Governments, the International Energy Agency, the International Renewable Energy Agency and industry leaders join forces to launch ‘Electrify Now’ — a global platform to accelerate clean electrification, with the COP31 Presidency’s 35% by 2035 target at its heart.
LONDON, 23 June 2026 — Today, the European Commission, the COP30 Presidency (Brazil), the COP31 Presidency (Australia, Türkiye), the COP32 Presidency (Ethiopia), Canada, the Philippines, the Republic of Korea, the United Kingdom, the International Energy Agency and the International Renewable Energy Agency joined forces with industry leaders to launch ‘Electrify Now’: a global platform to accelerate the electrification of the global economy.
The signatories said they were doing so convinced that rapidly increasing electrification of homes, industries and transport systems — supported by resilient, modern and flexible grids and storage, powered by clean energy sources — is an immediate strategic and economic priority and a lasting response to the current energy crisis. They invited others to join them in this shared endeavour.
Electric technologies are now widely available, more affordable than ever, and their performance continues to improve. Adoption of these technologies will drive a surge in power demand, structurally changing the global energy mix. The scale of this momentum is already visible in real time: global electric car sales are expected to grow to 23 million in 2026, representing 28% of total car sales. Through to 2035, electricity demand is projected to grow four times faster than overall energy demand under today’s policy settings, and 83% of all new power capacity installed last year was renewable. Investments in electricity supply and infrastructure are expected to reach USD 1.6 trillion in 2026 and rise to USD 2 trillion when spending on end-use electrification is included.
But we must go further and faster, the statement said. The current energy crisis has once again demonstrated that dependence on unreliable imported fossil fuels can leave countries exposed to geopolitical shocks and built-in price volatility, impacting household energy bills and industrial competitiveness alike. The solution lies in accelerated electrification and clean energy deployment: a pathway to lasting energy security, reduced exposure to volatile fossil fuel markets, vastly improved energy access, and significant economic and environmental benefits.
The scale of this challenge demands a truly global response that spans regions and development status. Through Electrify Now, the partners will focus attention, reinforce commitments and expand action to drive rapid implementation of electrification and clean energy over the coming years. In this light, the statement welcomed the COP31 Presidency’s announcement that, in alignment with IEA and IRENA analysis, discussion of a global electrification target of 35% of final energy demand by 2035 will be central at COP31.
The signatories invited all governments to join Electrify Now, and called on members of industry, International Financial Institutions, private finance and beyond — whose capital, expertise and convening power will be essential — to collaborate with them in this crucial endeavour.
“Dependence on volatile imported fossil fuels leaves our economies exposed and our citizens paying the price. Electrification is another way to shift from reliance to resilience. Together, we can accelerate the clean energy transition and move towards a more secure, affordable and competitive future.”
“Electrification is the backbone of a stronger economy, a cleaner environment, and a more competitive Canada. Through Electrify Now, we are working with partners around the world to leverage our strengths, catalyse investment, and accelerate the transition to clean, reliable, and affordable electricity. Together, with our trusted international partners, we are powering the low-carbon economy of the future.”
“The Belém COP structured a new Action Agenda that is bringing speed and scale to the implementation of the Paris Agreement. Electrification was an important theme of the debates in the Belém Action Agenda, and the COP30 Presidency Roadmap on Transitioning Away from Fossil Fuels also considers electrification powered by clean sources, connected to robust infrastructure, as a major piece of the equation, to be completed with access to energy, sustainable fuels and other decarbonization strategies. Electrify Now is the kind of initiative that captures the momentum and decisively contributes to the collective effort that is needed.”
“This year at COP31 we have a unique opportunity to make progress on a critical piece of the energy transition puzzle — electrification. Momentum for a ‘35-by-35’ target at COP31 is already building as progress in the real economy demonstrates that the mission is possible. Our task as political leaders is now to guide and accelerate progress even further. In Antalya this November we will bring even more actors together to spark a truly global conversation on electrification and take the next steps.”
“The global energy shock has crystallised the important role of electrification, backed by strong grids and storage. Electrification is a practical way to lower energy bills, reduce emissions, and strengthen energy security. We’re committed to working together to build a cleaner, cheaper and more secure energy future.”
“Electrification is one of the clearest pathways to deliver energy access, security, affordability, development, and climate action together. For many developing countries, particularly those like mine, the challenge is not a lack of renewable energy potential but the high cost of financing it. Closing the implementation gap, therefore, requires closing the cost-of-capital gap. By reducing borrowing costs and scaling up public investment in renewable energy, grids, and transmission infrastructure, we can strengthen energy sovereignty, build resilience to future shocks, expand access, and accelerate sustainable economic transformation.”
“As the IEA has highlighted, the world has entered the Age of Electricity, driven by factors such as the rapid expansion of AI, rising demand for air conditioning and electric vehicles, and ongoing industrial development. The current global energy crisis is set to accelerate this process, as many countries look to strengthen the resilience of their energy systems through electrification. As the strategic partner to the COP31 Presidency, working closely with Türkiye and Australia, the IEA is preparing a new Special Report to be released ahead of the COP31 Summit in Antalya in November to help countries navigate these changes securely, affordably and sustainably — with a view to increasing electricity’s share of final energy consumption to 35% by 2035, from around 23% today.”
“The next phase of the energy transition will not be defined by how much renewable electricity we generate, but by how much of our economies we electrify. IRENA has been calling for a global electrification target, and I am delighted to see our data helping to shape collective action worldwide. Our roadmap on transitioning away from fossil fuels explicitly proposes a global electrification target of 35% by 2035, supported by grid development and targeted investment. Electrification is a no-regret solution that simultaneously reduces emissions, enhances energy security, improves affordability, and supports green industrialisation and competitiveness. Building on the strength of IRENA’s global membership, we will continue to drive momentum and strengthen international cooperation among governments, industry, financial institutions, and development partners.”
