Global Power Shift: Electrify to 35% by 2035

The COP31 co-presidency of Turkey and Australia has put forth a pivotal goal: to raise electricity's share in global final energy demand from over 20% to 35% by 2035. This "35x35" target is supported by analysis from the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA), aligning with the Paris Agreement's objective to limit global warming to 1.5°C.

The current global energy crisis, marked by surging fuel prices and supply chain disruptions, is acting as a catalyst for this accelerated transition to clean electricity in buildings, transport, and industry. Experts highlight electrification as a key strategy for both decarbonization and near-term energy security.

Alongside the electrification goal, COP31 president-designate Murat Kurum also announced targets to halve the growth in global waste by 2035 and reduce building energy consumption intensity by at least 25% by the same year. The IEA has been commissioned to develop specific roadmaps for achieving these objectives. Developing nations, represented by the Like Minded Developing Countries bloc, are emphasizing climate finance and the need to address protectionist trade policies by developed nations at the Bonn meeting and upcoming COP31.