Clean Power & COP27
At 25% of all GHG emissions, the electricity sector is the greatest contributor to global emissions. The good news is there is an accelerating shift to renewables within the electricity sector, which form a share of over 29% globally.
As we prepare for a COP27, it is imperative that the global energy transition to clean power is also a just and equitable energy transition that provides reliable, clean power to the 1 billion without it.
All mitigation and adaptation efforts require energy access as a foundation. Clean power provides the least-cost, most resilient, and most effective access to energy. A just and equitable energy transition also requires a viable pathway for countries in the Global South to shift away from fossil fuel generation assets and reserves.
What COP27 means for the sector
If COP26 was notable for impressive financial and climate commitments from primarily countries in the Global North, COP27 is an opportunity to show the shift from commitments to action and implementation, and to highlight the voices of the Global South.
Clean power for the sake of the whole world needs to be not just about future financial commitments, but actual project development, and especially for large parts of Africa and Asia, with an emphasis on providing a just and equitable energy transition.
What’s at stake?
For Clean Power, COP27 is going to be about credibility and action. Countries in South America, Africa, and Asia are watching Europe and North America to see if commitments translate into implementation, and for real action toward a just and equitable energy transition, especially in light of the energy crisis in Europe, and questions about the role of gas.
This is also a COP where the concerns of the Global South need to be central – energy access, clean cooking, and adaptation should be at the forefront.
Asks for NSAs
- Major power users to sign-up to 100% corporate renewables sourcing to deliver further market signals consistent with sector transformation
- Concessional and commercial financiers to support exiting coal/gas financing and to scale-up investment in clean energy portfolios
- Major utilities to commit to RtZ to drive renewables deployment and fossil fuel phase out
- NGOs, commercial and concessional financiers, and government need to work in concert to provide technical assistance, advisory support and policy advice to countries with energy access and reliability targets
- Greater investment into clean power projects in the Global South, and stronger linkages between project pipeline development, project tendering, and capital
- Financial commitments by donor countries to support energy transition progress; and crucially, commitments from Just Energy Transition Partnership (JET-P) countries to transition
- Global adoption of Minimum Energy Performance Standards for the most common appliances – industrial motors, air conditioners, refrigerators, and lighting
- Major energy customers need to choose renewables, and advocate for market-enabling policies that make clean power an option for everyone
- Investors, utilities, and governments should advocate for grid resilience investment and planning as we prepare to electrify transportation and building in a higher-risk climate