Green Grids Initiative Calls for Global Action on Grid Infrastructure at COP29

Brussels, 7 November, 2024: The Green Grids Initiative (GGI) calls on private sector leaders and civil society organisations to support the Global Energy Storage and Grids Pledge announced by the COP29 Presidency. This critical pledge marks a significant shift in recognising the importance of grid infrastructure, setting a clear collective goal to add or refurbish 25 million kilometres of grids by 2030 – a crucial step towards aligning energy systems with the needs of a net-zero future. GGI highlights that substantial grid expansion and modernisation are paramount for integrating renewable energy, reducing energy bottlenecks, and facilitating a reliable, resilient energy transition.

With global electricity demand expected to grow by 20% faster over the next decade than the previous, today’s grid systems are not equipped to meet the demands of a decarbonised global economy. The Global Energy Storage and Grids Pledge encourages policies and investments that aim to double grid investments by 2030, expanding both transmission and distribution capacity to accommodate the surge in renewable energy projects. Through the deployment of grid-enhancing technologies and the strategic use of energy storage to offset the need for extensive grid expansion, this pledge focuses on creating an interconnected, efficient, and secure grid system.

While the pledge sets ambitious goals, GGI has published a complementary call, highlighting the need for additional long-term actions to sustain momentum beyond 2040 and achieve a 1.5°C future. In this consultation document, GGI calls on national governments, financiers, industry, and other stakeholders to commit to specific global grid targets, coupled with a framework to track progress and ensure transparency. As part of this call, GGI invites stakeholders to provide feedback on proposed targets and metrics, including grid capacity growth, permitting timelines, and renewable energy penetration, all critical to achieving national and global climate goals.

“The path to a clean, secure, and just energy future is only possible if grid infrastructure becomes a true enabler of the energy transition rather than a bottleneck,” said Marcus Stewart, Head of the GGI Secretariat. “Achieving the 3xRenewables target by 2030 requires rapid and coordinated investment in grids and energy storage worldwide. We encourage stakeholders to sign on to the pledge and also to join us in shaping a pathway to grid metrics that will drive meaningful, measurable progress.”

Endorsements for the Global Energy Storage and Grids Pledge are open to private sector and civil society organisations, presenting a unique opportunity to back an essential component of the clean energy transition. To endorse the pledge, contact: storageandgrids@cop29.az