Accelerating the Global Energy Transition: Advancing Renewables and Mobilizing Investment - Informal Interactive Dialogue, General Assembly, 80th session

Good morning.
I hope you all had an interesting evening, and maybe also afterwards a discussion after the town hall yesterday evening.
I call now to order the informal interactive dialogue of the Assembly on accelerating the global energy transition, advancing renewables, energy efficiency, and international cooperation.
I warmly welcome you and your speakers to this meeting.
As outlined in my letter dated July 7, 2026, this dialogue serves as an opportunity for member states to take stock of the progress in the energy transition, share best practices, and identify actions needed to accelerate implementation of already agreed global goals.
And I welcome warmly representatives, experts, and heads of UN agencies in this field, but also longstanding friends and partners on the climate topic.
So I'm very, very happy and delighted that we have Simon Steel, Executive Secretary of the UNFCCC, with us today; Francesco La Cammera, Director of IRENA; and Mr.
Solwin Hart, Assistant Secretary-General and Special Advisor to the Secretary-General on Climate Action and Just Transition.
Thank you for joining us this morning.
I now make a statement as the President of the General Assembly.
The good thing about this morning is we don't have to explain very long why we are here.
We all are here because we know that the climate crisis is one of the greatest threats to human security, and therefore we decided by consensus as member states 10 years ago to counter it together by achieving global net zero greenhouse gas emissions, by scaling up renewable energy, and by ensuring energy access for all while supporting a just transition that advances the 2030 Agenda for Sustainable Development.
It seems like decades ago; it was only in 2015, and the good thing is that in between these years so much has happened.
However, we also all know that this shared aspiration has not yet resulted in the speed and coordination we need, and actually it could, given the modern forms of technology.
Still, too much is done in silos, too often finance does not flow to where it must be needed.
In fact, I recall during my first days here as the President of the General Assembly, when I had the honor of receiving the Prime Minister of a small island developing state, which was facing the challenge in securing finance for large wind turbines.
And she was saying, you know, we only need five.
We talked to so many other member states, yeah, can you just organize the turbines? Because they would have simply ensured the whole energy and the whole electricity grid to be 100 percent renewable.
But this lack of matching, I think, is what we have to address mostly, because the answers are all there, but the matching is missing.
Because not there's really a lack of finance, but the failure to match with these projects and infrastructure investments for some countries are even that the projects are too little.
So actually that you need too little finance to actually implement it or attract bigger investors.
So much of this is because many of the most important financial discussions take place through separate fragmented processes in which, for instance, 35 finance ministers working through the COP 30 circle of finance ministers under UNFCCC, last time in Belém, they meet, they agree on solution, but these discussions are not necessarily reflected then here again when we consider in these rooms the civilian commitments or when member states engage in DC separately with international finance institutions.
And therefore I'm grateful that today, as said, the Executive Secretary of the UNFCCC, the Director General of IRENA, and the Special Advisor to the Secretary-General on Climate Action and Just Transition are here with us today.
Your Excellencies and distinguished delegates, because we want to bring the topic of clean energy security to the heart of multilateralism and to increase the coordination across institutions, processes, and centers of decision-making exactly here also at the General Assembly.
And that principles that the topic of clean and accessible energy belongs at the heart of multilateralism runs through the advisory opinion of the ICJ on the obligations of states in respect of climate change requested by this General Assembly through Resolution 77/276, in which the Court affirmed that states have an obligation to cooperate continuously and meaningfully in addressing climate change.
And we heard it also during the recent high-level political forum.
Unless we bring our efforts together, we will not deliver the energy transition required to achieve the Sustainable Development Goals.
And the UAE climate consensus translated that understanding into a clear global agenda: to triple renewable energy capacity, to double the global average annual rate of energy efficiency, to improve it by 2030, and to transition away from fossil fuels in energy system in a just, orderly, and equitable manner.
And here's where the word "equitable" is crystal clear.
Fairness is what will determine whether the transition in the spirit of the 2030 Agenda truly leaves no one behind.
For without reliable access to energy and electricity, entire communities will be unable to do many things others take for granted: opening a bank account, renting a home, or benefiting from digital advances in health and education, let alone from AI.
Without electricity, none of them will be possible in the future.
Put simply, without delivering on the promise of the UAE climate consensus, we will not deliver on the 2030 Agenda.
But the good news is that we already know what needs to be done, including the investments in infrastructure storage and stronger grids.
The challenge is the implementation.
The challenge is the matching of finance with viable projects, like for the small island states who only need a couple of wind turbines.
So our task is to learn from what works, adapt it to different national circumstances, and scale it up.
Be it the frontrunners such as Kenya, where nearly 90 percent of electricity generation comes already from renewable energy sources, or Chile, where renewables are generating two-thirds of the country's electricity already in 2025, or the big cities like Buenos Aires, which led already in 2019 the transition from having the whole public street lighting network for energy-efficient LED technologies.
And we all know these examples differ in geography and scale and national circumstances, but they all demonstrate that workable models already exist, provided we scale up finance.
Unfortunately, for many countries, especially least developed countries, financing remains the biggest obstacle.
And this is where international cooperation is so essential.
And again, and this is sometimes where the citizens in our national context also do not understand politics anymore, and it's the same at international level.
If people see that things are already working also in the private sector, then they really ask, so why is not the public sector capable of implementing it? And what we have seen, especially in the cooperation on finance, in my point of view, is incredible.
Be it in Burkina Faso, where a concessional loan and reimbursable grant from Sustainable Energy Fund for Africa is already helping to finance an 80-megawatt solar power plant alongside other development financing.
Or, as we just learned, that in Ecuador we are doing actually the debt-for-nature swaps, which we discussed for so many years for the debts-for-climate swaps, backed by private partners and helping to protect, in this case, the Galápagos and Amazon, and to drive climate action.
This demonstrates that target public and concessional finance, combined with multi-stakeholder cooperation among multilateral development banks, climate funds, international finance institutions, bilateral partners, and private investors, can turn plans into projects and attract investments.
And we have to ensure that our UN, that this place is the base for all of this.
And for those who argue that we are facing headwinds in climate policy, obviously we do, we have all felt them, but we should only recall the time of 2015, when we saw the years before climate conference failure after failure.
But then in Paris, the agreement was adopted, and many skeptics even then after the adoption argued that a transition to renewable energy would be completely unrealistic.
I remember myself even mentioning facing out of coal, I was almost expelled from politics, and this was only 10 years ago.
And now many countries are showing how you can do a just transition of facing out of fossil energy.
And we have proven altogether the skeptics wrong.
In 2025 alone, renewable energy is accounted for over 85 percent of all new power capacities worldwide.
This year, some $2.2 trillion is expected to flow into clean energy, almost twice the amount invested in fossil fuels.
And these are not just investments in climate; we also know these are investments in peace and security, in energy security, and in resilient economies.
For as recent crises on supply chains disrupted near the Strait of Hormuz before in the Black Sea demonstrated that dependence on volatile fossil fuel markets leaves countries vulnerable to shortages, geopolitical pressure, and sudden price shocks, as we have discussed extensively here in the General Assembly in February and in March.
So I invite you to keep this in mind as we discuss over the next hours how we can scale up what is already working and deliver on the promise of the Paris Agreement and the UAE consensus for everyone.
And if we don't want to call it climate security, then we call it energy security, or we call it protection of our peace.
Because the peace agreement was adopted, and the Paris Agreement was adopted in 2015, it's only mentioning not only security but also justice, especially in the face of Africa.
And I think it's important to remember, and those experts besides me know it probably the line and the paragraph.
I had a bet in my old ministry where it was renewable energy was actually mentioned only once in 2015 in the two different documents, but it was only mentioned in relation to Africa and its urgent need of the continent for universal access to electricity.
Yet today, and this is really something we have to address, we face a cynical situation that in the decades since every region other than Africa has benefited far more extensively from the renewable energy transition.
While China, the United States, and the European Union accounted for almost 80 percent of renewable energy capacity worldwide in 2025, Africa accounted for just 1.6 percent.
So without a major expansion of renewable energy across Africa, we will not deliver sustainable development for the continent, but we will also not deliver on the promise we made 2015 in Paris, nor will we be able to claim that global transition is just and equitable for all.
So today the core of our dialogue is to ask one concrete and practical question: how can we deliver on our promise and live up to our responsibilities, but not in theory, but with concrete practices? Where does it have a gap that, for example, with UNFCCC discussions in Belém and then coming up in Türkiye, that there's a different discussions going on than the discussions we are having here? Or that at IRENA you're saying we are doing all this, but unfortunately we are not implementing it here in the General Assembly.
Because we have to reach every region, we have to ensure that it works for every economy, and that it improves the lives of all the people it is meant to serve.
In this regard, thank you for being here with us today.
And I now have the honor to invite our distinguished guest to take the floor.
As first, I would like to give the floor to Simon Steel, Executive Secretary of the United Nations Framework on Climate Convention.
Please, yeah.
Thank you very much.
Madam President, Excellencies, colleagues, it is a pleasure to join you here today.
I traveled to New York direct from India, where I heard corporate leaders extol the benefits of clean energy.
Because clean energy means growth, jobs, and stronger security.
This year has made the case.
Conflict has taken an appalling human toll and choked global energy markets, pushing up prices for billions of people and demonstrating that clean energy is secure energy.
Renewables frontrunners like Spain and Pakistan have been shielded from some of the worst effects of today's fossil fuel cost crisis.
Meanwhile, conflict, economic downturns, and climate-related shocks have dealt a triple blow to food security.
Harvests are threatened by the climate supercharged impacts of El Niño and fertilizer shortages.
That means higher food prices for billions of people, and the most vulnerable staring down the barrel of more scarcity and desperate hunger.
But this is not the story of a single year.
A world addicted to coal, oil, and gas is a world of economic uncertainty, unnecessary costs, and conflict.
Southeast Asia's energy import bill is set to reach $160 billion this year.
And while we keep burning fossil fuels, our planet will keep heating, undermining peace and stability.
Hunger, displacement, and scarcity all fuel conflict.
And the climate crisis inflames them all.
It is imperative to build resilience, protecting people, livelihoods, and economies from escalating climate disasters at the same time as accelerating the energy transition.
Renewables are cheaper, more accessible, and faster to market.
They can fortify the foundations of peace, boosting sustainable development, the best conflict prevention tool we have, while reducing emissions and supercharging economies.
No wonder governments increasingly view climate as a security issue, or that the global energy transition is now irreversible, as every country said at COP 30.
That transition must be faster to meet the demands of science, fairer so every nation benefits, and just, supporting countries and communities historically dependent on fossil fuel revenues.
And renewables, electrification, and efficiency must be progressed together in countries and industries.
For example, major AI companies must supercharge efficiencies as they answer the UN Secretary-General's call to power every data center with renewables by 2030.
At COP 28, countries committed to accelerate the transition away from fossil fuels and to triple renewable energy capacity and double energy efficiency by 2030.
Climate cooperation is key to delivering these.
Regional cooperation through cross-border connections, power pools, and common standards.
And global cooperation convened by the United Nations, which is increasingly focused on supporting implementation.
The global climate action agenda is vital in parallel with the negotiations.
This central part of the Paris Agreement machinery brings together governments, business, investors, civil society, and more to turn words on paper into real projects.
And this year's up-and-coming COP presidency, Türkiye, has announced action agenda targets, including a global electrification target of 35 percent by 2035.
Electrification is a golden ticket to more prosperity and stability, including for small island developing states like the one I'm from.
In 2021, Eastern Caribbean fossil fuel imports averaged over $440 million every year.
That's over 15 percent of imports and 17 percent of the trade balance.
At the same time, COP 31 negotiations have made progress on key issues such as adaptation indicators and the just transition mechanism.
Finance is essential for countries to bank the vast benefits of the energy transition and build resilience.
Developed countries must honor their commitments to triple adaptation finance and deliver $300 billion per year by 2035 as part of a clear pathway to scaling up to $1.3 trillion a year.
And multilateral development banks have been called on to step up.
Credit enhancement and guarantees deliver serious bang for buck in crowding in private capital, particularly in developed countries where perceived risk increases costs.
Countries also need systemic support, not just project-by-project financing, including to strengthen grids, improve policies and regulation, and build a pipeline of bankable projects.
Multilateral development banks are ideally placed to help with concessional finance, guarantees, and policy-based lending.
I urge MDBs to embrace this role.
And here at the United Nations, we must reflect the fact that climate underpins almost every sustainable development goal and cuts across peace, security, and more.
The UNAIDS process is getting the UN system to work more collectively.
That brings together our climate, conflict, and development work.
And the General Assembly should embed climate, climate finance, and the energy transition across its work on development, security, and economic resilience.
So, colleagues, as the realities of fossil fuel dependency play out in real time, it is increasingly clear that faster energy transitions are core business for governments and core to national security strategies, that doubling down on renewables and resilience is in every country's interest, and that action now is the basis of long-term peace and security around the world.
So together, let's move forward.
I thank you.
I thank the Executive Secretary of the United Nations Framework Convention on Climate.
I now give the floor to Mr.
Francesco La Cammera, Director General of the International Renewable Energy Agency.
Please, Francesco.
So, Excellencies.
Distinguished delegates, ladies and gentlemen.
Buongiorno.
Good morning, everyone.
I extend my gratitude to Excellencies Ms.
Annalena Baerbock, President of the General Assembly, for her leadership in convening today's dialogue.
Before I begin my address on accelerating the global energy transition, I'd like to first tell you a story.
For over two centuries, energy has followed the same script.
A resource is discovered, it is then extracted, refined, shipped it, and burning to the air.
Whoever controlled the energy resource and the market had controlled the term of everyone else's development.
That was the story of coal during the Industrial Revolution, and it was the story of oil and gas as economies modernized.
Fossil fuels have historically shaped geopolitics, global alliances, and the fortune of nations that control the resource against the misfortune of nations that did not.
That energy story has ended.
Under the new energy story, renewables are shaping economic growth, industrial competitiveness, and prosperous livelihoods for the benefit of every nation.
IRENA data showed that 2025 saw the largest increase in renewable energy capacity to date, with the addition of 792 gigawatts of renewable capacity worldwide.
For giving a sense of this number, this means two times the capacity of nuclear that has been installed in 70 years.
And if we can also take attention to the energy efficiency, the efficiency will be in one year, we have been installed the total of all nuclear capacity in 70 years.
By the end of 2025, renewables made up to 49 percent of global installed power capacity.
More than 90 percent of new utility-scale renewables projects in 2025 deliver power at lower cost than the cheapest new fossil fuel plant built in the same market.
Since 2010, solar PV costs have fallen 89 percent on show, win by 71 percent, and four-hour battery storage by 95 percent.
Last year's renewables helped avoid an estimated $408 billion of US dollars in fossil fuel costs.
Moreover, firm renewables, which combine solar or wind with battery storage, are providing 24/7, round the clock, cheaper power than new gas.
This is the proof that reability is not holding us back.
Energy security today is no longer about controlling resources.
It's about controlling exposure.
And today, dependence on fossil fuels remains one of the greatest vulnerabilities in the global economy.
This is just what we see every day.
The ongoing energy crisis is a prominent example that only accelerated the demand for renewables.
Markets worldwide are deploying renewables at a record pace because the cost-keeping failing at the resource itself carries no strategic interest, agenda, or ideology in its own.
I remember in this same room, it was eight years ago, there were agencies that confusing the monetary and the real value of the cost of energy were saying that renewables were going to slow it down.
And I remember that day, I say one word now many are repeating.
I say that the energy transition is simply unstoppable.
And this will remain in this room and go further out of this.
The sun does not charge per days of sunlight.
The wind does not have a cartel.
Geography no longer decides who has power.
Policy now matters more than geology.
For the first time in the history of industrial civilization, the cheapest way to generate new power is also the cleanest and is available to every member state in the world in some capacity.
If it is the case, the question we must ask ourselves is why the energy transition is not moving with greater speed and scale globally.
To do so, regional disparities in deployment must be addressed.
Asia, Europe, and North America collectively hold 85 percent of the world's installed renewable capacity.
Africa, a vast continent with an even greater pool of renewables-friendly natural resources than anywhere else on the planet, holds just 2 percent.
If the energy transition simply copies the old format of a few regional groups having power, then we will have just modernized the technology and left the inequality gap exactly where we found it.
655 million people still live without electricity, with Sub-Saharan Africa impacted most.
Two billion people still rely on polluting fuels and technologies with harmful health and environmental impacts.
Access to financing is crucial to close this gap on LDCs, landlocked LDCs, seeds, and underserved regions.
Concessional finance, the risk instrument, a greater international collaboration are the architecture on which the renewable-based energy transition depends on.
There is also a second gap, and this one is measured as a race against time.
The world agreed at COP 28 to triple installed renewable capacity and double energy efficiency by 2030, as mandated under the UAE consensus.
IRENA is tasked as a sole custodian agency to monitor this goal.
We currently have 5.15 terawatts of total global renewable capacity installed today.
We require to reach 11.2 terawatts by the end of this decade.
That installed capacity gap over six terawatts must be closed within the next five years to keep emission within the limits of 1.5 Celsius.
In simple terms, we are moving fast in the right direction, reaching a tipping point that makes this transition unstoppable and irreversible.
But we are not yet moving at the speed and scale that the Paris Agreement requires.
And the consequences of the gap are unimaginable for people and the planet.
And even as renewable broke records last year, the world also had nearly twice as much non-renewable capacity as the year before, much of it being coal.
So, ladies and gentlemen, we are living in a world facing multiple overlapping crises: geopolitical tension, economic pressures, widening inequalities, and the three great planetary crises of climate change, biodiversity loss, and pollution.
Our misplaced commitment to fossil fuel is only making these issues even more damaging in the long run.
Fossil fuels and east industry incentives are only creating liabilities, cause, and continue dependence while renewables are building asset, competitiveness, sustainability, stability, and energy security.
Renewables are also the only route to electrification.
The revolutionary shift that will define whether the century's growth is powered sustainably and equitably.
Electrification is how to deliver access.
Decentralized renewables and mini-grids are now reaching close to 450 million people, increasing 60 more million in a single year.
Electrification is how we absorb the next wave of global energy demand across transport, building, and industry: electric vehicles, data centers, artificial intelligence.
They are not future demand drivers; they are now, and they are growing fast.
The future economy will be overwhelming electric.
The question is whether that electricity will come from fossil fuels or renewables.
Our task is to ensure it is powered by renewable energy, but to do so we need to enabling infrastructure to absorb the exploding energy demand.
We require over 1 trillion US dollar of investment in grids and power system flexibility solutions each year till 2030 to stay on track towards our goal of tripling renewable capacity globally by 2030.
Without these investments, connection accuse grow, cartelment rise, and clean edges requested even in the middle of a global crisis.
Today, China and developed economies in Europe and North America receive up to 15 times more investment per capita than least developed economies and regions such as Sub-Saharan Africa.
We must build enabling infrastructure, leverage global partnership, and unlock accessible financing for everyone.
On that note, Arena is honored to collaborate with the COP 30 presidents of Brazil that asked us, the president of COP 30, Ambassador Delago, for work on an implementation roadmap for transitioning away from fossil fuels, and we are working closely with our friends of COP 31 of Turkey presidency on accelerating global electrification efforts.
At the upcoming New York Climate Week, held on the margin of the next UN General Assembly, Arena will partner with the COP 31 presidency to deliver a dedicated electrification day where we also launch and present the third edition of our flagship delivering on the UE consensus tracking report.
True renewables country can no longer to held hostage to a price set on the other side of the world.
Through renewables, finance minister can finally build budget without guessing what a barrel of oil will cost 12 month from now.
Through renewables, a young graduate can build a career in an industry that is growing, not one that is already being negotiated into decline.
Through renewables, economic growth and carbon emissions can finally stop moving in the same direction.
So, excellencies, I'm expect I'm spend large part of my career at the intersection of energy and diplomacy, and I have learned that the hardest part on any transition is never technology.
It is the story we tell ourself about who has to lose for someone else to win.
The extra rate thing about this moment is that renewables do not require that sacrifice.
Renewables are the best deal in history.
Everyone wins, and no one regrets.
The old story of energy was written on by geography or by the capacity to control the oil and gas markets.
The new story of energy is written by ambition and will with country choosing renewables and refusing to let their future to decide for them.
And on this, I want to spend the last comment on one aspect, because I have we have been as Arena, you know, we promote renewables, but we promote renewables not by opinion.
We promote renewables by data.
And we know that renewables today is the the most effective and cost efficiency way to produce electricity.
And also very important to note that is the only technologies that we can deploy in time to deliver the electricity that we need to be in line with the achievement of the Paris Agreement goals.
There are not other options on the ground.
When we talk about the small nuclear reactor that now many are talking about this, I suggest you to go to one of the the research on the web and type Darlington small nuclear reactor to understand how small they are.
They go under the level of the soil 38 meters and go up the soil other 38 meters.
They occupy more than one or two football fields.
How dare we can call them small? But the most important thing, they are producing electricity and a much higher cost of renewables, and also the technology.
If you look how many country can enrich uranium in the world, you would discover that no more than six can do it.
So how we can ensure inclusiveness, fairness, reduce inequality if you go to a world where a few may have the technology and nowhere at all they have it.
And this my last comment on the what to ensure that Arena stand ready, and it is this from when it's found, and for as long as this assembly requires to help every member state write the next chapter of the global energy story, one defined not by scarcity and dependence, but by opportunity, resilience, and shared prosperity.
Grazie.
Thank you.
Grazie.
I thank the Director General of the International Renewable Energy Agency.
I now give the floor to Mr.
Salwin Hart, Assistant Secretary-General and Special Advisor to the Secretary-General on Climate Action and Just Transition.
Please.
Thank you, Madam President, and good morning to you.
It's a pleasure to join this this convening.
And I also want to thank you, Madam President, for convening this meeting at this moment, but also for your decades-long service not only to Germany and to Europe, but also the world, including your role leading up and in at at COP 28, where you played a really historic role in securing the UAE consensus, which, in my view, was one of the most consequential outcomes in the UNFCCC process.
So you deserve to be recognized and honored for helping to drive this agenda, as you said, at a time when it was hugely unpopular to do so.
Excellencies, 10 years after the adoption of the Paris Agreement, one fact is unmistakable.
The renewable energy revolution is unstoppable and irreversible.
The question before us is no longer whether the transition will happen.
The question is whether it will happen fast enough, fairly enough, and whether every country will have an opportunity to benefit.
Four defining realities should shape our response.
The first reality is that the climate crisis is accelerating.
Around the world, we are witnessing record-breaking heat, devastating floods, prolonged droughts, stronger storms, and rising sea levels.
Science warns that a temporary overshoot of the 1.5-degree goal is now inevitable, and this must inject a much greater sense of urgency.
So we must accelerate the transition away from fossil fuels towards renewables at unprecedented speed and scale if we are to limit the magnitude and duration of overshoot and protect people from the worst impacts of the climate crisis.
The climate crisis is accelerating.
The renewable energy transition must accelerate even faster.
The second reality is that while renewable the renewable energy revolution is accelerating, its benefits remain deeply unequal.
The pace of change is extraordinary and unprecedented, and Francesco highlighted a number of really important statistics.
It took the world 20 years to install the first 1,000 gigawatts of solar capacity.
The second 1,000 gigawatts took just five just three years, sorry.
The third will take only two, and I'm confident that the fourth will take just a few months.
Battery storage, a technology key for ensuring the reliability of renewable energy systems, is following a similar trajectory.
Last year alone, the world deployed almost 110 gigawatts of new storage capacity, 40% more than the previous year and 11 times more than in 2021, just four years earlier.
Taken together, these trends signal the transformation of entire energy systems as the technologies to build reliable, affordable, and secure power systems are now scaling simultaneously.
The economics of clean energy has also fundamentally changed.
This year, global investment in clean energy is expected to reach 2.3 trillion, almost twice the amount invested in fossil fuels.
And last year, renewables accounted for almost 90% of all new electricity generation capacity.
Yet the benefits of the revolution remain deeply unequal.
Around four out of every five dollars invested in clean energy continue to flow to the advanced economies in China.
Emerging markets and developing countries outside China, home to nearly two-thirds of the world's population, receive just one out of every five dollars invested in clean energy.
Of course, this is not China's fault.
China is definitely moving in the right direction.
Africa, despite possessing 60% of the world's best solar resources, receives only 2% of global clean energy investment, and 600 million Africans still lack access to electricity.
The renewable energy revolution is accelerating, but it remains highly concentrated.
The third reality is that fossil fuel dependency has become an economic, fiscal, and national security liability.
Three out of every four persons on this planet live in countries that are net importers of fossil fuels, from the world's largest economies to its smallest and most vulnerable member states.
These countries have one thing in common.
They all pay the price of dependency on imported fossil fuels.
They're also exposed to geopolitical shocks they have no control over.
That shared vulnerability should become the basis for far stronger international cooperation to accelerate a transition that is faster, fair, and better financed.
Renewables offer a different future, resilience, competitiveness, and energy independence.
And as the Secretary-General has often said, there are no embargoes on sunshines and no price spikes on wind.
Energy security in the 21st century will not be built on fossil fuels.
It will be built on freedom from them.
The fourth reality is that the global financial system is not fit for purpose in the age of the renewable energy revolution.
It is failing to direct affordable finance to where future energy demand, renewable energy potential, and development opportunities are greatest.
Today, developing countries often face financing costs two to three times higher than advanced economies for the very same renewable energy projects.
In many cases, financing costs account for half or more of the lifetime cost of a renewable energy project in a developing country.
This is the signal single most important challenge, the cost of capital.
We have a system that channels affordable finance to countries that already have it while making it significantly more expensive for developing countries to invest in the clean energy transition.
For many developing countries, this challenge is compounded by rising debt burdens and scarce public resources that should be financing renewable energy, climate resilient infrastructure, and economic transformation are instead devoted to debt service.
The world cannot expect developing countries to compete on terms on equal terms while asking them to finance the same transition at two or three times the cost.
Excellencies, these four realities point to one unavoidable conclusion.
The next phase of the energy transition must be about leveling the playing field.
The success of the global energy transition will ultimately ultimately depend on whether every country, not just the wealthiest, can compete, invest, and prosper in the clean energy economy.
And this is not about charity.
It is about fairness.
It is about creating the conditions for every country to succeed.
Achieving that goal requires action on multiple fronts.
Reforming the international financial architecture, reducing the cost of capital, addressing debt vulnerabilities.
Shareholders must equip the multilateral development banks with the firepower they need to take greater risk, mobilize private investment at scale, and expand access to affordable finance for developing countries.
We must also ensure that the climate funds are fully replenished and strategically deployed to de-risk investments, crowd in private capital, and accelerate implementation where the barriers are greatest.
We must invest in modern grids, storage, and transmission infrastructure.
And we must keep trade open, resilient, and predictable so that clean energy technologies can be deployed rapidly and affordably across the world.
And we must ensure that the critical energy transition minerals become a catalyst for industrialization, value addition, decent jobs, and economic transformation in developing countries.
And we must also ensure that the transition is truly just, supporting workers and communities through change, investing in new skills, creating decent jobs, and ensuring the that no one is left behind.
And above all, we must build this transition together.
International cooperation must now relentlessly focus on removing the barriers that stand in the way of progress.
Unlocking finance, learn the cost of capital, strengthening trade and supply chains, modernizing and expanding grids and storage, accelerating technology deployment, and ensuring that every country can compete and prosper in the clean energy economy.
This is where the United Nations has a unique role to play.
We must convene, connect, capitalize action, and support implementation where the need is greatest.
And we have a solid basis on which to build on.
For example, the Climate Promise led by UNDP and DCO supported well over 100 countries in preparing their nationally determined contributions.
Excellencies, the challenges before us despite the challenges before us, the world has never been better equipped to accelerate the renewable energy revolution.
The technologies are proven.
The economics are increasingly compelling.
Investment continues to grow, and a strategic case for reducing dependence on fossil fuels have has never been greater.
Yes, the political headwinds are real, but the economic and technological tailwinds behind the renewable energy revolution are much stronger.
And some will continue to argue that our energy security lies in producing and consuming more fossil fuels.
They are wrong.
That is not energy security.
It's a recipe for greater insecurity, greater volatility, and greater climate risk.
The renewable energy economy offers something much better.
It is also one of the greatest economic opportunities of our time.
Trillions of dollars will be invested over the coming decades to build the industries, infrastructure, and energy systems of the future.
Our responsibility now, our collective responsibility, is to ensure that every country and every community has a fair opportunity to attract those investments, build the industries of the future, and share in the prosperity they will create.
I thank you.
I thank the Assistant Secretary-General and Special Advisor to the Secretary-General on Climate Action and Trust Transitions, also for your kind words.
Thank you very much.
I now invite you, dear colleagues, your excellencies, to share with us specifically the points where we would say, this is where we really have to increase our cooperation.
This is where we can do better as a General Assembly here in the headquarters.
This is where we need support, but also this is what others can learn from our cooperation and being better together on the ground between the different UN entities, but also between the different stakeholders, private sector, civil society, and government's action.
As indicated in the journal, there's no pre-established list of speakers for this meeting.
Delegations wishing to take the floor are invited to press their microphone button.
Now, I wish to remind delegation that as announced in my letter dated July 7th, speaking time during this informal meeting shall be limited to three minutes for delegations speaking in their national capacity and five minutes for statements made on behalf of a group of states.
Delegations speaking on behalf of a groups are invited to approach the list of speakers table and will be given priority.
To assist delegations in managing their time, a countdown clock will be displayed on screen.
Please be advised that these time limits will be strictly enforced, including through the use of an automatic microphone cutoff when the allotted time has expired.
I thank you for your cooperation.
As the first speaker, I now give the floor to the Distinguished Representative of Paul Lao on behalf of the Alliance of Small Island States, followed by the European Union and Australia.
Madam President, I have the honor to deliver this statement on behalf of the Alliance of Small Island States.
At the outset, I thank you for convening this important dialogue on accelerating the global energy transition.
The science is inequivocal.
Global warming is accelerating because mitigation action has been delayed and remains insufficient.
The world is now projected to overshoot 1.5 in the 2030s, increasing the risk of irreversible loss and damage and threatening the human rights, livelihoods, cultures, and ways of life of our people.
Accelerating the global energy transition is therefore essential to limit both the magnitude and duration of any overshoot and to return warming to well below 1.5 by the end of the century, consistent with the Paris Agreement.
The international community has already agreed on the roadmap.
The outcome of the first global stocktake under the Paris Agreement provides a clear package of actions for the energy sector, including tripling global renewable energy capacity, doubling the global rate of energy efficiency improvements by 2030, and rapidly reducing methane and other non-CO2 emissions.
Our focus must now be on implementing this commitment in full.
This implementation should be reflected in ambitious 1.5 aligned NDCs.
In this regard, we must continue to build political momentum behind both their submissions and implementation.
This remains core unfinished business under the Paris Agreement and cannot become a forgotten promise.
Small island developing states are demonstrating leadership.
30 states have already submitted new NDCs, and many more are strengthening theirs.
Across our regions, renewable energy deployment and the electrification of transport are central pillars of of our mitigation strategies.
We are committed to doing our part to deliver the global energy transition and to keeping 1.5 within reach.
However, ambition alone will not advance the transition.
Most states' commitments remain conditional on the provision of finance and the means of implementation.
Limited fiscal space, high capital cost, small markets, and the absence of economies of scale continue to slow deployment of renewable energy and progress on energy efficiency.
Climate finance must therefore be elevated as a central enabler of the energy transition alongside reforms that improve access to finance and provide instruments that do not exacerbate debt vulnerabilities.
International cooperation must also help overcome the unique barriers facing states, including through support for energy system planning, regional and bulk procurement initiatives, and greater accessibility and affordability of renewable energy, battery storage, and energy efficiency technologies.
This is precisely the kind of just and equitable transition envisaged under the outcomes of the first global stocktake.
Today, renewable energy technologies are more affordable than ever before.
We have the technologies and we have the agreed global framework.
What remains is the political will and the finance to implement them at the speed and scale that science demands.
Madam President, for states, the global energy transition is inseparable from the climate agenda.
Success will be measured not only in energy security, but lives protected, communities preserved, culture sustained, and the continued ways of life of our people.
Let us rise to the urgency of this moment to accelerate the global energy transition and keep 1.5 within reach for our people, our planet, and our future generations.
Thank you.
I thank the Distinguished Representative of Paul Lao on behalf of states.
I now give the floor to the Distinguished Representative of the European Union on behalf of the EU and its member states.
President of the General Assembly, Excellencies, colleagues, I have the honor to deliver this statement on behalf of the EU and its member states.
We meet at a defining moment for the global energy transition.
Ten years after the Paris Agreement entered into force, the world has made important progress, but it remains far from the pace and scale required to keep 1.5 Celsius within reach.
This challenge before us is clear.
To turn commitment into implementation, the UAE consensus set out a shared direction to triple global renewable energy capacity, double energy efficiency by 2030, and transition away from fossil fuels in energy systems in a just, orderly, and equitable manner.
Our collective task now is to deliver.
In this effort, the European Union is playing a leading role at home with partners and in multilateral cooperation.
Within the European Union, the energy transition is being advanced through ambitious climate and energy legislation, large-scale deployment of renewable energy, stronger energy efficiency measures, and investment in grids, storage, and innovation.
The US has demonstrated that climate action, competitiveness, and energy security can and must go hand in hand.
The recent energy crisis only reinforced this lesson.
It exposed the vulnerabilities of the fossil fuel dependence.
While accelerating efforts across Europe to diversify energy sources, reduce demand, and scale up clean domestically produced energy.
But Europe's responsibility does not stop at its own borders.
If we are serious about energy transition, we must do more to support partner countries, especially in Africa and in fragile contexts.
At the London Climate Action Week, the EU joined forces with COP 31 and COP 32 presidencies and other partner countries to expand electrification and reduce methane emissions.
Through Global Gateway, the EU supports sustainable, high-quality, and trusted investments that connect energy with transport, digital, health, education, water, jobs, and local value creation.
By investing in clean energy alongside grids, storage, connectivity, skills, governance, and resilient local systems, we aim to maximize positive spillovers for communities, strengthen reliance, and ensure that the green transition also supports poverty reduction, gender equality, climate action, and sustainable growth.
The European Union stands ready to continue working with all partners to accelerate progress.
Let this dialogue help move us from intention to implementation, from fragmented efforts to stronger cooperation, and from uneven progress to shared momentum.
Thank you.
I thank the Distinguished Representative of the European Union on behalf of the EU and its member states.
I now give the floor to the Distinguished Representative of Australia on behalf of the MICDA group, followed by Mexico and Indonesia.
President, I have the honor to deliver this statement on behalf of the MICDA countries: Mexico, Indonesia, Republic of Korea, Turkey, and Australia.
MICDA countries are united in our strong commitment to the goals of the Paris Agreement a decade after its entry into force.
We note with concern worsening climate change impacts across the globe and reaffirm the urgent need to keep 1.5 degrees within reach through nationally determined pathways that support just, orderly, and equitable transitions.
We acknowledge the importance of clean energy for the resilience of countries in Southeast Asia and the Pacific, as well as the Mediterranean.
We will work together to strengthen regional energy security, including through advancing the energy transition.
Recent global energy shocks have reinforced the urgency of accelerating the clean energy transition, which is enhancing energy security, affordability, reliability, and resilience.
We must continue to work together to strengthen energy supply chain resilience, including by deepening cooperation and accelerating the transition to clean, affordable, and reliable energy.
Clean energy and electrification, supported by adequate investment, technology, infrastructure, and capacity building, and rules-based trade, is proven and cost-effective, delivering emissions reductions while supporting economic growth, jobs, and industrial development.
We underline the importance of implementing these commitments through strengthened international cooperation, capacity building, and enhanced access to climate finance.
MICDA countries remain committed to our net zero emissions targets, strengthening the multilateral system, and promoting investment in clean and renewable energy industries, as recently reaffirmed in our respective NDCs under the Paris Agreement.
We encourage all countries who have not yet done so to submit NDCs, national adaptation plans, and biannual transparency reports in 2026 to allow Paris Agreement parties to share lessons learned, identify gaps, mobilize support, showcase their progress to date, and highlight investment opportunities for the transition.
Just and inclusive energy transitions are a priority for MICDA.
They are crucial to achieving orderly energy transitions in pursuit of the goals of the Paris Agreement, while supporting those facing the disproportionate effects of climate change and the energy crisis, particularly in developing countries and vulnerable groups.
This grouping is committed to delivering practical, balanced, and ambitious outcomes which advance global climate action on all fronts at COP 31.
In particular, Turkey as the President of the COP 31 and Australia as COP 31 President of Negotiations are working closely together to support an inclusive, transparent, and predictable process that promotes dialogue, builds consensus, and advances implementation in the lead-up to COP 31.
Australia is also working with Pacific Island countries to deliver the Pre-COP and Leaders event in Fiji and Tuvalu.
Our innovative and unique partnership demonstrates a united purpose to tackle the shared challenge of climate change and keep 1.5 degrees within reach.
The urgency of climate action needed in this decisive decade demands dialogue and consensus, and it demands concrete action to advance renewables and energy efficiency, to mobilize investment and climate financing, and to facilitate capacity building.
We reiterate our calls for global collaboration to accelerate energy transitions, including electrification enabled by grids, energy storage, and investment in renewable energy, ensuring energy security, affordability, reliability, and resilience.
We look forward to advancing these issues at Pre-COP, COP 31, and beyond.
Thank you.
I thank the Distinguished Representative of Australia on behalf of the MICDA group, and this is a session of learning from each other.
So we learned also, even though I just Googled and it's already from 2013, but MICDA group.
But so Mexico and Indonesia, the countries I just mentioned, part of the group: Mexico, Indonesia, Republic of Korea, Turkey, and Australia.
So the next speaker is not Mexico, but France, followed by Morocco and Brazil.
And thank you for the important input.
Madame la Prés— Madame President, Excellencies, France would like to thank you for organizing this dialogue at an important moment.
Ten years after the entry into force of the Paris Agreement, we are able to measure progress so far: investments in renewable technologies are now a lot higher than what is invested in fossil fuels.
But this progress is not yet enough, given the emergency.
We aren't yet on a emissions trajectory that is compatible with keeping global warming below 1.5 degrees Celsius.
The first global stocktake of the Paris Agreement, adopted at COP 28, set out a clear roadmap: we need to triple global capacity for renewable energy, double the speed of energy efficiency gains by 2030, and start a transition away from fossil fuels to achieve net zero in 2050.
To achieve this, there are 3 key priorities.
Firstly, accelerating investments in electricity grids, storage, energy efficiency, and the necessary infrastructure for clean electricity.
Because without modern and resilient grids, capacities for renewable energy and other carbon-neutral energies, such as nuclear energy, will not be deployable.
Secondly, bridging the funding deficit for developing countries.
We need to leverage all available financial resources, mobilizing more national financing, strengthening the role of multilateral development banks, and creating an environment that encourages private investment.
Thirdly, making the energy transition a tool for development, energy security, and shared prosperity.
Renewable energy will reduce the dependence on fossil fuels, will strengthen resilience to geopolitical crises, and will also create sustainable jobs.
France is fully committed to this effort.
We are indeed continuing to implement our third national energy transition strategy.
This was launched on 15 July.
And we also are supporting our partners, particularly via partnerships for just energy transitions.
As we approach COP 31 in Türkiye, we call on member states to present ambitious, credible NDCs that are fully in line with the 1.5 degrees C goal.
And here, I wish to recall the importance of using the best available scientific data.
For example, what's provided by the IPCC.
The energy transition is not only a climate necessity— the speaker's microphone has been cut off.
I thank the distinguished representative of France.
As we have now members speaking on behalf of the national capacity, the speaking time is 3 minutes.
You will see it on screen.
I now give the floor to the distinguished representative of Morocco, followed by Brazil and India.
Thank you, President.
My delegation would like to express its gratitude to you for convening this timely and relevant dialogue.
In this connection, Morocco would like to make 3 points.
Firstly, the current energy context means that we should accelerate the transition rather than slowing it down.
Clean energy that is affordable is now a pillar for resilience, energy security, and economic sovereignty.
When faced with the vulnerabilities that were shown by the dependency on fossil fuels, this has led His Majesty the King of Morocco to put the energy transition at the heart of his development strategy.
At the end of 2024, renewable energy was more than 45% of our electricity capacity, which means that we're on track to go beyond our goal of 52% by 2030.
And we have a lot of projects on wind energy and investments in green hydro energy and renewable energy more broadly.
Secondly, this technology needs to have solid institutions behind it, as well as credible funding.
Morocco has strengthened its regulatory framework to foster private investment and integrate renewable energy into the grid.
We have a new climate finance strategy for 2030, and our green taxonomy will also strengthen transparency and reduce the risk of laundering— of greenwashing.
Thirdly, we need access to financing to pay particular attention to adaptation.
Africa, unfortunately, only has 2% of global investments in clean energy, whereas we have 60% of the solar capacity.
So the high cost of capital means that there is insufficient access to concessional financing, and this is undermining the deployment of renewable energy still.
COP 31 should make financial pledges more concrete, particularly the roadmap towards $1.5 trillion, and it should also make the market's mechanisms more operational and attract necessary investment for national contributions.
Multilateral banks should drive and attract private capital in local currency.
And climate funds should simplify the procedures and accelerate the payments that they make.
We remain, Madame President, completely committed to climate action, as His Majesty the King highlighted at COP 28, and it is urgent to go beyond simply taking small steps.
But we need to show goodwill and an enlightened vision.
This vision should guide us towards COP 31 that is an ambitious COP.
Thank you very much, indeed.
I thank the distinguished representative of Morocco.
I now give the floor to the distinguished representative of Brazil.
Thank you, Excellencies— well, Madame President, Excellencies, colleagues.
I thank the PJ for organizing this debate.
I must start by expressing Brazil's concern with narratives that seek to downplay the need to accelerate the renewable energy transition.
The energy sector remains responsible for approximately 80% of global greenhouse gas emissions, and the growing global demand for electricity must be met with sustainable and affordable energy.
Multilateralism and international cooperation are essential to advancing a just, orderly, and equitable energy transition.
The UN, through its universal membership, legitimacy, and convening power, remains the cornerstone of international cooperation and an indispensable forum for dialogue and collective action.
This shift in paradigm presents challenges, but also significant opportunities.
Recent developments in the Middle East and the resulting volatility in energy markets confirm a fundamental truth: energy transition is also energy security.
Excessive dependence on limited sources, technologies, or suppliers increases vulnerability to geopolitical tensions.
Diversification, resilience, and sustainability are therefore strategic imperatives, not only climate objectives.
Moving away from fossil fuels requires building low-carbon, resilient energy sources.
Electrification powered by renewables is the principal pathway for power, transport, and buildings, but cannot reach every sector.
Aviation, shipping, long-distance transport, and heavy industry will depend on sustainable fuel alternatives for some time.
Brazil's experience illustrates this connection.
Since the 1973 oil crisis, sustained investment in biofuels has diversified our energy matrix, strengthening energy security while advancing emissions reductions, innovation, rural development, and green jobs.
More recently, wind and solar expansion has brought renewables to about 85— I'm sorry, 50%— of Brazil's energy mix, with electricity generation close to 90% renewable, proving that decarbonization and security are mutually reinforcing and compatible with growth and competitiveness.
Naturally, transition pathways will differ across countries, reflecting national circumstances and priorities.
In all cases, however, international cooperation is indispensable.
Colleagues, the energy transition is not a burden, but an opportunity for more resilient, competitive, and sustainable economies.
I thank you.
I thank the distinguished representative of Brazil.
I now give the floor to the distinguished representative of India, followed by the United Kingdom and Cuba.
Madame President, India appreciates the convening of this dialogue as we mark 10 years since the entry into force of the Paris Agreement.
The challenge is to ensure that the energy transition will be equitable, just, inclusive, and supportive of sustainable development.
We would like to make the following points.
First, climate ambition and sustainable development must advance together.
Guided by the principles of equity and CBDRRC, countries must retain the policy space to pursue nationally determined pathways that respond to their development priorities while contributing to global climate action.
Second, these pathways must contend with contemporary realities, creating an artificial hierarchy among fossil fuels and demonizing coal while extolling natural gas, as the only viable transition fuel is not a feasible option.
The ongoing conflict in the Middle East has exposed deep structural, geopolitical, and supply chain constraints that obviate entirely relying on LNG for this purpose, especially for Asia that does not have pipeline supplies.
Global South has to rely on energy sources that are domestically available, are affordable, and accessible through global supply chains that do not shut due to structural or geopolitical reasons.
Third, access to technology is vital while pursuing our ambitious climate targets.
India is investing in coal gasification and green hydrogen alongside carbon capture, utilization, and storage.
India has set itself an ambitious target of 500 gigawatts of installed non-fossil electricity capacity by 2030, and solar energy is expected to contribute a large share in this target.
As of last month, India has already installed over 162 gigawatts of solar capacity, making it one of the world's largest solar markets.
Developed countries must fulfill their commitments on the provision of finance, technology development, and transfer, and capacity building.
Fourth, energy transition must remain fair and inclusive.
Unilateral measures such as carbon border adjustment mechanisms that transfer the cost of decarbonization to developing countries or serve as disguised restrictions on international trade make no sense in today's context of supply chain, tariff, and other trade-related uncertainties, with the WTO rules-based trade regime in dysfunction.
Fifth, the General Assembly should complement and not duplicate the work undertaken under the UNFCCC and its Paris Agreement.
Climate negotiations are conducted by parties in the dedicated intergovernmental processes established under UNFCCC, where the principles of equity and CBDRRC are firmly embedded.
Discussions in the General Assembly should therefore focus on facilitating implementation, promoting international cooperation, sharing best practices, and supporting capacity building while respecting the mandates, processes, and outcomes of the UNFCCC, and avoiding the creation of parallel negotiating tracks or reinterpretation of agreed commitments.
I thank you.
I thank the distinguished representative of India.
I now give the floor to the distinguished representative of the United Kingdom.
Thank you, President, Excellencies, colleagues.
We meet at a decisive moment.
As we've heard today, the global energy transition is no longer a question of whether change is coming.
The question is whether we can build quickly enough, to invest wisely enough, and to work together effectively enough to ensure that change delivers for our people.
At COP 28, we agreed to triple global renewable energy capacity, to double the rate of energy efficiency improvement, and transition away from fossil fuels in energy systems in a just, orderly, and equitable manner.
At COP 31 in Antalya, our task is clear: to turn that consensus into implementation.
Clean energy investment is set to reach $2.2 trillion this year.
That's a significant opportunity.
But we must ensure that investment reaches the countries that need it most, helping to lower costs, to expand access to clean power, and unlock sustainable growth.
This is not only a climate agenda.
Recent energy shocks have exposed the economic and security risks that come with dependence on volatile fossil fuel markets.
Clean power, greater efficiency, and electrification can strengthen energy security.
It can improve affordability and support jobs, growth, and resilience.
Through the Global Clean Power Alliance, the Green Grids Initiative, Just Energy Transition Partnership, and Mission 300, the United Kingdom is working with partners to mobilize finance to strengthen grids and storage, and to turn clean power ambitions into scalable, investable projects.
Our focus is practical.
It's about removing barriers to delivery and translating commitments into results that people can see, that people can feel: more reliable energy, stronger economies, greater resilience, and enhanced energy security.
So the choice isn't between climate action, growth, and security.
Done well, clean energy is one of the clearest pathways to all three.
I thank you.
I thank the distinguished representative of the United Kingdom.
I now give the floor to the distinguished representative of Cuba, followed by Ecuador and Estonia.
Madame President, Cuba thanks you for convening this interactive dialogue, which is coming at a very timely moment.
The transition to renewable sources of energy and increase in energy efficiency are essential in order to tackle climate change and achieve sustainable development.
However, in order for this transition to be a truly just one, it must be grounded in the principles of equity, common but differentiated responsibilities, and respective capacities, as well as the full respect for the national priorities and circumstances of developing countries.
We can't talk about a global energy transition if we don't address the profound inequalities that persist in access to energy, financing, technology, and the capacity required to undertake this transition.
This is why Cuba reiterates the need to strengthen international cooperation and to ensure adequate, predictable, and sustainable access to concessional financing, as well as to technology and capacities.
The energy transition must not become a new area of exclusion, nor must it widen existing gaps between developed and developing countries.
In this context, it's essential to condemn unilateral coercive measures which block sustainable development and the energy transition of developing countries, such as the United States' embargo against Cuba, which is one of the most brutal manifestations of this, that prevent Cuba's access to fuel and essential supplies, with direct consequences for our economy and to the daily lives of our people.
These extraterritorial measures also affect third countries and companies that want to cooperate with Cuba.
They block investment projects and cooperation projects precisely in the area of renewable energies.
Despite these adversities, Cuba maintains its commitment to the energy transition and to developing renewable sources of energy, and we are advancing here by adopting cooperation projects and progressively broadening our participation, the participation of renewable energy in the national energy mix.
The energy transition will only be truly global if it's just, inclusive, and it has solidarity.
Cuba will continue to defend a more equitable international order where no country is deprived of their right to development and where cooperation can prevail over coercion.
Thank you very much.
I thank the distinguished representative of Cuba.
I now give the floor to the distinguished representative of Ecuador.
Thank you, Madame President.
As long as climate financing gaps persist and as long as developing countries lack timely access to sufficient, predictable, and accessible resources, the energy transition will remain a pipe dream.
Increasing financing must be a priority because a lack of financing is not due to a lack of resources, but due to fragmentation, as you mentioned, Madame President.
Ecuador has shown that innovative instruments that generate concrete results for the conservation of nature and the protection of biodiversity and resilience to climate change are not sufficiently supported by the international community.
And I'll just simply mention two examples, two successful experiences in the implementation of innovative financing mechanisms for climate action in Ecuador and for the energy transition, and you also mentioned these two, and thank you for mentioning that.
In 2023, we delivered the biggest debt swap that we've seen in nature conservation that enabled us to channel resources to the Galápagos Life Fund for financing marine conservation actions.
This operation saw approximately $1.6 billion of existing debt swapped for a new loan of $656 million to finance conservation initiatives, marine conservation initiatives over the next 18 years.
And this operation is a long-term one and is an example of a commitment to the country to conserving two marine ecosystems of global importance: the Galápagos Marine Reserve and the Hermandad Marine Reserve.
Then, in December 2024, we delivered a new debt conversion that saw a saving of $800 million, of which $460 million were devoted to conserving the Ecuadorian Amazon through the Amazon Bio Corridor Program.
Recently, a new step of this program was started with the process to build the Amazon Bio Corridor Conservation Plan, an instrument that will focus the actions required to achieve the commitments made to conserve these unique ecosystems.
They're unique in the whole world.
Madame President, distinguished colleagues, these experiences show that it is possible to work towards a sustainable energy transition.
Ecuador reiterates its commitment, and we reiterate why adequate financing is required.
We have engaged in these actions in our national government that show that we can move from words to practice.
Thank you very much, Madame President.
Gracias, also for sharing in such detail.
And this is in a formal setting, and it's exactly about this: how we can learn from each other and also maybe others in the room, because we know that the debt issue is one of the core issues for many investments.
Could also take this up, where the challenges are, and also ask our experts and distinguished guests at the panel maybe, as a summary, to speak about the hurdles, why things like this are not scaled up on a bigger, bigger, bigger scale.
So thank you very much for sharing.
I now give the floor to the distinguished representative of Estonia, followed by Nepal and Namibia.
Thank you, Madame President.
Estonia is firmly committed to achieving climate neutrality by 2050.
We support the EU target of reducing greenhouse gas emissions by 55 percent by 2030, as well as the goals of tripling renewable energy capacity and transitioning away from fossil fuels, as agreed during COP 28 in Dubai.
These objectives guide Estonia's climate and energy policies.
Compared to 1990, our greenhouse gas emissions have fallen by 66 percent, largely due to transformation in the energy sector.
Once heavily dependent on oil shale, Estonia has rapidly expanded renewables.
In the past five years, solar power capacity has increased more than 13 times.
Wind power capacity has more than doubled.
And today, around 40 percent of our electricity consumption comes from domestic renewable sources.
Looking ahead, Estonia aims to achieve 80 percent clean electricity consumption by 2035, mainly through new onshore wind farms providing clean, secure, and affordable energy.
Today's volatile energy markets show clearly that dependence on imported fossil fuels is a vulnerability.
The fastest and most affordable path forward is greater clean energy production and energy efficiency.
Estonia is therefore investing in electricity interconnections with neighboring countries and modern energy infrastructure that strengthens resilience and energy security.
Estonia is also a tech nation.
Since 2016, the number of Estonian cleantech companies has increased tenfold.
We are home to science-based global leaders in energy storage, energy efficiency, sustainable materials, and electrolyzer technologies for hydrogen production.
Technology is a key enabler of a just and inclusive energy transition.
Internationally, Estonia remains committed to climate finance and partnerships that support resilience, clean energy access, and forest protection in vulnerable countries.
Strengthening international climate and energy partnerships and continuing climate diplomacy in line with the Paris Agreement are key to reducing greenhouse gas emissions and increasing resilience to climate change.
We welcome the recent letter of the COP 31 presidency, Turkey and Australia, which commits to advancing clean energy as a key priority.
I thank you.
I thank the distinguished representative of Estonia.
I now give the floor to the distinguished representative of Nepal, followed by Namibia and Mexico.
Thank you, Madame President.
The climate shocks are intensifying at a scale and speed worldwide.
Despite contributing a negligible share of global greenhouse gas emissions, Nepal remains among the countries most vulnerable to climate change.
Our nationally determined contribution and climate frameworks reflect the global ambition to expand renewable energy and contribute to global climate goals.
We remain committed to achieving net zero emissions by 2045, while reducing net greenhouse gas emissions by nearly 17 percent by 2030 and 27 percent by 2035.
By harnessing our abundant renewable energy resources, particularly hydropower, we aim to generate over 28,000 megawatts of electricity, expand the use of electric cookie stops to more than two million households, and ensure that 95 percent of new private passenger vehicle cells are battery electric vehicles by 2035.
Over 95 percent of our people have access to electricity now.
In last fiscal, we earned about USD 190 million from electricity exports.
That reflects a promising window for our national development and regional energy security.
Electric vehicle adoption has risen from just 8 percent in 2019 to 73 percent in 2025, ranking Nepal second in EV adoption globally.
However, limited storage capacity, seasonal variability in hydropower generation, insufficient transmission and cross-border interconnection infrastructure, affordability gaps for vulnerable communities, and constraint access to predictable long-term financing continue to slow the pace of our energy transition.
Let me highlight three priorities.
First, we must significantly scale up affordable and accessible financing for developing countries, particularly countries in a special situation.
Investment from climate funds, IFIs, multilateral development banks, development partners, and the private sector are indispensable to expand renewable energy infrastructure, create green jobs, and support a just and inclusive energy transition.
For Nepal alone, implementing the NDC 3 mitigation targets requires an estimated USD 74 billion, with around 85 percent expected from external sources.
Meeting our adaptation priorities will require an additional USD 18 to 20 billion.
Second, we must fully implement global instruments and commitments to keep 1.5 degree centigrade pathway on track.
The Paris Agreement, COP outcomes, and Sustainable Development Goals, particularly SDG 7, and the recent ICG advisory opinion provide a strong legal and normative foundation for climate action.
Nepal co-sponsored the recent UNG resolution on ICG advisory opinion on climate change and strongly advocated for the incorporation of commitments to triple renewable energy capacity, double energy efficiency by 2030, and transition away from fossil fuels in a just, orderly, and equitable manner in the resolution.
Third, international cooperation must be strengthened to accelerate technology transfer, innovation, capacity building, and knowledge sharing.
Developing countries like my one country need equitable access to renewable energy technologies, energy storage solutions, critical energy transition, minerals, and modern infrastructure.
Thank you.
I thank the distinguished representative of Nepal.
I now give the floor to the distinguished representative of Namibia.
Madame President, we commend your initiative to convene this timely dialogue as we mark a decade since the Paris Agreement entered into force.
We thank all the briefers for their statements.
Namibia is advancing a just and inclusive energy transition by scaling up renewable energy deployment through our integrated resource plan, expanding access to electricity, and creating an environment, an enabling environment for investment in solar, wind, and green hydrogen.
These efforts are helping to strengthen energy security, create jobs, and support sustainable industrialization while contributing to our climate commitments.
We are targeting 70 percent of renewable energy electricity generation by 2030.
Namibia is the world's third-largest producer of uranium necessary to support clean nuclear energy production.
Moreover, Namibia's abundant renewable solar and wind energy sources resources have positioned it as a frontrunner in the global green hydrogen economy.
Namibia's green hydrogen sector has the potential to power sustainable industrialization, foster job creation, and secure its role as a competitive exporter of green energy and derivatives.
However, the cost of capital and technology remains high, and developing countries, particularly in Africa, who still rely heavily on fossil fuels for energy and industrialization, need flexibility to pursue their development paths in order to overcome poverty and national challenges.
Moreover, the crisis in the Middle East and its impact on energy prices has exposed the world's continued dependence on fossil fuels.
Namibia therefore emphasizes that because nations are at different stages of development, the global energy transition must be done in a just, fair, inclusive, responsible, orderly, and equitable manner to ensure that no country is left behind, in line with the international commitments noted in the Pact for the Future.
In this regard, and in order to accelerate implementation towards an energy transition, there is a need for strengthened partnerships and cooperation towards technology transfer, infrastructure development, concessional finance, blended finance mechanism, risk-sharing instruments, increased investments in grid modernization, regional interconnections, and energy storage.
Climate justice must go hand in hand with financial justice.
I thank you.
I thank the distinguished representative of Namibia.
I now give the floor to the distinguished representative of Mexico, followed by Saudi Arabia and the Republic of Korea.
Thank you very much.
Madame President, Mexico thanks you for convening this interactive dialogue, which keeps the energy transition at the forefront of the international agenda at a critical moment for climate action.
Today, the challenge is to accelerate the implementation of our existing commitments through concrete actions that reflect the different national circumstances, development priorities, and energy realities of each country.
Mexico supports a gradual, orderly, just, and inclusive energy transition.
We are convinced that it is possible to achieve economic growth, industrialize, and at the same time protect our planet.
To this end, climate ambition and energy security must advance hand in hand by strengthening the resilience of our energy systems through the diversification of energy sources, the modernization of infrastructure, and the enhancement of national and regional capacities.
The transformation required to keep the 1.5 degree Celsius goal within reach calls for a long-term vision, consistent public policies, appropriate incentives, and regulatory certainty to encourage investment.
In this context, strategic public planning remains indispensable to ensure that the expansion of renewable energy, electrification, and emerging technologies serves the public interest and responds to the present and future needs of the energy system.
As part of this strategy, Mexico is advancing the development of energy storage technologies, green manufacturing, and the circular economy, while placing energy efficiency at the center of its efforts to strengthen energy security, reduce costs, and deliver tangible benefits for households, industry, and public finances.
We also recognize that the transition requires complementary public and private investment.
However, for many developing countries, the principal challenge remains access to affordable finance, technology, and institutional capacity.
International cooperation must therefore expand access to concessional finance, reduce the cost of capital, and strengthen project preparation, while ensuring that private finance complements rather than replaces the essential role of public resources.
Finally, Mexico believes that regional cooperation is a key accelerator of the energy transition.
Regulatory convergence, regional value change, technological cooperation, and greater electricity interconnection can strengthen resilience and facilitate access to cleaner energy.
We reiterate that greater ambition must be matched by greater means of implementation so that the energy transition effectively contributes to universal access to energy, reduces inequalities, and a better quality of life for all.
Thank you.
I thank the distinguished representative of Mexico.
I now give the floor to the distinguished representative of Saudi Arabia.
Thank you, Madam President, for holding this important dialogue.
Energy security is a top priority for Saudi Arabia.
Development in international markets confirms that the current challenges to energy security are not contingent on the type of resource; rather, they are linked to other factors that may affect market stability.
Therefore, replacing one reliable energy source with another does not necessarily alleviate these challenges; rather, it may create a new source of vulnerability.
This is why, from our perspective, phasing out or eliminating fossil fuels will weaken the capacity of states and approaches and processes they have chosen to honor their commitments.
It could undermine energy security and have significant economic repercussions across the world.
Indeed, fossil fuel remains a fundamental component of the global energy mix, and will remain so for the next decades to realize sustainable development.
In this context, Madam President, we reaffirm that energy security is not limited to diversifying energy sources; it also encompasses the protection of infrastructure, the guarantee of the security of waterways, and the freedom of navigation.
Development in the Straits of Hormuz and Bab el-Mandeb demonstrates the need for increased international cooperation to ensure the continuous, safe, and reliable supply of energy to global markets, in compliance, naturally, with international law and relevant Security Council resolutions.
In conclusion, we reiterate that the difference of natural resources and development needs and development necessitate using conventional and renewable energy while allying the principle of common but differentiated responsibilities, and contributing to the realization of sustainable development.
Thank you.
Macron, I thank the distinguished Representative of Saudi Arabia.
I now give the floor to the distinguished Representative of the Republic of Korea, followed by El Salvador and Thailand.
Thank you, Madam President.
The global energy transition has become more urgent than ever.
The Republic of Korea is tackling this issue by working to increase the share of carbon-free power sources to around 70 percent by 2038, while pursuing a balanced mix of clean energy sources.
We are also advancing offshore wind and hydrogen technologies, and promoting digital-based energy efficiency innovation to build a more flexible and resilient energy system.
Building on these practices, the Republic of Korea would like to propose two areas of cooperation with the international community.
First, we must advance infrastructure investment and local capacity building to expand energy access in developing countries.
Many developing countries possess significant renewable energy potential, but to fully exploit these resources, they must overcome challenges including insufficient power grids and infrastructure constraints.
The Republic of Korea, together with the African Development Bank, has been supporting energy infrastructure development in Africa since 2021 through the Africa-Korea-Africa Energy Investment Framework.
To further scale up these efforts, it is essential to utilize public and concessional resources as catalysts and leverage blended finance to effectively mobilize private capital.
Second, we must build mutually beneficial and sustainable critical mineral supply chains to support the transition to clean energy.
The Republic of Korea is supporting value creation in resource-rich countries and sustainable critical mineral development through concrete cooperation initiatives, including the Mohenjo-daro graphite project in Tanzania.
This reflects the spirit of mutually beneficial cooperation between producing and consuming countries, reaffirmed at the 2024 Korea-Africa Summit.
Excellencies, energy transition is a challenge that no country can achieve alone.
The Republic of Korea remains committed to strengthening international cooperation with the United Nations and member states to advance an inclusive and sustainable energy transition.
Thank you.
I thank the distinguished Representative of the Republic of Korea.
I now give the floor to the distinguished Representative of El Salvador.
Thank you, Madam President.
For our country, the energy transition is an opportunity to strengthen our energy security, to drive forward economic development, to promote innovation, and build a more sustainable and resilient future.
Ten years since the adoption of the Paris Agreement, it is essential to ramp up its implementation and guarantee the means required to bring commitments into concrete results.
El Salvador has engaged in a comprehensive transformation of its energy sector.
We strengthened our institutional framework by creating the General Directorate for Energy and Hydrocarbons and Mines, delivering modern governance and better capacities for planning and regulatory development.
We continue to diversify our energy mix with a growing participation of renewable sources such as geothermal energy, hydroelectric energy, photovoltaics, solar, and biomass, gradually reducing our dependence on fossil fuels.
We have strengthened our regulatory framework by adopting the law on geothermal energy, geared towards promoting investment and the sustainable harnessing of this strategic resource.
In the transport sector, the development law promotes the use of electric and hybrid transports, promotes clean and efficient energy.
In line with our NDCs, looking to the future, we are moving forward with the development of a nuclear energy program for exclusively peaceful purposes, in close cooperation with the International Atomic Energy Agency, and in line with the highest international safety standards.
Further, we recognize the potential of digitalization and artificial intelligence to optimize energy planning, to strengthen the resilience of critical infrastructure, and to improve efficiency and reliability of electricity supply.
We are aware of both the potential and the challenges involved in this transition: access to accessible financing, cutting-edge technology, modern infrastructure, and capacity building remains a challenge.
And that is why we are launching an appeal to strengthen international cooperation through more concessional financing, effective technology transfer, strengthening national capacities, and stronger alliances between governments, multilateral development banks, international organizations, and the private sector.
Modernizing the electricity grid and making systems more flexible, implementing more efficient systems, storing energy, and updating regulatory frameworks requires significant investments and access to the adequate financial tools that enable us to accelerate our journey to a fair energy transition.
Thank you.
The speaker's microphone was cut off.
Chairs, I thank the distinguished Representative of El Salvador.
I now give the floor to the distinguished Representative of Thailand, followed by Croatia and Ethiopia.
Thank you, Madam President.
I wish to thank the President of the General Assembly for convening this important event.
The multiple interconnected crises of today underscore that energy security, economic resilience, and climate action can no longer be separate agendas; they must advance together.
Thailand is a country highly dependent on energy imports, extremely vulnerable to the adverse impacts of climate change, and susceptible to the disruptions in international trade.
We recognize that the cost of inaction is high, and that business as usual is simply not enough.
This is why Thailand is accelerating the green transition as a part of broader climate action efforts, with the aim of achieving not only net zero greenhouse gas emissions by 2050, but also greater economic competitiveness, enhanced energy security, and climate resilience.
First, we have made important progress in expanding renewable energy deployment, particularly through the promotion of rooftop solar, biofuels, electric vehicles, and circular economy practices that support a low-carbon and resilient economy.
Second, we continue to advance the energy transition through energy-efficient measures across sectors: grid modernization and battery energy storage systems, while strengthening international cooperation and privileging regional integration to make technological advancements and build capacity.
Initiatives such as the ASEAN Power Grid can act as a critical enabler for mobilizing greater investment in clean energy infrastructure.
Third, the energy transition cannot be effective without enabling regulatory frameworks.
Thailand's forthcoming Climate Change Act will strengthen climate governance through the participation of all sectors.
At the same time, we continue to enhance green financing mechanisms through green bond frameworks, ESG disclosure standards, the Thailand Taxonomy, ESG funds, and sustainability-linked bonds, to mobilize sustainable investment and support the private sector's green transition.
Thailand remains committed to working with all partners to ensure that the global energy transition is just, inclusive, balanced, sustainably financed, and leave no one behind.
Thank you.
I thank the distinguished Representative of Thailand.
I now give the floor to the distinguished Representative of Croatia.
Madam President, Croatia aligns itself with the statement delivered by the European Union, and we thank the briefers for their insightful interventions.
Accelerating the global energy transition is vital because it determines whether the world can meet climate goals, strengthen economies, and ensure secure, affordable energy for all.
Scaling up renewables cuts emissions and reduces exposure to volatile fossil fuel markets, improving energy efficiency, lowers costs, and eases pressure on energy systems.
And without strong international cooperation, countries cannot access the technology, financing, and standards needed for a rapid sorry, for a rapid and fair transition.
Long-term policy certainty, including clear needed for 2040 and 2050 climate and energy targets, predictable regulatory frameworks, and stable investment conditions provide the confidence required for private sector investment in renewable energy, energy efficiency, electricity grids, storage, and clean technologies.
International partners should also support the modernization and digitalization of energy infrastructure, facilitate technology transfer, and promote knowledge sharing and regional cooperation.
For Croatia, the great transition is the green transition is a strategic priority.
It demands significant financial resources, so the key challenge is aligning available instruments and mobilizing private capital.
Yet, this transition is also an opportunity to innovate and build more resilient communities.
Croatia has already established a solid legislative framework, from climate and ozone protection to renewables, to renewables, energy efficiency, and nature conservation, clearly defining responsibilities and processes.
Knowledge transfer and project replication, from renewable energy to urban regeneration, helps scale solutions across regions.
Cooperation, shared learning, and coordinated policies are essential for effective climate adaptation and environmental protection.
Equally important is funding applied research that turns ideas into real-world implementation.
Croatia stands ready to share the experience and contribution to a global transition that is cleaner, more resilient, and fairer for all.
Thank you, Madam President.
I thank the distinguished Representative of Croatia.
I now give the floor to the distinguished Representative of Ethiopia, followed by Belarus and Algeria.
Thank you, Madam President.
Ethiopia welcomes this important meeting on accelerating the energy transition and international cooperation, a priority at the center of Ethiopia's economic development, trajectory, and climate resilience.
Ethiopia has made notable progress in key renewable energy capacity growth and energy access as part of our long-term low-emissions development strategy.
Accelerating the energy transition is not just a national imperative, but a cornerstone of our strategy of energy for economic transformation, social development, and climate resilience.
It crucially represents a turning point in realizing net zero emissions by 2050.
This progress in access has been underpinned by continued investment in clean energy production.
Ethiopia's power generation is almost entirely coming from renewable sources, such as hydropower, wind, and waste to energy.
However, overall energy access also remains a major challenge, as a significant part of the population still lacks access to basic electricity services, particularly in rural areas.
Financing, investment, and infrastructure gap remains a significant bottleneck.
The high cost of capital for energy projects is also a major barrier, stalling investment in greater clean energy access.
For Ethiopia, the challenge is no longer one of commitment or vision, but of scale and speed.
The government aims to deliver a rapid, inclusive, and sustainable energy transition.
Ethiopia's national energy compact, currently under implementation, is expanding access, diversifying clean energy sources, and strengthening financial and institutional capacity and resilience.
Achieving this vision will require sustained and coordinated action, a strong public sector role, significant private sector engagement, and greater international partnerships.
Partnerships in Africa, such as Mission 3000, represent a new model of effective delivery built on national ownership, innovative financing, and measurable outcomes.
In conclusion, energy transition and access remains a critical development frontier and enabler to accelerating the implementation of all the SDGs.
For this to succeed, political will and robust partnership engagements are like Mission 3000, need to be scaled up, and the debt burden on developing countries need to be urgently.
I thank the distinguished Representative of Ethiopia.
I now give the floor to the distinguished Representative of Belarus.
Thank you, President.
The transition to carbon-neutral energy is not simply an environmental initiative, but a global need and is critical to ensure sustainable development of our planet.
However, the global energy transition through implementing renewable sources of energy should take into account the national interests of states.
It needs to be economically justified, and it needs to ensure a reliable energy supply.
This complex and multifaceted process, making this simply a race to green, where many developing countries will simply end up in economic servitude, is unacceptable, much like using green technology as an instrument for sanctions and the climate agenda being used as geopolitical leverage for trade protectionism.
President, as a result of our large-scale modernization of our energy infrastructure, Belarus today provides access for 100 percent of our population to electricity.
We fully meet the needs for electricity through our own sources of energy, and we were able to reduce greenhouse gas emissions by more than 40 percent compared with 1990.
A key element that has allowed for this ecological and economic balance was the launch of the Belarusian nuclear power plant.
This power plant meets two-fifths of our natural demands for electricity.
Also, the work of the nuclear power plant has allowed us to reduce our annual greenhouse gas emissions by more than seven million tons.
Our long-term development goal for Russia is focused on meeting the needs of our economy and our people, and based on making best effective use of our energy and reducing the environmental impact.
This also includes measures to increase the share of renewable sources of energy to a level of no less than 8.5 percent by 2030.
In conclusion, allow me to note that Belarus is interested in strengthening international cooperation, particularly on questions of digitalization of energy, developing e-transport, and energy storage systems.
And we're looking forward to discussing this with all interested parties.
Thank you.
I thank the distinguished Representative of Belarus.
I now give the floor to the distinguished Representative of Algeria, followed by Saint Kitts Nevis and the Russian Federation.
Thank you, Madam President, for organizing this important dialogue on the global energy transition.
Madam President, Algeria is steadily accelerating its energy transition within a comprehensive vision for advancing energy diversification.
It is also enhancing its energy sovereignty through large-scale projects.
Our national program, Energy is one of the most ambitious in Africa, aims to reach 15,000 megawatts by 2035, with a focus on solar energy.
In this regard, two solar power plants with a combined capacity of 400 megawatts are already being connected to the national grid as part of the national effort to reach an initial solar capacity of 3,000 megawatts.
Furthermore, the green hydrogen road map positions Algeria as a potential exporter in regional and international markets.
Madam President, Algeria achieved universal access to electricity in 2025.
The non-hydrocarbon growth increased by more than 4.8 percent, highlighting the growing contribution of non-hydrocarbon sectors to economic development.
Madam President, today the issue is about a lack of capacity.
According to the SG reports, even as renewable energy capacity increased from 14 to 18 percent in developing countries, developed countries' capacity remains more than double.
Therefore, international cooperation is more urgent than ever.
Energy transitions need to be accelerated, accelerated particularly in developing countries by ensuring adequate and sustainable financing, strengthening capacity building and technology transfer, and enhancing infrastructure connectivity.
To this end, Algeria remains committed to working with its partners towards a just and effective energy transition that preserves the right of all to development.
I thank you.
I thank the distinguished Representative of Algeria.
I now give the floor to the distinguished Representative of Saint Kitts and Nevis.
Thank you, Madam President.
This dialogue on renewable energy technologies and opportunities for enhanced global cooperation is a necessary one, more so when one considers the imperative of geostrategic security amid heightened geopolitical and geoeconomic volatility.
We must resolve to foster pathways towards greater sustainability, resilience, and security, for as we stand, lands and houses burn in Canada and across coastal communities of the Caribbean, islands submerged beneath the anxieties of the Atlantic hurricane season.
Geothermal energy can become a foundation of a resilient energy system where policy, ambition, technical knowledge, institutional capacity, and partnerships are aligned.
First, geothermal can serve as a stability pillar for a stability pillar for island electricity systems, for isolated island grids where solar and wind resources are essential but variable.
Firm renewable energy resources such as geothermal provide reliability.
Second, successful geothermal development begins with knowledge.
This reinforces the importance of monitoring, data collection, reservoir modeling, geochemical analysis, and the use of emerging technologies to support better decision-making.
Third, geothermal projects must be bankable.
This is what Saint Kitts and Nevis is doing with its federal legislation, recognizing that geothermal is a national resource that can have a multiplier and connectivity effect across the Eastern Caribbean.
Today, Saint Kitts and Nevis has entered an important phase with exploratory drilling now commencing through Iceland Drilling Company.
This is supported through a 17 million contingently recoverable grant courtesy of the Caribbean Development Bank.
This milestone reflects the value of strong partnerships.
We thank GCC countries, the Caribbean Development Bank, IDB, and the Green Climate Fund for their energy, strategic foresight, and partnership.
Through the Global Gateway, Irena Sids Lighthouse, and the Sustainable Energy for All initiative, there's an opportunity to strengthen inter-island and multi-island cooperation.
We must energize the financing of SIDS, who are shut out of climate and climate financing through discriminatory and antiquated GDP per capita rules.
We must invest and make real the MVI.
Thank you.
I thank the distinguished Representative of Saint Kitts and Nevis.
I now give the floor to the distinguished Representative of the Russian Federation, followed by Tajikistan and the United Arab Emirates.
President, brief is accelerating the energy transition to renewable sources of energy, and the aggressive policy for promoting it today is not so much a way of reducing greenhouse gas emissions, but rather an instrument for economic dominance, reshaping markets, and increasing technological dependence of countries.
The collective West's alarmist rhetoric, focused on reducing the importance of traditional energy systems, is nothing other than an attempt to reallocate competitive advantages.
Climate slogans hide blatant discreditation and marginalization of fossil fuels without taking into account the economic reality, different development realities, and circumstances that countries in the global majority are facing.
Attempts in this background to use the question of clean energy production to promote the fossil fuel lock-in concept seem hypocritical.
It's important to understand that trying to present renewable sources of energy as a cheap source of energy is not quite accurate.
Often, no mention is made of the cost of necessary infrastructure, capacity, and storage, and this places a greater burden on the end user.
Rising costs of energy are crystal clear here in the US, in California, for example, where green sources of energy cover two-thirds of generation, but electricity prices in California are 90 percent higher on average than in other states.
President, today we are really seeing tensions and volatility of prices for energy.
However, it's clear to everyone that the reason for this is the crisis in the Middle East and the actions of those countries who caused this crisis.
Moreover, we cannot omit to mention the impact of unilateral sanctions of Western countries imposed in Circumvention of the UN Security Council and sanctions that undermine global energy and food security.
We believe that a just energy transition should be based on the principle of technological neutrality, the respect for national priorities, and a balance between economic, social, and economic challenges.
Ensuring energy security is only possible through using the whole set of available solutions, including nuclear and hydro energy, technology for carbon capture, utilization, and storage, and the use of natural gas as a transitional interim type of fuel.
This comprehensive approach is something that is reflected in decisions made by the UNFCCC, and it was mentioned today as too.
Thus, President, the idea of an imperative to move away from hydrocarbons and the no alternative for renewable energy.
The speaker's microphone has been cut off.
Federation, I now give the floor to the distinguished Representative of Tajikistan.Okay, yeah, the microphone is not connecting.
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Please.
Thank you for your patience.
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Thank you, Madam President.
Excellencies, distinguished colleagues, the global energy transition has reached a decisive moment.
Renewables represent almost 86% of new power capacity in 2025, yet more than 3,000 gigawatts of renewable storage and large load projects remain waiting for grid connection.
The direction is clear: the challenge is delivery.
For Tajikistan, therefore, three priorities are essential.
First, generate more clean energy.
Approximately 98% of Tajikistan's electricity already comes from hydropower.
We are also expanding solar and wind power, aiming to increase their contribution to 10% of national electricity generation.
The Rogon Hydropower Plant is central to this transition.
Once completed, it is expected to generate 14,400 gigawatt-hours annually, equal to around 60% of Tajikistan's current electricity generation.
It will improve energy access for more than 10 million people, create jobs, and contribute to regional energy security.
The global transition must therefore recognize the full range of renewable solutions: solar, wind, sustainable hydropower, storage, and modern electricity grids.
Second, finance the transition fairly.
Global clean energy investment reached approximately $2.2 trillion in 2025, but these resources remain highly concentrated.
Africa, for example, receives only 2% of global clean energy investment despite possessing 60% of the world's best solar potential.
Multilateral development banks must expand concessional financing, guarantees, and risk-sharing instruments, particularly for landlocked, mountainous, and other vulnerable developing countries.
Third, connect the transition across borders.
Clean energy must move from where it can be generated to where it is needed.
Cross-border transmission lines and regional electricity markets can reduce shortages, balance national grids, and strengthen energy security.
Tajikistan is advancing this approach through regional initiatives, including CASA 1000.
Madam President, the path forward can be summarized in three words: generate, finance, and connect.
Tajikistan stands ready to work with all partners to turn these priorities into practical action.
I thank you.
I thank the Distinguished Representative of Tajikistan.
I now give the floor to the Distinguished Representative of the United Arab Emirates, followed by Timo Lester.
Thank you, Madam President.
The United Arab Emirates welcome this timely dialogue and commend your leadership in placing implementation at the center of the international agenda.
We also thank the distinguished panelists for their insights this morning, and we were pleased to hear the consistent recognition across the panel of the UAE consensus as a landmark achievement and a shared commitment that must now guide our path forward.
The UAE consensus remains an important global reference point, and our focus must now be implementation through accelerated investment in renewable energy grids, storage, energy efficiency, and other low-carbon solutions, while safeguarding energy security, affordability, and sustainable development.
The UAE is leading by example.
Under the updated UAE Energy Strategy 2050, we aim to triple the contribution of renewable energy in our national energy mix by 2030 and mobilize $40 to $50 billion in investments.
Mostar renewable energy portfolio has reached 65 gigawatts, with a pathway to 100 gigawatts by 2030.
In July 2026, Mostar and the Emirates Water Electricity Company reached finance shell close on a $6.1 billion project, combining 5.2 gigawatts of solar capacity with 19 gigawatt-hours of battery storage to deliver 1 gigawatt of continuous clean power.
Energy efficiency is equally critical.
Between 2020 and 2025, the UAE National Water and Energy Demand Management Program avoided over 14.8 million tons of emissions and generated more than $2 billion in savings.
We also launched the Global Energy Efficiency Alliance to strengthen the international cooperation and implementation.
For many developing countries, the challenge is not ambition, but access to affordable finance, bankable projects, and modern grid storage technologies and technical capacity.
We must reduce the cost of the capital and scale investment through stronger partnerships.
Finally, the UAE remains committed, and I thank you, Madam President.
I thank the Distinguished Representative of the United Arab Emirates.
I now give the floor to the Distinguished Representative of Timo Lester, followed by Peru.
Madam President, Excellencies, distinguished delegates.
Timo Lester aligns itself with the statement delivered by Palau on behalf of IOSCE and thanks the PGA for this timely discussion on accelerating global energy transition.
At its core lies a simple truth: those who have contributed least to climate change should not bear its heaviest consequences.
Climate justice and the principle of common but differentiated responsibilities and respective capabilities, in the light of different national circumstances, remain indispensable to delivering an effective global response.
For Timo Lester, the transition to renewable energy is not merely an environmental objective; it is a development imperative and a matter of national resilience.
As a least developed country and small-island development state with negligible historical emissions, we are already confronting rising sea levels, coastal erosion, and increasing severe climate impacts that threaten livelihoods, infrastructure, and food security.
Yet many developing countries remain locked out of energy transition.
Renewable technologies are becoming more affordable, but high boring costs, limited access to concessional finance, and inadequate grid infrastructure continue to delay investment where it is needed most.
Around the world, thousands of gigawatts of renewable capacity await grid connection.
Demonstrating the challenges is no longer ambition alone, but implementation.
Addressing these barriers requires predicting finance, affordable capital, technology transfer, and strengthening capacity building.
Greater investment in resilient electricity grids and enhanced international cooperation are equally essential to translate global commitment into national action.
For Timo Lester, renewable energy can expand electricity access to rural communities, reduce dependence on imported fossil fuels for domestic energy needs, strengthen energy security, and support economic diversification to create opportunities for education, health care, and digital connectivity.
Improving energy efficiency can further enhance resilience while reducing costs and supporting sustainable development.
Lastly, we must strengthen multilateral cooperation to better respond to the interconnected challenge of climate, development, and finance, ensuring that the global energy transition is not only faster but fairer, respecting national circumstances and development priorities, while enabling every country to pursue sustainable development.
I thank you.
I thank the Distinguished Representative of Timo Lester.
I now give the floor to the Distinguished Representative of Peru, followed by the Maldives and Italy.
We have 40 minutes left and more than 15 speakers still on the list, so if you are a bit shorter than 3 minutes, we might make it, and also would use the opportunity for a very, very brief sum-up at the end.
So the Distinguished Representative of Peru, please, you have the floor.
Madam President, Peru thanks you for convening this dialogue at a decisive juncture to accelerate the implementation of the Paris Agreement.
My country is making progress with the energy transition.
Close to half of our electricity comes from hydroelectric sources.
We have significant potential to expand renewable energy, and we have been strengthening our regulatory framework to facilitate new investments, engaging in the development of green hydrogen and moving towards a cleaner and more diversified energy mix.
However, the main barrier that many developing countries face, and in particular middle-income countries, is not a lack of ambition, but rather the high cost of capital.
The energy transition requires unprecedented investments.
However, access to concessional financing remains insufficient and fragmented.
In addition to this, we have the need to modernize the transmission and distribution networks, an essential condition to integrate new renewable sources and ensure a secure and reliable supply.
This is why it is essential that multilateral development banks, international financial institutions, and climate funds increase their capacity to mobilize resources, to reduce risks, and attract private investment on a large scale.
International cooperation must lead to more accessible, predictable, and financial instruments that are tailored to the needs of developing countries.
At the same time, the transition must respect national circumstances and the principle of common but differentiated responsibilities.
Each country must be able to define the right trajectory for them to achieve climate neutrality.
In this context, transition fuels such as natural gas play a complementary role to ensure energy security at the same time as we engage in the deployment of renewable, accessible energies.
For Peru, a just energy transition will not only be measured by the emissions avoided, but also by its ability to expand access to accessible energy to reduce energy poverty and to bring about sustainable development opportunities for our populations.
Thank you very much.
I thank the Distinguished Representative of Peru.
I now give the floor to the Distinguished Representative of the Maldives, followed by Italy and the Netherlands.
Madam President, for the Maldives, the energy transition begins with the fuel bill.
Every island needs its own energy system, and every liter of diesel must cross the sea to reach it.
This makes electricity in the Maldives among the most expensive in South Asia, while leaving our economy exposed to price shocks far beyond our shores.
In 2025, fuel imports were equal to around 10% of our GDP.
This is money leaving our economy and risk entering it, and that is why we are changing course.
The President of the Maldives, Dr.
Mohamed Bouiz, has committed the Maldives to generate 33% of its electricity from renewable sources by 2028.
The Maldives has installed 110 megawatts of renewable energy to date, with solar storage and grid upgrades underway.
We are using power purchase agreements, net metering, and private investment to move faster.
Implementation has taught us that small island grids require sequencing.
Storage and modernization must accompany scale.
Opposing cloud can sharply reduce solar output.
Without strong storage and smart management, progress can become instability.
The transition must be built as a system, not as a collection of projects.
It must also be just.
Fuel subsidy reform can create fiscal space, but it can also raise costs for families.
Reform must therefore come with targeted support, social protection, reskilling, and investment in essential services.
The same principle applies globally.
For small island developing states, projects stall because of high capital costs, small markets, fragile grids, and limited fiscal space.
Ten years after Paris, we do not need promises with no action.
We need grids that work, finance for implementation, technology that reaches those who need it, and partnerships that deliver.
I thank you.
I thank the Distinguished Representative of the Maldives.
I now give the floor to the Distinguished Representative of Italy.
Madam President, thank you.
Madam President, thank you for bringing us together to discuss how we can accelerate the global energy transition and mobilize investments in line with the Paris Agreement, the COP28 global stocktake, and the 2030 agenda.
In the context of geopolitical uncertainty, accelerating renewable energy deployment, enhancing energy efficiency, and diversifying energy sources and supply chain have become essential to strengthening energy security and advancing the clean energy transition.
Italy believes in the crucial role of multilateralism in tackling climate change and is fully committed to reaching its energy and climate targets through a technology-neutral approach, encompassing renewables, energy efficiency, sustainable fuels, CCUS, and innovative nuclear technologies.
In 2024, Italy recorded its strongest growth in renewables in the past decade, with around 8 gigawatts of new installed capacity, bringing renewables to cover more than 47% of electricity demand in 2025, the highest share ever achieved nationally.
New schemes such as FAIR-X aim to incentivize a further 37 gigawatts of renewable capacity, supporting Italy's goal of reaching 39.4% of gross final energy consumption from renewables by 2030.
At the regional level, Italy is strengthening its role as a strategic energy hub between Europe and North Africa through projects such as ELMED and the South H2 corridor, enhancing energy integration across the Mediterranean.
At the multilateral level, COP30 in Belém marked an important milestone.
Italy is proud to have launched, together with Brazil and Japan, the Belém 4X Pledge on sustainable fuels, aiming to quadruple the use of sustainable fuels by 2035.
Italy also invests in education and capacity building.
Last year, we financed a project with the International Solar Alliance to train 200 government officials across Ghana, Ivory Coast, Ethiopia, and Somalia.
We further support youth engagement through Youth for Climate with UNDP and IACT with IRENA.
In conclusion, the pathway to net zero emissions requires collective action, stronger multilateral cooperation, ambitious national commitments, continued investment in innovation and infrastructure, and a full portfolio of zero and low-emission technologies.
Italy remains committed to working with its partners to turn global commitments into.
I thank the Distinguished Representative of Italy.
I now give the floor to the Distinguished Representative of the Kingdom of the Netherlands, followed by China and Israel.
Thank you, Madam President.
And the Kingdom of the Netherlands is grateful to you for dedicating this signature event to the global energy transition.
We align ourselves with the statement of the European Union, and we wish to highlight three points.
First, the energy transition is essential for energy security, affordability, economic stability, and to keep the 1.5 degrees Celsius within reach.
We are committed to implementing our energy transition goals in a responsible and inclusive manner.
This includes tripling renewable energy, advancing energy storage and electrification, strengthening power systems, and doubling energy efficiency.
We must also ensure that we leave no one behind in this process, reaching universal access to electricity and clean cooking, and protecting vulnerable people from shocks caused by fossil fuel dependence.
Second, this year, Colombia and the Netherlands hosted the first international conference on transitioning away from fossil fuels in Santa Marta, Colombia.
The conference brought together 57 countries representing around one-third of global GDP, as well as a broad group of stakeholders.
Three work streams were developed to support continued dialogue and practical cooperation.
And according to the International Energy Agency, global energy spending for the transition is on track to reach $2.2 trillion in 2026, almost double the investments in fossil fuels.
Still, we recognize that the energy transition requires broader transformations of economies, investment patterns, trade flows, and jobs.
Recent experiences have shown again how producer and consumer countries are vulnerable to geopolitical tensions and price spikes because of their dependency on fossil fuels.
Countries that wish to engage constructively in accelerating the transition away from fossil fuels are welcome to join this work.
Third and last, I would like to end with a people-centered view of our energy challenges.
Almost 10% of the global population still lacks access to modern energy, and women are especially vulnerable to energy poverty.
The current progress is not sufficient to reach the SDGs 7 targets by 2030.
Last year, the Netherlands provided access to renewable energy, including clean cooking, to almost 12 million people.
And since 2015, we have reached more than 40 million people.
And in order to keep the momentum, clean and affordable energy with a people-centered focus must remain central to our global energy agenda, also post-2030.
I thank you.
I thank the Distinguished Representative of the Kingdom of the Netherlands.
I now give the floor to the Distinguished Representative of China, followed by Israel and Denmark.
Madam President, this year marks the 10th anniversary of the entry into force of the Paris Agreement.
The current pressures on nature, coupled with the growing demands of human development, are propelling global climate change, climate governance, and the energy transition into an unprecedented and critical phase.
The energy transition is both the core issue and the only viable path for addressing climate change.
The international community should seize this opportunity to take urgent action and work together to advance the global energy transition.
First, deepen scientific and technological cooperation.
Scientific and technological innovation is the engine of the energy transition.
We must break down barriers and engage in global cooperation to advance breakthroughs in technologies such as energy storage, energy transmission, low-carbon transition of the coal power sector, and carbon capture and utilization, while expanding the use of various renewable energy sources, including wind, solar, hydropower, nuclear, geothermal, and biomass.
More developing countries should be empowered to participate in cooperation on energy technology innovation.
Second, strengthen industrial cooperation.
We should engage in full industrial chain cooperation, spanning power generation facilities such as wind turbines and photovoltaic systems, transmission facilities such as energy storage stations and power grids, and consumption endpoints in both industrial and residential sectors to foster and refine a sound and stable global ecosystem for energy transition cooperation.
We must help less developed countries establish local industrial chains while integrating them into global ones and enhance their value-added capabilities and industrial resilience.
Third, expand financial channels.
We should promote reforms of the international financial architecture and bring innovation in development financing, ensuring that political commitments and market forces reinforce each other.
While making the global investment pie bigger for green industries, we should allocate a larger share of the pie to those in resource-rich but capital-poor developing countries with a view to stimulate their endogenous momentum for transition.
Meanwhile, developed countries should earnestly fulfill their relevant commitments.
China is an active promoter and a contributor to the global energy transition.
Climate change and green development are among the eight priority areas of the Global Development Initiative proposed by President Xi Jinping.
China is willing to leverage its technological and industrial prowess to engage with all countries in technology, sharing industrial cooperation and a joint consultation on financing, and provide genuine, robust, and tangible assistance to developing countries to achieve a just energy transition, working hand in hand for common development and building a beautiful and clean world together.
Thank you, Madam Chair.
I thank the Distinguished Representative of China.
I now give the floor to the Distinguished Representative of Israel.
Madam President, thank you for convening this important dialogue today.
In a way, Israel operates as an energy island.
Our electricity grid is not connected to neighboring countries, meaning every megawatt we produce, store, and manage must be generated and balanced domestically.
At the same time, we face limited land availability, high population density, and fast-growing electricity demands.
Over the years, these unique constraints that Israel faces have driven innovation, and we have made significant progress.
Israel is maximizing rooftop solar energy, promoting dual use of land for both agricultural and solar energy generation, expanding energy storage, and modernizing its electricity grid.
We use solar energy as a strategic national asset.
It strengthens our energy independence, resilience, and long-term energy security.
Today, renewable energy capacity has reached approximately eight gigawatts, supplying around 17% of our annual electricity generation.
We remain committed to increasing this share to 30% by 2030, with even more ambitious targets currently under discussion for 2035.
At the same time, Israel recognizes the important role of natural gas as a transitional fuel, while remaining fully committed to accelerating renewable energy deployment and working to close coal-fired power stations and to significantly accelerate the deployment of renewable energy.
Energy security and climate ambitions are not competing priorities.
Every short-term energy decision should reinforce the long-term transition.
Our experience has shown that success depends on creating an integrated system with modern grids, storage stable regulations, and efficient connection mechanisms that enable renewable energy to consistently grow.
I thank you.
Thank the Distinguished Representative of Israel.
I now give the floor to the Distinguished Representative of Denmark, followed by Indonesia and Azerbaijan.
Thank you, Madam President, and thank you for convening us to discuss this important topic.
And I align myself with the statement made by the European Union.
Madam President, we meet in the midst of yet another global energy crisis.
What makes this crisis different, however, is that we now do have a viable alternative.
Renewable energy has changed the equation.
The economics have shifted decisively.
In most parts of the world, renewables are now the cheapest and fastest source of new electricity.
And last year, global investment in clean energy was roughly twice the level of investments in fossil fuels.
Denmark is raising its climate ambition by aiming to reduce greenhouse gas emissions by at least 85%.
That's 85% by 2035 compared to 1990 levels.
Together with the EU's 2040 climate targets, this serves as our guiding star.
And how are we delivering on these ambitions while strengthening our energy security? Our goal is to become self-sufficient in clean, affordable, and secure energy by accelerating the deployment of renewable energy and large-scale electrification.
We are expanding our electricity grid, electrifying railways and other sectors, developing a long-term energy infrastructure plan, and strengthening the resilience and protection of critical energy infrastructure.
Internationally, Denmark is committed to accelerating the global energy transition.
We have supported the European submission on the roadmap for transitioning away from fossil fuels.
And as a co-founder of the initiatives like Beyond Oil and Gas Alliance and the Accelerated Partnership for Renewables in Africa, we continue to work with partners to deliver on the commitments made for the first global stocktake at COP28.
As we look ahead for COP31, we must send a clear signal to our citizens, to our businesses, and to our investors that the directions of travel is clear and irreversible.
The transition to clean energy is not only essential for tackling climate change; it is also fundamental for strengthening energy security, enhancing resilience, and creating new opportunities for sustainable economic growth.
Denmark stands ready to work with all partners to advance these shared objectives.
I thank you.
I thank the Distinguished Representative of Denmark.
I now give the floor to the Distinguished Representative of Indonesia, followed by Azerbaijan.
We thank you for convening this important event as we mark a decade since the Paris Agreement entered into force.
We also thank the brewers for their insightful remarks.
At the outset, Indonesia aligns itself with the joint statement delivered by Australia on behalf of MICTA.
Indonesia wishes to highlight three key points.
First, for Indonesia, the energy transition must advance climate emission and sustainable development while safeguarding energy security, affordability, and resilience.
It must be guided by equity and the principles of CBDRRC.
Under our second NDC, Indonesia's national emissions are projected to peak by 2030 and decline thereafter towards net zero emissions by 2060 or sooner.
We are translating this commitment into action through our electricity supply business plan for 2025 to 2034.
It provides for 69.5 gigawatts of additional capacity, with 74 to 76% coming from new and renewable energy sources and energy storage, supported by expanded and strengthened electricity grids.
Second, a just, orderly, and equitable transition must be inclusive and nationally determined, taking into account national circumstances and development priorities.
In terms of financing, our experience shows that mobilizing investment requires clear policy direction, bankable project pipelines, and effective risk-sharing mechanisms.
Since 2022, Indonesia's Energy Transition Mechanism Country Platform has served as a national vehicle for mobilizing blended finance to support early retirement of coal-fired power plants and investment in clean and renewable energy, such as floating solar projects and hydro infrastructures.
Third, international cooperation must move from commitments to implementation, particularly through adequate and accessible climate finance, technology transfer, and capacity building.
South-South and triangular cooperation can further scale up practical, country-driven solutions.
In our region, the ASEAN power grid also demonstrates how cross-border connectivity and multilateral power trade can strengthen energy security and improve resilience.
To close, we reiterate the importance of this meeting to complement the work of the UNFCCC and Paris Agreement and help translate a grid commitment into concrete cooperation and delivery.
I thank you.
I thank the Distinguished Representative of Indonesia.
I now give the floor to the Distinguished Representative of Azerbaijan, followed by Pakistan and Uruguay.
Thank you, Madam President.
At the outset, I would like to thank you for convening this interactive dialogue on accelerating the global energy transition.
The transition to clean energy has become a defining element of sustainable development, climate action, and long-term energy security.
While important progress has been made in expanding renewable energy and improving energy efficiency, significant challenges remain.
In this context, international cooperation and effective partnerships remain indispensable.
Azerbaijan believes that cross-border cooperation and multinational partnerships can play an important role in strengthening energy security while advancing global climate objectives.
As the COP29 presidency, Azerbaijan has worked to strengthen international cooperation and advance implementation across key areas of climate action.
Under the Baku Climate Unity Pact, key breakthroughs were achieved across all pillars, from long-awaited progress on operationalizing high-integrity carbon to agreement on a new collective climate finance goal for the first time in the history of the UNFCCC, and making the fund for responding to loss and damage fully operational.
Recognizing that the rapid deployment of renewable energy must be accompanied by modern and resilient electricity systems, Azerbaijan also launched the COP29 Global Energy Storage and Grids Pledge Initiative, which promotes stronger investment in electricity grids and energy storage as essential enablers of a secure, reliable, and resilient clean energy transition.
At the national level, Azerbaijan is pursuing an ambitious energy diversification agenda guided by its national development strategy, Azerbaijan-2030: National Priorities for Socio-Economic Development, which identifies building a clean environment at a country of green growth as one of the country's five national priorities.
In line with this vision, Azerbaijan continues to expand renewable energy generation through large-scale solar, wind, and hydropower projects across different regions, including the Liberated Territories.
Azerbaijan's post-conflict reconstruction and development efforts likewise demonstrate its commitment to green growth and sustainability.
Guided by the principles of environment stewardship and climate resilience, these efforts incorporate renewable energy solutions and innovative smart city and smart village concepts.
Madam President, accelerating the global energy transition requires practical action, strengthened partnerships, and sustained investment in renewable energy.
Azerbaijan remains committed to advancing a clean environment and green growth through its investments in renewable energy.
I thank you.
I thank the distinguished representative of Azerbaijan.
I now give the floor to the distinguished representative of Pakistan.
We thank you, Madam President, for convening this dialogue.
The transition is indeed possible, but it is not easy.
Progress remains concentrated in a few regions, with developing countries including ours lagging behind.
Recent volatility in global energy markets has illustrated the cost of moving too slowly.
As Mr.
Steele noted, Pakistan's renewables capacity did soften the impact on our power sector a bit.
But for us, this also points to a broader issue of supply chain stability, resilience, and diversification beyond the issue of energy alone.
Madam President, renewables account for over 30% of Pakistan's power mix, and solar capacity has grown sevenfold since 2021.
Our NDC 3.0 targets 62% renewables and hydropower by 2035, 1,200 megawatts of new nuclear by 2030, and efficiency savings of 35 million tons of CO2 equivalent, at an estimated cost of $565.7 billion.
However, the real question is one of implementation.
The central barrier to implementation is finance.
The cost of capital for developing countries remains too high, and climate finance still flows overwhelmingly as loans rather than grants, adding to debt burdens.
Developed countries must fulfill their climate finance commitments.
Fulfillment of the $300 billion NCQG goal through grant-based finance would help, though it remains insufficient.
We also call for adequate replenishment of climate funds and for the tripling of adaptation finance.
The cost of capital must be lowered through guarantees, blended finance, and local currency lending, alongside a shift from loans to grants and scaled-up MDB lending with a view to tripling it.
We must also speedily implement the commitments under the Compromisso de Sivia on debt, particularly to convene a dialogue on debt as part of the UN intergovernmental process.
None of the aforementioned solutions are new; they are existing commitments which have not been implemented.
In addition to finance, cost and access to technologies, such as storage technologies, matters just as much, a gap that hits developing countries hardest given weak technology transfer as well as limited local manufacturing capacity.
Grid infrastructure is yet another constraint.
In conclusion, a just, orderly, and equitable transition means its costs must not fall disproportionately on developing countries, it must be consistent with the principle of CBDR, and it must allow for flexibilities with pathways that can differ across countries in their pursuit of sustainable development in its three dimensions.
Climate action must also not become a pretext for new barriers to trade and development.
I thank you.
I thank the distinguished representative of Pakistan.
I now give the floor to the distinguished representative of Uruguay, followed by Bangladesh and Vietnam.
Thank you very much, Madam President.
Uruguay thanks you for convening this dialogue that's taking place at a decisive juncture where we need to accelerate the implementation of the 2030 agenda and the commitments of the Paris Agreement and moving towards the NATSCOP.
This is an opportunity to advance simultaneously with climate action, economic growth, energy security, and sustainable development.
In order for it to be truly transformational, it must also be just, inclusive, and supported by means for implementation that are commensurate to the magnitude of the challenge.
Uruguay has shown that with long-term public policies, institutional stability, and public-private partnerships, it is possible to profoundly transform an energy mix.
Today we have one of the most renewable electricity mixes in the world, with an energy transition focused on decarbonizing transport, industry, and developing renewable hydrogen and its derivatives and new productive sectors.
Experiences such as the Renewable Energy Innovation Fund demonstrate that it is possible to mobilize public and private resources to accelerate investment in technology, clean technology, and innovation.
However, our experience also confirms that the main challenge is no longer technological but rather financial.
The international community, with the UN playing a key role and with support from international financial institutions including the World Bank Group and the International Financial Cooperation, must move towards a more effective financial architecture that broadens access to long-term financing, reduces the cost of capital for developing countries, and mobilizes new private investments through risk mitigation mechanisms and combined financing.
Madam President, the energy transition should not be measured only by megawatts installed but also by its ability to bring about jobs, to promote innovation, and create opportunities for sustainable and inclusive development.
Uruguay reaffirms its commitment to share its experiences, to work with all member states to drive forward an accelerated, just energy transition based on renewed international cooperation that mobilizes the investments that the world needs.
Thank you very much.
I thank the distinguished representative of Uruguay.
I now give the floor to the distinguished representative of Bangladesh.
Madam President, we thank you for convening this timely signature event.
We also thank the distinguished panelists for their insights.
The recent global energy crisis has demonstrated the risks of excessive dependence on imported fossil fuels.
Bangladesh has also faced the burden of it.
It has made us realize the need to diversify energy sources and invest in renewable energy and resilient infrastructure.
Bangladesh welcomes the global commitment to accelerate the energy transition in line with the Paris Agreement.
Being a climate-vulnerable developing country, we view the transition to renewable energy as an environmental necessity.
Madam President, Bangladesh is positioning itself as a hub for renewable energy.
With over 27,000 megawatt installed power capacity, the country is steadily increasing its renewable share.
Bangladesh has proposed its third NDC as a global commitment to the Paris Agreement as well as a national plan for low-carbon climate-resilient development.
In our third NDC, we have pledged to reduce 84.97 million tons of carbon dioxide equivalent emissions by 2035, a 20.3 percent reduction from the business as usual.
Despite our limited resources, we will cut 26.74 million tons unconditionally, demonstrating our resolve to act.
But to deliver the remaining 58.23 million tons, we call upon the global community to honor its pledges of finance, technology, and capacity support.
With full implementation of our NDCs, Bangladesh will peak its emissions by 2030 and then begin to decline, a clear sign that climate justice can be advanced when ambition is matched with support.
However, our ambitions, like that of many developing countries, are constrained by limited access to affordable finance, high capital cost, and technological gaps.
We would like to highlight some areas of particular attention in this regard.
First, scaled-up and predictable climate finance, including concessional financing, is essential.
Second, technology transfer and capacity building should be strengthened to enable developing countries to deploy renewable energy at large scale.
Third, on policy perspective, investment in modern and resilient electricity grids must accompany renewable energy expansions.
To conclude, we reiterate that with stronger international cooperation and meaningful support, today's energy challenges can be transformed into opportunities for a cleaner and sustainable future for all.
I thank you.
I thank the distinguished representative of Bangladesh.
We have five more speakers, but as the Director General of Arena has to leave to the airport very, very soon, I would like to give you the floor, Francesco, for especially going back to the concrete points why some are enabling to doing the swap issue on finance and others not.
So maybe you can focus on that, and then we wish you all the best for flying back.
Thank you for joining us.
Excuse me for a co-host this, but it's quite inevitable.
Anyway, Ecuador.
We as Arena, we are going to launch in the first week of October in Santo Domingo an initiative for all Latin American and Caribbean countries.
So I'm sure that Ecuador will be part of that initiative.
And what I can say to all countries, this relates also to others, that we are trying to facilitate investment on ground.
You may have the possibility to send your projects to Arena.
We have 14 partners, including all the multilateral financial institutions.
We assess the bankability of the projects, and then we work with the partners to find the to provide the funding.
We have been successful in Central Asia.
We have been successful in Africa.
We are starting to be successful also in the Caribbean.
We have been able to facilitate geothermal in Dominica.
We are working also with Saint Kitts and Nevis to facilitate funding partners for providing funding.
So please send projects to us, and we will try to support you in getting the shift that you are asking for.
Concerning phasing out, phasing down the fossil fuel on climate, countries, you have all committed to the Paris Agreement and to transitioning from fossil fuels.
And in the UA consensus are very clear: the target of the triple, that is 11 terawatt of renewable energy by 2030, is not just a number.
It is the quantity of renewable energy that we need into the system to provide a 42 percent decrease of CO2 emission.
That's the targets for reaching the two degrees and making efforts going to the 1.5.
So this is very, very important.
So I think this also our report on transition from fossil fuel is just this logic.
So I hope that we can find a way to work together on that.
Thank you very much.
Thank you so much.
Thank you also for the preciseness and the very concrete recommendations.
Good flight.
I now give the floor to the distinguished representative of Vietnam, followed by Iran and the Philippines.
Madam President, I promise to be very brief.
Thank you for convening this timely dialogue, and appreciation extended to all the briefers for your insights.
For Vietnam, energy transition is an integral part of our sustainable development strategy.
It is aimed not only at reducing greenhouse gas emissions but also at strengthening energy security, enhancing economic resilience, and creating new opportunities for green growth.
Earlier this year, Vietnam revised its National Energy Master Plan, reaffirming its commitment to achieve net zero greenhouse gas emissions by 2050.
Under the revised plan, renewable energy is expected to account for 25 to 30 percent of primary energy supply by 2030, increasing to 70 to 80 percent by 2050.
The plan also promotes green hydrogen, modern electricity grids, energy storage, and other clean technologies to support a secure, reliable, and sustainable energy system.
Vietnam's experience also demonstrates the value of international partnerships.
Through the Just Energy Transition Partnership, JET-P, Vietnam has adopted its resource mobilization plan and is working closely with development partners to mobilize finance, promote technology cooperation, and strengthen capacity building in support of our energy transition.
This experience underscores that national ambition must be matched by sustained international support to translate commitments into concrete action.
Madam President, Vietnam's experience reflects a broader reality facing many developing countries.
While renewable energy deployment is accelerating globally, many continue to face significant barriers.
As such, we call for greater access to concessional and affordable finance, a lower cost of capital for developing countries, enhanced technology transfer, strengthened capacity building, and greater support from multilateral development banks and international financial institutions to mobilize investments at scale.
Such cooperation should provide developing countries with the means of implementation necessary to pursue a just, orderly, and equitable energy transition in accordance with our national circumstances, development priorities, and capabilities.
I thank you.
I thank the distinguished representative of Vietnam.
I now give the floor to the distinguished representative of the Islamic Republic of Iran, followed by the Philippines, Portugal, and as the last speaker, Egypt.
Bismillahrahmanirrahim.
Thank you, Madam President, for convening this dialogue, and thanks to the panelists for their insightful remarks.
As the concept note highlights, mobilizing investment and strengthening international cooperation are essential if we are to translate global commitments into practical implementation.
In this regard, capacity building, technology transfer, and predictable financial support therefore remain indispensable.
The United Nations must continue to play its central coordinating role by facilitating international cooperation, strengthening partnerships, and ensuring that developing countries receive the support necessary to implement their national strategies.
Madam President, guided by its national development strategies, Iran has expanded investment in renewable energy, particularly solar and wind power, promoting improvements in energy efficiency, encouraged cleaner technologies, and diversified its national energy mix.
In this path, genuine international cooperation is necessary.
However, one fundamental obstacle continues to undermine these collective efforts: unilateral coercive measures.
Removing these unlawful barriers is therefore not merely a political demand; it is an essential prerequisite for accelerating the global transition toward clean energy.
Madam President, armed aggression against sovereign member states directly undermines the implementation of sustainable development goals and objectives of environmental and climate agreements.
The military aggression against the Islamic Republic of Iran as a victim country clearly illustrates this reality.
Madam President, allow me to conclude with three messages.
First, accelerating renewable energy requires stronger international cooperation and solidarity.
Second, unilateral coercive measures and military aggression are incompatible with sustainable development and represent serious obstacles to climate action, environmental protection, and achieving the sustainable goals.
And finally, peace, multilateralism, and full respect to the Charter of the United Nations and respecting the principles of CBDR, RC, and equity remain the indispensable foundations for a just, orderly, and inclusive global energy transition.
I thank you.
I thank the distinguished representative of the Islamic Republic of Iran.
I now give the floor to the distinguished representative of the Philippines.
Thank you, Madam President.
Excellencies, distinguished colleagues.
Since the entry into force of the Paris Agreement, the global energy transition has gained significant momentum.
Our shared challenge now is to accelerate implementation in a manner that advances climate action while strengthening energy security, supporting sustainable development, and promoting economic growth.
For developing countries, this transition must remain just, equitable, and responsive to national circumstances.
For the Philippines, accelerating the energy transition means expanding renewable energy, improving energy efficiency, modernizing our power infrastructure, and strengthening resilience.
We have set ambitious targets to increase the share of renewable energy in our power generation mix, from 35 percent by 2030 to 50 percent by 2040.
These efforts are intended not only to reduce emissions but also to enhance energy security, improve affordability, and support long-term economic growth.
Yet many developing countries continue to face significant barriers: high financing costs, inadequate grid infrastructure, limited energy storage, and constrained access to affordable capital continue to slow the pace of the transition.
Addressing these challenges requires stronger domestic enabling environment supported by an international financing system that is more accessible, predictable, and responsive to national priorities.
In this regard, the Philippines supports stronger partnership among multilateral development banks, international financial institutions, climate funds, bilateral partners, and the private sector.
Expanding access to concessional and blended finance and technical assistance will help mobilize private investment, accelerate grid modernization, and scale up clean energy deployment.
Equally important is international cooperation in technology transfer, capacity building, and knowledge sharing.
As Chair of ASEAN, the Philippines also recognizes the value of regional cooperation in advancing a secure, resilient, and sustainable energy future.
As ASEAN moves forward with the implementation of ASEAN 2045, our shared future, strengthening regional energy connectivity, expanding renewable energy deployment, and promoting sustainable investment will be essential to accelerating the region's energy transition.
As we look ahead to COP 31, we must match our collective ambition with stronger implementation by scaling up finance and strengthening technology cooperation, ensuring that countries that have the means to deliver on their commitments.
In this regard, the United Nations has an important role in promoting greater coherence across climate action, sustainable development financing, and technology cooperation.
Through stronger multilateral partnership, we can help ensure that no country is left behind.
The Philippines remains committed to working with all partners to advance a secure, resilient, affordable, and sustainable energy future for all.
Thank you, Madam President.
I thank the distinguished representative of the Philippines.
I now give the floor to the distinguished representative of Portugal.
President, Portugal aligns with the statement delivered by the EU and would like to add the following: Ten years after the entry into force of the Paris Agreement, direction is clear.
The challenge is no longer whether the energy transition will happen, but whether we can deliver it at the speed and scale required.
The clean energy transition is not only a climate imperative; it is also fundamental for strengthening energy security, enhancing economic resilience, and creating new opportunities for sustainable growth.
Recent geopolitical crises have reminded us that reducing dependence on fossil fuels is not only an environmental objective; it is also a strategic one.
Implementation must therefore be a priority.
This means accelerating renewable energy deployment, modernizing electricity grids, improving energy efficiency, and ensuring that permitting, regulation, and infrastructure keep pace with growing investment.
At the same time, we cannot ignore the financing gap.
A just and inclusive transition requires stronger multilateral cooperation, a greater mobilization of concessional finance, and development banks that are able to leverage significantly more private investment, particularly to developing countries.
Portugal remains committed to contributing to these efforts, both domestically and internationally.
Nationally, we continue to accelerate renewable deployment through our updated National Energy and Climate Plan, while investing in storage, green hydrogen, and electrification of transport and industry.
Internationally, we believe that innovative partnerships are equally important.
Portugal has pioneered debt for climate swap mechanisms, redirecting debt repayments into climate and environmental investment.
These partnerships demonstrate how tailored financial solutions can strengthen resilience, support sustainable development, and help mobilize additional investment where it is most needed.
Looking ahead to COP 31, our collective task is clear: to translate existing commitments into concrete implementation.
We know what needs to be done.
The priority is to ensure that all countries have the means to deliver a just and inclusive energy transition.
Thank you.
I thank the distinguished representative of Portugal.
I now give the floor to the final speaker.
The floor to one of the previous COP presidencies, the distinguished representative of Egypt.
Thank you so much, Madam Chair, for giving me the floor.
And we would like to thank you for convening this discussion at this critical moment.
I will be very brief.
I will just focus on three points.
First, while we all recognize the importance of accelerating the energy transition, we cannot ignore, of course, the reality of the current global context.
You know that ongoing conflicts, disruptions of trade and supply chains, economic uncertainty, volatility in energy and financial markets are placing pressure on developing countries.
So fiscal space is shrinking, and resources that should be invested in sustainable development and clean energy are increasingly being diverted to address immediate crises.
My second point is that although we have seen progress in renewable energy, many developing countries simply do not have the means to move at the pace expected.
So the biggest challenges that we are still remaining or still facing are the affordable finance, the high cost of capital, and the limited access to technology.
That's why the international cooperation is not optional at the time.
It is essential for all of the developing countries.
So we are asking developed countries at this stage that they should deliver on their climate financing commitments, and multilateral development banks also and IFIs need to do much more to expand concessional finance to reduce the investment risks and support developing countries in their transition.
My last point is that we should remember that the energy transition is not only about changing energy systems for us as developing countries.
It is fundamentally a development issue.
It must improve energy access, strengthen energy security, support poverty eradication, and create opportunities for sustainable growth while fully respecting national circumstances and developing priorities.
Madam Chair, if we truly want to move from commitments to implementation, then financing, technology transfer, and capacity building must become realities rather than aspirations.
This is the only way to ensure that no developing country is left behind.
I'm sorry if I take too much time, but thank you, Madam Chair, so much.
No, thank you very much for this wonderful wrap-up.
I'm thanking already the translators for giving us a couple of more minutes, but this means we all have to be very, very short, not only because everybody might be hungry, but also after three hours translating, we really have to come to an end.
I would like to thank you all.
We had 44 member states and groups intervening, underlining, I think, very precisely, as one of you put it, that renewable energies are a strategic energy security asset enabling every member state around the world and therefore every country to be able to ensure their own energy security and therefore is even the biggest asset to national sovereignty.
And I heard also very loud and clear, and this was also the idea actually when we met at the last climate conference, what is the special asset of the General Assembly, as you underlined here today, that it's not about duplicating processes we are having in other forums, but this is a unique place where we can facilitate the implementation, where we can really share the best practice, where we can be very concrete on moving things which work in one part of the world to the other part of the world.
As the Director of IRENA just underlined, so it's not about duplications, but it's about access for everyone on the implementation and also technology and finance.
And in this regard, I would really like to encourage you also for the next session that we are taking it up, also for the General Assembly Hall in the future.
And I would like to give the final word to our guests, maybe starting with the guest which is also in the house, the ASG, and then the final word to the Executive Secretariat of UNFCCC.
Thank you so much, Madam President.
And I will be very brief as well.
You've summarized it well.
And what I heard today was a very clear consensus that the transition is happening.
It's inevitable.
It's unstoppable.
And we know what those barriers are as it relates to accelerating the pace of the transition.
It's not a problem of political will.
It is not a problem of ambition.
The barriers are well-known: cost of capital, the enabling infrastructure.
And these barriers are not insurmountable.
So as you started, Madam President, what looked impossible a decade ago when we finalized the Paris Agreement and the 2030 Agenda for Sustainable Development, we now know a decade on is inevitable.
And ten years from now, ten years from now, I am 100 percent confident, given the pace of the technology, declining costs, investment trends, that we will truly see a transition on steroids, for want of a better word, a transition where we can finally see an exit from fossil fuels.
And this current crisis, I believe, is the accelerant to that.
Because if you are representing one of those countries that's a net importer of fossil fuels, you know firsthand what this dependence entails: food, fuel, prices on households and industry.
And as the PR from Denmark said, the absolute positive about this current crisis is that we now have a way out.
So I urge all of you to seize that way out.
We have the technologies, but it requires international cooperation and collaboration.
Thank you.
Thank the ASG hard, not only for your contribution today but over the last years.
I now give, as the final speaker, the Executive Secretary of the United Nations Framework Convention on Climate Change, the floor.
Please.
Thank you very much.
And I really want to thank you, Madam President, for convening us here today.
And the timing of this couldn't be more apt as we head down the road to COP 31 in Antalya, where we need to demonstrate what this era of implementation means in practice.
And at the heart of that, central to that, is accelerating the energy transition.
But what we've heard in this room is, in order for us to speed up, we need to address the bottlenecks.
There are technical bottlenecks, grids, batteries, that we need to unlock to speed up, but also on finance, capacity building, and technology transfer, especially to developing countries, to ensure that this transition isn't a two-track one.
And COP 31 provides us with the platform to address this.
Under the presidency of Turkey, with support of Australia, the setting under the action agenda of electrification targets with the focus on grids and storage.
And what we need to leave Antalya with is a feed-in to Addis Ababa for COP 32, leading on to COP 33, which will be the next big political moment with the second global stocktake, where we have to demonstrate that progress has been made from the first global stocktake and what actions are required for further course corrections.
And my final comment is, with all of this, we know what needs to be done.
We simply have to get on and do it.
Thank you.
I thank our distinguished speakers and all delegations for your participations in this briefing.
The informal interactive dialogue of the Assembly is concluded.
See you all at lunch or latest at the COP 31.
In whatever function, the meeting is adjourned.
Thank you.