grids the top priorities – added, in an effort to build more secure, affordable and sustainable energy systems». The IEA’s analysis has shown that to achieve their energy and climate goals, countries must rapidly increase energy storage and also expand and upgrade their electricity grids.
Francesco La Camera, Director General of the International Agency for Renewable Energies (IRENA), also spoke at COP29, stressing that the initiatives proposed in Baku are «fundamental to keep open the window towards 1,5°C».
«We at IRENA are convinced that the approval and implementation of today’s initiatives by countries will become the key to advancing energy transitions in line with the objectives of the Paris Agreement,» he added.
Article by Paolo Della Ventura, delegate of Italian Climate Network
Cover image: COP29