- The report calls for clear policy frameworks to unlock low-carbon technology investments.
- It emphasizes accelerated funding for energy efficiency, electrification, and renewables.
- Tailored strategies are needed for sectors like chemicals, steel, and cement, including CCUS and clean hydrogen.
- The SB COP30 initiative involves over 40 million businesses across more than 60 countries.
Energy Transition Report
A coalition of global companies, led by the SB COP30 Energy Transition Working Group and chaired by Solvay, has presented a report to Brazilian authorities ahead of COP30. Developed in collaboration with McKinsey & Company, the report outlines urgent policy requests and scalable solutions to accelerate the energy transition.
Key Recommendations
The report emphasizes the need for clear and stable policy frameworks to unlock investments in low-carbon technologies. It calls for accelerated funding for energy efficiency, electrification, and renewables. Additionally, it highlights the importance of supporting mature technologies that can deliver immediate impact and suggests tailored strategies for sectors like chemicals, steel, and cement, including carbon capture, utilization, and storage (CCUS) and clean hydrogen.
Global Coalition
The SB COP30 initiative, led by the National Confederation of Industry (CNI), represents a large global coalition of over 40 million businesses across more than 60 countries. This group, accounting for 77% of the world's GDP, organizes various working groups to develop policy recommendations and scalable solutions, underscoring the private sector's role in advancing the global climate agenda.
Collaboration and Impact
Daniela Manique, Chair of the SB COP30 Energy Transition working group, emphasizes the power of cross-industry collaboration in achieving meaningful progress, even in hard-to-abate sectors. Ricardo Mussa, SB COP Chair, highlights the unprecedented scale of private sector mobilization around the climate agenda, stressing the urgency of collective efforts to transform local solutions into global impact.
