be convened by the Secretary-General this September. This an important event on the global agenda, particularly on the road to COP26, because it represents the first time in over 40 years – literally a generation – that the General Assembly has called for a summit-level event exclusively on energy. The last time this happened was during the oil crisis in 1981. This shows the seriousness of the current environment. I believe the world is now waking up and realizing that we must tackle the energy transition to achieve the goals of the Paris Agreement on climate change and net-zero emissions by 2050. A major outcome of this High-Level Dialogue will be Energy Compacts that capture ambitious commitments along with concrete actions that provide a pathway to achieving SDG 7 by 2030. The Energy Compacts place energy on a different platform from before. They’re complementary and supportive to nationally determined contributions (NDCs), but are purely energy focused, aligned to achieving SDG 7 and energy transitions in line with the Paris Agreement. What we are asking for in the Compacts is to identify the specific actions that countries, companies and other stakeholders will take over the next few years to meet their commitments, and then we will track and monitor progress, every single year. This is for all countries – and also about countries that want to support other countries. The United Kingdom, for example, could make commitments in their Energy Compacts to address their energy sector and emissions; but they could also include planned actions to provide power for 10 million people. How they plan to do this is what’s important. The Compacts are a way of showing tangible action – this could be providing power and clean cooking to more people, improving energy efficiency, deploying more renewables or getting out of coal. From June 21 to 25, we held
a milestone event in the lead- up to the High-Level Dialogue taking place on 20 September - the Ministerial Thematic Forums, where several important announcements were made. The week saw 30 Global Champion
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The world is now realizing that we must tackle the energy transition to achieve the goals of the Paris Agreement on climate change.
Damilola Ogunbiyi
countries, 17 Co-lead organizations, and many technical experts come together to begin creating a roadmap to 2030. Corporations, philanthropies and
dozens of countries announced commitments that will be part of their individual Energy Compacts, creating substantial momentum on SDG 7.
Some highlights included: • IKEA Foundation and the Rockefeller Foundation announced a groundbreaking US$1 billion commitment to address energy poverty.
• Denmark, Germany and the Netherlands made national commitments on advancing access to electricity and clean cooking, and prioritizing a just energy transition in developing countries.
• Brazil, Denmark, Germany, India and Portugal presented high-level commitments on advancing green hydrogen.
• Others designed regional compacts, such as the Renewable Energy for Latin America and the Caribbean (RELAC) launched by Chile, Colombia and the Dominican Republic.
• The ambitions of governments were complemented by private sector commitments. Google pioneered and pledged to build a global 24/7 Carbon- Free Energy movement to accelerate decarbonization around the world. Enel’s previewed commitments to be part of their Energy Compact, which includes accelerating their exit from coal, tripling their renewable capacity, and delivering over five million new energy connections.
OPEC Fund Director-General Abdulhamid Alkhalifa and Damilola Ogunbiyi
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