EDP joins global call to energy competitiveness and climate action ahead of COP31
EDP is among more than 130 global companies that have endorsed the Alliance of CEO Climate Leaders Open Letter to the COP31 Presidency, which will take place from 9 to 20 November in Antalya, Turkey. The letter delivers a clear message: the low-carbon transition is a strategic economic engine as well as a climate imperative. Realising it now requires faster delivery, supported by stable, predictable and climate science-aligned policy frameworks that unlock innovation, investment and long-term market growth.
Representing more than 130 companies, around 4 trillion dollars in revenues and over 13 million employees, the Alliance - an initiative of the World Economic Forum – argues that climate action and business performance can reinforce one another. Between 2019 and 2024, Alliance members reduced their aggregate emissions by approximately 9% while increasing revenues by more than 13%, demonstrating that decarbonisation and business value creation can go hand in hand.
The Alliance of CEOs is releasing this open letter one month before COP31, the 31st United Nations Climate Change Conference. The event will gather governments, businesses, investors, and civil society organisations to accelerate the implementation of the Paris Agreement and enhance the global response to climate change.
The letter highlights that green markets continue to expand despite economic disruption and uneven policy support. Between 2020 and 2024, green revenues grew at twice the rate of conventional revenues, while the global green economy, already worth more than 5 trillion dollars in 2024, is projected to reach 7.1 trillion by 2030. By supporting this initiative, EDP reinforces its commitment to accelerating the energy transition and helping create the conditions needed to unlock investment, innovation and the large-scale deployment of proven clean energy solutions.
In the letter, business leaders call on policymakers to create stable and investable regulatory frameworks, mobilise capital for decarbonisation and adaptation solutions, accelerate electrification, energy efficiency and affordable low-carbon energy, invest in critical infrastructure such as grids and storage, and strengthen the resilience of economies and value chains.
The signatories also call for stronger collaboration between governments and businesses to scale proven climate solutions, create markets for emerging technologies and build more competitive and resilient economies. Their message is that COP31 must focus on closing the gap between ambition and delivery by creating the conditions for solutions to scale faster and more effectively.
In brief: 4 key messages from the CEO’s Open letter
1. The low-carbon transition is strengthening energy security, competitiveness, resilience and long-term growth. In an increasingly volatile world, climate action and business performance can reinforce one another. Capturing the full economic opportunity now requires faster delivery, underpinned by stable, predictable and climate science-aligned policies that unlock innovation, investment and market growth.
2. Green markets are scaling rapidly despite disruption and uneven policy support. Between 2020 and 2024, green revenues grew at twice the rate of conventional revenues: the global green market exceeded 5 trillion dollars in 2024 and is projected to reach 7.1 trillion by 2030. Competitive solutions are opening commercial opportunities in low-carbon energy, energy efficiency, circularity, and sustainable agriculture, while reducing costs and enhancing supply security and resilience.
3. Decarbonization and climate resilience are becoming key drivers of business competitiveness. Investing in low-emission operations, affordable low-carbon energy, and resilient supply chains can help companies mitigate energy price volatility, supply disruptions, and climate risks. These investments safeguard margins, enhance productivity, and ensure competitiveness in emerging low-carbon markets.
4. COP31 must turn ambition into delivery. The economic opportunity is evident, but scaling solutions is the challenge. Governments and businesses need to collaborate to turn commitments into stable policies, mobilize capital, streamline permitting, enhance workforce skills, and create demand for new technologies. Closing this gap is crucial to deploy solutions at the necessary speed and scale.