Paris Time Event — Sharm el-Sheikh, Egypt

IEA at COP27: Digitalisation: Strengthening collaboration towards smart power systems

Background information

Egypt Time, GMT +2: 1:00 PM-2:15 PM

The IEA net zero scenario shows a need to ramp-up investment in grids and grid digitalisation, especially in emerging economies. Annual investment in digitalising electricity network needs to increase eightfold by the late 2020s (compared to 2016-2020) to meet the 1,5° climate target. To meet this challenge, measures must be taken in the regulatory, financing and technology fields and international collaboration can help share learnings and accelerate implementation. A number of initiatives have recently been launched, with mutually reinforcing goals around power systems decarbonisation and the role of digital solutions.

The event, co-organised with the Italian Ministry of the Environment and Energy Security and the UN Environment Programme, will bring together key initiatives such as 3DEN (IEA Digital Demand-Driven Electricity Networks Initiative), RETA (The Regulatory Energy Transition Accelerator), GPFM (Green Powered Future Mission), as well as international organisations, leading private sector and emerging economies representatives such as UNEP and Enel to present ways to leverage digitalisation towards power system decarbonisation and gather their insights on opportunities to further strengthen international collaboration on the topic.

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