New multi-billion-dollar commitments to increase renewables and access to electricity and clean cooking technologies were announced at a critical UN energy summit aimed at boosting efforts to reduce the ranks of nearly 800 million people living in energy poverty without electricity access while setting the world on a trajectory towards net-zero-emissions by 2050.
More than $400 billion in new finance and investment was committed by governments and the private sector during the UN High-level Dialogue on Energy, the first leader-level meeting on energy under the auspices of the UN General Assembly in 40 years.
Over 35 countries, ranging from Small Island Developing States to major emerging and industrialized economies, made significant new energy commitments in the form of Energy Compacts. Additionally, several new partnership initiatives were announced, aiming to provide and improve access to reliable electricity to over a billion people.
The High-level Dialogue on Energy presented a historic opportunity to put the production and use of energy on track to meet both the Sustainable Development Goals and Paris Agreement on climate change. Slowing global warming largely depends on reducing emissions from burning fossil fuels for energy. Also critical is ensuring that all people have access to electricity and clean energy. Heads of State and Government as well as leaders from businesses, foundations and other organizations attended the summit. Check here for more on the event. And pick up a few fast facts about energy and climate.
