Governments' Joint Statement on the launch of Electrify Now

Today, we, the European Commission, the COP30 Presidency (Brazil), the COP31 Presidency (Australia, Türkiye), the COP32 Presidency (Ethiopia), Canada, the Philippines, the Republic of Korea, the United Kingdom, the International Energy Agency and the International Renewable Energy Agency, join forces with industry leaders to launch ‘Electrify Now': a global platform to accelerate the electrification of the global economy. We do so, convinced that rapidly increasing electrification of our homes, industries and transport systems, supported by resilient, modern and flexible grids and storage, powered by clean energy sources, is an immediate strategic and economic priority and a lasting response to the current energy crisis. We invite others to join us in this shared endeavour.

Electric technologies are now widely available, more affordable than ever and their performance continues to improve. Adoption of these technologies will drive a surge in power demand, structurally changing the global energy mix. We are already seeing the scale of this momentum in real time, with global electric car sales expected to grow to 23 million in 2026, representing 28% of total car sales[1]. Through to 2035, electricity demand is projected to grow 4-times faster than overall energy demand growth under today's policy settings[2], and 83% of all new power capacity installed last year was renewable[3]. Investments in electricity supply and infrastructure are expected to reach USD 1.6 trillion in 2026 and rise to USD 2 trillion when spending on end-use electrification is included.[4]

But we must go further and faster. The current energy crisis has once again demonstrated that dependence on unreliable imported fossil fuels can leave countries exposed to geopolitical shocks and built-in price volatility, impacting household energy bills and industrial competitiveness alike. The solution lies in accelerated electrification and clean energy deployment: a pathway to lasting energy security, reduced exposure to volatile fossil fuel markets, vastly improved energy access and huge economic and environmental benefits. The scale of this challenge demands a truly global response that spans regions and development status. Through Electrify Now we will focus attention, reinforce commitments and expand action to drive rapid implementation of electrification and clean energy over the coming years. In this light, we welcome the COP31 Presidency's announcement that in alignment with IEA and IRENA analysis, discussion of a global electrification target of 35% of final energy demand by 2035 will be central at COP31[5][6].

Working together, we will:

1. Unlock ambition across all regions of the globe by showcasing successes, identifying opportunities, securing commitments and strengthening delivery plans.
2. Accelerate clean electrification at scale by working with existing initiatives and partners to address shared policy, regulatory and investment barriers to electrification, grids, storage and renewable energy generation; and
3. Support EMDEs to take full advantage of the strategic opportunity to accelerate their domestic energy resilience and economic prosperity through clean electrification, with the full support of International Financial Institutions (IFIs), philanthropy, the private sector and others.

We invite all governments to join Electrify Now, and for members of industry, IFIs, private finance and beyond – whose capital, expertise and convening power will be essential – to collaborate with us in this crucial endeavour.