RIO DE JANEIRO LEADERS’ DECLARATION
Sustainable Development, Energy Transitions, and Climate Action
(excerpts from the chapter)
48. We commit to accelerating clean, sustainable, just, affordable and inclusive energy transitions, in line with SDG7, the Paris Agreement and the outcome of the GST-1, adopted at the UN Climate Change Conference in Dubai (COP28), that leave no one behind, especially the poor and those in vulnerable situations, taking into account different national circumstances.
49. We support the implementation of efforts to triple renewable energy capacity globally and double the global average annual rate of energy efficiency improvements globally through existing targets and policies, similarly support the implementation with respect to other zero and low-emission technologies, including abatement and removal technologies in line with national circumstances by 2030. Furthermore, we recognize the need to catalyze and scale up investment from all financial sources and channels for bridging the funding gap for energy transitions globally, especially in developing countries. Reaffirming that developing countries need to be supported in their transitions to low carbon emissions, we will work towards facilitating low-cost financing for them. We acknowledge the important role of domestic energy planning, capacity building, policy strategies and frameworks, as well as cooperation between different levels of government, in creating enabling environments to attract financing for energy transitions.
53. We commit to accelerate efforts to achieve universal access to clean cooking by 2030, including through formulation and implementation of enabling policies and provision and mobilization of financial and technological support from all sources to developing countries in order to increase the annual investments and support the affordability of clean cooking projects.
54. We endorse the voluntary “Principles for Just and Inclusive Energy Transitions” adopted by the G20 Energy Transitions Working Group and, in line with national circumstances, take them into account when devising and implementing domestic policies to pursue energy transitions.