SDG-Climate Synergies and Multilateralism: Implications for Energy Futures

The global landscape is at a critical juncture, where achieving the Sustainable Development Goals (SDGs) and advancing climate action are essential to addressing interconnected challenges of sustainable development, energy access, and climate resilience. In particular, SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action) represent the world’s commitment to ensuring energy sustainability while combating climate change. Around 675 million people worldwide still lack access to electricity, with most of these in Sub-Saharan Africa and parts of South Asia, highlighting the need for investments in affordable and clean energy solutions (SDG 7) (IEA, 2023). In 2022, international public financial flows for clean energy in developing countries rose to USD 15.4 billion, a 25% increase from 2021.

However, these funds remain highly concentrated, with 80% directed to only 25 countries. However, realizing these goals requires a coordinated, collaborative approach that emphasizes policy coherence and the crucial role of multilateralism in fostering unified strategies for a sustainable energy future. Within the wider public finance ecosystem, multilateral development banks, governments, and other relevant actors should work together to shift the focus of energy transition projects from simple bankability toward impact at the program or portfolio levels (IRENA, 2024).

This session will emphasize the importance of such partnerships, not only in scaling up innovations and mobilizing financing but also in ensuring inclusive and equitable energy transitions that benefit diverse communities.