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Although Africa accounts for one-fifth of the global population, the region currently attracts only 3% of global energy investment. By 2030, energy investment needs to double to over USD 200 billion per year, in order for African countries to achieve all their energy-related development goals, including universal access to modern energy, while meeting in time and in full their nationally determined contributions.
Financing Clean Energy in Africa, a World Energy Outlook Special Report, builds on the key findings from the Africa Energy Outlook 2022, which introduced the Sustainable Africa Scenario (SAS), and charts innovative investment solutions across the continent that are critical to scale up energy investment. It develops a theory of change based on the positive spillover effects of increasing the availability of affordable capital for clean energy projects. Currently, the cost of capital for energy projects in African countries is at least 2-3x higher than in advanced economies and China, which hinders investment by raising project costs.
The International Energy Agency (IEA) and the African Development Bank Group have joined forces to produce this new analysis, which benefitted from the review of over 85 case studies and over 40 stakeholder interviews. The report focuses on a range of topics, spanning technologies and financing providers, including local institutions, and looks at what types of capital are most suited for the specificities of each sector or technology. The analysis pays close attention to how to scale up private investment, including the role of de-risking support from development finance institutions (DFIs) and donors: by 2030, USD 28 billion of concessional capital will be necessary to mobilise the required USD 90 billion in private investment in clean energy. Increasing the role of the private sector allows DFIs and donors to also scale up support to non-commercial areas, such as enabling environments, unproven technologies and fragile and conflict-afflicted states, unproven technologies.
This report aims to shed light on how EECCA countries and development co-operation partners are working together to finance climate actions, using the OECD DAC database to examine finance flows by provider, sector, financial instrument, channel, etc. A significant amount was committed by international public sources to the 11 countries comprising the EECCA in 2013 and 2014 (i.e. USD 3.3 billion per year), but the scale of such finance varies considerably from country to country and is insufficient to achieve and strengthen their climate targets communicated through the Intended Nationally Determined Contributions COP21.
In addition, while a range of climate-related policies have already been developed by the EECCA countries, the extent to which such policies are being effectively implemented and conducive to attracting climate finance is still unclear. In this respect, this report proposes a set of questions for the EECCA countries to self-assess their readiness to seize opportunities to access scaled-up climate finance from various sources: public, private, international and domestic.
Infrastructure worldwide has suffered from chronic under-investment for decades and currently makes up more than 60% of greenhouse gas emissions. A deep transformation of existing infrastructure systems is needed for both climate and development, one that includes systemic conceptual and behavioural changes in the ways in which we manage and govern our societies and economies. This report is a joint effort by the OECD, UN Environment and the World Bank Group, supported by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety. It focuses on how governments can move beyond the current incremental approach to climate action and more effectively align financial flows with climate and development priorities. The report explores six key transformative areas that will be critical to align financial flows with low-emission and resilient societies (planning, innovation, public budgeting, financial systems, development finance, and cities) and looks at how rapid socio-economic and technological developments, such as digitalisation, can open new pathways to low-emission, resilient futures.
The oil and gas industry has some of the best and most cost-effective opportunities to reduce methane emissions. The potential to do so is clear. Some countries and companies have already demonstrated that achieving near-zero emissions from oil and gas operations is technically and economically possible. There are a growing number of initiatives, policies and regulations aiming to reduce emissions globally, and many reductions can be realised while saving money. However, overall progress has been much too slow, despite the record profits that the oil and gas industry saw in 2022. This report looks in detail at the investment requirements to deliver a sharp reduction in oil and gas methane emissions to 2030, and how these could be financed. The analysis is intended to inform discussions in the runup to COP28 and help prompt the necessary actions to accelerate the pace of change.
Finland has set one of the most ambitious climate targets in the world, a legal obligation to reach carbon neutrality by 2035. It has made notable progress towards this target, deploying the first new nuclear reactor in Europe in over 15 years and strongly expanding wind generation. Thanks to the progress Finland has made on its clean energy transition, the country has the second lowest share of fossil fuels in its energy supply among IEA members. It is also reducing its reliance on Russian energy imports and ensuring energy security by increasing imports from other countries, raising domestic renewable energy production and improving energy efficiency.
Despite these notable successes in clean energy and energy security, significant challenges remain. Imported fossil fuels still account for over a third of the energy supply while some areas of the Finnish economy, such as transport and key industrial activities, remain dependant on fossil fuels. Also, land use change and forestry in Finland, which have historically offset a significant amount of greenhouse gas emissions, became a net source of emissions for the first time in 2021.
In this report, the IEA provides a range of energy policy recommendations to help Finland smoothly manage the transition to a secure, efficient and flexible carbon neutral energy system.
Countries around the world continue to implement safety improvements and corrective actions based on lessons learnt from the 11 March 2011 accident at the Fukushima Daiichi nuclear power plant. This report provides a high-level summary and update on these activities, and outlines further lessons learnt and challenges identified for future consideration. It focuses on actions taken by NEA committees and NEA member countries, and as such is complementary to reports produced by other international organisations.
In most IEA Member countries, natural gas demand varies strongly during the year, according to temperature. Flexibility is needed to cover seasonal swings and variations in gas demand, especially for household customers. This book analyses how new flexibility tools and mechanisms are developing with market liberalisation and with the evolution of supply and demand trends. It highlights differences in flexibility requirements and provisions among IEA Member countries.
To meet future energy demand growth and replace older or inefficient units, a large number of fossil fuel-fired plants will need to bebuilt worldwide in the next decade. Yet CO2 emissions from fossil-fired power generation are a major contributor to climate change. As a result, new plants must be designed and operated at highest efficiency. The case studies in this report respond to a request to the IEA from the G8 Summit in July 2005 to illustrate the degree of efficiency now achieved in modern plants in different parts of the world using various grades of fossil fuels. The plants were selected from different geographical areas, because local factors influence attainable efficiency. The results of these analyses show that the technologies for high efficiency (low CO2 emissions) and very low conventional pollutant emissions (particulates, SO2, NOx) from fossil fuel-fired power generation are available now through PCC, IGCC or NGCC at a commercially acceptable cost.
The International Energy Agency (IEA) regularly conducts in-depth peer reviews of the energy policies of its member countries. This process supports energy policy development and encourages the exchange of international best practices and experiences.
In 2019, France put its target to reach net zero emissions by 2050 into law and updated its energy transition framework the following year with a new National Low-Carbon Strategy and 10-year energy plan. However, France’s energy transition has experienced significant delays, and implementation remains challenging despite the many reforms underway. Moreover, new European Union climate goals will compel the French government to upgrade its 2030 targets and track progress more stringently.
For decades, French power generation has produced a relatively low level of carbon dioxide emissions compared with similar economies, owing to the significant share of nuclear energy. However, the country’s nuclear fleet is ageing, and overall emissions are rising because energy consumption across the economy as a whole remains dominated by fossil fuels, notably in transport. Maintaining low-carbon power generation as a base for further decarbonisation and electrification requires timely decisions on the future electricity mix and accelerated investments.
France’s economic recovery plan from the Covid-19 crisis and its 2030 investment plan will help accelerate its energy transition by driving progress in sustainable mobility, building retrofits and hydrogen.
This report includes a series of recommendations to support France’s efforts to tackle these challenges and to meet its energy and climate goals.
This roadmap explores the potential improvement of existing technologies to enhance the average fuel economy of motorised vehicles; the roadmap’s vision is to achieve a 30% to 50% reduction in fuel use per kilometre from new road vehicles including 2-wheelers, LDV s and HDV s) around the world in 2030, and from the stock of all vehicles on the road by 2050. This achievement would contribute to significant reductions in GHG emissions and oil use, compared to a baseline projection. Different motorised modes are treated separately, with a focus on LDV s, HDV s and powered two-wheelers. A section on in-use fuel economy also addresses technical and nontechnical parameters that could allow fuel economy to drastically improve over the next decades. Technology cost analysis and payback time show that significant progress can be made with low or negative cost for fuel-efficient vehicles over their lifetime use. Even though the latest data analysed by the IEA for fuel economy between 2005 and 2008 showed that a gap exists in achieving the roadmap’s vision, cutting the average fuel economy of road motorised vehicles by 30% to 50% by 2030 is achievable, and the policies and technologies that could help meet this challenge are already deployed in many places around the world.
Цель настоящего доклада заключается в освещении того, каким образом страны ВЕКЦА и их партнеры по сотрудничеству в целях развития ведут совместную работу по финансированию усилий, направленных на смягчение последствий изменения климата и адаптацию к изменению климата, с использованием базы данных Комитета ОЭСР по помощи в целях развития для анализа потоков климатического финансирования в разбивке по секторам, поставщикам финансирования, финансовым инструментам, каналам и т.д. В 2013 и 2014 годах одиннадцати странам ВЕКЦА был выделен значительный объем финансирования из международных институциональных источников (3,3 миллиарда долларов США в год), однако масштабы этого финансирования значительно варьируются от страны к стране и не являются достаточными для достижения или превышения плановых показателей в области климата, которые были заявлены ими в предполагаемых определяемых на национальном уровне вкладах (ПОНУВ), представленных к 21-й Конференции сторон РКИК ООН.
Хотя странами ВЕКЦА уже разработан целый ряд стратегий, связанных с климатом, вопрос о том, насколько эффективно осуществляются эти стратегии и в какой степени они способствуют дальнейшей мобилизации климатического финансирования, остается открытым. В связи с этим настоящий документ предлагает вопросы, отвечая на которые правительства стран ВЕКЦА смогут самостоятельно оценить свою готовность к использованию возможностей доступа к увеличивающимся объемам климатического финансирования из государственных, частных, международных и внутренних источников.