EU accelerates clean energy drive ahead of COP31

According to the Copernicus Climate Change Service, August 2026 was the hottest month ever recorded globally, matching the record set in July 2023.

Ten years after the signing of the Paris Agreement, the global transition towards clean energy is now fully under way, while also serving as a driver of competitiveness, resilience and economic growth.

According to data from the International Energy Agency (IEA), for every €1 invested globally in fossil fuels, €2 is now being directed towards clean energy.

The European Union’s Contribution

The European Union is seeking to maintain a leading role in global efforts to address climate change, with a focus on international cooperation, climate finance and accelerating the energy transition.

The EU has reduced greenhouse gas emissions by 37% since 1990, while its economy has grown by 71% over the same period. Today, it accounts for approximately 6% of global greenhouse gas emissions.

At the same time, it is the world’s largest contributor to climate finance. In 2025, it invested approximately €338 billion in clean energy, an increase of 132% compared with 2015, equivalent to 18% of global investment in the sector, according to the IEA.

Ahead of COP31, which will take place in Antalya in November, the EU is placing particular emphasis on the need to maintain global efforts both to reduce emissions and increase climate finance.

“Electrify Now”: Accelerating Electrification

A central element of the new strategy is the Electrify Now initiative, launched in June 2026 as part of London Climate Action Week, with the participation of governments and businesses and, in the next phase, international financial institutions and multilateral development banks.

The initiative has a three-year horizon and aims to strengthen cooperation, facilitate the exchange of policies and expertise, highlight models that can be replicated across different markets, and mobilise investment.

Its priorities include:

• developing clean electricity generation and resilient supply chains;
• grids, energy storage and flexibility of energy systems;
• industrial electrification;
• electrification in transport;
• electrification of buildings.

The initiative is backed by an initial coalition comprising the European Commission, Brazil, Türkiye, Australia, Ethiopia, Canada, the Philippines, South Korea and the United Kingdom, while technical and analytical support is provided by the IEA, IRENA and the Global Renewables Alliance.

Participation is voluntary and does not require the adoption of the proposed target of increasing the share of electricity in final global energy demand to 35% by 2035.

From New York to COP31

The next major milestone is the Global Renewables Summit 2026, held as part of Climate Week NYC on 21–22 September, with a focus on advancing electrification powered by renewable energy.

At COP31 in Antalya, the EU is expected to continue pressing for the faster implementation of the energy commitments arising from the first Global Stocktake.

The agenda includes, among other priorities, accelerating the phase-out of fossil fuels, tripling global renewable energy capacity and doubling the global rate of improvement in energy efficiency by 2030, alongside the development of grids, storage systems and other infrastructure.

Methane Also in Focus

Alongside reducing carbon dioxide emissions, the EU is placing particular emphasis on cutting methane emissions. According to the IEA, atmospheric methane concentrations are rising faster than those of any other major greenhouse gas and at the fastest rate ever recorded.

Methane is the second-largest contributor to climate change after carbon dioxide and has a stronger warming effect on the atmosphere.

The EU was among the countries that co-founded the Global Methane Pledge at COP26 in 2021, with the goal of reducing global methane emissions by 30% by 2030. Since 2025, Canada has assumed, together with the EU, a coordinating role in the initiative.

REPowerEU: The Energy Transition as a Tool for Energy Security

For Europe, the energy transition is now directly linked to energy security. Replacing costly and volatile fossil fuel imports with clean energy produced within Europe is a key EU objective.

A prime example is REPowerEU, through which the EU is seeking to permanently eliminate its dependence on Russian fossil fuel imports.

Compared with 2021, the last full year before Russia’s invasion of Ukraine, imports of Russian coal, natural gas and oil have fallen sharply. Natural gas imports from Russia declined from more than 150 billion cubic metres in 2021 to 36 billion cubic metres in 2025.

At the same time, renewable energy deployment accelerated. Wind and solar generation increased by more than 50% over five years, and the two technologies now account for 31% of electricity generation in the EU, surpassing fossil fuels.

Clean Technology and Competitiveness

The EU also links decarbonisation with strengthening industrial competitiveness. Its objective is to provide European businesses and investors with greater predictability and security, enabling Europe to secure a significant share of global clean-technology markets.

This effort includes the Clean Industrial Deal, the European plan designed to link competitiveness with decarbonisation. The plan focuses on improving access to affordable energy, boosting investment, securing raw materials and resources, creating markets for clean products, developing skills and generating quality jobs.

At the same time, through Global Gateway, the EU is financing projects focused on emissions reduction, climate resilience and clean energy, helping to expand the deployment of green technologies and strengthen energy security at the international level.