Businesses warn that weak national climate plans (NDCs) risk losing investment and economic opportunities.

Brussels, February 10, 2025: Today being the official deadline for updated national climate plans (NDCs), the private sector is calling on governments worldwide to seize the opportunity to set ambitious, specific, and investible renewable energy targets in their national plans. Business leaders from across sectors – including energy buyers, suppliers and investors – emphasise that strong NDCs are not just climate commitments, but potential national investment plans for renewables that can drive energy security, economic growth, job creation and global competitiveness.

“Governments still have time to get this right – it is better to have good plans than fast plans.The private sector is ready to invest in renewables, but we need clear policy signals through ambitious, long-term energy plans,” said Bruce Douglas, CEO of the Global Renewables Alliance. “Weak commitments mean falling behind in the booming clean energy economy.”

Since the first NDCs were introduced in 2015, the clean energy revolution has gained unprecedented momentum. Renewables now dominate new power capacity, generating more than 30% of the world’s electricity, battery costs have plummeted by 90%, and investments in energy transition surpassed $2 trillion in 2024. However, the investment curve is flattening and current national plans will deliver only half of the required growth in renewables by 2030. 

Without strong, longterm enabling frameworks, a slowdown in deployment will put global energy targets out of reach. Businesses are ready to scale up solutions – but they need certainty from governments.

“Strong NDCs mean strong economies,” said Gonzalo Saenz de Miera, Director of Climate Change and Alliances at Iberdrola. “Countries that set clear renewable energy targets will attract investment, create jobs, and secure their place in the global clean energy transition.”

While some countries, including the UK and Brazil, have submitted new NDCs, a majority of the 195 signatories to the Paris Agreement are still finalising their plans. The private sector urges governments to use this time wisely – ensuring plans are ambitious, actionable, and aligned with the scale of the clean energy opportunity.

“All major economies should take the lead and set their targets well before the UN General Assembly in September 2025,” said Bruce Douglas. “This will kick off a global race to the top in climate ambition and send the right signals to investors, as we’ve already seen with some first movers.”

With the market for clean energy technologies set to triple in the next decade, the choice is clear: step up with ambitious climate plans or risk falling behind. Business leaders across the sector are clear: the private sector stands ready to invest, but strong policy frameworks are essential to unlock the full potential of renewables.

“Renewables are the fastest and cheapest route to new power capacity,” said Michael Hannibal, Partner in Copenhagen Infrastructure Partners. “With energy demand rapidly surging, ambitious and actionable NDCs are the most direct pathway for countries to deliver reliable and affordable energy to consumers and industry while bolstering domestic growth and job creation.”

“Setting clear renewable energy targets is a foundational step to secure our energy future,” said Morten Dyrholm, Senior Vice President of Marketing, Communications, Sustainability and Public Affairs at Vestas. “More renewables will ensure that our energy systems are secure, affordable and reliable. Without decisive action and a strong focus on sustainable implementation, we will be left with only ambitions.”

Over 200 organisations support a call on governments to Now Deliver Change by setting ambitious, specific and actionable renewable energy targets in the updated national climate plans – NDCs –  to the Paris Agreement. See more about the campaign and its supporters: https://globalrenewablesalliance.org/now-deliver-change/