In a joint letter, leaders from Europe, Africa, Asia, Latin America and the Pacific reaffirmed their commitment to a just and equitable global energy transition. The declaration stresses that the shift to clean energy is already underway, with global investment in renewables surpassing fossil fuels by a wide margin. Yet it highlights stark inequalities: Africa received just $40 billion of the $2 trillion in global clean energy investment in 2024, leaving 550 million people without access to modern energy by 2030.
The leaders announced the launch of the Global Energy Transitions Forum, a platform to close financing gaps, de-risk investments, and accelerate the deployment of renewables, particularly in developing countries. They called for scaling up initiatives across Africa, Latin America, South-east Asia and small island states, and reaffirmed the COP28 goals of tripling renewable capacity and doubling energy efficiency by 2030. With COP30 in Brazil approaching, the declaration urges governments and the private sector to unite in action, linking the energy transition to growth, jobs, and security.
At the Global Renewables Summit in New York, European Commission President Ursula von der Leyen underlined Europe’s accelerated clean energy transition, spurred by Russia’s war against Ukraine. She recalled that nearly half of Europe’s power now comes from renewables, with solar and wind as the fastest-growing sources, supported by the €100 billion Clean Industrial Deal.
Von der Leyen emphasised Europe’s international partnerships, citing the Italy–Tunisia interconnector, hydrogen corridors in North Africa, and major investments in Kenya and the Caribbean. Through the Global Gateway, the EU will mobilise €300 billion by 2027 to support partner countries’ clean transitions.
Looking ahead, she urged global cooperation to meet the pledge to triple renewables and double energy efficiency by 2030. She invited industry and investors to use the new Global Energy Transition Forum to identify de-risking tools, regulatory support, and capital needs. Her call was clear: only if clean energy benefits all regions can the world truly enter an age of “renewable abundance.”
E-summary by ChatGPT, prompted by Insight EU, based on the documents below.
Joint letter: All hands on deck for the just and equitable energy transition
This is a shift we have been working towards for years. It was reinforced by the collective goals set out at COP28 in Dubai to ensure a fair and just energy transition in line with national circumstances. As renewables and other cleaner forms of energy assume a larger share of the energy mix, the share of fossil fuels will continue to decline.
The situation is clear: a clean energy transition is happening, and it is here to stay. We must ensure it is a just and equitable transition. That is the only approach that will truly be good for the planet, people and innovation. A just transition will help lower costs, promote growth, create new jobs and strengthen local economies. It will also promote energy security, as home-grown energy shelters consumers and businesses from market volatility.
While the overall direction is positive, stark disparities in access to energy and investment remain. Much more needs to be done to ensure the transition not only advances globally but also benefits the people and economies that need it most. Many countries still lack an enabling environment: infrastructure, affordable finance, technology and investment to participate in the clean energy transition.
This is particularly true for countries most vulnerable to climate change. Of the $2tn spent in 2024, only $40bn went to Africa. Although this is twice the 2020 level, it is still woefully insufficient. If we do not act, 550mn people on the continent will remain without modern access to energy in 2030. This uneven progress claims lives. Some 600,000 people in Africa die each year from respiratory disease linked to the use of polluting cooking fuels, perpetuating energy poverty, hindering economic growth and harming the environment.
There are significant funding gaps in South-east Asia. This is a huge opportunity for change and growth, with the region needing an extra $47bn a year in investment and skills development by 2035 to support clean energy.
Small island nations have abundant intermittent resources such as solar and offshore wind, but their transitions are hampered by limited access to affordable storage and to interconnections with international electricity grids.
Latin America offers unmatched availability of natural resources to expand renewable energy and sustainable fuels production. Despite having one of the cleanest energy mixes in the world and advancing efforts to diversify and increase sustainability of its energy sources, the region has only unlocked a fraction of its potential. Fossil fuel dependency, gaps in access to energy and the need to increase stable financing still pose significant challenges.
To bridge the gap and push ahead collectively with the transition, we launched the Global Energy Transitions Forum. It provides a space for governments, international institutions, banks, companies and philanthropies committed to accelerating a just, clean energy transition to work together. Each country has a unique context and a different starting point, so the Forum will be flexible and inclusive, fostering cooperation and alignment in our efforts.
Our shared vision is clear. We will unlock financing and de-risk investments, particularly in developing countries, by lowering costs, attracting capital and closing the financing gap, in close partnership with international financial institutions and development banks.
We will also strengthen collaboration across existing initiatives, including the Global Clean Power Alliance, the Global Coalition on Energy Planning and the Global Energy Efficiency Alliance, to ensure greater synergy and coherence in driving the global energy transition.
This includes amplifying efforts led by African, Latin American, South-east Asian and Pacific countries — such as the Accelerated Partnership for Renewable Energy in Africa, the Africa Energy Transition Programme, the African Green Industrialisation Initiative and the ASEAN Power Grid — and other home-grown initiatives that are already charting a path towards clean energy and economic growth. Through these, we can exchange best practice and learn from one another.
We will also scale up local manufacturing and the deployment of renewables and clean energy alternatives. This will focus on developing countries, which will be at the heart of our aim to reach 11TW of global installed renewable energy capacity by 2030.
By stepping up our efforts to meet our voluntary collective goals — including the COP28 goals to triple renewable energy capacity and double energy efficiency by 2030, including scaling up the production and use of sustainable fuels to replace fossils alternatives — we will foster economic growth while protecting our planet. Most importantly, we will work to ensure a just distribution of clean energy and the opportunities it creates.
As we head towards the crucial COP30 in Brazil later this year, the preparation of post-2030 Nationally Determined Contributions (NDCs) presents an opportunity to raise ambition, build on existing commitments and set a path beyond them for the next decade. But we must also translate NDCs into action and investments on the ground that can transform lives and strengthen communities. This includes advancing reforms to the global financial architecture to ensure that multilateral finance and transition- finance mechanisms support the implementation of NDCs and the broader COP30 outcomes.
This is the decisive decade. The choices we make today will determine whether we seize this unprecedented opportunity for economic transformation or allow inertia to hold us back for years to come. The Global Energy Transitions Forum is a platform to drive clean energy access and ensure just, sustainable and inclusive energy transitions.
We call on leaders and the private sector to support this shared endeavour and unite in action. Together, we can unlock a more sustainable, equitable and prosperous future for all.
Signed by:
Anthony Albanese, Prime Minister of Australia
Muhammad Yunus, Head of the Interim Government of Bangladesh
Mia Mottley, Prime Minister of Barbados
Luiz Inácio Lula da Silva, President of Brazil
Mark Carney, Prime Minister of Canada
Judith Suminwa, Prime Minister of Democratic Republic of Congo
Ursula von der Leyen, President of the European Commission
Dickon Mitchell, Prime Minister of Grenada
Laurent Saint-Cyr, Chairman of Transitional Presidential Council of Haiti
Andrew Holness, Prime Minister of Jamaica
William Ruto, President of Kenya
Jonas Gahr Støre, Prime Minister of Norway
Philip J. Pierre, Prime Minister of Saint Lucia
Ralph Gonsalves, Prime Minister of Saint Vincent and the Grenadines
Cyril Ramaphosa, President of South Africa
Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Keir Starmer, Prime Minister of the United Kingdom
Yamandú Orsi, President of Uruguay
Fatih Birol, Executive Director of the International Energy Agency
Francesco La Camera, Director-General of the International Renewable Energy Agency
Source – EU Commission
Speech by President von der Leyen at the Global Renewables Summit
New York, 22 September 2025
Dear Andrew Forrest,
Dear Prime Minister Davis,
Dear Ambassador Corrêa do Lago,
Thank you, Andrew, for your kind introduction
Excellencies,
It is a pleasure to open this session on Renewable Energy Abundance. Our discussion is very timely. Because the energy transition has truly taken off. In 2024, almost EUR 2 trillion were invested worldwide in clean energy.
For every Euro spent on fossil fuels, more than two went into clean energy. The economics are clear. 90% of new renewable projects generate power more cheaply than fossil fuels. Solar is now 41% cheaper than the lowest-cost fossil alternative. So yes, the momentum is real.
But momentum alone is not enough. To usher in a true age of renewable abundance, with clean, affordable energy for all, we must act decisively. Together, as governments and industry. And together, as partners across continents. Because clean energy is not only about addressing climate change. It is about security. And it is about prosperity.
So let me focus on three points. The transformation that is underway in Europe. The partnerships we are building across continents. And what more we must do together globally.
First, if you look at Europe’s experience, before the war in Ukraine, 45% of our gas supply came from Russia, 50% of our oil supply and 50% of our coal. Eight weeks into the war, and as you recall, we faced a severe energy crisis. Now, Russia wanted to put pressure on us that we do not support Ukraine. You know the opposite happened. We are staunch supporters of Ukraine. And our response to this energy crisis was not to retreat, but to accelerate. We diversified, and we doubled down. We massively invested in renewable energy. And we knew this was not only good for the climate, but because the renewables are the most secure and affordable option in the long term, we knew this is homegrown energy, and it also creates good jobs at home, so we invested in it. Today, almost half of Europe’s power comes from renewables. Solar and wind are our fastest-growing sources. And with our Clean Industrial Deal, we are mobilising over EUR 100 billion to help industries innovate and adapt.
So my message is, we are staying the course. This ambition and stability are attracting capital. Investments in renewables grew by 63% this year alone. But we know there is more work to be done. We are working to strengthen our grids, so the benefits of clean affordable power can reach every corner of our Union.
Second, our work with partners. Greater independence does not mean isolation. Across continents, new connections are being built.
The ELMED interconnector between Italy and Tunisia will be the first direct current link between Europe and Africa. In North Africa, projects such as the ones championed by you, dear Andrew, are creating a “Green Corridor” for clean industry and hydrogen. These projects are win-win-win. They deliver on our climate goals, create clean jobs on both continents, and strengthen energy security.
That is why the energy transition should be at the heart of our international agenda. Through Global Gateway, we will mobilise EUR 300 billion by 2027. This is about long-term partnerships that deliver change on the ground. In the Caribbean, hydrogen technologies are stabilising renewable power supply
In Kenya, we are investing EUR 3.4 billion in climate and nature projects, to support the government’s goal of 100% clean power by 2030. These are just a few examples, but our approach is simple. As we share the same interests and ambitions, we want to work together with you.
Finally, more can be done globally. Earlier this year, we launched the Global Energy Transition forum. This is a place to work together as partners. As you might recall, we have promised on a global stage that we want to triple renewable energy by 2030, and we want to double the energy efficiency. So this forum is to sustain political momentum and track delivery of our commitments. Because only what gets measured, gets done. We all know this by experience. So, we are keeping track in this forum, all of us together, that we really deliver on the ground.
That means working closely with industry and investors, to unlock renewable projects in developing countries. We know the barriers – high capital costs, risk premiums, and unstable investment conditions. But we can, of course, de-risk. We can blend. We can leverage. And the de-risking by the public side is of utmost importance.
So my message to the CEOs and investors here today is this – Tell us what you need. What guarantees, risk-sharing tools, or regulatory conducive environment that you need, we can provide, that would allow you to invest at scale where it matters most? And what must governments do to help you deliver? And in return, we ask you to commit. To put your capital, your technology, and your innovation to work in the regions where it will have the greatest impact. So that together we deliver on net-zero, to strengthen energy security, and to drive prosperity.
Because only if the benefits are truly global can we speak of a new age of renewable abundance.
Thank you and I look forward to continuing our joint work.
Source – EU Commission