Abu dhabi: Speaking by video to the 16th International Renewable Energy Agency (IRENA) Assembly in Abu Dhabi, United Arab Emirates, on Sunday, Guterres said the figure was roughly double the amount invested in fossil fuel energy worldwide, according to ANTARA.

According to Azerbaijan State News Agency, Guterres emphasized the unstoppable and irreversible nature of the clean energy transition, highlighting the rapid advances in renewable technologies and the decreasing costs across various sectors. Despite this momentum, he warned that infrastructure development has not kept up with technological progress, which could slow the transition if not urgently addressed.

Guterres noted that in 2024, approximately USD1 trillion was invested in clean power generation globally, but spending on electricity grids and related infrastructure was less than half that amount. He identified persistent obstacles such as lengthy permitting processes, inadequate grid capacity, supply chain bottlenecks, and rising pressure on critical mineral markets.

He further pointed out that many developing countries, especially in Africa, face significant challenges in accessing affordable financing, despite their vast renewable energy potential. To address these issues, Guterres called for substantial investment in modern, flexible power grids, stronger cross-border interconnections, and a rapid scale-up of battery storage to balance supply and demand and maintain system reliability.

Guterres also highlighted the necessity of expanding electric vehicle charging networks to support the electrification of transport, aiming to reduce emissions from one of the world's largest polluting sectors. Additionally, he urged governments to implement clear policy and regulatory reforms to make energy markets more efficient, transparent, and attractive to long-term investors.

He stressed the importance of governments providing clear rules, predictable timelines, and faster permitting, noting that policy certainty is crucial to unlocking private capital at scale. Guterres reminded participants that the COP30 climate conference in Bel©m acknowledged the likelihood of temporarily exceeding the 1.5 degrees Celsius global warming threshold.

"Our task is clear: make that overshoot as small and as short as possible," he said, warning that delays would increase long-term climate risks. Achieving this goal, he asserted, requires cutting emissions "faster, deeper, and everywhere," including by accelerating the shift away from fossil fuels, rapidly expanding renewable energy, and significantly improving energy efficiency worldwide.