UN-Energy has launched its second annual Energy Compact progress report, showing an uptick in “Energy Compact” voluntary commitments, to be implemented by 2030. The report emphasizes that while energy commitments have topped the trillion-dollar mark, between USD 22 trillion and USD 48 trillion in additional investments is needed to address energy poverty and support decarbonization for a green transition.

According to the report, Energy Compact commitments show ambition to achieve SDG 7 (affordable and clean energy) through actions to improve energy access, increase the share of renewables, and enhance energy efficiency. These actions, it notes, also contribute to other SDGs, including SDGs 3 (good health and well-being), 8 (decent work and economic growth), 11 (sustainable cities and communities), and 17 (partnerships for the Goals).

The report shows “encouraging movement, most notably towards electricity access and installed renewable energy capacity.” However, clean cooking has been marked by relatively slower growth, revealing the need for sustained action.

The report highlights that Energy Compacts submitted by Member States and the private sector include 22 net-zero pledges with varying timelines and over 300 partnerships in support of SDG 7. It draws attention to the Energy Compact Action Network, which represents a diverse community of proponents with commitments that go beyond 2030, working towards a just and inclusive energy transition.

In a foreword, UN-Energy Co-Chairs Achim Steiner, Administrator of the UN Development Programme (UNDP), and Damilola Ogunbiyi, Special Representative of the UN Secretary-General for Sustainable Energy for All, describe the report as “a clarion call to action, urging Member States, the private sector, and multistakeholder coalitions to go further and faster toward addressing the pressing energy challenges of our time.”

Of the 193 Energy Compacts currently registered, 51 reflect commitments from Member States, 59 are from the private sector, and 83 are “catalytic partnerships involving a range of stakeholders,” according to the report.

Produced by UN-Energy, with support from Sustainable Energy for All (SEforALL), the report was launched on 15 September. A high-level event on SDG Acceleration Day, 17 September, focused on how Energy Compacts are a vehicle to scale up ambition on SDG 7.

The UN Secretary-General identified Energy Compacts as one of 12 High Impact Initiatives for the UN development system to mobilize around for the SDG Summit. [Publication: Energy Compacts: Annual Progress Report 2023] [UN-Energy] [UN-Energy Press Release]