24/7 Carbon-Free Energy presented at CEM as key solution for a cleaner and more resilient energy system!
20 JULY 2023 – Goa, India – The 14th Clean Energy Ministerial (CEM) held in Goa, India, marked a significant milestone in the global transition towards a sustainable and carbon-free energy future.
The side event ‘Towards a 24/7 Carbon Free Energy Future’ presented the benefits of hourly matching of clean energy supply and demand and discussed a proposed new CEM workstream 24/7 CFE and the establishment of a Global Coalition for high impact corporate sourcing. This signals a united effort by the Global Renewables Alliance, UN-Energy and Sustainable Energy for All to achieve a cleaner and more resilient energy system.
The 24/7 CFE procurement strategy is supported already by some of the leading global players in space, such as RE100, IRENA, SEforALL, EnergyTag, WBCSD, Eurelectric, RE-Source and ACEC. The proposed CEM workstream and Global Coalition aim to engage partners in the implementation of their procurement strategy. At the same time, it will be contributing to the ongoing efforts of the 24/7 Carbon-Free Energy Compact commitment to the United Nations to expand and internationalize in the Global South, and the existing Global Renewables Alliance activities in high-impact corporate sourcing.
“The global transition to 24x7 Carbon Free Energy requires all countries and sub sectors to participate and the role of UN-Energy 24x7 Carbon Free Energy Compact in driving this network approach is catching much needed momentum which can deliver energy security gains.” said Ms. Kanika Chawla, Director and Chief of Staff, Sustainable Energy for All.
The 24/7 Carbon Free Energy Compact was launched at the High-Level Dialogue on Energy, held by UN Energy in September 2021, as an ambitious global one-stop coalition of 127 signatories (energy buyers, energy suppliers, governments, system operators, solutions providers, investors, and other organizations) advocating for policy change and policy reform to meet their total electricity demand with carbon-free resources - every hour, every day, everywhere.
Launched at COP27 in Egypt, the Global Renewables Alliance (GRA) brings together the leading industry players in renewable energy who are unifying their voice for an impactful energy transition. Mr. Bruce Douglas, CEO, Global Renewables Alliance discussed his vision: “A Global Coalition will raise awareness in high impact corporate sourcing and help deliver best practices and training to new markets. Matching renewable energy supply and demand on a sub hourly basis (24/7 CFE) can accelerate decarbonization, bring increased transparency and accuracy to carbon accounting and incentivize innovation, storage, and flexibility” he said.
The need for 24/7 Carbon-Free Energy has become increasingly crucial, driven by the pressing challenges posed by climate change and the pursuit of a sustainable and resilient energy future. Transitioning to Carbon-Free Energy sources, combined with energy storage and flexibility, is not only vital for mitigating climate change, but also energy security and building long term energy independence. It also offers the roadmap to unlocking sustainable economic growth and wider energy system benefits, supports the development of a skilled and green workforce and tangible health advantages amongst others.
The meeting concluded with an understanding that achieving 24/7 carbon-free energy requires collaboration, innovation, and inclusive policies. Market barriers, regulatory stability, and demand-driven businesses are key considerations for success and all key stakeholders need to work together to leverage the global community's strength.