How greater energy ambition can rescue COP28

The author proposes a 'Modern Energy Minimum' of 1,000 kilowatt-hours per person per year to ensure that climate action does not compromise economic development in poor nations. The text argues that while 760 million people lack basic electricity, over 3 billion lack reliable energy sufficient for modern appliances and productive jobs. To achieve this, the document calls for reforms in multilateral development bank financing, suggesting a shift from commercial-style lending to a blend of grants and low-cost loans to unlock private capital and support infrastructure in low-income countries.

• The document proposes a 'Modern Energy Minimum' of 1,000 kilowatt-hours per person per year, which is intended to support living standards and economic opportunity beyond basic electricity access. This level of consumption correlates to an average annual per capita income of $2,500, representing the mid-point for lower-middle income status.
• There is a significant gap between basic energy access and reliable energy for development; while 760 million people lack basic access, more than 3 billion people live without reliable or sufficient energy to power modern appliances and productive jobs.
• Current public financing agencies often operate like commercial banks with insufficient risk appetite, leading to a preference for safer investments over those in low-income countries. The author argues for more grants to leverage private sector capital through low-cost loans and guarantees, citing the US National Rural Electrification Act of 1936 as a successful model of prioritizing development over loan repayment.
• Increasing energy consumption in poor nations, particularly in Africa, is argued to be compatible with global climate goals because these regions start from a very low consumption base and often utilize the cleanest available energy sources.

APA

Moss, A. D. A. H. T. (2023). How greater energy ambition can rescue COP28. World Economic Forum. https://www.weforum.org/stories/sustainable-development/cop28-energy-ambition/

Chicago

Moss, Ashvin Dayal, Andrew Herscowitz, Todd. How greater energy ambition can rescue COP28. World Economic Forum, 2023. https://www.weforum.org/stories/sustainable-development/cop28-energy-ambition/.

Wikipedia

{{cite press release |last1=Moss |first1=Ashvin Dayal, Andrew Herscowitz, Todd |title=How greater energy ambition can rescue COP28 |publisher=World Economic Forum |date=7 November 2023 |url=https://www.weforum.org/stories/sustainable-development/cop28-energy-ambition/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{moss2023how, author = {Moss, Ashvin Dayal, Andrew Herscowitz, Todd}, title = {{How greater energy ambition can rescue COP28}}, publisher = {World Economic Forum}, year = {2023}, month = nov, url = {https://www.weforum.org/stories/sustainable-development/cop28-energy-ambition/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }