In a crucial step towards securing a sustainable and energy-efficient future for the African continent, the African Union (AU) launched the African Energy Efficiency Programme and the African Energy Efficiency Alliance at COP 29 in Baku, Azerbaijan. The high-level meeting, organised by the African Energy Commission (AFREC) of the African Union at the Africa Pavilion, underscored the role of energy efficiency in closing the energy access gap and driving the transformation of Africa's energy systems.

The world is off track in reaching the global goal to double energy efficiency by 2030 that was adopted at COP 28 in Dubai. A coalition of countries, businesses and organizations is urging world leaders at COP 29 in Baku to commit to actionable measures to unlock the energy efficiency investment that is crucial to meeting climate targets.

As world leaders meet in Baku, Azerbaijan, for COP29, we near a year since they agreed to double energy efficiency globally – from around 2% to over 4% every year until 2030 – as a critical way to avoid catastrophic climate change.

In a concerted effort to bolster energy efficiency and drive the green transition, the European Investment Bank Group (EIBG), the European Commission (EC), and the Solar Impulse Foundation (SIF) launched a new pilot initiative aimed at boosting energy efficiency investments for small and medium-sized enterprises (SMEs). The initiative, a key element of the EIB Group Strategic Roadmap 2024-2027, is designed to enhance the competitiveness and sustainability of SMEs across Europe.