The proposed global roadmap shows how universal access to sustainable energy can be achieved by 2030.
A picture explaining the building hosting International renewable energy headquarters in Abu Dhabi United Arab Emirates.
Everyone in the world could have access to clean, affordable
energy within the next nine years if countries modestly increase investments. A new reports released ahead of next week’s ministerial
meeting on sustainable energy says that will require annual investments of
around $35 billion.
With the $35 billion investment could bring electricity
access for 759 million people who currently lack it, and $25 billion a year can
help 2.6 billion people gain access to clean cooking between now and 2030.
The
report comes ahead of next week’s ministerial meeting where major commitments are
to be announced to accelerate access and transition to clean energy by 2030.
Annual investments of around $35 billion could bring electricity access for 759
million people who currently lack it, and $25 billion a year can help 2.6
billion people gain access to clean cooking between now and 2030.
The required investment represents only a small fraction of
the multi-trillion-dollar global energy investment needed overall, but would
bring huge benefits to one-third of the world’s population.
The recommendations on energy access are part of a proposed global roadmap with
concrete actions to achieve clean, affordable energy for all by 2030 and net
zero emissions by 2050, launched by the United Nations this week.
National and city governments, foundations and businesses
are expected to start announcing significant commitments in the form of “Energy
Compacts” at Ministerial The ministerial forums to be held 21-25 June come
ahead a summit to be convened by the UN in September.
“The ambitious energy compacts being put forward by countries, businesses,
cities, and many other partners are a spark of hope for achieving a just
transition towards sustainable energy and for improving the lives of millions
of people in the process,” said Dialogue Secretary-General Liu Zhenmin, UN
Under-Secretary-General for Economic and Social Affairs.
“But this is only the
beginning and we need much more commitment and concrete action at this year’s
High-level Dialogue on Energy to get where we need to be by 2030.”
The proposed roadmap, which will inform the High-level Dialogue on Energy in
September and be considered in the political statement resulting from the
summit, is based on reports submitted by five Technical Working Groups that
have brought together over 160 experts since March, co-led by 16 UN and
international organizations, grouped by thematic focus.
The five focus areas are: energy access; energy
transition; enabling the Sustainable Development Goals (SDGs) through
inclusive, just energy transitions; innovation, technology and data; and
finance and investment.
A system overhaul to speed up energy transition
In order to achieve the SDGs and Paris Agreement targets, energy transition
must become a transformational effort, a system overhaul, the proposed roadmap
suggests.
The reports recommend a rapid scale-up of available
solutions to reach 8000 GW of renewables by 2030 from 2800 GW currently, and to
increase the average annual rate of energy efficiency improvement from the
current 0.8 to 3 per cent.
By 2025, 100
countries should establish targets for 100% renewable-based power, and there
should be no new coal plants in the pipeline globally. The share of fossil
fuels in the global mix would fall from the current 60 per cent to 30 per cent
by 2030.
The proposed roadmap also calls for countries to phase out coal by 2030 in
wealthier countries that are members of the Organisation for Economic
Co-operation and Development (OECD), and by 2040 in non-OECD countries,
recognizing that many developing countries will need support for this process.
By 2050, 92 per cent of power would come from renewable technologies.
“The energy revolution is underway, but 759 million people still live without
electricity and the opportunities it provides,” said Achim Steiner,
Administrator of the UN Development Programme and Co-Chair of the High-level
Dialogue.
“It is one of the most blatant examples of inequality in our world
today. Affordable clean energy access for all is the foundation for achieving a
global energy transition that is fast and fair.”
A just and inclusive transition to achieve the SDGs
“At the upcoming Ministerial Forums, we will see bold commitments put forward
as Energy Compacts as well as large financial commitments from partner
institutions, and we need more of them, to ensure we leave no one
behind and that we transition in a just and inclusive manner to net zero
by 2050,” said his Co-Chair, Damilola Ogunbiyi, Special Representative of the
UN Secretary-General on Sustainable Energy for All.
“This is an
opportunity of our lifetime to provide universal energy access by leveraging
new partnerships and technologies, and funding innovations that can create a
cleaner, brighter and more equitable economic future.”
The reports indicate that a just and inclusive energy transition can create 30
million new jobs in sustainable energy by 2030 and 42 million by 2050.
They
call for ensuring gender equality in all aspects of energy transition,
including more women taking on roles as engineers, policymakers and
entrepreneurs.
The reports argue that every country and region should integrate
achievement of the Sustainable Development Goals as a guiding framework for
energy transition strategies.
Policymakers must explicitly prioritize the needs
of vulnerable groups in order to enable an inclusive and just energy
transformation and achievement of all the SDGs.
Scaling up energy innovation and new technologies
On the role of innovation and technology, the proposed roadmap calls for
scaling up research and development (R&D) and investment to align with the
2030 and 2050 goals, recognizing that private energy R&D funding has
increased 40 per cent since 2010.
Global investment in renewable energy
capacity reached around $300 billion in 2019, with only 5 per cent invested in
Africa, home to 82 per cent of those living without energy access.
The reports also acknowledge that many technologies for achieving the 2030
and 2050 goals exist but require innovations that accelerate and scale-up their
deployment.
In addition, the reports call for increased financing and
investment to address lack of finance for local energy innovations in
developing countries. Data systems need to be enhanced to better inform energy
policies and direct investment decisions.
A tripling of clean energy investment by 2030
Recommendations on financing and investment needed to achieve the 2030 and 2050
energy targets call for a tripling of clean energy investment to $5 trillion
per year by 2030.
The trillions of dollars in investments needed can be
supported by scaling up the use of blended finance mechanisms and multilateral
portfolio guarantees coupled with results-based financing, de-risking
instruments and commercial financing, as well as reducing regulatory barriers
to attract private investment.
The Energy Compacts announced at the June Forums will be made public and
tracked in an online database, with annual reporting through 2030.
It is
expected that many more commitments will be announced towards the September
High-level Dialogue from national and local governments, businesses,
foundations and civil society organizations.