UN Climate Change Executive Secretary Simon Stiell says clean energy investment has increased tenfold since the Paris Agreement, a significant achievement attributed to the multilateral system.

This was disclosed in a statement on Tuesday.

He, therefore, called for increased momentum in the energy transition, calling the current decade one for “delivery, acceleration, and implementation” to realise the benefits of clean energy and climate action on a global scale. 

Mr Stiell made the declaration during his speech at the New York Climate Week in New York, a flagship event hosted by Mission 2025.

The event is focused on the rise of the new economy, and launching the new inside COP30 in Brazil to be held in November.

Mr Stiell, who said the clean energy transition hit two trillion dollars in 2024 alone, however, stated that the boom was uneven as its vast benefits were not shared by all.  

“Climate disasters are hitting every economy and society harder each year. So we need to step it up fast. The good news is we’re not waiting for miracles. The economics are on our side.

“ Today, over 90 per cent  of new renewables cost less than the cheapest new fossil option.  The technologies and solutions already exist.

`Also clean power, electrification, efficiency and storage, resilience-building and the toolkit are being put to work.  But to ramp up implementation, we need that toolkit in every nation’s hands,“ he said.

He said the Paris-alignment would be from country by country, sector by sector, across every stream of finance by using the next global stock taken as the timeline to get there.

The executive secretary said the world ought to harness the force-multipliers to succeed in the faster, changing world.

“By taking industrial transformation: clean industry underpins stronger economies, more resilient supply chains, lower costs and lower emissions. Yet $1.6 trillion worth of projects remain idle. That is wasted potential.

“In the next five years we can unleash huge progress – powered by innovators and entrepreneurs, enabled by Paris-aligned governments, creating millions of good jobs.

“That is why I fully support Build Clean Now – a global initiative to fast-track clean industry shifts, led by the industrial transition accelerator, being launched later this afternoon,“ he said

He said AI had started a ready-made solution and carried risks which could, however, also be a game-changer.

“I echo the Secretary-General: if you run a major AI platform, power it with renewables, and innovate to drive energy efficiency. Jobs and livelihoods must be protected. Done properly, AI releases human capacity, not replaces it. That is our approach in the Secretariat, as we explore how AI can improve our own work.

“Most important is its power to drive real-world outcomes: managing micro grids, mapping climate risk, guiding resilient planning. This is just the beginning,” he said.

He suggested striving towards faster, fully-inclusive, higher-quality decisions that tie the formal process ever-closer to real economies and real lives.

Mr Stiell said he had asked senior experts to examine UN Climate Change on how the present process could be improved, within the mandates from Parties.

“Later this year I’ll receive their ideas. Any we wish to pursue, we will consult on them in 2026, foremost with parties who ultimately own this process. We should also never lose sight of how far we’ve come. Imperfect, yes – but recent COPs have delivered concrete results and global steps forward.

“Without UN climate cooperation, we were heading for five degrees of heating – an impossible future. Today we are closer to three. Still too high – but bending the curve,” he said.

He said it would be discovered later in the year how much closer the following round of plans got us to 1.5.

Mr Stiell added that a status report on adaptation efforts would be released with an initial picture of implementation from transparency reports.

“The roadmap to 1.3 trillion is also expected from the COP29 and COP30 presidencies before COP. We must be clear-eyed in recognising what all this data tells us, both the risks and the opportunities.

“And then it’s all eyes on COP30. It must respond to the state of the NDCs, to the roadmap to $1.3 trillion annually of accessible finance, deployable at speed and scale, to progress made and where acceleration is most needed.

“It must show climate multilateralism continues to deliver: with strong outcomes across all negotiations and spur faster and wider implementation, across all sectors and economies, especially those not yet pricing in climate risks and opportunities,” he explained.

According to him, no country should be left behind as delivering in tackling climate change is expected for the most vulnerable in all regions, especially emerging and developing countries.

He also mentioned that bold climate action means better jobs, higher living standards, cleaner air, healthier lives, secure food, affordable energy and transport.

“This is the story of the new economy rising, and this COP30 podcast series by outrage and optimism, is a great chance to tell it to more people around the world.

“Friends, let’s also recognise that the world’s climate story doesn’t begin or end at COP30. Every COP builds on the last. That is how we forge progress and deliver results. Every COP has its challenges.  And there are always naysayers. But they are only the story if we make them the story,” he said.

Mr Stiell, who said that the world was still firm behind Paris and fully on-board for climate cooperation, added that the work would be faster together.

“Not only at COP, but here in New York, at the G20, at Pre-COP, and in every forum. So let’s keep it up, and let’s step it up. Humanity cannot afford to let it stumble. Let’s recognise, reaffirm, and respond. This is the pathway to, though, and beyond Belém,” he added. 

(NAN)