A new analysis of the energy finance provided by the African Development Bank (AfDB) shows that while financing for clean energy access has increased since the bank’s landmark New Deal on Energy for Africa, support for off-grid and mini-grid solutions — often the fastest and most affordable energy access solutions — must accelerate if Africa is to realize universal energy access by 2030.
As the African Development Bank (AfDB) kicks off its first-ever Africa Investment Forum in South Africa, a new report finds that the AfDB’s own support for the most cost-effective energy access solutions lags far behind what is needed – in contrast to its world-leading pledge to scale up energy access on the continent.
An analysis by the SUN DAY Campaign of both historic and recent data from the U.S. Energy Information Administration (EIA) suggests that while progress has been made on some fronts since the 1973 Arab oil embargo, in other ways America’s energy situation may have actually worsened over the past 45 years.
While the MDBs endorsed the Sustainable Development Goals, this new report shows that from 2014 through 2017, MDBs directed just 2% of their energy finance toward the off-grid and mini-grid energy solutions.
Overall, the MDBs are not financing energy access at nearly a sufficient level to meet the needs of energy-poor communities. Much of the energy access finance that is being provided is being directed to many of the communities that need it most. But even so, energy access is not reflected as a priority for the MDBs.
“While this new commitment is an important step forward, it’s not enough. Millions of people are currently being left behind when it comes to accessing clean, affordable energy. The World Bank must commit to significantly scaling up its finance to support energy access for those without it, particularly for distributed renewable energy solutions.”
According to a new analysis of data, last year solar was the “star performer” in terms of new electricity generation, as renewables once again outstripped fossil fuels.
A Trump vs. the world showdown is brewing at this year’s G20 leaders’ summit, July 7 and 8 in Hamburg, Germany. After pulling the United States out of the Paris Agreement, Trump’s climate denial will likely take a beating from other G20 governments, who nearly all say they support strong climate action. An ugly diplomatic … Read More
Both nominees and Senators alike appeared oblivious to the fact that gas is as dirty as coal and that significantly increasing gas reliance through new pipelines and liquefied natural gas export facilities is incompatible with a stable climate.
“Fossil fuels have lost,” argues Eddie O’Connor, chief executive of Irelands’s Mainstream Renewable Power company, before adding: “The rest of the world just doesn’t know it yet.”