Joint article on Just Energy Transition Partnerships 

The below joint article on Just Energy Transition Partnerships is signed from Minister for Development Anneliese Dodds (UK), Assistant Secretary of the Treasury for International Markets Alexia Latortue (US), State Secretary Jochen Flasbarth (Germany), Deputy Minister of the Environment and Energy Security Vannia Gava (Italy), Secretary of State for Francophonie and International Partnerships Thani Mohamed Soilihi (France) Climate Ambassador Catherine Stewart (Canada) and Director General Climate Action, Kurt Vandenberghe (European Commission).Leaders from around the world were at COP29 last November, working together to tackle the biggest challenge of our lifetimes – climate change. Energy generates three quarters of the world’s greenhouse gas (GHG) emissions. But there is promising news. Technological advances and economies of scale mean that clean energy options are now the cheapest sources of power, making a rapid clean energy transition not just possible, but common sense.We know that standing still is not an option. The world is moving inexorably in the direction of low carbon energy. Increasing numbers of multinational companies are seeking to manufacture and operate using low carbon energy to power their industries. Increasingly, investments – and the good, decent jobs they create, including high quality jobs for women – will go where emissions are low. Without the investment in clean energy infrastructure now, countries that fail to adjust will be left behind as global markets demonstrate a preference for low carbon energy options.We also know that public resources are not sufficient to address the magnitude of the energy transition challenge. We must mobilise private investment. This is reflected in the global climate finance goal agreed at COP29 – the New Collective Quantified Goal. Many renewable energy investments are commercially viable with the right enabling environment. This is why the International Partners Group (IPG- consisting of Canada, Denmark, France, Germany, Italy, Japan, Norway, The Netherlands, UK, US) of donor countries is working hand in hand with investors who are part of the Glasgow Financial Alliance for Net Zero (GFANZ). We are working to identify investible opportunities and support partner countries to put in the place the policies that can unlock opportunities at the scale needed.An energy transition that reduces GHG emissions also helps achieve long-term energy security and fuels high-quality economic growth that will improve the lives of the world’s poorest people. This is why we are engaging in Just Energy Transition Partnerships (JETPs) with countries that have set ambitious targets to accelerate their energy transitions, build up renewables, update and improve their grid networks, and implement country-led strategies to move away from fossil fuels in a way which supports inclusive growth. JETP are important tools to support the transition away from fossil fuels in line with the historic dec