New Report Identifies Green-Energy Gap Standing in Way of Climate Goals

A new Rockefeller Foundation report has revealed that the world is facing a major green-energy gap that could potentially prevent it from achieving established renewable-energy goals. The findings point to a massive green power gap that’s nearly two times larger than America’s annual renewables capacity and underscored the pressing need for green energy in 72 nations.

According to the Rockefeller Foundation’s report, 72 countries in Asia, Africa, the Middle East, Latin America and the Middle East face an 8,700 terawatt-hour (TWh) renewable energy gap. The report states that this significant energy gap currently affects a whopping 3.8 billion people worldwide, making it a major barrier to the goal of achieving global carbon neutrality and eliminating greenhouse gas emissions.

As a result, the report noted, significant investments will be required to help these regions transition from their inefficient energy systems to renewables by mid-century. Even though they typically receive the least amount of green-energy investment compared to more developed nations, the report discussed different ways of dealing with this challenge. Dr. Rajiv J. Shah, Rockefeller Foundation president, noted that closing the green-energy gap was urgent as the fate of nearly four billion people and the Earth itself could depend on the outcome.

If we wish to achieve global green-energy goals and arrest global warming, Shah said, we will have to scale up renewable-energy solutions and mobilize the billions of dollars the aforementioned regions will need to provide 3.8 billion residents with access to affordable clean energy. The report’s findings note that a majority, 68 out of the 72 nations, currently register below the Modern Energy Minimum (MEM), while 4 nations exceeded the threshold, but large sections of their populations lived under the threshold.

Reaching and ultimately passing this threshold will be essential to encouraging economic development and lowering poverty rates. Forty-four of the countries found to have the lowest clean-energy access were in Africa, with around 90% of the continent’s energy coming from fossil fuels. Additionally, 20 of the countries involved in the analysis were Asian while 8 countries were from Latin America and the Caribbean.

Deepali Khanna, Rockefeller Foundation vice president and head of the Asia Regional Office, notes that achieving a future of abundant clean energy won’t be possible with a “one-size-fits-all” solution. Asia has a lot of potential because it has plenty of green-energy resources and already existing energy system assets. For instance, Khanna explained, Indonesia and India have already taken significant steps to increase their capacity for renewables and are now deploying green-energy technologies at an unprecedented scale and rate.

What is reassuring is that the issue of climate change is being tackled using different approaches, such as phasing out vehicles powered by fossil fuels in favor of electric vehicles from thousands of global manufacturers, such as Mullen Automotive Inc. (NASDAQ: MULN), that are selling EVs with zero emissions at the tailpipe.

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