18 September 2017: Assessing the amount of financing needed to achieve the SDGs is daunting, however another challenge is to track how much financing is provided for a specific target and whether it is disbursed effectively. Sustainable Energy for All (SEforAll) has released a series of reports aiming to answer this question regarding financing for access to affordable, reliable, sustainable and modern energy for all (SDG 7).

The ‘Energizing Finance’ report series comprises four publications that track and analyze finance flows on energy access and clean cooking access in 20 high impact countries in Sub-Saharan Africa and Asia representing 80% of people without electricity access. The reports investigate the amount and type of international and domestic finance flowing to these countries, how effectively and quickly funds are disbursed, and the needs and challenges of renewable energy businesses operating in these countries.

The overarching finding across the four reports is that current finance flows are not on track to achieve SDG 7. Current finance flows to the 20 high impact countries for electricity access are US$19.4 billion compared to an estimated US$45 billion necessary to achieve universal access to electricity. Regarding access to clean cooking, only US$32 million were provided in the 20 countries representing 84% of the global population without access, compared to an estimated global need of US$4.4 billion.

“We urgently need targeted, refined strategies to increase investment in integrated electricity solutions” – Rachel Kyte CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All

The studies also find that opportunities exist to direct finance flows more strategically towards the highest impacts needs. Speaking at a release event, Rachel Kyte CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All said that “we urgently need targeted, refined strategies to increase investment in integrated electricity solutions. For example, the reports show that only 1% of finance flows were dedicated to affordable, decentralized energy solutions, which are potential high impact solutions to provide electricity access to people in remote rural areas.

To date the following reports have been released:

• ‘Energizing Finance: Scaling and Refining Finance in Countries with Large Energy Access Gaps.’ This publictaion summarizes the series’ overarching conclusions and provides policy recommendations.
• ‘Missing the Mark: Gaps and Lags in Disbursement of Development Finance for Energy Access.’ This study assesses the gaps and lags in disbursement of energy finance in high impact countries in Sub-Saharan Africa and Asia.
• ‘Understanding the Landscape: Tracking Finance for Electricity and Clean Cooking Access in High-Impact Countries.’ This report tracks and analyzes finance flows towards electricity access and clean cooking in countries with significant energy access gaps.
• ‘Taking the Pulse: Understanding Energy Access Market Needs in Five High-Impact Countries.’ This publictaion provides insights from in-depth studies of finance flows in Bangladesh, Myanmar, Kenya, Ethiopia, and Nigeria, including actions needed to scale up decentralized renewable electricity and clean cooking solutions.

Produced in partnership with the World Bank, the African Development Bank (AFDB), Climate Policy Initiative, E3 Analytics and Practical Action Consulting, the report series was release at a special event held 18 September 2017 on the fringes of the 72th Session of the UN General Assembly in New York City, New York. [SEforAll Press Release][AFDB Press Release][Report Series Home Page][Energizing Finance: Scaling and Refining Finance in Countries with Large Energy Access Gap][Missing the Mark: Gaps and Lags in Disbursement of Development Finance for Energy Access][Understanding the Landscape: Tracking Finance for Electricity and Clean Cooking Access in High-Impact Countries][Taking the Pulse: Understanding Energy Access Market Needs in Five High-Impact Countries]