The ‘Electrify Now’ initiative was unveiled at the Global Energy Transition and Electrification Summit in London during Climate Action Week. Backed by the European Commission, the UN, the COP presidencies, the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA) and industry leaders, the campaign aims to accelerate clean electrification in response to fossil fuel dependence and energy price volatility.  

The initiative sets out a target to increase the share of electricity in global energy demand from around 21% today to 35% by 2035 – requiring progress at roughly four times the current pace. The goal is based on IEA and IRENA analysis.

Electrify Now will prioritise key sectors including transport, industry and buildings, alongside enabling measures such as grid modernisation, energy storage expansion and supply chain development. It also aims to strengthen cooperation between governments and businesses, support project sharing and mobilise investment, particularly in emerging and developing economies.

The summit brought together representatives from Australia, Brazil, Colombia, Ethiopia, the Netherlands, Türkiye (Turkey) and the EU, alongside UN Secretary-General António Guterres.

Industry groups welcomed the initiative. The Global Wind Energy Council said electrification would significantly expand opportunities for wind and other renewable technologies. Its CEO, Ben Backwell, called electrification ‘the number one priority for every decision-maker today’.

Alongside the launch, more than 100 companies – including Iberdrola, Ikea, Levi Strauss, Nestlé, Nikon, Uber and Volvo Cars – called on governments to place electrification at the centre of economic and industrial strategy. Coordinated by the We Mean Business Coalition and the Global Renewables Alliance, the group, which represents a combined annual revenue of more than $1.5tn, is advocating for faster policy action to accelerate electrification globally.

Separately, UK Energy Secretary Ed Miliband confirmed that more than £100bn in clean energy investment has been announced in the UK since the current government took office. This year’s renewable energy auctions alone have mobilised £27bn, with offshore wind, solar power and grid infrastructure accounting for the bulk of planned investment, he said. The funding is expected to be distributed across all UK regions and includes both domestic and international capital.