An inclusive multi-stakeholder climate finance platform to advance the global energy transition

At COP28, the UAE consensus was made to triple renewable power capacity and double energy efficiency by 2030. Achieving this pathway requires annual investments of USD 5 trillion in the years 2025-2030, yet commitments remain insufficient, leaving Global South behind. Despite an agreement to triple climate finance for developing nations, the level of investment needed to support just and effective energy transition is still unmet.

Project facilitation plays a critical role in overcoming challenges and enabling access to climate finance. It helps project developers improve readiness, enhance their understanding of the funding criteria, and attract concessional and commercial financing. IRENA’s initiative, the Energy Transition Accelerator Financing Platform (ETAF) supports these efforts, facilitating capital mobilization and providing technical assistance to help projects meet funding criteria and accelerate the energy transition in developing countries.

ETAF supports the implementation of ambitious National Determined Contributions (NDCs) to meet the Paris Agreement targets, such as addressing mitigation, adaptation and climate resilience.

ETAF platform works actively towards achieving the United Nations Sustainable Development Goals (SDGs) while serving important national objectives such as energy access and security, economic diversification and sustainable impact.