SEforALL: Progress on global energy goals remarkable but needs to pick up to hit 2030 targets

The pace of progress on sustainable energy during 2012-14 fell short of what is needed to meet the global objectives by 2030, according to the third edition of the Sustainable Energy for All (SEforALL) Global Tracking Framework launched by the World Bank and the International Energy Agency (IEA).

By 2030, SEforALL aims to achieve:

• Universal access to modern energy
• Double the historic rate of improvement of energy efficiency
• Double the share of renewable energy in the global energy mix

Of these aims, energy efficiency is closest to advancing at the pace of change required to meet the 2030 objective. Progress in reducing the energy intensity of the global economy accelerated during 2012-14, improving by a 2.1% compound average annual growth rate against SEforALL’s objective of 2.6%.

Progress on universal access to modern energy has stalled, with global electrification reaching 85.3% in 2014; while the share of renewable energy in total final energy consumption in 2014 climbed to 18.3%, which is still far off the goal of 36% by 2030.

Based on the Global Tracking Framework, current efforts will not reach the targets set by the international community for 2030, even after taking into account new policy commitments made under COP21 and favorable technology trends like the steep reduction in the costs of solar photovoltaics.

To learn more about kinds of targeted efforts in which places offer the best prospects for accelerating global progress in coming years, please view the full report here.

By : SEforALL