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Focus on grids growth as global utilities pledge $1tn energy transition spending

( November 17, 2025, 09:37 GMT | Official Statement) -- MLex Summary: The world's leading utility companies have pledged to increase spending on energy transition investments to a total of more than $1 trillion in the decade to 2030, led by the Utilities for Net Zero Alliance, a group of utilities and power companies. In a statement published on Friday at the COP30 UN climate conference, they said annual spending would rise by more than one quarter to $148 billion, with a greater focus on power grids and networks. Governments and banks also backed new financing principles to boost grid funding in emerging economies, aiming to accelerate renewable deployment and strengthen global power systems.Press release follows. ...

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