Ethiopia Calls for Faster Progress on Electrification, Access and Affordability

Addis Ababa, June 23, 2026 (ENA)__ Foreign Minister and COP32 President-Designate Gedion Timothewos has called for faster progress on expanding electricity access and improving the affordability of climate finance while addressing the Global Electrification Dialogue during the London Climate Action Week.

The meeting, convened by the International Energy Agency (IEA) and the COP31 Presidency of Türkiye and Australia, brought together ministers, international organizations, and energy experts focused on the implementation of global climate goals.

The discussions centered on how to scale up clean electricity systems while delivering on existing climate commitments.

A key proposal under consideration is a target to raise electrification to 35 percent of global final energy consumption by 2035.

According to the Ministry of Foreign Affairs, Gedion supported the objective, saying it could help translate climate pledges into concrete investments in power generation, transmission networks, grid expansion, and clean cooking access.

He stressed that financing remains the main constraint for many developing economies. Even when renewable energy projects are viable, high borrowing costs often delay or prevent implementation.

This, he noted, reflects perceived risks related to currency volatility, political conditions, and regulatory uncertainty.

The Minister called for stronger international risk-mitigation instruments, including guarantees, insurance mechanisms, and expanded access to local-currency financing.

He also emphasized that electrification should be understood as more than a decarbonization tool.

Expanding access to reliable electricity is central to economic development, energy security, and industrial growth, particularly in countries where energy access gaps remain significant, Gedion noted.

The dialogue forms part of the preparatory process for COP31, where governments are expected to focus increasingly on the implementation of existing commitments.

Held during London Climate Action Week, the event served as an informal platform for shaping priorities ahead of the next round of UN climate negotiations.