July 21, 2024
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ELECTRICITY RENEWABLE ENERGY

World off Track to Meet Energy Goals by 2030 – Report

A recent report from the International Energy Agency (IEA), International Renewable Energy Agency (IRENA), United Nations Statistics Division (UNSD), World Bank, and World Health Organization (WHO) reveals that global efforts are insufficient to achieve the Sustainable Development Goal (SDG) 7 for energy by 2030.

SDG 7 aims to ensure access to affordable, reliable, sustainable, and modern energy for all. This includes universal access to electricity and clean cooking, doubling the rate of efficiency improvements, and significantly increasing the share of renewables in the global energy mix.

The 2024 edition of the Tracking SDG 7: The Energy Progress Report, published on Wednesday, highlights that, despite some advancements, current efforts are falling short. There has been notable progress in renewable energy deployment in the power sector, but it is not enough to meet the ambitious targets of SDG 7.

For the first time in over a decade, the number of people without access to electricity has increased, mainly due to a higher population growth rate in Sub-Saharan Africa compared to new electricity connections.

According to the report, contributing factors include the global energy crisis, inflation, growing debt in low-income countries, and geopolitical tensions.

Global commitments from over 130 countries in the UAE Consensus aim to triple renewable generating capacity and double the rate of energy efficiency, but concrete actions needed to realize these goals have been insufficient.

The report also notes a significant disparity in clean energy investment, with 80% concentrated in just 25 countries in 2022.

The report says 2.1 billion people still lack access to clean cooking fuels and technologies, a number that remained largely unchanged last year.

Fatih Birol, Executive Director of the IEA, emphasized the need for increased investment in emerging and developing economies to expand access to electricity and clean cooking technologies.

“Today, only a fraction of total energy investment is going to the countries where the problems of electricity access and clean cooking are critical, not least in Sub-Saharan Africa. Addressing these challenges will bring numerous societal and economic benefits, including gender equality, health, education, and employment. Our recent Summit on Clean Cooking in Africa mobilized USD 2.2 billion, building momentum for further progress,” Birol stated.

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