Mobilizing adequate and predictable finance. Global investment in renewable energy and energy efficiency should be tripled towards 2030. Shifting fossil fuel subsidies to renewables as well as putting a price on carbon will also be crucial in accelerating the energy transition. International cooperation must be dramatically scaled up to catalyse the public and private finance and investment needed to accelerate energy transitions, especially for developing countries and small island developing States. Access to finance and the provision of technology transfer must be prioritised.
1. On 24 September 2021, over 130 Heads of State and Government, high representatives and multi-stakeholder leaders gathered for the High-level Dialogue on Energy to promote implementation of the energy-related goals and targets of the 2030 Agenda for Sustainable Development2.
2. As the first summit-level meeting on energy in 40 years under the auspices of the General Assembly, the Dialogue presented a historic opportunity to deliberate on a global roadmap for the achievement of Sustainable Development Goal (SDG) 7 and commit to transformative action to address the twin energy challenges: ensuring access to clean and affordable energy services for all by 2030 and accelerating the energy transition towards net-zero emissions by 2050.
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