On 2 December 2023, at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in Dubai, UAE, the Executive Vice President of the European Commission Maroš Šefčovič announced a pledge of more than €20 billion for the Africa-EU Green Energy Initiative (AEGEI). Vice President Šefčovič made the pledge on behalf of Team Europe, the European counterpart of the broader Africa-EU Partnership.