Some economies are starting to see dividends from the hundreds of billions of dollars flowing each year into clean energy around the world – but progress is uneven, with richer countries reaping most of the benefits and poorer ones held back, the United Nations’ climate chief said on Tuesday.
Simon Stiell told investors at an event in New York that the efforts of many developing countries to adopt more renewables like solar and wind power “are hamstrung by sky-high costs of capital… or mired in spiralling debt crises”.
Because the “mega-trend” in clean energy is occurring unevenly, most investors are missing out on “gigantic, unrealised opportunities” outside of wealthy countries, he added, warning that this also poses a major threat to global action to curb climate change and avoid its worst impacts.
“I’ll be blunt: if more developing economies don’t see much more of this growing deluge of climate investment, we will quickly entrench a dangerous two-speed global transition,” Stiell said.
UN climate chief calls for “exponential changes” to boost investment in Africa
Such an imbalance is both “unacceptable” and “self-defeating” for all economies, he emphasised. It would make halving global emissions by 2030 to keep warming in check “near impossible”, he explained, as well as causing havoc in international supply chains as extreme weather bites.
The disruptions experienced by businesses during the COVID19 pandemic “will seem like a minor hiccup compared to what an unchecked climate crisis will inflict” in an interdependent world economy, Stiell warned. “If a two-speed global transition sets in, ultimately everyone loses, and loses badly,” he added.
IEA weighs in
A report issued on Tuesday by the International Energy Agency (IEA), showing how to meet the energy transition goals agreed at last year’s COP28 climate summit, noted that advanced economies and China account for more than four out of every five dollars invested in clean energy since the Paris Agreement was signed in late 2015.
The IEA called for stronger and more stable policies to attract private investment in clean energy in other regions, together with larger, better-targeted international support spurred partly by a new climate finance goal due to be agreed at COP29 this November.
The agency also pointed out that, although governments are worried about how to make the energy transition socially acceptable, globally they are still spending nine times more making fossil fuels cheaper than on subsidising clean energy for consumers.
COP29 aims to boost battery storage and grids for renewables, as pledges proliferate
The report said that the COP28 goal of tripling global renewable energy capacity by 2030 is within reach – but meeting it will not automatically mean that more renewable electricity will clean up power systems, lower costs for consumers and slash fossil fuel use.
Achieving those aims will require complementary efforts to enable clean electrification – including building and modernising 25 million kilometres of electricity grids by 2030 and adding 1,500 gigawatts (GW) of energy storage capacity by that year, largely with batteries.
Fast-tracking a green future
With businesses and financiers gathered in New York for the annual Climate Week NYC, alongside leaders attending the United Nations General Assembly (UNGA), international agencies and green groups emphasised the need for concerted action by the public and private sectors to put internationally agreed energy targets into practice.
Fatih Birol, the IEA’s executive director, said the goals set at COP28 could put the global energy sector “on a fast track towards a more secure, affordable and sustainable future”. “To ensure the world doesn’t miss this huge opportunity, the focus must shift rapidly to implementation,” he added.
Other organisations also outlined key ways to make this happen. Mission 2025 – a coalition of businesses, sub-national governments and researchers, among others – appealed to governments to set “investment-positive policies” that can provide confidence to mobilise large-scale finance for the energy transition.
Using data from the Energy Transitions Commission, an international think-tank, Mission 2025 identified three such policies that have already worked in industralised countries and some large developing economies to help boost finance for renewables and electric vehicles.
It recommended fixing gigawatt targets for renewable energy deployment at the national level as the UK and India have done for example; derisking investment in renewable energy – by offering support such as competitive long-term contracts or tax credits – as in Europe, the India, China and the United States; and setting a date of 2035 or earlier to end sales of petrol and diesel passenger vehicles, as the European Union has done.
Global push to triple renewables requires responsible mining of minerals
Mission 2025 said these policies should be extended to other places, and could roughly double today’s investment in clean power and electric vehicles to $1 trillion of the $3.5 trillion needed annually for the energy sector to play its part in limiting warming to 1.5C.
Mike Hemsley, deputy director of the Energy Transitions Commission, told Climate Home these policies are as cheap as their fossil fuel equivalents, so there is no net cost to countries from implementing them as part of the updated national climate plans governments are now preparing – including for lower-income and emerging economies.
“We hope that this can give them some confidence to say if we set ambitious policy, we can attract private investment, realise some of our own goals and not necessarily cost ourselves anything – all for the good of the climate,” he said, adding that strong policies can also help lower investment risk in developing countries.
Renewables cheaper than fossil fuels
Research released on Tuesday by the International Renewable Energy Agency (IRENA) at the Global Renewables Summit during UNGA showed that with renewable power capacity additions setting a record of 473 gigawatts in 2023, four-fifths of newly commissioned, utility-scale renewable projects had lower costs than their fossil fuel-fired alternatives.
Power from solar photovoltaic (PV) panels, it found, has seen its cost plummet to around $0.04 per kilowatt hour in just one year, making it 56% cheaper than fossil fuel and nuclear options in 2023. Overall, the renewable power deployed globally since 2000 has saved up to $409 billion in fuel costs in the power sector, IRENA added.
“Thanks to low-cost renewables in the global market, policy makers have an immediate solution at hand to reduce fossil fuels dependency, limit the economic and social damage of carbon-intensive energy use, drive economic development and harness energy security benefits,” IRENA’s Director-General Francesco La Camera said in a statement.
(Reporting by Megan Rowling, editing by Joe Lo)
The post UN climate chief warns of “two-speed” global energy transition appeared first on Climate Home News.
UN climate chief warns of “two-speed” global energy transition
22 October 2025
The Hon Anthony Albanese MP
Prime Minister
Parliament House
CANBERRA ACT 2600
Sent via email
To the Prime Minister, Federal Environment Minister, and Members of the Albanese Government,
As researchers who study, document and work to recover Australia’s plants and animals, insects and ecosystems, we are keenly aware of the value of nature to Australians and the world.
Australia has one of the worst rates of deforestation globally. For every 100 hectares of native woodland cleared, about 2000 birds, 15,000 reptiles and 500 native mammals will die. As scientists and experts, we have sounded the alarm for more than 30 years that the large-scale destruction of native woodlands, forests, wetlands and grasslands was the single biggest threat to the nation’s biodiversity. That is still the case today, and it is driving an extinction crisis.
New figures show that Queensland continues to lead the nation in deforestation. The latest statewide landcover and trees study (SLATS) report shows that annually 44% of all deforestation in Queensland occurs in the Great Barrier Reef catchment areas, where over 140,000 hectares are bulldozed each year.
Deforestation in Great Barrier Reef catchments is devastating one of Australia’s most iconic natural wonders. When forests and bushland are bulldozed, erosion causes debris to wash into waterways, sending sediment, nutrients and pesticides into the Reef waters. This smothers coral, fuels crown-of-thorns starfish outbreaks, and reduces water quality. These impacts compound the damage caused by repeated mass bleaching events driven by climate change.
The Great Barrier Reef sustains precious marine life, supports local and global biodiversity, and underpins tourism economies and coastal communities that rely on its survival. Continued mass deforestation threatens these values and could jeopardise the Reef’s World Heritage status. In 2026 the World Heritage Committee will review Australia’s progress in protecting the Reef and may consider placing it on the World Heritage in Danger list, if key threats to the Reef, including deforestation, are not addressed.
This mass deforestation happens due to a loophole in the Environment Protection and Biodiversity Conservation (EPBC) Act, our national nature law. Exemptions allow deforestation to continue largely unregulated by the EPBC Act through a grandfathering clause from 2000 known as “continuous use”. Without meaningful reform, deforestation will continue to drive massive biodiversity loss. This loophole must be closed as part of the proposed EPBC Act reforms. The law is meant to safeguard our wildlife and our most precious places like the Great Barrier Reef. Please support closing major deforestation loopholes in the EPBC Act as an urgent and priority issue for the Federal Government.
Sincerely,
Professor James Watson, University of Queensland
Dr. Michelle Ward
Mandy Cheung
Mr Lachlan Cross
Timothy Ravasi
Gillian Rowan
Dr Graham R. Fulton, The University of Queensland
Dr Alison Peel
Dr James Richardson University of Queensland
Luke Emerson, University of Newcastle
Dr Hilary Pearl
Dr Tina Parkhurst
Dr Kerry Bridle
Dr Tracy Schultz, Senior Research Fellow, University of Queensland
Dr. Zachary Amir
Prof David M Watson, Gulbali Institute, CSU
Naomi Ploos van Amstel, PhD candidate
David Schoeman
Associate Professor Simone Blomberg, University of Queensland
Professor Euan Ritchie, Deakin University
Dr Ian Baird, Conservation Biologist
Paul Elton (ANU)
Melissa Billington
Hayden de Villiers
Professor Brett Murphy, Charles Darwin University
Professor Sarah Bekessy
Professor Anthony J. Richardson (University of Queensland)
Prof. Winnifred Louis, University of Queensland
Dr Yung En Chee, The University of Melbourne
Dr Jed Calvert, postdoctoral research fellow in wetland ecology, University of Queensland
A/Prof Daniel C Dunn, Centre for Biodiversity and Conservation Science, University of Queensland
Lincoln Kern, Ecologist
Professor Corey Bradshaw, Flinders University
Dr. Viviana Gonzalez, The University of Queensland
Prof. Helen Bostock
Dr Leslie Roberson
Bethany Kiss
Assoc. Prof Diana Fisher, UQ, and co-chair of the IUCN Marsupial and Monotreme Specialist Group
Dr Jacinta Humphrey, RMIT University
Professor Mathew Crowther
Christopher R. Dickman, Professor Emeritus, The University of Sydney
Fiona Hoegh-Guldberg, RMIT University
Dr Bertram Jenkins
Dr Daniela ParraFaundes
Dr Jessica Walsh
Dr. GABRIELLA scata – marine biologist, wildlife protector
Katherine Robertson
Professor Jane Williamson, Macquarie University
William F. Laurance, Distinguished Professor, James Cook University
A/Prof Deb Bower
Dr Leslie Roberson, University of Queensland
Ms Jasmine Hall, Senior Research Assistant in Coastal Wetland Biogeochemistry, Ecology and Management, Australian Rivers Institute, Griffith University
Dr Kita Ashman, Adjunct Research Associate, Charles Sturt University
Genevieve Newey
Matt Hayward
Jessie Moyses
Natalya Maitz, PhD Candidate, The University of Queensland
Christina Ritchie
Liana van Woesik, PhD Student, University of Queensland
Benjamin Lucas, PhD Researcher
A/Prof. Carissa Klein, The University of Queensland
Conrad Pratt, PhD Student, University of Queensland
Dr Ascelin Gordon, RMIT University
Professor Nicole Graham, The University of Sydney
Professor Murray Lee, University of Sydney Law School
Dr Tracy Schultz, Snr Research Fellow, University of Queensland
Libby Newton (PhD candidate, Sydney Law School)
Hannah Thomas, University of Queensland
Professor Richard Kingsford, Director of the Centre for Ecosystem Science, UNSW Sydney
Dr Anna Hopkins
Lena van Swinderen, PhD candidate at the University of Queensland
Professor Jodie Rummer, James Cook University
Dr Nita Lauren, Lecturer, RMIT University
Dr Christina Zdenek
Madeline Davey
Dr Rachel Killean, Sydney Law School
Dr. Sofía López-Cubillos
Dr Claire Larroux
Dr Alice Twomey, The University of Queensland
Zoe Gralton
Dr Robyn Gulliver
Ryan Borrett, Murdoch University
Adjunct Prof. Paul Lawrence, Griffith University, Brisbane Qld
Professor Susan Park, University of Sydney
Dr Holly Kirk, Curtin University
Deakin Distinguished Professor Marcel Klaassen
Dr Megan Evans, UNSW Canberra
Dr Amanda Irwin, The University of Sydney
Dr Keith Cardwell
Professor Don Driscoll, Deakin University
Susan Bengtson Nash
Distinguished Professor David Lindenmayer
Dr Madelyn Mangan, University of Queensland
Dr Isabella Smith
Geoff Lockwood
Dr Paula Peeters, Paperbark Writer
Prof Cynthia Riginos, University of Queensland
Dr. Sankar Subramanian
Associate Professor Zoe Richards
Dr Jessie Wells, The University of Melbourne
Professor Gretta Pecl AM, University of Tasmania
Dr April Reside, The University of Queensland
Oriana Licul-Milevoj (Ecologist)
Dr Yves-Marie Bozec, University of Queensland
Dr Julia Hazel
Dr Judit K. Szabo
Ana Ulloa
Dr Andreas Dietzel
Philip Spark – North West Ecological Services
Jonathan Freeman
Dr/ Mohamed Mohamed Rashad
The recent discovery of Grimpoteuthis feitiana, a new species of Dumbo octopus found deep in the Pacific, is a reminder of something both humbling and urgent: we still know so little about the ocean that shapes our lives. This fragile, finned creature, gliding silently more than a kilometer beneath the waves, has lived in these waters long before we mapped them, and its story is only now coming to light.
What moves me most about this discovery is not just the Dumbo octopus itself, but how it bridges science and culture. Its name draws inspiration from the flying apsaras of China’s Dunhuang murals, those graceful, winged figures that seem to dance through air and imagination. It reminds me that the deep sea has always held a place in our collective human story, — not only in myths and art, but in the ways we relate to nature, learn from it, and find meaning within it.
Pasifika connection to the ocean
For us in the Pacific, the ocean is more than a body of water. It is our identity, our culture, our history. Our ancestors read the seas to navigate, to survive, to connect communities scattered across islands. Discoveries like this Dumbo octopus awaken something deeper in me, — a sense that the ocean is alive with stories and wisdom we are only beginning to rediscover. And with that understanding comes a responsibility to protect it.
Each new species like the Dumbo octopus, each glimpse into the deep, is a warning as much as it is a wonder. The creatures of the abyss live slow, deliberate lives in fragile ecosystems, shaped by balance and patience. Deep-sea mining, pollution, and climate change threaten to erase them before we even learn their names. Protecting the Pacific’s oceans is not an abstract act of conservation; it is an act of cultural preservation, of love for our home, and for the unseen life that sustains us all.
Grimpoteuthis feitiana is more than a scientific discovery. It is a reminder that the ocean is still full of life, mystery, and wisdom — and that we have a duty to ensure these depths remain wild, healthy, and alive, for us and for the generations yet to come.
Reflection by Raeed Ali
Pacific Community Mobiliser
Nature is not only mother to us all, but our shared witness. Because truly, we are never alone when in the hallowed company of the elements, and life of the earth.
Sometimes, it is the immensity of things which reaches inside you—oceans, sky and sun, or the curve of the terrestrial distance—while at other moments it is the intensity of intimate association at a smaller scale, like a single tree you know as a friend, or a specific combination of scent, stone, water and light, felt uniquely in situ.
In both great and small manifestations, the natural world solemnly and playfully attends our lives as we go about our business on this, our singular living planet.
I felt this sense of nature incarnated as an attentive companion acutely this week, when walking between meetings along the Swan River.
If you grow up in Perth, even in one of the outer suburbs as I did, the Swan River, or Derbal Yerrigan in the language of the Whadjuk Noongar People, is always there as a presence.
The bits I know best feel like a kind of emotional map of the journey through the years, as evocative as any diary. This patch, where I threw a cricket ball around with my best mate in the early evening, laughing at the joy of being alive as the spinning pill arced against the twilight; that slight bend in the path, imprinted with the ambivalent tension of being about to sit university exams; there, the site years ago, of running around at the feet of my Dad, as young as I can remember him; here, a spot that summons the sense of exhausting exhilaration when fecklessly going for a run in the mid-day western heat; and above all that cherished place, I will always associate with love, newly declared and found to be returned.
And other things too, inchoate layers of pleating fragments; thoughts and feelings without number, that will always be evoked in my mind by the sweep of the Swan
What is most evocative or sacred to us is always bound to feeling, rather than the product of any rational calculus. It is also true, though, that geography as memory is complicated by change—something that is a constant in nature; wildly accelerated by human intervention; and now spiralling into the violently unpredictable, because of global heating.
Derbal Yerrigan has no doubt always been changing, in the countless days that the river has flowed since time immemorial; but never altered or transformed in the way has occured since colonisation and industrialisation; nor in the way that is happening now.
I troubled about this while making my way along the Swan this week, and watched as an Australasian darter (Anhinga novaehollandiae) perched on the river wall and spread its wings interstitially, as if gesturing to signify the bonds between the land, water and sky. At that moment, I abruptly remembered that my gaze was not solitary, because far and high in the air behind me were the lidless eyes of the city skyscrapers, including the dark towers of the fossil fuel giants, Woodside and Chevron, staring down with abject contempt for the future.
I suspect like many of us, I feel a perpetual mental struggle between the dissonance of the everyday, which, even despite spring temperatures soaring 15 degrees Celsius above average, still has a normalcy to it that is discordant with what we know about the realities of global warming, and the forecasts of what is to come. The Swan, like all rivers, now faces its most violent test yet of rising temperatures and extreme unnatural events.
The attendance of nature to our lives is not passive. If we think only of ‘the environment’ just as subject, we miss the point of both our own embeddedness in this world, and of the agency of life itself. Every species on earth has an innate energy to flourish and reproduce. The Swan River will keep on rolling, with all of the intense hydrological power at its command. Given half a chance nature will resurge and rebound in wood and feather, tooth and maw.
Our conscious task, I think to myself, but mentally addressing both the bird and the river, is to purposefully draw on the power of this meaning; an internal strength derived from the preciousness of our memories imbricated in place.
I pause and offer a silent pledge to the River: you’ve always been there for us. And in the activism, ingenuity, campaigning and commitment of millions of determined people across Australia and the world, all of whom are dedicated to stopping the destruction of nature and the climate and of securing a return to flourishing, so we will be there for you.
Q & A
Greenpeace campaigns are always solution-led, and one of the questions I have been asked a lot over the years is about our systemic solution for Western Australia to reduce emissions at an emergency speed and scale, and get off gas.
This week, it was terrific to be in Perth, joining colleagues to help launch a comprehensive decarbonisation plan for the state, Power Shift: WA’s Electrified Future written in collaboration with Springmount Advisory.
This report comprehensively shows how WA’s economy can be aligned with the global goal of limiting warming to 1.5°C, and breaks down the transition pathway WA can take across energy, industry, transport and agriculture to achieve this. It highlights the challenges and opportunities across each sector, and provides policy level solutions to achieve these ambitions using only already-existing technologies. You can check out the report here.
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