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Legislators representing 32 nations commit to supporting the COP29 Green Energy Zones and Corridors Pledge to accelerate investment into transformative renewable energy infrastructure projects
On Energy Day at COP29, Members of Parliaments (MPs), Congress and Senate from 32 nations have announced their commitment to supporting the COP29 Presidency’s Green Energy Zones and Corridors Pledge, and to deploy their political influence to help create the infrastructure required to fulfil the landmark Pledge.
The signatories of the ‘Legislators Pledge’ in support of the COP29 Green Energy Zones and Corridors Pledge includes many of the African nations at the centre of the Parliamentarians for Climate Finance project, alongside representatives from countries across Africa, Asia, Europe, Latin America and North America.
Legislators committed to the following principles and actions:
To work collaboratively with stakeholders to enrich our knowledge on green energy corridors, zones, and grids, and their establishment within our jurisdictions, recognizing the vital role they play in transitioning to sustainable energy systems.
To cooperate with governmental bodies, regulatory agencies, and local stakeholders to develop and implement the necessary regulatory and institutional frameworks that facilitate the integration of renewable energy sources.
To actively support the development of innovative financing solutions and partnerships to mobilise low-cost capital for the infrastructure needed for green energy initiatives, ensuring that funding is accessible and sustainable.
To engage with communities to raise awareness, gather input, and ensure that the transition to green energy aligns with local needs and priorities
To collaborate with international partners to share best practices, technologies, and resources necessary to achieve green energy goals.
You can read the full Legislators' Pledge here:
The Legislators' Pledge was signed during a two day Green Investment Dialogue in Istanbul on 9-10 November and launched at a roundtable in Baku on 14 November. Convened by the Climate Parliament and the United Nations Industrial Development Organization (UNIDO), the Istanbul Dialogue brought together climate and finance experts, agencies, governments and investors with influential Members of Parliament, Congress and Senate from 34 countries. The Dialogue aimed to empower legislators to become champions of green investment in their countries.
Discussions over the two days addressed the urgency of scaling up climate finance for the global energy transition, practical strategies for unlocking funds, the need for a collective cross-border and cross-party efforts to develop robust policy and legal frameworks to attract green investment, and reflections on the critical role of legislators in addressing the climate crisis.
A key focus of the Dialogue was on the creation of Green Zones in each country. Green Zones offer countries opportunity to compete for green investment and build low-carbon infrastructure for the future, without needing to revise a wide range of national laws and regulations. By taking a zonal approach, the ability to engage the limited supply of public funds available to offer investment guarantees, increases. Green Zones will be pursued in each participating country of the Parliamentarians for Climate Finance project over the next 18-24 months.
The Istanbul Dialogue was generously supported by the Green Climate Fund (Parliamentarians for Climate Finance), the Climate Compatible Growth programme, Climate Emergency Collaboration Group and other Climate Parliament partners.
Comments from Dialogue participants:
Cedric Frolick. Member of Parliament, South Africa: “It is important to identify ourselves (MPs) as climate change activists, and make sure that civil society, university, youth and woman are always involve in the discussions”.
Rebecca Yei Kamarra, Member of Parliament, Sierra Leone: “We never can forget the people we represent. And we need to find a way that Green Zones to benefit investors and the people. If you have a based approach, it can be a win-win situation”.
Barry Gardiner, Member of Parliament, UK: “There are 3 key words: convince stakeholders, negotiate deal for Green Zones and to enable good environments for private investors”.
Cynthia Córdova, Member of Parliament, Costa Rica: We have discussed enabling conditions to ensure the formalization of Green Zones. A concrete action is to involve all the relevant actors in the discussion to validate the process and secure its future. For instance, the NDCs should go through the democratic processes of Congress, allowing us to influence their definition and create certainty for investors.
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