Utilities join forces to launch net zero alliance at COP28

At COP28 on Tuesday, 31 partners, including 25 global utilities and power companies launched the Utilities for Net Zero Alliance (UNEZA) to help drive the energy transition.

The utility companies, which together serve more than 250 million customers, have pledged to advance electrification, renewables-ready grids and clean energy deployment. The founding members are led by the UAE’s Abu Dhabi National Energy Company (TAQA) and also include Bui Power Authority, DEWA, DLO Energy, EDF, EDP, E.ON, Enel, Engie, Etihad Water and Electricity, Hitachi Energy, Iberdrola, Jinko Power, KEGOC, KenGen, Masdar, National Grid, Octopus Energy, RWE, Schneider Electric, Siemens, SSE, Tenaga, Uniper and Xlinks. More utilities, developers, power system technology companies and knowledge partners are invited to join the initiative.

Strategic partners are the International Renewable Energy Agency (IRENA), which will lead the secretariat, and the UN Climate Change High-Level Champions.

The companies will work to overcome obstacles to the net zero pathway outlined in IRENA’s World Energy Transitions Outlook and reflected in the 2030 Breakthroughs led by the UN Climate Change High-Level Champions. They will develop an action plan to address challenges, covering supply chain de-risking, capital mobilisation, skills development, as well as facilitating policy and regulatory support.

“IRENA’s World Energy Transitions Outlook makes it clear that tripling renewable power capacity by 2030 is the most realistic way to keep 1.5 degrees C alive. To accelerate the deployment of renewables, we need concerted action to overcome existing infrastructure barriers through the modernisation and upgrade of power grids, as well as transmission and distribution lines that enable the fast electrification of the system,” IRENA director-general, Francesco La Camera said in a statement.

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