A coalition of private companies and associations has pledged to accelerate renewable energy investment and support COP30 implementation ahead of this year’s climate summit in Belém, Brazil.
The joint call was presented to COP30 chief executive Ana Toni during London Climate Action Week by the Global Renewables Alliance (GRA) and signatories spanning wind, solar, hydropower, green hydrogen and energy storage sectors.
“COP30 inaugurates a decade to accelerate implementation in all Global Stocktake agreements,” said Toni.
“This joint call from the private sector will ensure the energy transition is inclusive, ambitious, and fast, and can serve as a catalyst for other sectors to accelerate their own transition.”
The letter – titled Mutirão: Scaling Renewable Energy – sets out seven priority actions for governments, including a leader-level moment at COP30, finance for emerging markets, grid and storage plans, and a UN dialogue on transitioning away from fossil fuels.
“Implementation is already underway and accelerating – driven largely by the private sector,” said GRA chair Ben Backwell.
“Businesses are delivering clean energy solutions at scale, proving that the energy transition is not only possible, but profitable and in motion.”
Brazil added 21GW of renewable capacity in 2024 and attracted nearly $37bn in investment, according to the coalition.
However, barriers such as grid bottlenecks, permitting delays and financing costs still hinder progress, said GRA chief executive Bruce Douglas.
“The private sector is ready to rapidly deliver renewable energy at scale,” he said.
“Governments must urgently step up with stable policies that unlock this huge potential. What’s needed now is confidence, coordination, and capital.”
The letter remains open to new signatories ahead of COP30 and is supported by global and Brazilian companies and trade bodies including Ørsted, SSE, Octopus Energy Generation, EDP, Iberdrola, ENGIE, Fortescue, ABEEólica, GWEC and the Green Hydrogen Organisation.