There is a simple equation that predicts whether we will fail in our fight against climate change. The math is straightforward: Global energy demand is outpacing the growth of supply of clean energy capacities. The difference is being made up by burning coal, oil, and other non-renewable sources. Without significant investments over the next decade in renewable energy, many countries, especially those in the Global South will continue to rely on traditional forms of energy to drive their economies and ensure the security of supply.
In 2022, the Global South, which represents 85% of the global population, received only 20% of the world’s clean energy investments, despite many of these countries having abundant wind and solar resources. Sub-Saharan Africa, where 600 million people live without access to electricity, has more than 1,000 times as much renewable potential as energy demand.
