• Home
  • News
  • In-depth
  • Opinion
  • Energy
    • Wind
    • Marine
    • Solar
    • Biomass
    • Nuclear
    • CCS
    • Infrastructure
  • Policy
    • Politics
    • Legislation
    • Taxation
  • Management
    • Marketing
    • Risk
    • Skills
    • Incentives
    • Carbon Accounting
  • Technology
    • Waste
    • Recycling
    • R&D
    • Efficiency
    • IT
  • Investment
    • Carbon Trading
    • Offsets
    • Venture Capital
  • Net Zero Now
  • Events & Awards
  • SDG Hub
  • Industry Voice
  • Newsletters
  • Sign in
  •  
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
    • You are currently accessing BusinessGreen via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0) 1858 438800

      Email: [email protected]

      • Sign in
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
    • Facebook
    • YouTube
    • Instagram
  • Free Trial
  • Subscribe
  • Events & Awards
    • Upcoming events
      event logo
      NZF Pathway - Finance

      This exclusive half day online event will investigate how all businesses can support and accelerate the transition to low and net zero carbon buildings, while maximising the financial and productivity opportunities that will result.

      • Date: 16 Mar 2021
      • Online Event
      event logo
      Net Zero Festival 2021

      Net Zero Festival is the world's first business festival dedicated to exploring, advancing, and celebrating the global transition to a net zero emission economy. Join us at BusinessGreen's Net Zero Festival – for leaders who won't wait until 2050 to build a better business, and a better world.

      • Date: 27 Sep 2021
      • Worldwide
      View all events
  • SDG Hub
Business Green
Business Green
  • Home
  • News
  • In-depth
  • Opinion
  • Energy
  • Policy
  • Management
  • Technology
  • Investment
  • Net Zero Now
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
  • You are currently accessing BusinessGreen via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0) 1858 438800

    Email: [email protected]

    • Sign in
  • Hot topics
  • Green recovery
  • Net Zero Now
  • Net Zero Leadership
  • Net Zero Finance
Bg bnp hub ribbon
  • Infrastructure

'Falling far short': SEforAll warns global energy goals for 2030 slipping out of reach

In Africa some 600 million people still live without electricity access
In Africa some 600 million people still live without electricity access
  • BusinessGreen staff
  • BusinessGreen staff
  • 13 November 2018
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
0 Comments

Annual investment is at least $20bn short of what is needed to hit target for universal and sustainable electricity access by 2030

The world is "dramatically off-track" to meet global targets for universal energy access by 2030, according to a new report from Sustainable Energy for All (SEforAll) released yesterday.

The paper from the UN-backed body reveals investment in energy access is more than $20bn a year short of the level needed to deliver reliable power supplies to everyone in the world, despite nations having unanimously agreed to pursue universal energy access under the 2030 Sustainable Development Goals (SDGs).

Related articles

  • Winds of change drove series of energy records in Europe throughout 2020
  • Nuveen agrees to acquire specialist renewables investor Glennmont Partners
  • Smart EV charging shifts up a gear with new flexibility partnership
  • Solar Trade Association rebrands as Solar Energy UK

SDG7 pledges to 'ensure access to affordable, reliable, sustainable and modern energy for all' by 2030 and features a raft of targets for accelerating the roll out of low carbon energy infrastructure.

The report shows that in 2016/6 investment in energy access totalled $30.2bn, up on the previous year but still well short of the estimated $52bn needed annually in order to meet the SDG. More worryingly, in target countries investment levels have barely increased over the last year, and in some cases fell by up to 50 per cent, according to the report.

"The good news is that renewables offer us a powerful opportunity to provide reliable and affordable clean electricity both through the grid and off-grid," explained Rachel Kyte, CEO and special representative of the UN Secretary-General for Sustainable Energy for All. "The bad news is that we are not yet seeing a strong enough project pipeline or sufficient levels of public investment that will crowd in private finance to seize this moment of falling prices for revolutionary technology."

Kyte also highlighted a "worrying" uptick in investment for coal-powered energy, which she insisted is "not an answer to energy poverty". Although 54 per cent of finance was channelled into renewables in 2015/6, investment in grid-connected fossil fuel plants accounted for $8bn, double the level recorded in 2013/4.

The paper shows there are still 600 million people living in Africa without energy access, yet only 17 per cent of the total finance tracked in the report was allocated to the region in 2015/6, compared to 32 per cent a year earlier.

Dr Barbara Buchner, executive director of the Climate Policy Initiative, said the report's findings should be a "wake-up call" to policy makers and investors.

"We are falling further and further behind goals for energy access investment," she warned. "Regions with the highest needs, like Sub Saharan Africa, are getting the smallest share, while we're seeing big gaps for some of the technologies with the most promise, like off-grid renewable energy and clean cooking."

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Infrastructure
  • Sustainable Development Goals
  • electricity
  • Africa

More on Infrastructure

Glennmont Partners invests in wind, biomass, solar and small-scale hydro power plants | Credit: Charles Cook
    • Investment
Nuveen agrees to acquire specialist renewables investor Glennmont Partners
    • Investment
    • 19 January 2021
Controversy continues to exist over the size of the emissions reductions carbon dioxide removal processes will be able to deliver
    • CCS
Necessity or distraction? How carbon capture and negative emissions debates are starting to heat up
    • CCS
    • 19 January 2021
The market for smart home technologies is expected to grow in the coming years | Credit: simpson33
    • Energy
Smart home energy market the focus of new consumer protection drive
    • Energy
    • 15 January 2021
The survey points to bullish confidence in the resilience of green energy to the disruption of the pandemic
    • Workplace
Poll: Renewables workers 'unfazed' by Covid-19 impact on industry
    • Workplace
    • 12 January 2021
Wind and solar capacity worldwide continued to grow in 2020 despite the Covid-19 pandemic
    • Energy
IEA plots 'world's first' net zero roadmap for global energy sector
    • Energy
    • 12 January 2021
Smart meters can save on money as well as CO2
    • Infrastructure
Save your energy for a greener 2021
    • Infrastructure
    • 11 January 2021
Nissan's Leaf (pictured) and e-NV200 models are both capable of vehicle-to-grid charging
    • BusinessGreen
Back two-way EV charging technology to slash costs and emissions, white paper urges
    • BusinessGreen
    • 08 January 2021
Many governments expect hydrogen to play a critical role in reaching net zero
    • Energy
Decarbonising the final 20 per cent: Is hydrogen up to the challenge?
    • Energy
    • 07 January 2021

More news

Winds of change drove series of energy records in Europe throughout 2020
  • Energy
Winds of change drove series of energy records in Europe throughout 2020

Wind farms delivered their highest ever contribution to Europe's power mix as conventional coal and gas energy fell to a record low in Britain, according to new analysis from EnnAppSys

  • 19 January 2021
Nuveen agrees to acquire specialist renewables investor Glennmont Partners
  • Investment
Nuveen agrees to acquire specialist renewables investor Glennmont Partners

Trillion-dollar US fund manager to purchase UK clean infrastructure investor in bid to tap 'one of the most dynamic and fastest growing infrastructure sectors'

  • 19 January 2021
Smart EV charging shifts up a gear with new flexibility partnership
  • Technology
Smart EV charging shifts up a gear with new flexibility partnership

A new charging app will enable consumers to set a 'ready by time', enabling their electric vehicle to charge at times when energy demand is low

  • 19 January 2021
The deadline for delivering net zero buildings future is fast approaching
  • Buildings
The deadline for delivering net zero buildings future is fast approaching

Businesses and policymakers must set clear and credible pathways to reach a net zero buildings future as soon as possible, explains AECOM's Robert Spencer

  • 19 January 2021
blog comments powered by Disqus
Back to Top

Most read

Mars and DHL plot £350m UK logistics hubs to slash one million road miles
Mars and DHL plot £350m UK logistics hubs to slash one million road miles
Essar and Progressive Energy plot £750m hydrogen CCS hub in Cheshire
Essar and Progressive Energy plot £750m hydrogen CCS hub in Cheshire
How NatWest Group is measuring its working-from-home emissions
How NatWest Group is measuring its working-from-home emissions
BYD and ADL to expand UK electric bus manufacturing operations
BYD and ADL to expand UK electric bus manufacturing operations
Study: Fleet electrification primed to soar as heavier-duty EVs come online
Study: Fleet electrification primed to soar as heavier-duty EVs come online
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters
  • Facebook
  • YouTube
  • Instagram

Incisive Footer Logo

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading