Ministerial Panel

COP29 was a turning point in climate action. It set ambitious finance goals and needed to deliver clean energy transitions for all economies. It set bold finance goals and aimed to deliver clean energy transitions for all economies. A target of $300 billion each year has been set to help vulnerable nations build resilience, expand energy access, and promote sustainable development. Looking forward, leaders in the energy sector and policymakers must join forces. They need to raise the ambition of the next Nationally Determined Contributions (NDCs) before COP30. To limit climate change impacts, NDC creators should maximise their technical ambitions. This means setting bolder targets and aligning them with national policies. Stronger NDCs can guide national climate action and speed up the global shift to clean energy technologies. What opportunities and challenges lie ahead? What role can the energy sector play in inspiring more ambitious targets?

Energy Talk

The US has emerged as a global leader in decarbonisation, driven by generous investment incentives. However, recent political changes signal shifting policy priorities, raising concerns about reduced support for low-carbon initiatives. Potential cuts to EV incentives, slowed progress in green hydrogen and CCUS, and expanded fossil fuel generation could reshape the energy landscape. How will these changes impact investors, technology developers, and the broader energy transition?

Energy Talk

As global targets push to triple renewable energy capacity and double energy efficiency by 2030, securing sustainable finance has never been more critical. Recalibrating the global energy system presents both challenges and opportunities for stakeholders. Collaboration across investor types—private equity, multilateral institutions, and public funds—is essential to mobilise capital at scale. How can sustainable finance be de-risked to attract more investment and support energy transition efforts in both developed and developing markets? The UAE recognises the need for bold climate investments and sees this shift as a catalyst for economic growth. Its commitment includes bridging the financing gap through sustainable financing by UAE banks by 2030 and contributions to the International Monetary Fund’s Resilience and Sustainability Trust to support climate-vulnerable nations.

Energy Talk

The global energy transition narrative has long been dominated by discussions on technology and investment, but true progress requires placing people at the center of the conversation. The transition is not just about deploying renewables and scaling infrastructure—it’s about wider and wiser energy use, ensuring affordability, and addressing the real-world needs of communities.

As climate change accelerates, adaptation must go hand in hand with mitigation. Achieving net zero CO₂ emissions by 2050 demands more than just policy commitments—it requires broader collaboration and inclusive leadership to drive a faster, fairer, and more impactful transition. It is also necessary to engage energy users, moving beyond a supply-centric approach to one that reflects diverse regional realities and multiple pathways to sustainability.

Global Leadership Panel

The global energy landscape is evolving rapidly with ambitious climate targets and technological advancements driving the transition to a low carbon future. Yet against a backdrop of rapidly rising energy demand, a key question remains: Are we on track to meet our 2030 goals? Members and partners of the Utilities for Net Zero Alliance (UNEZA), launched at COP28, recognise that accelerating the utility sector’s global energy transition requires directly addressing structural, regulatory, and financial barriers. To limit global temperature rise to 1.5°C, CO₂ emissions must fall by nearly 50% from 2019 levels, with the energy sector playing a pivotal role. IRENA (2024) outlines that achieving this target requires tripling renewable energy capacity, doubling energy efficiency, and scaling energy grids and flexibility solutions, with annual investments of USD 717 billion. Additionally, global energy storage must expand six-fold by 2030, reaching 1,500 GW. Furthermore, what is the role for nuclear? The IEA Net Zero by 2050 roadmap indicates that nuclear energy will nearly double its share by 2050, with annual capacity additions reaching 30 GW in the 2030s. At COP28, more than 20 countries pledged to triple nuclear capacity by 2050, with banks and nuclear industry players signalling their support for the pledge more recently. As a driving force behind modernising utilities, UNEZA leaders will explore strategies to accelerate the energy transition and help deliver on the commitment to tripling renewable capacity by 2030.

Ministerial Panel

Our climate future largely depends on whether Emerging Markets and Developing Economies (EMDEs) can successfully transition to cleaner energy systems while ensuring energy access for all. The IEA’s Clean Energy Transitions Programme turns targets into action, accelerating progress towards the goal of global net zero emissions through secure and people-centered clean energy transitions, focusing on major emerging and developing economies. In developing countries utilities struggle to meet growing power demands and integrate renewable energy sources into their grids, a necessity for achieving universal access to clean, reliable, and affordable electricity for all. However, these regions attract only a fifth of global clean energy investments due to higher real and perceived risks, including political instability, regulatory barriers, unreliable off-taker arrangements, foreign currency volatility, and grid integration issues. These risks drive up the cost of capital, constraining financial flows and hindering socio-economic development. Supportive policies and international collaboration are crucial to overcoming financial constraints and fostering sustainable growth. By prioritising energy security, environmental responsibility, and economic development, emerging economies can build resilient, competitive utility sectors that align with global sustainability goals.

Energy Talk

The global energy industry is undergoing a radical transformation, balancing energy security with decarbonisation goals. Natural gas and LNG remain essential, providing stability and flexibility to integrate renewables and meet rising demand. Meanwhile, hydrogen and low-carbon fuels are emerging as crucial solutions for decarbonising hard-to-abate sectors. According to a 2024 report from IRENA, energy transition is progressing in most hard-to-abate sectors, yet they are still off track to meet net-zero scenarios by 2050, which is the objective of the 2015 Paris Agreement in a bid to limit global temperature increases to 1.5ºC since the start of the industrial era. Achieving progress requires coordinated action on infrastructure, regulation, and equitable energy access to ensure a secure and sustainable future.

Global Leadership Panel

Water scarcity presents both a challenge and an opportunity to redefine how we manage our most vital resource. Sustainable and circular water management strategies are paving the way for transformative solutions, focusing on water conservation, efficient resource management, and supply enhancement. Innovative practices such as water recycling and reuse are gaining traction across residential, commercial, industrial, and construction sectors. Onsite water reuse systems are significantly reducing water consumption, while businesses and large-scale construction projects are incorporating recycling solutions to meet environmental goals and reduce operational costs. In the energy sector, power plants are minimising freshwater withdrawals by adopting water reuse, enhancing climate resilience and the sustainability of energy production. Efficient resource management and these forward-thinking practices are reducing the strain on infrastructure, increasing climate resilience, and delivering long-term economic benefits.

Industry Dialogue

The energy sector is on the brink of a flexibility revolution, where the ability to adapt, respond, and optimise will redefine the entire power value chain—from generation to demand. Flexibility is no longer an option but a necessity. By 2050, energy storage is expected to meet over 50% of global flexibility needs, while $21 trillion (WEF) in grid upgrades will be essential for modernising infrastructure. Demand response is shifting from a passive adjustment to an AI-driven, real-time balancing tool, empowering consumers to actively shape grid stability. Hydrogen and advanced storage technologies will lead the long-duration energy transition, while natural gas remains a key stabiliser. The future hinges on overcoming interconnection bottlenecks, accelerating digitalisation, and fostering cross-border collaboration, paving the way for a more responsive, resilient, and sustainable energy system.

Global Leadership Panel

As the global energy landscape shifts toward a cleaner and more resilient future, power interconnectivity is becoming the backbone of this transition. Modernised, interconnected grids enable seamless cross-border energy flows, ensuring the efficient integration of renewable sources while enhancing reliability and reducing transmission losses. With global grid investments projected to reach $2 trillion over the next decade (IEA), utilities must navigate rising costs, regulatory complexities, and infrastructure expansion to unlock the full potential of interconnection. Leveraging Distributed Energy Resources (DERs) and smart grid technologies will be critical in optimising energy flows, improving efficiency, and fortifying grid resilience. However, challenges such as transmission bottlenecks, lengthy interconnection queues, and the need for enhanced cross-border collaboration must be addressed to create a truly integrated energy system; one that delivers stability, affordability, and sustainability for the future.