Bel©m: The global investments in clean energy are projecting a 1 trillion dollar for grids, storage toward quadrupling sustainable fuels by 2035. This is contained in an executive summary of the outcomes report on Global Climate Action Agenda at the 30th Conference of Parties in Bel©m, Brazil.
According to News Agency of Nigeria, the developing countries are leading the race on industrial decarbonisation, with tens of thousands of electric vehicles, thousands of gigawatts of renewable energy, hundreds of clean industrial projects, and novel carbon removal technologies. Under the COP30 Global Climate Action Agenda, the Green Grids Initiative launched at COP26 and the Utilities for Net Zero Alliance (UNEZA) launched at COP28, united with the Clean Energy Ministerial, IRENA, the IEA, and others to deliver a global plan.
The global plan is designed to accelerate the expansion and resilience of power grids and invest 1 trillion U.S. dollars to triple their collective renewable capacity by 2030. This shift aims to transition the energy, transport, and industry sectors away from fossil fuels, enabling increased energy access.
The report highlights that hundreds of million hectares of forest, land, and ocean were protected or restored while millions of farmers transitioned to regenerative agriculture practices. It also mentioned that traditional communities and Afro-descendant groups secured land rights for millions of indigenous peoples. A total of 9 billion U.S. dollars in committed investments covered more than 210 million hectares of land.
Additionally, the report states that 12 million farmers across more than 90 agricultural and food commodities are building resilience across entire value chains in over 110 countries by 2030, aiming to steward forests, oceans, and biodiversity, and transform the agriculture and food systems.
The report also pointed out that 437.7 million people became more resilient through the race to resilience campaign. Furthermore, 162 companies, cities, and regions covering 25,000 buildings and 400 billion U.S. dollars in annual turnover cut over 850,000 tonnes of CO2 in 2024, surpassing one million tonnes reduced in total.
The CHAMP coalition launched at COP28 delivered two-thirds of new nationally determined contributions with stronger subnational and urban content among its 78 members. Millions of jobs were created, and new skills were developed to build resilience for cities, infrastructure, and water while fostering human and social development.
According to the report, trillions of dollars pivot into the transition with new partnerships and innovation to scale finance from the private sector, governments, and financial institutions, including for adaptation finance. This is how climate action begins to function as an economy in its own right, one that unleashes finance, technology, and capacity-building to reward protection and long-term stability.
