The signing of the Paris Agreement ten years ago marked a turning point in global climate action. Many actors, including the energy sector, have made significant efforts to move away from fossil fuels and speed up the roll-out of renewable solutions. And yet, as evidenced in COP28’s Global Stocktake, a considerable emission gap keeps our world away from containing global warming to 1.5ºC. To bridge the gap, parties committed to tripling renewable energy capacity and double energy efficiency improvements by 2030. Commitments which must be reflected in the new round of NDCs presented by parties now.
The energy sector stands at the centre of these efforts and while investment in low-emission power generation has almost doubled over the last five years – as per the IEA – new doubts and questions have emerged. Key players in the energy sector and other industries are backtracking in their GEI emission reduction targets and previous announcements to overhaul existing business models are being dropped. Concerns over greenwashing are increasingly undermining credibility.
Companies are being faced with a changing geopolitical landscape where major parties are rolling back climate and clean energy policy incentives. And yet, never before has the alignment between climate action and business opportunities been clearer. Despite mounting political pressure, the need to stay on track is imperative: from a climate and business perspective.
Against this backdrop, the upcoming discussions must provide clarity on how to align corporate strategies with the urgency of the 1.5ºC goal. The Energy Day at COP30 offers a unique space to confront these challenges head-on: restoring trust, ensuring accountability, and charting the path for a just, secure and competitive clean energy transition.
Objectives
- Assess global progress since the Paris Agreement, identifying key gaps revealed by the Global Stocktake and evaluating the urgency of integrating new commitments, such as tripling renewable capacity and doubling energy efficiency into upcoming NDCs.
- Examine the evolving role of the energy sector in achieving the 1.5ºC target, analysing investment trends, corporate behaviour, and the growing risks of backtracking and greenwashing.
- Explore strategies to align corporate climate action with long-term competitiveness, addressing how companies can maintain ambition and credibility amid shifting geopolitical and policy environments.
- Foster dialogue on restoring trust and accountability within the global energy transition, highlighting the importance of transparent commitments and a just, secure, and inclusive pathway toward decarbonisation.
Moderator
Moderator details coming soon.
Speakers
- Miguel Rodrigo, Director of the Spain’s Energy Agency.
- Cristina Rivero, Director General, Spanish Energy Club.
- Gonzalo Sáenz de Miera, President of the Spanish Green Growth Group.
- Belén Santa Cruz, Institutional Relations at MOEVE.
- Representative IRENA (speaker to be confirmed).