Spain and IEA unveil ‘grand coalition’ of energy stakeholders

Energy transition summit in Madrid to take place just ahead of COP28

Spain’s Minister for the Ecological Transition, Teresa Ribera, and IEA executive director Fatih Birol have announced an international climate and energy summit in Madrid.

The meeting will take place on October 2 just weeks before the COP28 Summit in the UAE and will focus on the urgency of accelerating the global clean energy transition.

Timed to take place during the Spanish Presidency of the Council of the European Union, the summit will bring together energy and climate ministers, and industry, finance and civil society leaders.

Ribera and Birol said they wanted the summit to “build a grand coalition to accelerate momentum towards reaching the Paris Agreement goal of limiting global warming to 1.5 degrees”.

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"It is time for the world’s energy and climate leaders to take a joint stand,” said Birol.

"Now is the moment to come together in a grand coalition of all stakeholders – encompassing governments, the energy industry, investors and civil society – that are genuinely committed to reducing emissions while safeguarding energy security.

“We need to send a strong message ahead of COP28 that the 1.5 °C goal is still alive."

Ribera added: "It is time to bring together the political will and leadership capable of accelerating climate action and to redouble our efforts to meet the goal of containing the global temperature rise to below 1.5 degrees.

“It is time to analyse the levers and conditions for a safer and healthier fossil fuel free world. The urgent deployment of renewables and new energy carriers such as renewable hydrogen are crucial in this exercise."

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