Global Energy Transition Forum Launches in Davos to Accelerate Renewables and Bridge Africa’s Investment Gap

President Ursula von der Leyen, alongside International Energy Agency (IEA) Executive Director Fatih Birol, unveiled the Global Energy Transition Forum today, reaffirming global commitments to accelerate the shift to renewable energy.

The launch follows the momentum built at COP28, where nations worldwide endorsed ambitious targets to triple renewable energy capacity and double energy efficiency by 2030. With the deadline rapidly approaching, the Forum aims to galvanize action among countries, corporations, and investors.

A Global Coalition for Clean Energy

The Forum has drawn participation from a diverse coalition of nations, including Brazil, Canada, the Democratic Republic of the Congo, Kenya, Peru, South Africa, the United Arab Emirates, and the United Kingdom. Companies and investors have also joined the initiative, united by the shared mission of advancing flagship renewable energy projects and unlocking critical investments to maintain progress in the clean energy transition.

Bridging Africa’s Energy Investment Gap

In her keynote address, President von der Leyen emphasized the importance of ensuring no region is left behind in the global transition. She specifically highlighted Africa’s untapped potential in renewable energy production. Despite holding 60% of the world’s prime solar resources, the continent receives less than 2% of global clean energy investments.

Von der Leyen underscored Africa’s goal of increasing renewable energy capacity fivefold by 2030, urging collective efforts to boost investment and foster energy equity.

Dinner to Focus on Scaling Renewables in Africa

The President will further address Africa’s energy transition challenges at a dinner in Davos this evening. Hosted under the theme of the campaign she launched with South African President Cyril Ramaphosa, “Scaling up Renewables in Africa,” the event aims to explore solutions to mobilize resources and expand renewable energy deployment across the continent.

This initiative represents a critical step in ensuring a just and inclusive transition to clean energy, reinforcing global commitments to sustainability and energy equity.