Energy Transitions in Political Upheaval: Improving Multilateralism in the Power Sector

Abstract

Decarbonizing the power sector is critical to reducing greenhouse gas emissions. One enormous challenge is tracking the diverse multilateral initiatives that strive to tackle this problem. The governments behind such initiatives must assess their performance and follow best practices. This policy brief provides an overview of some of the most important initiatives and gives an interim assessment of their performance in the context of geopolitical rivalry and weakened multilateralism. Though a number of initiatives have met their respective goals, overall progress on decarbonizing the power sector has been too slow to curb emissions in line with the Paris Agreement. Insights from effective initiatives could serve it and other multilateral initiatives that address the power sector, including Germany’s Climate Club. Key Findings: Tracking shows that multilateral action has made progress in decarbonizing the power sector. The initiatives that surpass targets should inspire greater ambition. Inadequate metrics and data create gaps in awareness of efforts to act on commitments. Governments need to provide regular progress updates to secretariats and integrate more comprehensive data in their indicators. Secretariats are crucial for supporting initiatives. Lack of consistent government support affects their ability to manage and report on commitments. Despite India’s strong engagement, the absence of non-Western G20 countries participating in these initiatives is concerning because their power demand and emissions are rising. Policymakers must mainstream best practices. Germany in particular could use this knowledge to build a cohesive Climate Club around common targets.