Insights
Dependence on fossil fuels for electricity generation is adversely affecting the SDGs. A global shift towards renewable energy is being witnessed as a sustainable model for electricity generation
Market Update: Renewable Energy Sector in APAC
THE SUSTAINABLE DEVELOPMENT GOALS (SDGs) AND ELECTRICITY GENERATION
Dependence on fossil fuels for electricity generation is adversely affecting the SDGs. A global shift towards renewable energy is being witnessed as a sustainable model for electricity generation
- The Sustainable Development Goals (SDGs) adopted by the United Nations has led to articulation of clear actions for a sustainable world underpinned by responsible consumption and production
- Governments are required to meet targets assigned by the United Nations and to frame adequate regulations and policies to drive behavior at a corporate and societal level
- Current dependence on fossil fuels for electricity generation is adversely affecting the realization of at least six SDGs
- International organizations and local governments around the world have shifted their focus to decarbonization of the grid and promotion of electricity generation from renewable energy sources
- The Asia-Pacific region, home to some of the fastest growing and most populous countries globally, has seen the highest growth in electricity generation, with coal being the predominant source
- The region is the largest contributor to global carbon dioxide emissions and has witnessed significant activity to promote renewable energy