The United Nations has announced that finance commitments under its Energy Compacts have reached $1.6 trillion, with $284 billion already mobilized to accelerate renewable energy adoption and clean cooking technologies worldwide.
According to the Energy Compacts Annual Progress Report launched at the EnergyNow SDG7 Forum in New York, most of the $284 billion mobilized since 2021 came from private sector investment in renewable power generation. Despite progress, the UN warns that over $4 trillion annually is required to electrify 660 million people and provide clean cooking for 2 billion still relying on polluting fuels.
Energy Compact initiatives have already improved electricity access for 285 million people, equipped 10,400 health facilities, and supported deployment of 2.8 million electric vehicles. UN leaders stressed that choices made today will determine whether climate and development goals are met by 2030, positioning Energy Compacts as critical investment-ready solutions for a just energy transition.
