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The world is making progress toward SDG 7 but is not on track to meet 2030 targets at current ambition levels. While electricity access has expanded significantly, particularly in India, Bangladesh, and Kenya, Sub-Saharan Africa still faces a massive deficit. Clean cooking access is lagging due to population growth, and while renewable energy and energy efficiency are improving, they remain below the required rates to meet 2030 goals. Achieving these targets will require a substantial increase in annual investments across all three areas.

The document assesses the gap between current climate-specific mitigation finance and the levels required to meet a 2°C target. It highlights that while estimates vary widely due to differing assumptions and metrics, current investments are insufficient, particularly in developing countries. The analysis distinguishes between total climate-specific investment, incremental investment (above business-as-usual), and net climate-relevant finance (which accounts for avoided fossil fuel infrastructure).