Continued progress in clean energy technology is also critical. Increased public and private investment and rapid commercialization in advanced energy storage, green hydrogen production and next-generation solar cells should be prioritized. Sharing best practices to address supply chain challenges for clean energy technology offers another low-cost mechanism to advance clean energy development and deployment. Finally, robust monitoring and accountability systems for tracking and reporting on clean energy deployment are vital. To ensure the needle moves in the right direction, mechanisms to hold countries accountable for their renewable energy commitments should be considered. Yet although the NCQG from COP29 is a step forward, the clean energy investment gap remains significant. Concessional finance to support clean energy projects in developing countries must be scaled up. Developing innovative financing mechanisms to attract private capital is critical. The transition to a climate-resilient future hinges on an unprecedented mobilization of equitable and innovative climate finance. In the absence of transformative financial commitments, the road to COP30 in Belém risks encountering unmanageable obstacles in the global effort to supply clean energy to adapt to and mitigate the massive harms from a dangerously warming planet.
ELLA KOKOTSIS, PHD EllaKokotsisservesastheDirector, Climate Finance Strategy at the GlobalGovernance Program, University of Toronto. With nearly three decades of experience attending G7 and G20 summits, Ella has established herself as a leading expert in summit compliance and accountability. Her scholarly contributions include numerous publications on global summitry, and she is frequently invited to present her insights at conferences focused on global governance policy. Ella is the author of Keeping International Commitments: Compliance, Credibility and the G7, co-author of The Global Governance of Climate Change and Reconfiguring the Global Governance of Climate Change, and co-editor of Financing a Just Transition, with John Kirton. Ella holds a PhD in international politics from the University of Toronto.
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THE FUTURE OF ENERGY
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