The world must move faster to reach its 2030 green energy targets.
That’s according to a new report from the World Bank which tracks the progress of its ‘Sustainable Energy for All’ (SE4All) scheme.
It looked at three goals: providing universal energy access, doubling the global rate of improvement in energy efficiency and doubling the share of renewable energy in the global energy mix.
The World Bank stated: “Renewable energy generation and energy efficiency improvements will need to accelerate dramatically.”
However it also revealed progress has been made as the share of modern renewable energy grew at 4% a year between 2010 and 2012.
Renewable sources, including solar, wind and hydro, made up 8.8% of the total global energy consumption in 2012.
“Still, to meet the 2030 SE4All objective, the annual growth rate for renewable energy needs to be closer to 7.5%”, it said
The paper found 1.1 billion people in the world still live without electricity and almost three billion cook using polluting fuels like kerosene, wood, charcoal and dung.