Green Grids Initiative
The Climate Parliament has been working since 2014 to increase the speed and scale at which green grids infrastructure, critical for a world powered by renewable energy, is built globally. We conceived and helped to launch the Green Grids Initiative (GGI), which was announced at COP26 in Glasgow by the UK Presidency in partnership with India’s One Sun One World One Grid project. The One Sun Declaration issued by the prime ministers of India and the UK together with other world leaders in Glasgow has been endorsed by more than 90 countries. We remain a core part of the global Secretariat for the initiative and a member of the GGI Ecosystem, working independently with legislators, civil society and business leaders to build the political will required to achieve the initiative’s goals. In 2023, we are focussing on a critical challenge for scaling green grids globally - investment.
GREEN GRIDS INVESTMENT
BloombergNEF estimates that $21.4 trillion needs to be invested in electricity grids by 2050 to support a net-zero trajectory for the world. At least as much will be needed to build the large-scale solar and wind installations that, combined with small-scale solar, can power those grids with renewable energy. Most of the investment will have to come from the private sector. But private investors will only deliver low-cost capital to build green grids if governments create a secure legislative and regulatory framework for investment. To ensure a safe future for humanity, this must be done without delay in all parts of the world. The recent increase in interest rates for green investments in developing countries only makes this work more urgent. If so, private and public investors need to be in constant dialogue with lawmakers and regulators about what steps are needed to attract green grids investment on a massive scale. The Climate Parliament is convening this dialogue.
What investors are saying
CEO & Investor Council
Launched on the sidelines of the Luxor Forum, the Climate Parliament CEO & Investor Council was established to explore the creation of consortia of developers, manufacturers and investors to propose and build massive solar power stations and wind farms, and long-distance transmission.