Finance for electricity access too little, too dirty - energy body

(Reuters, 12 Nov 2018) Funding for new access to power is still going to coal plants, which drive climate change and can cause health problems, experts say.

Finance to provide electric power to nearly 1 billion people who live without it is rising - but too slowly to meet a global goal to reach everyone by 2030, an international body said on Monday.

Meanwhile, funding to expand cleaner, more energy-efficient cooking has declined, Sustainable Energy for All (SEforALL) said in a report that compared financing levels in 2015 and 2016 with the preceding two-year period.

In 20 countries that are home to nearly four-fifths of those who lack access to power, electrification finance rose by 56 percent to an average of about $30 billion per year in 2015-2016.

But that is still far below the $52 billion needed each year, the report said.

And more than a quarter of the annual investment in 2015 and 2016, or $8 billion per year, was for grid-connected fossil fuel plants, double spending on them in 2013-14 - something "the global community may be concerned to note", it added.

China provided a fifth of that fossil-fuel expansion money.

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Reuters, 12 Nov 2018: Finance for electricity access too little, too dirty - energy body