The COP31 presidency has launched an ambitious global initiative to accelerate the electrification of the world economy, setting a target to increase electricity’s share of final energy consumption from around 23% currently to 35% by 2035.
The Global Electrification Pledge, unveiled at the annual United Nations climate summit, aims to accelerate the transition towards cleaner energy by expanding the use of electricity in transport, buildings and industrial operations.
The initiative is designed to strengthen energy security, improve access to electricity, reduce consumer costs and cut greenhouse gas emissions, as countries seek to limit global warming to 1.5°C above pre-industrial levels.
COP31 President Murat Kurum said the recent energy crisis had exposed the vulnerabilities of countries heavily dependent on imported fossil fuels and underlined the need for a faster transition towards electrification.
“We need the 35-by-35 target because until now electrification has not been underpinned by a clear global goal,” Kurum said.
“This year’s energy crisis has shocked us out of our complacency and demonstrated the inherent vulnerability of dependence on energy imports. Electrifying the global economy is now essential to boost energy security, cut emissions and drive economic growth.”
He described COP31 as an opportunity to turn global commitments into practical action, adding that the summit should be remembered as the moment the world accelerated its transition into an “age of electricity”.
COP31 President of Negotiations Chris Bowen said electrification must be supported by clean electricity generation, stronger power grids and energy storage infrastructure.
“Ambition matters, but it must be backed by investment, infrastructure and implementation,” Bowen said.
Global investment and infrastructure drive
The COP31 presidency is working with the European Union to establish an international Electrification Forum, bringing together governments, financial institutions, businesses and investors.
The forum will continue beyond the climate summit as a regular platform for coordinating investment and implementation. An Electrification Board, chaired by the COP31 presidency, will oversee the initiative, with the International Energy Agency (IEA) serving as its secretariat.
The IEA will also lead a Global Electrification Tracking Mechanism to monitor progress at international and regional levels.
IEA Executive Director Fatih Birol said electric technologies were increasingly cost-competitive and could improve energy security, particularly for countries dependent on imported fuels.
He said the agency would provide data-driven analysis supporting the 35-by-35 target and monitor progress in the years ahead.
The International Renewable Energy Agency (IRENA) will support developing countries through its Enabling Distribution Grids for Electrification (D-GRIDS) programme.
The initiative aims to help countries identify electricity distribution investment requirements, prepare viable infrastructure projects and secure financing.
IRENA Director-General Francesco La Camera said stronger distribution networks would be essential to integrating renewable electricity and expanding electrification.
He said the programme would work with international partners and the Utilities for Net Zero Alliance to accelerate grid development.
Meanwhile, the Utilities for Net Zero Alliance has increased its annual investment commitment in electricity grids, renewable energy and storage from $148bn to $156bn.
SSE chief executive and UNEZA co-chair Martin Pibworth said clean electrification could deliver lower energy bills, stronger energy security and greater economic resilience.
Developing economies in focus
The COP31 presidency is also placing developing economies at the centre of its electrification agenda.
Türkiye and Australia have worked with Sustainable Energy for All (SEforALL) to assess the opportunities and challenges facing emerging markets and developing economies.
A new report, titled The Electrification Opportunity, examines how electrification could support industrialisation, employment, improved livelihoods and greater energy independence.
SEforALL chief executive and UN Secretary-General’s Special Representative Damilola Ogunbiyi said electrification offered developing countries an opportunity to strengthen their economies while reducing dependence on imported energy.
Financing remains a major challenge, particularly for countries that lack sufficient domestic resources to modernise electricity networks and expand renewable generation.
To address this, the COP31 presidency is helping establish the Electrify Now Finance Coalition, bringing together governments, development banks and private investors.
The World Bank and African Development Bank are expected to serve as the coalition’s inaugural co-chairs in 2027.
The Organisation for Economic Co-operation and Development (OECD) is also supporting the initiative through policy assessments on financing electrification and the economic benefits of accelerating the transition.
OECD Secretary-General Mathias Cormann said rising electricity demand would require substantially greater investment in power generation, transmission networks and energy storage.
He stressed that predictable policies, efficient regulation and a pipeline of commercially viable projects would be necessary to attract private capital on the scale required.
Businesses signal support
The private sector is also stepping up its backing for the global electrification drive.
The We Mean Business Coalition has mobilised more than 180 companies, including Volvo, Uber, IKEA and Siemens, with combined annual revenues exceeding $1.69 trillion, in support of electrification.
Coalition chief executive Maria Mendiluce said businesses were increasingly viewing electrification as a major economic transformation.
She warned that countries failing to make electrification affordable and commercially viable risked missing out on future industrial investment.
Separately, the Global Renewables Alliance is bringing governments together to showcase national electrification plans.
Its chief executive, Bruce Douglas, said every day of the latest fossil fuel crisis was costing energy-importing countries an additional $1.8bn.
He argued that renewable-powered electrification could protect consumers from volatile fossil fuel prices and strengthen national energy security.
The COP31 presidency has also launched a Global Green Freight Corridors Initiative in partnership with the International Transport Forum to promote cleaner and more resilient freight transport networks.
Further announcements are expected during the summit’s thematic sessions on resilient cities, finance and industry.
The 2026 Yearbook for Global Climate Action has also been released, marking the 10th anniversary of the Marrakech Partnership. It highlights progress and remaining gaps in international climate action, drawing on reports from 83 cooperative initiatives covering more than 200 actions.
The COP31 presidency expects electrification to remain a central issue throughout the two-week summit, as world leaders gather in Antalya to discuss pathways towards a more secure, affordable and low-carbon global energy system.