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ENERGIZING FINANCE: UNDERSTANDING THE LANDSCAPE
The 2020 report by Sustainable Energy for All reveals a widening gap between the investment needed and the finance actually committed to achieve universal energy access by 2030. In 2018, only USD 16 billion was tracked for residential electrification against a required USD 41 billion, and clean cooking finance reached USD 131 million, far below the estimated USD 4.53 billion annual need. The report highlights a geographic mismatch, where Sub-Saharan Africa accounts for 70% of people in HICs without electricity but received less than 20% of the total electricity access finance. Furthermore, the report notes a concerning trend toward fossil fuel-generated electricity and a lack of private sector investment in clean cooking. It recommends coordinated action from donor governments and DFIs in Sub-Saharan Africa, the termination of fossil fuel project financing, and the adoption of innovative business models for off-grid solutions.
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Document type: Report