Vattenfall at COP29: “We are here to help keep up the pace of the transition”

COP 29 runs from 11 to 22 November. The COP is the annual UN climate summit that brings together world leaders – from government representatives to civil society and business leaders – to allow them to agree on ways to accelerate the fight against climate change. 

Vattenfall’s Head of Sustainability, Annika Ramsköld, is on site in Baku to participate, as Vattenfall’s representative, in a large number of panels and roundtables with world leaders, policy makers and industry representatives: the First Movers Coalition, the European Commission, the UN Global Compact and the World Economic Forum are some of the high-level players before whom she has been invited to share Vattenfall’s insights, experiences and views.

“Fossil-free energy production is a key prerequisite for the climate transition in other sectors as well, and so we play an important role. It is particularly important to be there to ensure that the meetings translate into clear plans and to demonstrate urgency. After all, climate change is already a reality. It is extremely worrying and, unfortunately, a very real prospect that, this year, we might end up with a global average temperature that exceeds the critical 1.5-degree target,” Ramsköld says.

What are the key messages from Vattenfall?

“We are there to help keep up the pace of the transition, and to inspire industry and countries to dare to invest by sharing our experiences and good practices.  We are keen to show that business is ready to take its responsibility, that we believe that “sustainability is the business”. We also wish to emphasise the importance of creating partnerships to accelerate development, both within and between industries, so that the entire value chain can become fossil-free. By sharing investments and knowledge with our partners, we will reach our goal faster. In fact, partnership is a prerequisite for leadership. 

Another point is the importance of putting a clear price on carbon dioxide and other greenhouse gas emissions. At present, 75 per cent of global carbon dioxide emissions are not covered by a global emissions trading system, such as the ETS. Finding a solution to this issue needs to be given greater priority.

We also want to show how the transition can and must take place in harmony with people and nature. This applies in equal measure to our new builds, operations that we are decommissioning and our supply chains. It is important that the transition is just and that we ensure that human rights as well as biodiversity are safeguarded.”

What is the status of the energy transition in your view?

"The train is well and truly on the move and there is no stopping it now. We recognise that in some places or areas the speed or timetable may change, but the transition is still heading in the fossil-free direction. As a leading energy company, we are at the centre of this development, and it is our responsibility to help drive it forward," Ramsköld says.

COP29 website: UN Climate Change Conference Baku – November 2024 | UNFCCC