Baku, Azerbaijan, November 12, 2024: Today at COP29, the Global Renewables Alliance (GRA) issued a Call to Action urging world leaders to address critical trade barriers that limit the expansion of renewable energy markets and threaten the target achievement of tripling renewable energy capacity by 2030. Against a backdrop of supply chain disruptions and rising trade tensions, GRA’s call emphasises the need for open, resilient, and equitable policies to fast-track the global energy transition.

With speakers including Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), Ben Backwell, the Chair of the GRA and CEO of Global Wind Energy Council, and other senior representatives on GRA’s panel exchanged on the vital role that fair trade and trade-friendly policies will play in delivering the goal of tripling renewable energy capacity by 2030. Ana Rovzar, Head of Policy and Partnerships at GRA, chaired the session and highlighted that overcoming trade barriers and supply chain bottlenecks will be vital to deliver the transition to a clean energy economy.

“The clean energy industry stands at a critical inflection point,” said Rovzar. “Renewables deployment must scale up rapidly to meet our tripling goals, and the global coordination of industrial trade policies will be instrumental to that. Trade policy encourages growth and innovation of the renewable energy industry and is essential for a just and timely energy transition.”

The GRA Call to Action focuses on three urgent policy measures:

1. Global Policy Coordination on Renewable Energy Development: GRA calls for enhanced international dialogue on renewable energy development policies to prevent market distortions and encourage global capacity expansion. Collaboration through multilateral frameworks can speed up the creation of harmonised industrial policies that align with the market-based principles of the global trade regime.
2. Engage Renewable Energy Industries in Global Efforts to Remove Tariff and Non-Tariff Barriers on Environmental Goods: The Call to Action urges global leaders to engage with industry leaders in on-going global efforts to remove damaging trade barrier on groods and services vital to the energy transition.  
3. Support for Green Industrialisation in Emerging Markets: GRA advocates for policies that enable emerging economies to manufacture, trade, and deploy renewable technologies, which could generate significant employment and drive sustainable growth.

The high-level panel also discussed recent findings, including insights from the UAE Consensus report by IRENA, GRA and the COP28, COP29 and COP30 presidencies, which underscores the urgent need for trade cooperation to stabilise and grow strong, robust and diverse global renewable energy supply chains for energy security, affordability and sustainability.

The GRA’s Call to Action, combined with GRA’s ongoing discussions with partners, aims to define priorities ahead for sustainable trade practices that informs upcoming decision-making fora, including at the G20 and COP30. GRA is committed to driving forward these efforts to ensure the renewable energy sector can continue growing while delivering on promises of a just and inclusive energy transition.

See the call to action: https://globalrenewablesalliance.org/wp-content/uploads/2024/11/TRADE-Call-to-Action-COP29-11.11.2024-2.pdf