Toward a Sustainable Energy Future for All: Directions for the World Bank Group’s Energy Sector
As global energy markets evolve rapidly, producing and maintaining a reliable power supply for many countries in the developing world remains a significant issue. The World Bank Group will approach this energy crisis in partnership with the United Nations Sustainable Energy for All initiative. Client countries focus on universal access, accelerating improvements in energy efficiency, and doubling the global share of renewable energy by 2030. Achieving these goals will help to end extreme poverty, because economic growth and shared prosperity is not possible without access to energy. Even with the proper infrastructure for energy production, prices often remain higher than the global average, resulting in households using self-supplied alternatives such as unclean, diesel generators. To remedy this situation, energy must be distributed and consumed efficiently through programs supported by a sound pricing and tariff policy, by subsidies targeting the poor, and by mechanisms for carbon pricing. The World Bank Group is committed to providing long-term solutions tailored to specific circumstances of each client country in the areas of renewable energy, natural gas, transmission and distribution, regional trade and market integration, financial performance, sector planning, access, and post-conflict reconstruction.