Page 21 - Vol 33 Issue 34 2021

SDG 7 energy

The report examines various ways to bridge efforts need to accelerate in all end-use sectors financial support continue to be concentrated in
the gaps to reach SDG7, chief among them the to scale uptake of renewables while containing a few countries and failing to reach many of those
goal of significantly scaling up renewables - which total energy demand. most in need. Flows to developing countries in
have proven more resilient than other parts of Energy intensity improvements (a proxy for support of clean and renewable energy reached
the energy sector during the COVID-19 crisis. e ner gy efficiency) are moving further away from $14 billion in 2018, with a mere 20 percent going
While renewable energy has seen unprecedented the target set under SDG7 for 2030. The rate of glo- to the least-developed countries, which are the
growth over the last decade, its share of total bal primary energy intensity improvement in 2018 furthest from achieving the various SDG7 targets.
final energy consumption remained steady as was 1.1 percent compared to 2017, the lowest An increased emphasis on “leaving no one
global energy consumption grew at a similar rate. average annual rate of improvement since 2010. behind” is required in the years ahead.
Renewables are most dynamic in the electricity The annual improvement until 2030 will now need “On a global path to achieving net-zero e mis-
sector, reaching around 25 percent in 2018, while to average 3 percent if we are to meet the goal. sions by 2050, we can reach key sustainable ener-
progress in the heat and transport sectors have Accelerating the pace of progress across all gy targets by 2030 as we expand renewables in
been much slower. regions and indicators will require stronger all sectors and increase energy efficiency,” said
More than one third of the increase in political commitment, long-term energy planning, Fatih Birol, Executive Director of the International
renewable energy generation in 2018 can and adequate policy and scale incentives to spur Energy Agency. “Greater efforts to mobilise and
be attributed to East Asia – driven by large faster uptake of sustainable energy solutions. scale up investment are essential to ensure that
uptakes of solar and wind energy in China. The Although clean energy investments continue to energy access progress continues in developing
largest country-level advances in renewable be sourced primarily from the private sector, the eco nomies. Providing electricity access and clean
energy in 2018 were observed in Spain, owing public sector remains a major source of financing cooking solutions to those people who are de-
to higher hydropower generation, followed by and is central in leveraging private capital, prived of them today costs around $40 billion a
Indonesia where a rapid uptake of bioenergy particularly in developing countries and in a post- year, equal to around 1% of average annual energy
for power generation played a substantial role. COVID context. One of the newest indicators in sector investment on a path to net zero by 2050.
To significantly increase the share of renewable the report, international public financial flows to This fairer and cleaner energy future is achievable
energy in line with the SDG 7 target, current developing countries, shows that international if governments work together to step up actions.”

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