Universal electricity access goal set to be missed, new report reveals

(EurActiv, 12 Nov 2018) The international community is falling well short of providing the cash needed to ensure universal access to electricity by 2030, according to a report released on Monday (12 November).

At the Paris climate change summit in 2015, wealthy countries agreed to provide at least US$100 billion a year in climate finance by 2025.

However, the ‘Energizing finance’ report by Sustainable Energy for All (SEforALL) reveals that finance for electricity projects in 20 ‘high-impact’ countries, which represent 76% of those without electricity access, increased from $19.4 billion in 2013-14 to $30.2 billion in 2015-16.

That is still well short of the $52 billion needed to provide electricity for all by 2030. Fifteen of the ‘high impact’ countries are in Africa and 5 in Asia.

The next Conference of the Parties meeting on climate change will take place in Katowice in December.

“Despite the high-flown rhetoric…the underlying financial health of this market is not one that is going to get us to speed and scale,” Rachel Kyte, chief executive of Sustainable Energy for All and special representative of the UN Secretary-General for Sustainable Energy for All, told EURACTIV.

Kyte added that the Sustainable Development Goal (SDG 7) on electricity access and the Paris objectives would not be met on current trends.

While international public finance fell to $8.8 billion in 2015-16 from $10.5 billion in 2013- 14, private finance more than trebled from $4.6 billion to $15.1 billion in 2015-16.

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EurActiv, 12 Nov 2018: Universal electricity access goal set to be missed, new report reveals