On 23 June 2026, European Commission President Ursula von der Leyen, together with the COP30, COP31 and COP32 Presidencies, Canada, the Philippines, South Korea, the United Kingdom, the International Energy Agency and the International Renewable Energy Agency, launched 'Electrify Now', a global platform to accelerate electrification of the global economy. The initiative aims to drive rapid implementation of clean electrification, supported by modern grids and storage, as a response to the energy crisis and a pathway to lasting energy security. The platform will focus on unlocking ambition across regions, addressing policy and investment barriers, and supporting emerging and developing economies with the help of international financial institutions and the private sector. The COP31 Presidency announced that a global electrification target of 35% of final energy demand by 2035 will be central at COP31, in line with IEA and IRENA analysis.
The launch comes amid growing momentum for electrification, with global electric car sales expected to reach 23 million in 2026, representing 28% of total car sales, according to the IEA. Electricity demand is projected to grow four times faster than overall energy demand through 2035 under current policies, and 83% of new power capacity installed in 2025 was renewable. Investments in electricity supply and infrastructure are expected to reach USD 1.6 trillion in 2026, rising to USD 2 trillion when end-use electrification is included. The joint statement argues that accelerated electrification reduces exposure to volatile fossil fuel markets and geopolitical shocks, improving energy access and industrial competitiveness. The platform invites additional governments, industry, and financial institutions to join the effort. Von der Leyen stated that electrification offers a shift 'from reliance to resilience' and a path to a more secure, affordable, and competitive future. The initiative does not set binding targets or new funding commitments but aims to reinforce existing efforts and expand action globally.