Building a sustainable energy future for the world
The World Bank Group’s recently published report addresses the fundamental issue that economic growth is not possible without adequate energy. This lack of energy will limit opportunity, job...
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Building a sustainable energy future for the world
The World Bank Group’s recently published report addresses the fundamental issue that economic growth is not possible without adequate energy. Currently, 1.2 billion people do not have access to electricity and 2.8 billion are without modern cooking facilities. This lack of energy will limit opportunity, job creation, business development, as well as access to health and education, it says.
The report puts a special focus on the World Bank Group’s plans for expanding energy access and sustainable energy in developing countries, in partnership with the United Nations. These include:
Focusing on the poor in countries with low energy access
Grid, mini-grid and off-grid solutions that help provide affordable and reliable energy. In remote areas, off-grid solutions based on renewable energy solutions combined with energy-efficient technologies could be the most efficient way of producing cost-effective energy services, says the Group. Financial solutions are also available for suitable energy options for the poor and those living in conflicted-affected areas.
Increasing efficiency gains
One of the most cost-effective ways to expand supply and reduce environmental impact would be to scale up energy efficiency efforts according to countries’ needs and opportunities. Examples include increasing the efficiency of the existing energy infrastructure through rehabilitation, moderating demand for energy, adopting more efficient technologies and making cities more energy efficient.
Supporting renewable energy
The World Bank Group will support more expensive energy options with smaller global environmental footprints if there is strong client ownership, or if concessional climate finance can cover incremental costs. The report also mentions how sustainable developments such as hydropower may be the largest available source of affordable renewable energy.
Creating an enabling environment
The report highlights several ways of creating a conducive environment to sustain the energy goals. The World Bank will help governments create the appropriate policy, regulatory, and contractual frameworks, as well as tackle regulatory and financial barriers to the adoption of climate-smart energy solutions. They will continue to be a partner in innovation and technology transfer while encouraging local communities to get involved in achieving sustainable solutions. The report also highlights the importance of finding opportunities for countries to transition to sustainable energy.
The full report can be downloaded from:
http://documents.worldbank.org/curated/en/2013/07/18016002/
BY : the World Bank Group