ENHANCING AMBITION THROUGH LINKING CARBON MARKETS AND CLIMATE FINANCE

Africa faces an urgent challenge: 571 million people currently lack energy access on the continent. Projections by the International Energy Agency (IEA)
estimate that approximately the same number of people will remain without access in 2030 and on current trends it may take until 2080 to achieve universal access to electricity. While the number of people with access to electricity has increased steadily in the past years, this trend is overshadowed by a rapidly growing population with improving living standards. Part of this rapidly increasing energy demand is being met by expanding renewables, whose deployment costs have been falling substantially over the last decade. However, millions of Africans cope with remaining significant electricity access deficits by remaining underserved or relying on backup diesel generators, especially in rural areas that cannot be easily connected to the grid.

Authors: Stephan Hoch, Sherri Ombuya, Peris Waweru (PCG)
Sandra Greiner, Gema Andreo Victoria, Marco Della Maggiore (CF)
Robert Kelly (Development Contours)
Tim Cowman, Thomas Owino, Karin Sosis (Climate Impact Partners)
Alexandre Dunod, Harold Goret (AERA Group)