A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

World Still Off-course on SDG 7

Progress to ensure basic energy access globally has stalled for the first time, according to a new report assessing contributions to the UN Sustainable Development Goal (SDG) 7. SDG 7 focuses on ensuring access to affordable, reliable, sustainable and modern energy for all. The report was co-authored by the International Energy Agency (IEA), International Renewable Energy Agency, UN Statistics Division, World Bank and World Health Organization. The organisations noted that, although progress has been made on specific elements of the SDG 7 agenda, such as an increased rate of renewables deployment in the power sector, it remains insufficient to achieve the goal. The number of people without access to electricity increased for the first time in over a decade as world populations grew, counting 685 million people without electricity in 2022 – ten million more than the previous year. Around 80% of this population (570 million) was based in sub-Saharan Africa. A further 2.1 billion people still lived without access to clean cooking fuels and technologies. Meanwhile, international public finance flows supporting clean energy development rebounded to US$15.4 billion the same year, representing a 25% increase. “To achieve SDG 7, we will need much more investment in emerging and developing economies to expand access to electricity and to clean cooking technologies and fuels,” said Fatih Birol, Executive Director of the IEA. “In addition to climate and environmental benefits, addressing these challenges will bring a range of societal and economic advantages, linked to gender equality, health, education and employment.” Separately, IRENA convened its 27th council meeting in Abu Dhabi today, gathering representatives from 105 countries to discuss critical issues facing the energy transition – just days after UN Secretary-General Antonio Guterres issued an urgent call for climate action.

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top