Energy is fundamental to economic growth and environmental sustainability. Access to affordable, reliable and sustainable energy is vital to ending extreme poverty and promoting shared prosperity. Modern energy services can help improve the quality of life for millions around the world and underpin progress in all areas of development.
Around 1.1 billion people worldwide still live without access to electricity – most of them in Africa and Asia -- which has an impact on children’s education, public safety, services, and job creation. Another 2.8 billion rely on wood or other biomass for cooking and heating, resulting in indoor and outdoor air pollution that causes about 4.3 million deaths each year.
The World Bank’s engagement in the energy sector is aimed at supporting developing countries to secure the affordable, reliable and sustainable energy supply needed to end poverty and promote shared prosperity. We assist countries to pursue environmentally, financially, fiscally and socially sustainable energy sector development.
The Sustainable Energy for All (SE4All) Initiative, co-led by the World Bank, aims to accomplish three goals by 2030: universal access to electricity and clean cooking fuels; doubling the share of renewable energy in the global energy mix, and doubling the improvement rate of energy efficiency.
These goals form the basis of the Sustainable Development Goal (SDG) on energy, or SDG7. Energy is interconnected with all of the other SDGs, and recognizing these linkages is pivotal to implementing them. With the historic Paris agreement to tackle climate change in place, it is now time to act. And delivering on SDG7 is a cornerstone of that objective.
The World Bank is working with several countries to help achieve this. In doing so, we aim to take a long-term holistic approach, emphasizing the need to build strong financial, operational, and institutional frameworks for sustainable energy systems. We also seek to foster private sector participation and investment; embrace a multi-stakeholder, inclusive approach to the development of energy projects and to acknowledge and reflect individual country circumstances.
Last Updated: Sep 22, 2016