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Energy Transition Council: Decarbonising the power sector, implementing the global renewables and energy efficiency targets and mobilising finance - 9th Ministerial chair's summary

Published 2 July 2024

Twenty Energy Transition Council (ETC) partners – Ministers, COP29 Presidency (Azerbaijan), international organisations, and Multilateral Development Banks – joined the UK and the Philippines co-chairs at the 9th convening of the ETC Ministerial on 22 May 2024.

At COP28, the UAE achieved a significant milestone by agreeing the “UAE Consensus,” a comprehensive agreement aimed at accelerating global climate action. To help achieve our global ambition on clean energy transition, over 130 countries also signed the Global Renewables and Energy Efficiency Pledge to triple renewable energy capacity globally and double the global annual rate of energy efficiency improvements by 2030. Responding to this outcome, the 9th ETC Ministerial agenda focused on the opportunities and challenges to decarbonising the power sector, implementing the global renewables and energy efficiency targets and mobilising finance.

The Ministerial also discussed the strategic expansion of the ETC’s mandate until 2030, the inclusion of new partner countries, and increasing financial and technical support through the Council’s Rapid Response Facility (RRF). Participants agreed that achieving our global goals require unified and coordinated efforts from governments, philanthropic organisations, and civil society to transition towards a low-carbon economy that is inclusive for all.

The ETC co-chairs, UK Minister of State for Energy Security and Net Zero, Justin Tomlinson, and Secretary of Energy of the Philippines, Raphael Lotilla, highlighted the important role of developed countries to both increase their domestic ambition to decarbonise the power sector but also to increase support to developing countries to enable them to accelerate their clean energy transition.

Minister Tomlinson said:

We only have 6 years to go until 2030, our window for decisive action narrows. It is essential that we work together to ensure that clean power is the most affordable, accessible, and attractive option for all countries to meet their power needs efficiently. The ETC is a valuable platform to help achieve these goals.

Secretary Lotilla said:

Achieving an equitable global energy transition relies on our ability to ensure that the cost burden of the energy transition will not be passed on to consumers as this will enable a much faster integration of renewables in our energy systems. Collaborative platforms such as the Energy Transition Council and its Rapid Response Facility for technical assistance can support ETC countries to play their part towards delivering the global goals of tripling renewables and doubling energy efficiency. However, more work needs to be done to unlock key enablers, especially finance, technology, and capacity building.

Leaders from ETC partner countries, including the Philippines, Indonesia, Pakistan, Lao PDR, Nigeria, Viet Nam, and Kazakhstan set out their commitments and highlighted the challenges to accelerate the clean energy transition. The Azerbaijan COP29 Presidency set out the key priorities for COP29, including to lead in the global clean energy transition and mobilising finance needed to meet the global renewables and energy efficiency targets. ETC partners agreed that successful implementation of these global goals will require robust international collaboration and a commitment to transparency and inclusivity.

Donor governments and Multilateral Development Banks (MDBs) – World Bank, IFC, ADB, AfDB, EBRD – highlighted the support provided to ETC partner countries. ETC partners emphasised the critical role that MDBs play in facilitating the global clean energy transition, particularly their role in financial support, technical expertise, policy assistance, and innovative financing solutions are crucial to overcoming the barriers to renewable energy deployment and energy efficiency enhancement.

The ETC was pleased to announce new partnerships with the US’s Net Zero World (NZW) and Clean Energy Solutions Center (CESC) initiatives, and Climate Emergency Collaboration Group (CECG). By cooperating on activities and sharing expertise, we will significantly enhance support for partner countries on their clean energy journeys. These partnerships will drive greater ambition on national policies and inspires greater action globally.

ETC members restated their commitment to making clean power the most affordable and reliable option for ETC partner countries to meet their power needs efficiently and to accelerate their clean energy transition – moving away from coal – while ensuring a just transition and improved energy access for all.

The ETC anticipates hosting its 10th Ministerial in Baku, Azerbaijan, as a significant step towards reinforcing the clean energy commitments of its partner countries.