Despite much progress in meeting the ambitious goal of attaining universal access to sustainable and modern energy, nearly 800 million people still lack access to electricity. Even more lack access to clean cooking fuels. This has serious health, gender, economic, and climate consequences — and those are especially evident during this pandemic when access to basic health and safety protocols, medical services and clean water is hampered in many parts of the world.
In this edition of Columbia Energy Exchange, host Jason Bordoff is joined by one of the world’s leaders responsible for addressing this crisis, Damilola Ogunbiyi. She is CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy.
Special Representative Ogunbiyi previously served as the first female Managing Director of the Nigerian Rural Electrification Agency. In a prior role, Damilola worked in the Federal Government of Nigeria’s Office of the Vice President as Senior Special Assistant to the President on Power and Head of the Advisory Power Team. Damilola was also the first female to be appointed as General Manager of the Lagos State Electricity Board. She first entered public service as the Senior Special Assistant to the Lagos State Governor on Public-Private Partnerships, and prior to her appointment, she was a consultant for the United Kingdom Department for International Development on public-private partnerships.
It has now been just over a year since the US signed into law the Inflation Reduction Act and already, it has been followed by more than US $110 billion in clean energy investments.
Rising debt levels and the ravages wrought by climate change present acute threats to achieving sustainable development goals in emerging market and developing economies.
As the world races to transition to cleaner energy sources, there exists a substantial gap between the financing required for this transition and the actual investments being made.