New York, 18 June 2021
– Everyone in the world could have access to clean, affordable energy within the next nine years if countries modestly
increase investments, according to new reports released today, in advance of a major ministerial meeting on 21-25 June
where countries and businesses will begin to announce energy plans for the decade.
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 today, to set the
groundwork for a large-scale mobilization of commitments this year.
National and city governments, foundations and businesses are expected to start announcing significant commitments in
the form of “Energy Compacts” at Ministerial Forums to be held 21-25 June, driving action towards a High-level Dialogue
on Energy, a summit to be convened by the UN in September. Major Energy Compact commitments and partnerships for clean
electricity access and cooking solutions are among those expected to be announced during the June Forums, which are
co-hosted by thirty
.
“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) and investment to align with the 2030 and 2050 goals, recognizing that private energy R 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.