Global Offshore Wind Alliance (GOWA)’s Post

*COP29: Day 6* (16 Nov 2024) Today, COP29 saw over 1,000 endorsements for the COP29 Green Digital Declaration. This milestone brings together leaders from the private sector, NGOs, civil society, and governments in leveraging digital innovation for Climate Action, calling for sector-wide collaboration to accelerate climate-positive digitalisation, improve energy efficiency, and promote inclusive digital access, especially in developing countries. Furthermore, utilities pledge to boost grids & storage in strong Implementation signal. The powerful global community of 45 utilities & power sector suppliers under UNEZA , reinforced their commitment to annual grids & renewables investment of more than $117bn, driving the path to Net Zero energy. In another front, Members of Alliance for Industry Decarbonization enhanced a collective commitment of reducing GHG direct emissions by 54% as part of 2030 targets. We have less than 6 years to triple renewables towards 11.2 TW by 2030. Only by closing the current gaps needed to achieve the global energy targets we can keep the 1.5°C goal within reach. Tomorrow I share thoughts around positions Africa should be taking at COP29!!

🌍 COP29 Azerbaijan & International Energy Agency (IEA): A Call to Action for an Equitable Energy Transition🌍 As #COP29 begins, the COP29 Azerbaijan Presidency and the International Energy Agency (IEA) have joined forces to advance a just and impactful energy transition. Yesterday, they identified five key opportunities for accelerating the global energy goals set at COP28, with a clear focus on reaching the 1.5°C target. 🔑 Five Focus Areas for COP29 Success: 1. Expand Energy Storage & Grids: Key to tripling renewable energy capacity by 2030. 🌞 2. Accelerate Energy Efficiency: We must double our efforts for a sustainable future. 💡 3. Reduce Methane & Fossil Fuel Emissions: Essential to curb climate change impact. 🌍 4. Boost Clean Energy Investment in Developing Economies: Ensures no one is left behind. 🌱 5. Update National Climate Pledges: NDCs must align with the Global Stocktake outcomes. 📊 COP29 aims to deliver real progress by mobilizing support from all sectors—business leaders, civil society, financial institutions, and governments. Together, we can drive sustainable growth, investment, and innovation toward a cleaner, fairer world. 🌎💪 #ClimateAction #EnergyTransition #RenewableEnergy #GlobalPartnership #SustainableFuture #COP29 #IEA

This year's COP29 Azerbaijan in Baku delivered critical progress but also exposed areas where much more work is needed. EDP has been an active participant in the global meeting since Paris in 2015, and continues to contribute to a positive and constructive debate to accelerate the green energy transition. EDP’s team takeaways from Baku rely on 5 essential points of action: 🔨 Scaling renewables and grids While the global commitment to triple renewable energy by 2030 (#3xRenewables) was reaffirmed, turning ambition into action requires national solid energy plans, effective policy frameworks, grid infrastructure and storage investment. The pledge to double grid investments and increase storage sixfold is a positive step, but we must accelerate implementation. 🪙 Financing for the transition The new climate finance deal aims to mobilise $300 billion annually for developing countries by 2035. Multilateralism continues to be a crucial element in advancing climate initiatives. Still, the $1.3 trillion target of public and private funding, aiming to strengthen resilience against climate disasters, finance renewable energy projects, and support sustainable development pathways seems still far off. 🛑 Ending the fossil fuel era Although COP29 did not commit explicitly to phasing out fossil fuels, the momentum for clean energy is undeniable. Businesses across the globe are adopting clean technologies not only as a climate necessity but also as an economic opportunity. 🌍 Collaborating to overcome challenges Concerns of developing nations, least developed countries (LDCs), and small island developing states (SIDS) need to be addressed regarding their perceptions of the financial agreement's inadequacies. 🌳 Committing to the planet EDP is firmly committed to the global goals of the Paris Agreement. We strive to be all-green by 2030 and achieve net-zero by 2040, and these discussions reinforce the significance of our vision towards clean energy, grid resilience, and innovative solutions. The Group is now looking ahead to COP30 in Belem, Brazil. Governments, businesses, and civil society need to deliver on the promises made, through bold action, clear frameworks, and unprecedented cooperation. #EDPWeChooseEarth #COP29 #CleanEnergy #ClimateFinance

On Tuesday I represented President Ursula von der Leyen at the leaders’ session of COP29 Azerbaijan. This two-day official opening of the Conference is the moment when heads of state and government deliver their opening statements. It is also the moment when many partners come together to make new announcements. This time, we focussed our announcements on the clean energy transitions, following upon the positive outcome of last year’s COP28. At COP28 we made historic commitments: tripling renewable energy capacity and doubling energy efficiency by 2030. This is not just a target but the best investment we can make. Renewable energy is homegrown, it creates jobs, it strengthens our independence, and it is cheaper than its dirtier alternatives. In 2023 the EU reduced emissions by 8%, thanks to a rapid expansion of renewables. Already today, over half of Europe’s electricity comes from wind and solar, surpassing all fossil fuels. But globally, emissions still rose by 1.3% last year. This is our common challenge, and why we wanted to demonstrate our successes, and share the example with other countries. Now we must accelerate, multiplying clean energy investments and projects on every continent. I also announced the EU Methane Abatement Partnership Roadmap – to bring down the carbon footprint of gas imports and exports - and joined a high-level event of the Climate Club, which is an important initiative led by Chile and Germany - where ambitious countries discuss concrete ideas to decarbonise their economies. Together, these initiatives will help build a clean and competitive economy for Europe, and shape a stronger, more resilient global climate framework. I also had good discussions with United Nations Secretary-General António Guterres and a range of leaders on how to find a landing zone on the climate finance negotiations during the COP. The rest of this week will focus on the technical negotiations to advance with the different texts that we will need to adopt at the end of the COP. Good luck to the EU team, and I’m looking forward to picking up the baton and supporting them again next week! #EUatCOP29

Nice speech....but he forgot to mention the importance of Industrial Carbon Management 🤭 I thought this was where he was going when he said: "Yet if you take a more global look you will find emissions still rose by 1.3% last year.  It shows where our common challenge is. " It does indeed show where the challenge is: fossil fuel emissions. Ideally we can reduce them by quickly growing renewables and improving efficiency. But clearly that is not going fast enough and we are already running into limits in some EU countries (grids, costs, etc). We need to stop pretending that we can phase out fossil fuels fast enough. Of course we need to keep pushing on all these things Wopke Hoekstra mentions in his speech. But we ALSO have to start reducing emissions of the fossil fuels we still use. Not only methane, but also CO2. EU did a good job catching up recently with the industrial carbon management strategy and the 50 Mt target in the NZIA. But we are recovering and storing less than 1% of all the fossil carbon we still use in Europe. In 2050 that has to be 100%. That is not going to happen if we don't make it happen! we need policies, regulations, incentives for scaling up CCS and CDR more rapidly, in the same way that we needed them (and still need them) for renewables, batteries, grids, etc. And we need the EU to talk about the importance of this at COPs, so that other countries and regions will also start working on this and including targets in their NDCs. It is not EITHER-OR but AND-AND: grow renewables further (reducing fossil fuel demand and use) AND gradually reduce the carbon footprint of remaining fossil fuel use to net zero. Let's be honest, the transition may take more time than we hoped, and then it becomes more important still that we reduce the emissions from fossil fuel use by ramping up CCS and CDR. Tom Berendsen Henri Bontenbal Silvio Erkens Bram Cool

Sessions Today at COP29: 15 November – Clean Energy and Resilient Recovery   Today at COP29, WGEO will focus on Clean Energy and Resilient Recovery. Events will include the announcement of the Carbon Neutral Cities Initiative, showcasing WGEO’s support for African cities in achieving carbon neutrality. Additional highlights include keynote addresses from WGEO’s Chairman and the Secretary General of UCLG-Africa, and discussions on carbon markets, green recovery strategies, and modernizing infrastructure for a renewable energy transition. A dedicated training on Article 6 will equip participants to meet their Paris Agreement commitments.   📅 November 15, 2024 📍 WGEO Pavilion No. C12, Blue Zone, COP29, Baku, Azerbaijan   Follow WGEO for live updates as we discuss strategies for a resilient, low-carbon future. World Green Economy Organization (WGEO) COP29 Azerbaijan   #WGEO #COP29 #COP29Azerbaijan #WorldGreenEconomyOrganization #ClimateAction #Baku #GreenEconomy #WGEOatCOP29

#Climate #finance takes center stage at #COP29. The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change, better known as COP29, is wrapping up in Baku, #Azerbaijan. The conference was attended by over 70,000 people, 60,000 of whom were guests from 169 countries. Among them were 80 world leaders, including heads of state and government. COP29 is expected to approve 14 initiatives, one of the most significant being the proposal to establish a Climate Finance Action Fund (CFAF) based in Baku. This facility aims to receive an initial contribution of $1 billion from fossil fuel-producing countries and companies. But, according to the 2022 report from the Independent High-Level Expert Group on Climate Finance, the most developing countries will need approximately $1 trillion annually by 2025 and $2.4 trillion annually by 2030 to meet their climate finance objectives [https://lnkd.in/e998YXku]. Despite significant negative trends in financing the green transition, investment in renewable energy continues to rise. Total global energy investment is expected to exceed $3 trillion this year for the first time, with approximately $2 trillion allocated to clean technologies, including renewables, electric vehicles, nuclear energy, grids, storage, low-emission fuels, energy efficiency, and heat pumps [https://lnkd.in/eCpCwzvU]. It is important to note that when the #Paris Agreement was reached in 2015, total investment in renewable energy for electricity generation was double that of fossil fuel power plants. This year, that figure is projected to increase tenfold, with solar power investments exceeding all other electricity generation technologies combined. Solar power investment is expected to reach $500 billion this year, driven by rapidly falling solar panel prices that encourage new investments [https://lnkd.in/eFcY9Mkp]. #China is set to invest at least $675 billion in clean energy this year, fueled by strong demand for solar power, lithium batteries, and electric vehicles [https://lnkd.in/eCCECyE7]. #Europe and the #US follow, with clean energy investments of $370 billion and $315 billion, respectively [https://lnkd.in/eRhMwykn]. These three economies account for over two-thirds of global clean energy investment, highlighting significant disparities in international capital flows into the new energy and the need to strengthen international cooperation. https://lnkd.in/ep4BYbp9

Baku is buzzing with great discussions about the energy transition, and it is amazing to be in the middle of that at #COP29. Yesterday, I arrived to COP and hit the ground running as part of the Ørsted delegation with Lauren Uppink Calderwood and Ulrik Stridbæk. My highlight so far is a round table that I joined and gave a remark about our 1-pager on how to accelerate the renewables investments through the Nationally Determined Contributions (NDCs) - drafted by my great colleagues Tord Bjorndal and Claire Ballay. In this 1-pager, we’ve identified 3 crucial steps: 1) Sectoral Targets: First step is that we need economy-wide targets for all sectors incl buildings, the power sector, and transport. 2) Technology Targets: We recommend a framework where the targets are accompanied with estimates on expected costs and emission reduction potentials for different technologies. 3) Transparency Around Targets: The NDCs should describe the main regulations and mechanisms that governments plan to put in place to support the achievement of targets. This will ensure transparency around the targets and allow checking how realistic they are! I’m looking forward to the next days at COP and to meet more inspiring people and join more excellent events about topics like steel decarbonisation and the skills needed for the green transition♻️

A huge thank you to Kahlil Edwin, Project Lead for COP29 Azerbaijan, for his insightful presentation during our todays EIC (Energy Industries Council) session on the road to COP29, taking place in just over 50 days time. Taking place in Baku, Azerbaijan, it’s clear that this COP will continue to shape the future of global energy and climate action. My Key Takeaways from Kahlils presentation: 🔹 Azerbaijan has a strong commitment to achieve net zero by 2050, whilst aiding industrial decabonisation. 🔹 International collaboration at COP29 is essential to achieving deep, sustained emission reductions. 🔹 COP29, the ‘Finance COP’ will focus on areas such as finance, energy, and innovation, which will have a profound impact on global energy supply chains. 🔹 The Green Zone will once again be a hub for businesses, governments, and innovators to share solutions for a zero-carbon future. If you'd like to receive a copy of today's presentation, feel free to send me a message. #COP29 #Sustainability #EnergyTransition #ClimateAction #GlobalCollaboration

UK at COP29: Leading the Clean Energy Revolution⚡🌱 As the world gathers at COP29, the UK steps forward with a bold vision: to become a clean energy superpower, accelerating industry and propelling sustainable growth for generations. With transformative initiatives like the £1 billion offshore wind contract and ground breaking steps to bolster green supply chains, create jobs, slashing emissions, and ensuring energy security for a resilient, low-carbon future. 🌍The UK is not only setting ambitious targets but also demonstrating that global climate leadership means real, tangible actions. At COP29, we’re calling on nations to join us in driving a cleaner, more equitable world, working together to harness the power of innovation and finance. ✨ Cambodia’s Clean Energy Journey: On a similar path, Cambodia is making impressive strides in renewable energy, reinforcing Southeast Asia’s shift towards a sustainable future. Together, we are building a world powered by clean energy for all. #UKCOP29 #CleanEnergy #ClimateAction