COP 30 Ministerial Event | Financing the Energy Transition: From fossil fuel incentives to clean energy investment

The Energy Transition Council (ETC) is a multilateral platform, co-chaired by the United Kingdom and the Philippines, that unites over 40 governments and institutions offering global political, financial and technical leadership in the power sector.

For the COP 30 Ministerial, the ETC will partner with the Clean Energy Transition Partnership (CETP) and the Coalition on Phasing Out Fossil Fuel Incentives Including Subsidies (COFFIS) to host a unified platform that connects policy reform, fiscal transition, and clean energy investment.

The 11th ETC Ministerial, co-hosted by the COP 30 Presidency, will serve as a broad convening space, bringing together ministers, donors, financiers, and technical partners to reflect the diversity of perspectives and priorities shaping the global fossil-to-clean transition. It will

• send a strong political signal on aligning finance and policy to support the energy transition, highlighting the importance of reforming public financial support systems and demonstrating progress in shifting international and domestic public finance from fossil fuels to clean energy;
• showcase practical examples of reform that balance affordability with equity (incorporating protection for vulnerable groups) with increased funding for renewable deployment, energy efficiency, and upgrading grids;
• mobilize international finance and technical support, linking country-led reforms with donor, multilateral development bank (MDB), and private sector financing;
• highlight collaboration among the ETC, CETP, and COFFIS as delivery platforms supporting countries to implement transition plans aligned with updated nationally determined contributions and COP 30 outcomes;
• Enable a North–South dialogue between partner countries, donors, and MDBs on aligning policy, finance, and social equity in managing the fossil-to-clean transition.

The ETC Ministerial will focus on three strategic priorities:

1. Accelerate fossil fuel to clean energy transition—reforming inefficient fossil fuel subsidies to create fiscal headroom and price signals that enable renewable energy investment and efficiency gains.
2. Country-led planning and implementation—designing the right financial incentives and system for the clean energy transition, leveraging concessional, blended, and private finance to shift investment from unabated fossil fuels to clean energy systems and grid modernization.
3. Solutions and success stories—promoting tailored regional and national approaches that address specific local challenges and opportunities while ensuring just and inclusive outcomes.

Together, these priorities will align with the broader COP 30 narrative on the economic transition, emphasizing the steady move away from fossil fuel production and consumption in a just, orderly, and equitable manner while scaling clean energy solutions that drive sustainable growth and inclusion.