Focus on Arts and Ecology

24 April 2024 

STORY HIGHLIGHTS

Identifying lack of finance as a key barrier to the clean energy transition, participants called for increased investments, especially in developing countries, and for means to overcome barriers to accessing energy finance.

They identified capacity support to develop attractive investment environments through appropriate regulatory frameworks as an enabling factor for meeting SDG 7.

A Global Stocktaking on Sustainable Energy recognized that while the world is seeing a steady growth in renewable energy capacity, the pace is too slow to meet SDG 7 (affordable and clean energy) by 2030. To accelerate progress, President of the UN General Assembly (UNGA) Dennis Francis issued a call to action to prioritize measures to ensure electricity access for the 685 million people lacking it and to provide clean cooking solutions for more than 2 billion people currently relying on dirty fuels.

Francis called for a tripling of global investment in renewable energy and energy efficiency by 2030, especially for least developed countries (LDCs), landlocked developing countries (LLDCs), and small island developing States (SIDS). He encouraged Member States, civil society, and other stakeholders to support his call to action to sustain and strengthen international dialogue and cooperation on energy at the UN.

According to the Earth Negotiations Bulletin (ENB) summary report of the meeting, the Stocktaking reviewed progress achieved at the end of the 2014-2024 UN Decade of Sustainable Energy for All. It sought to raise ambition, accelerate action, and scale up partnerships and financing, following on from the High-level Dialogue on Energy (HLDE) in September 2021.

Identifying lack of finance as a key barrier to the clean energy transition, participants called for increased investments, especially in developing countries, and for means to overcome barriers to accessing energy finance. They identified capacity support to develop attractive investment environments through appropriate regulatory frameworks as an enabling factor for meeting SDG 7.

Another frequently cited priority was the need for clean cooking solutions. Many emphasized its importance for the health and well-being of populations.

The Global Stocktaking on Sustainable Energy (SDG 7) took place on 19 April 2024 at UN Headquarters in New York, US, and included thematic debates on closing the energy access gap and transitioning to decarbonized energy systems and on addressing energy’s interlinkages and strengthening means of implementation and partnerships. It was organized as part of the UNGA Sustainability Week convened by the UNGA President from 15-19 April, with support from the UN Department of Economic and Social Affairs (DESA) and in collaboration with UN-Energy. Other events held during the UNGA Sustainability Week focused on sustainable transport, infrastructure connectivity, tourism, and debt sustainability.

(Sources: International Institute for Sustainable Development)