The Global Renewables Alliance (GRA) has issued a resounding call to action, urging world leaders to address pressing trade barriers that hamper renewable energy market growth.
The alliance warns that without action, these barriers could jeopardize the target of tripling renewable energy capacity by 2030.
The the call was made at a high-level side event held at the ongoing COP 29 summit in Baku featuring prominent figures like Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), and Ben Backwell, Chair of the GRA and CEO of the Global Wind Energy Council, discussed the pivotal role of fair trade policies in ensuring a successful energy transition.
The event, chaired by Ana Rovzar, Head of Policy and Partnerships at GRA, highlighted the need to eliminate bottlenecks in supply chains, which she stated as crucial for moving towards a clean energy economy.
“The clean energy industry stands at a critical inflection point,” Rovzar remarked.
“Scaling up renewable deployment is essential to meet the ambitious tripling target, and coordinated industrial trade policies are key to achieving this.
“Trade policy supports growth and innovation in the renewable energy sector and is fundamental for a just and timely energy transition,” she added.
With supply chain disruptions and increasing trade tensions on the rise, the GRA emphasized the need for resilient, equitable trade policies to accelerate the global energy shift.
The alliance called for enhanced dialogue among international stakeholders to avoid market distortions and stimulate renewable capacity growth.
A central component of the discussion was the UAE Consensus report, developed in collaboration with IRENA, GRA, and the COP28, COP29, and COP30 presidencies.
The report underscores the urgent need for global trade cooperation to establish robust renewable energy supply chains, ensuring energy security, affordability, and sustainability.
Furthermore the GRA advocated for policies supporting emerging economies in manufacturing and trading renewable technologies, noting the potential for job creation and sustainable growth.
The alliance urged global leaders to engage with industry representatives to eliminate trade barriers hindering goods and services essential to the energy transition.
The GRA’s Call to Action and ongoing discussions with partners aim to shape priorities for sustainable trade practices, with a focus on upcoming decision-making forums such as the G20 and COP30.
By Dare Akogun
