BELÉM, Brazil: The Utilities for Net Zero Alliance (UNEZA) announced at COP30, the expansion of its annual investment target for renewable energy transmission and storage systems from USD 117 billion to USD 148 billion. The coalition of 73 members now foresees a project pipeline worth USD 1 trillion by 2030.

The initiative brings together the world’s leading power utilities and electricity service companies to promote clean energy solutions.

During the event held in the Blue Zone, the governments of Germany and the United Kingdom, seven multilateral funds, and other institutions endorsed the report by the Green Grids Initiative, Climate Finance Principles for Grids. The document highlights that current climate finance rules exclude more than 60% of the world’s energy transmission and storage network projects. The analysis provides solutions for recognizing the catalytic role that grid investments can play in decarbonizing fossil fuel–dependent regions and transitioning economies.

COP30 High-Level Climate Champion Dan Ioschpe emphasised that while renewable energy generation is advancing rapidly, the challenge now lies in ensuring grid efficiency, resilience, and distribution capacity. According to him, investments in these systems increased by only 9% in 2024, revealing a significant financing gap. “If we can align capital, capacity, and collaboration, we can accelerate this transition together—not as an obligation, but as the greatest economic opportunity of our generation,” he stated.