By surpassing its COP28 target fourfold, the Energy Transition Accelerator Financing Platform (ETAF) signals strong momentum for renewable energy financing in developing countries. Today, with the addition of four new partners, financial pledges towards the International Renewable Energy Agency’s (IRENA) ETAF platform reached USD 4.05 billion, surpassing its original target for COP28 by more than fourfold.
The platform, established in 2021 with support from the United Arab Emirates, aims to scale up renewable energy projects that contribute to Nationally Determined Contributions (NDCs) in developing countries, while also bringing benefits to communities through enhanced energy access and security, and promoting economic growth and diversification.
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