The COP29 Global Energy Storage and Grids Pledge, including clear targets for 2030, has already gained support by multiple countries and non-state actors.

Baku, November 15, 2024: Ministers from Uruguay, Belgium, and the United Kingdom presented their commitment to the COP29 Global Energy Storage and Grids Pledge at a reception organised by the Green Grids Initiative (GGI) and Global Renewables Alliance (GRA).

With more than 3,000 GW of renewable energy sources awaiting connection, enhancing grid capacity is essential to bringing new renewable energy sources online. The global grids target calls on governments to double annual investments and add or refurbish 25 million kilometres of grids by 2030, to align with net-zero emissions by 2050. The Green Grids Initiative (GGI), a UK-supported nonprofit, is helping countries to deliver on that target through its Climate Finance Principles for Grids, launched at COP29.

The event brought together leaders from government, industry, finance, and civil society to accelerate critical investments in grid infrastructure, a linchpin in meeting international clean energy goals. H.E. Minister Elisa Facio, Minister of Energy of the Republic of Uruguay, emphasised Uruguay’s commitment to advancing renewable energy integration and fostering sustainable, resilient energy systems for a carbon-neutral future.

H.E. Minister Tinne Van der Straeten, Minister of Energy of the Kingdom of Belgium, highlighted the importance of international momentum in achieving global grid targets. She stated, “Grids are more than just cables; they represent the competitiveness project of our era. They are also security projects and contribute to our overall welfare and to our common goal to ambitiously combat the climate crisis. This is truly the project for our time”.

H.E. Minister Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan underscores: “At a decisive stage in the global climate and energy journey, Azerbaijan’s initiatives in the global energy storage and grid infrastructure plays a crucial role in achieving global climate goals. This initiative creates a unique opportunity to accelerate clean energy development globally.”

“By enabling large-scale transmission, connecting remote high-potential energy sources with consumption centres, balancing supply and demand, and integrating substantial green energy capacities into the grid, Azerbaijan drives forward sustainable energy progress worldwide. COP29 calls on all of us to commit to these goals, strengthen our energy transition and climate action, and unite to build a sustainable future for our planet. Let us make COP29 a defining turning point and elevate our global climate and energy efforts to new heights,” Shahbazov added. 

The ministerial reception of Global Renewables Alliance and Green Grids Initiative marked a critical step toward securing the cross-sector partnerships needed to bring grid development to scale. H.E. Minister Kerry McCarthy, the United Kingdom’s Minister for Climate Change, will lead efforts to bring together global leaders from various sectors to catalyse action on these urgent investments. The high-level event aimed to build a political momentum and galvanise support for the infrastructure necessary to meet global renewable energy targets.

Marcus Stewart concluded the reception with these words: “Expanding grids is essential to enable the transition to renewable energy. There is No Transition Without Transmission. We welcome the COP29 Presidency’s initiative to establish a global grids target and we offer our support to help countries deliver on their individual commitments.”

Bruce Douglas, CEO of the Global Renewables Alliance. “We want to thank the leadership of the COP29 presidency and their powerful initiative to include a global grids target in the COP29 Agenda. The renewables industry is deeply committed to collaborating with countries worldwide to ensure the successful implementation of this target. Public-private collaboration can drive impactful change, fostering a grid network that will turn pledges into power” 

About the COP29 Global Energy Storage and Grids Pledge
The COP29 Global Energy Storage and Grids Pledge represents a multilateral commitment to strengthening energy storage capacity and grid resilience worldwide. This initiative supports a shared vision for a sustainable energy future, prioritising infrastructure that will drive the transition to renewable energy. Please read more here. This pledge is available to support as CSO or private entity, mail to: storageandgrids@cop29.az