COP30 has proven to be an extraordinary one for GGI and the decisions made there will bring significant benefits to countries in the Global South whose people we are working to support.
At COP30 in Belem, Brazil, GGI received not one but two high-level endorsements for the work it is doing on accelerating grids to enable the energy transition, bringing clean electricity to the c750 million people in the Global South who do not have it. The first was from the COP Presidency and the second from the Ministry of Energy and Mines of Brazil.
In the open letter written by COP30 CEO Ana Toni, she backed GGI’s Climate Finance Principles for Unlocking Grids Finance and called on finance institutions to support them by joining the growing coalition of organisations committed to enabling the grids that will power the clean energy future. Ms Toni points out that:
“Current investment flows remain below what is required, particularly in developing economies, leaving many regions unable to integrate new renewable generation or strengthen power reliability. Addressing this financing gap is now one of the most urgent challenges for the global energy transition.”
Recognising the efforts of GGI and our partners, Ms Toni goes on to say: “To help meet this challenge, the Green Grids Initiative, supported by the Utilities for Net Zero Alliance and a working group of development banks, financial institutions and investors, has developed the Climate Finance Principles for Unlocking Grids Finance. The Principles harmonize taxonomies, define quantitative eligibility criteria, and provide common guidance for how financial institutions assess and support grid investments. By creating a more transparent and coordinated approach to financing, they seek to unlock the capital needed to build the grids that will support the expansion of renewable energy.”
The letter concludes:
“The COP30 Presidency is pleased to support this initiative as part of its Action Agenda, which is aimed at turning global commitments into practical delivery. The Principles will be spotlighted during COP30 through a global announcement and a High-Level Ministerial Dialogue on Grids in Belém, bringing together governments, financial institutions, and investors to accelerate progress on clean and resilient power systems.”
GGI’s second endorsement is equally supportive: “As the Ministry of Mines and Energy of Brazil and as guided by the COP30 Presidency and the Climate High-Level Champion for COP30, we confirm that the Green Grids Initiative (GGI) has our mandate to take forward the COP30 “Plan to Accelerate the Expansion and Resilience of Power Grids”, developed under Activation Group 1 of the COP30 Action Agenda.”
The letter – signed by Mariana Espécie, Special advisor to the Minister, Ministry of Mines and Energy on behalf of COP30 Presidency and Dan Ioschpe, Climate High-Level Champion for COP 30 – goes on to say:
“In particular, to establish a Coordinating Council for the Plan, with the main aims to:
a) Coordinate the COP30Plan to Accelerate the Expansion and Resilience of Power Grids, including tracking progress, regular convening of participating initiatives to ensure alignment, and cross pollination of learning.
b) Efficiently coordinate international assistance and expertise for accelerating the expansion and resilience of power grids within power system modernization programs, acting as a matchmaker or technical assistance clearing house.
c) Support advocacy for the grids agenda and Global Energy Storage and Grids Pledge at key global events across the year, building on GGI’s role to date and working with key partners to engage key stakeholder communities.”
Georgie Skipper, Founder & CEO at Lucetia Group, said:
“When we brought together leading grid and transmission experts to bid for the GGI, we had one objective: the complexity of accelerating the energy transition requires a global convenor on grids. With this mandate, GGI will supercharge the financing and development of grid and transmission projects worldwide. We look forward to advancing this work at an Australian-hosted COP in 2026, in the Indo-Pacific—where so much of this effort is urgently needed.”
A delighted Marcus Stewart, Head of Secretariat at GGI, commented:
“GGI was established to help accelerate to roll out of grids to enable the energy transition by bringing an ecosystem of actors together to work on key challenges.
Today’s announcements are important steps along that path. The growing momentum around the GGI Finance Principles will release global investment to fund new grid infrastructure across countries in the Global South. This is to ensure that the clean energy that is now being produced in greater quantities can actually reach the people who need it most. As we have said all along, there is “no transition without transmission”. This means that we cannot transition to sustainable growth based on clean energy, without the means of distributing and balancing the electricity. (According to the IEA around 750m people still did not have access to electricity in 2023 – most of these are in Sub-Saharan Africa.)
We are very satisfied that the financing regulations that previously blocked many applications for Grid finance can now be resolved. We welcome the understanding among potential investors that during this period of transition, there is a need for more flexibility in the short term so that we can achieve the long-term benefits of bringing clean energy to everyone. We very much look forward to reporting on projects as they secure funding from MDBs and other providers.
We are honoured that the COP Presidency has recognised our work and now entrusted us to carry the baton forward on the COP30 Action Agenda on Grids. They understand that with our track record, connections, expertise and the momentum we have already built up, we are the organisation best placed to take this project forward to a successful conclusion.
The COP Presidency and the Ministry of Mines and Energy clearly understand how crucial Grids are to optimising the benefits of the renewable energy surge. Without Grids, people simply won’t have access to clean electricity, so they are essential to a country’s sustainable growth plans and the future wellbeing of their populations.
We can assure the Ministry that we aim to meet all of their requirements and will take the COP30 legacy forward through establishing the Coordinating Council and continuing to engage with partners and potential partners over the coming months to move this critical agenda forward.
Finally, we would like to thank everyone who has helped to make this happen so far, members of our Finance Working Group, our ecosystem partners and members of the COP30 Grids Activation Group."
Friends of GGI include: African Development Bank (AfDB) Agence Française for Développement (AFD) Asian Development Bank (ADB) Asian Investors Group for Climate Change (AIGCC) British International Investment (BII) Climate Bonds Initiative European Bank for Reconstruction and Development (EBRD) European Investment Bank (EIB) Glasgow Financial Alliance for Net Zero (GFANZ) Global Renewables Alliance (GRA) Global Wind Energy Council (GWEC) Gridworks HSBC Imperial College Institutional Investors Group for Climate Change (IIGCC) Interamerican Development Bank (IADB) International Renewable Energy Agency (IRENA) Swedish International Development Agency (SIDA) The Carbon Trust UK Department for Energy Security and Net Zero (DESNZ) UK Foreign, Commonwealth & Development Office (FCDO) Utilities for Net Zero Alliance (UNEZA) World Bank UN Economic and Social Commission for Asia and Pacific (UNESCAP) African Union and many others.
