Leaders discuss potential to accelerate electrification at COP31-IEA High-Level Dialogue in New York

The IEA and the COP31 Presidency of Türkiye – in collaboration with the government of Australia and the United Nations – today convened the third in a series of High-Level Energy Transition Dialogues taking place ahead of COP31 in November.

Held during the UN General Assembly and New York Climate Week, the event brought together government ministers from around the world and other high-level stakeholders, including leaders from previous and future COP Presidencies, private sector executives and civil society representatives.

IEA Executive Director Fatih Birol opened the event alongside COP31 President-Designate Murat Kurum; Kushla Munro, Australia’s Executive Director of COP31 Negotiations (participating on behalf of COP31 President of Negotiations Chris Bowen); and Selwin Hart, Special Adviser to the United Nations Secretary-General on Climate Action and Just Transition. First Lady of Türkiye Emine Erdoğan delivered keynote remarks.

Discussions focused on opportunities to speed up electrification globally – a priority for the COP31 Presidency, with countries currently considering a goal for electricity to meet 35% of final energy consumption by 2035. The conversations drew on a new IEA special report, prepared at the request of Türkiye and Australia, that examines the potential for electrification by sector – as well as the implications for energy security and emissions reductions and the broader benefits and trade-offs. The report finds that faster deployment of cost-effective technologies could bring the 35% goal within striking distance.

Participants also discussed the wider measures needed to accelerate electrification, including rapidly expanding power grids and energy storage and improving access to finance in emerging and developing economies. They explored how greater collaboration among governments, industry, financial institutions and international organisations could support national efforts.

“Electricity is becoming ever more central to modern economies and increasingly vital to our daily lives. Amid the second major energy supply shock in the space of five years, electrification is a key strategy for both strengthening energy security and reducing emissions,” said IEA Executive Director Fatih Birol. “Today’s discussions highlighted the strong momentum behind electrification in countries around the world – and the new IEA analysis shows the scale of the opportunity if action is taken to build out smarter and more flexible grids and scale up investments in electrification for all.”

“The COP31 Presidency has set its ‘35-by-35’ electrification target because as energy markets remain volatile and temperatures are still rising, leaders must focus on how we can shield communities from energy import dependence and cut greenhouse gas emissions,” said COP31 President-Designate Murat Kurum. “We invited the IEA to look at what policymakers need to do, and today at the joint high-level dialogue we are bringing everyone together to discuss the way forward. Momentum is steadily building as support for an electrification target rises and we set ourselves up for a successful COP31 in Türkiye.”

"As COP31 President of Negotiations, Australia has heard growing recognition of the electrification opportunity among all Parties. The global energy shock has prompted many countries to seek ways to strengthen energy security, while still delivering affordable and reliable energy. The International Energy Agency's analysis shows that electrification acts on each of these challenges, while also supporting economic growth and lowering emissions,” said COP31 President of Negotiations Chris Bowen. “Driven by technology, economics and investment, the clean energy transition has become unstoppable. A significant finding of the report is that we already have the means to deliver an electrified world today. The shift to an electrified world is well underway. The challenge is deployment, at speed and scale.”