New Report Reveals Finance to Close Global Energy Access Gaps Dramatically Off-track to Meet 2030 Targets

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Data shows finance for coal tripled in past year, but innovative off-grid solutions and finance models offer opportunities to meet Global Goals
"The bad news is that we are not yet seeing a strong enough project pipeline or sufficient levels of public investment that will crowd in private finance to seize this moment of falling prices for revolutionary technology. Even more worrying is that at the same time we're seeing incremental increase in funding for renewable energy, investments in coal increased. Coal is not an answer to energy poverty."
Dr. Barbara Buchner, Executive Director, Climate Policy Initiative, said: "Our numbers paint a stark picture. We are falling further and further behind goals for energy access investment. Regions with the highest needs, like Sub Saharan Africa, are getting the smallest share, while we're seeing big gaps for some of the technologies with the most promise, like off-grid renewable energy and clean cooking. This should be a wake-up call to policy makers and investors who are working to ensure universal and sustainable energy."

Other key findings from the Energizing Finance series include:
Given these stark findings, combined with the deeply concerning recent findings from IPCC's Special Report on 1.5 Degrees, Energizing Finance calls for a range of urgent actions, including the following specific recommendations:

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