The newly launched Global Energy Transition Forum aims to serve as an international focal point for renewables development and convert targets into concrete projects.
Announcing the Forum’s launch at Davos, European Commission President Ursula von der Leyen said, “The Forum is all about connecting the dots, so we can learn from each other and exchange best practices, and support projects that jump start new clean energy industries and scale up clean energy globally.”
While Europe has made significant strides, with 50% of its electricity now coming from reneawbles, the global picture is uneven. Africa, despite being rich in solar and natural resources, has attracted only 2% of global clean tech investment and 600 million people still lack access to electricity.
President Von der Leyen said the Forum would support “flagship initiatives” and strive to champion “smarter financing and derisking tools” to help projects reach FID.
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