Increasing collaboration between the Global North and South for a successful transition  

Solving climate change challenges and ensuring a successful energy transition will require increased collaboration between the Global North and the developing economies of the Global South, inclusive of financing, technology and clean energy skills. The energy transition will reshape the global industrial and competitive landscape. New centers of low-cost, low-carbon energy will emerge, and industries in which energy accounts for a sizable share of overall costs—for example, ammonia production, data centers, aluminum, pulp and paper, and steel manufacturing—could be leading candidates to relocate. Enhanced collaboration across these new value chains is essential, and governments and private sector across the North and South need to work together to ensure effective and sustainable integration. The Global North must take action to enable substantial de-risked investment across several critical fronts to ensure energy access and affordability in the Global South. How can governments and businesses catalyse socio-economic development, including integration of value chains, ensure access to technology and a skilled workforce, provide supportive international partnerships, create viable carbon markets and incentivise energy transition policies?