At the COP31 climate summit in Antalya, Turkey, governments are being urged to increase electricity’s share of global energy consumption from 23% to 35% by 2035.
This “35 by 35 Global Electrification Pledge” aims to transition transport, heating, and industrial processes away from fossil fuels, according to RTE.
The push for rapid electrification arrives as global carbon dioxide emissions from fossil fuels are projected to decline by 0.4% this year to 38.2 billion tonnes. While this represents the first annual drop since the 2020 pandemic, researchers warn the decline is partially driven by high oil prices resulting from the US-Israeli war on Iran rather than structural shifts alone.
Strategic Imperatives for the 35 by 35 Pledge
The Turkish Presidency is positioning electrification as a cornerstone of energy security and economic stability. COP31 President Murat Kurum noted that the recent global energy crisis highlighted the systemic vulnerabilities of nations reliant on imported fossil fuels.
To meet the 2035 targets, the initiative requires a massive reallocation of capital toward grid infrastructure and renewable storage. An international alliance of electricity utilities has already signaled its intent by increasing annual investment commitments from $148 billion to $156 billion for networks and renewable energy.
Global Energy Consumption Must Pivot to Meet the 35 by 35 Pledge
- Target Shift: Global energy consumption must pivot from 23% electricity usage to 35% within nine years to meet the 35 by 35 Pledge.
- Corporate Backing: Over 180 major companies, including Volvo (VOLV-B.ST), Uber (NYSE: UBER), IKEA, and Siemens (ETR: SIE), represent a combined $1.69 trillion in annual revenue supporting the transition.
- Financing Gap: A new international finance coalition is forming to assist developing nations, with the World Bank and African Development Bank set to serve as inaugural co-chairs in 2027.
Fossil Fuel Emission Divergence
The summit data shows global emissions are unevenly distributed. While renewable expansion and electric vehicles (EVs) are offsetting much of the demand growth, specific sectors continue to trend upward. For instance, while oil and gas emissions are expected to fall, coal remains a growing contributor to the global carbon footprint.
| Emission Source | Projected Annual Change |
|---|---|
| Oil Consumption | -1.9% |
| Natural Gas | -0.3% |
| Coal | +0.6% |
Professor Corinne Le Quéré of the University of East Anglia noted that the decline in oil emissions is largely a byproduct of price volatility. “This is not a way to tackle climate change. "This is not sustainable," Le Quéré stated, emphasizing that the expansion of solar, wind, and EVs avoids more emissions.”
China’s role in this transition is disproportionately large. According to the Global Carbon Project, China accounts for approximately 50% of the emissions being avoided globally through the deployment of renewable electricity and electric vehicle technology.
Raising electricity’s share of global final energy consumption to 35% by 2035 is the ambition behind the 35 by 35 Global Electrification Pledge. At the COP31 Presidency Press Briefing, #COP31 President Murat Kurum outlined the initiative, which brings political will and… pic.twitter.com/EimzmQJiMw
Industrial Supply Chains Must Redesign for a High-Electricity Economy
The transition to a high-electricity economy necessitates a fundamental redesign of industrial supply chains. As industries move from liquid fuels to electron-based processes, the demand on national grids will intensify. This shift creates a direct link between climate policy and macroeconomic stability, particularly regarding inflation and energy costs.
The COP31 Presidency is attempting to mobilize not just governments, but international financial institutions, to bridge the infrastructure gap in emerging markets. The success of the 35 by 35 goal depends on whether this new finance coalition can successfully de-risk large-scale utility projects in developing regions.
Divergent Views on Summit Efficacy
Despite the high-level pledges, the summit faces intense scrutiny from climate activists. Greta Thunberg expressed skepticism regarding the ability of the UN climate talks to prevent what she described as “irreversible tipping points.”
Thunberg criticized the political process, alleging that negotiations are often influenced by industry lobbyists and that leaders use distractions to avoid implementing substantive policy changes. She warned that without meaningful action, essential resources such as food and clean water could become luxuries.
Türkiye's COP31 Presidency is preparing the 35-by-35 Global Electrification Pledge, aiming to increase electricity's share of global final energy consumption to 35% by 2035, compared with approximately 23.4% in 2025. Electrification is becoming a central global energy-security…
The tension between the “flicking the switch” optimism expressed by Murat Kurum and the warnings of systemic instability from activists defines the current political climate of the summit. While the technical roadmap for electrification is being drawn, the political and social implementation remains a point of intense contention.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
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A global 35-by-35 electrification pledge could accelerate the transition to electricity, raising its share of global energy demand from 20-23% today to 35% by 2035. But can the Global South achieve this without adequate finance and technology?@AnumitaRoychowd explains why the… pic.twitter.com/9vankcxgJb
