As COP29 concluded in Baku with a landmark agreement on finance, the collective effort to drive climate action took a bold step forward. On November 14, during COP29 Finance, Investment and Trade Day, 12 Development Finance Institutions (DFIs)—spanning international and national levels—united to pledge their support for the 10 GW Lighthouse Initiative. This transformative initiative aims to bring renewable hydrogen projects of 100 MW to 1 GW to Final Investment Decision (FID) by 2030 in Emerging Markets and Developing Countries (EMDCs).

It is a pivotal contribution to the COP-centered Breakthrough Agenda, championing international collaboration to make clean technologies and sustainable solutions, like hydrogen, affordable, accessible, and attractive for all regions and sectors by 2030. This commitment underscores the essential role of public and private sectors in accelerating the green transition and empowering EMDCs to lead the charge toward a net-zero future.