Frank Okon

Commitments made under the United Nations Energy Compacts have reached $1.6 trillion, with $284 billion already mobilized, as governments and the private sector step up efforts to expand renewable energy and improve access to electricity and clean cooking by 2030, according to a new UN report.

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The figures are contained in the fourth Energy Compacts Annual Progress Report, released ahead of the EnergyNow SDG7 Action Forum on the margins of the UN General Assembly. The report shows growing momentum behind voluntary Energy Compact commitments, but warns that investment still falls far short of what is needed to meet global energy and climate goals.

Most of the $284 billion mobilized since 2021 has come from private sector investment in renewable power generation. However, the report cites data from the 2025 Tracking SDG7 Report, which estimates that more than $4 trillion in annual investment is required to achieve universal energy access, provide clean cooking solutions, and put the world on a path to net-zero emissions by 2050.

Currently, around 660 million people still lack access to electricity, while more than 2 billion continue to rely on polluting fuels for cooking.

“The world is entering a decisive moment for energy,” said the leadership of UN-Energy, including Haoliang Xu, Acting Administrator of UNDP; Damilola Ogunbiyi, the UN Secretary-General’s Special Representative for Sustainable Energy for All; and Li Junhua, Under-Secretary-General for Economic and Social Affairs.

“Choices made today will determine not only whether we achieve our climate and development goals, but also how future generations experience prosperity, equity and security,” they said, adding that Energy Compacts are demonstrating that scalable, investment-ready solutions already exist.

Launched in 2021 following the UN High-level Dialogue on Energy, the Energy Compacts framework has registered 209 voluntary commitments from governments, companies and institutions. These include planned domestic and international spending to expand energy access, improve efficiency and scale up renewables.

According to the report, Energy Compact proponents have helped deliver new or improved electricity access to 285 million people, an increase of 108 million over the past year. Progress on clean cooking remains slower, with 33 million people gaining access since 2021, up from 23 million last year.

Population growth in Sub-Saharan Africa continues to outpace clean cooking access gains, leaving an estimated 14 million additional people without clean cooking solutions each year.

Beyond SDG7, the report highlights broader development impacts, including improved electricity access at more than 10,400 health facilities, the deployment of 2.8 million electric vehicles, and the installation of over 336,000 charging stations.

The report encourages governments, cities, companies, financial institutions, UN agencies and civil society groups to submit new Energy Compact commitments through an online platform. It also notes that integrating energy targets into national climate plans through Energy Compacts can strengthen implementation of Paris Agreement commitments, citing Indonesia and Nepal as examples.

Prepared by UN-Energy and supported by data analysis from Sustainable Energy for All (SEforALL), the report underscores both the growing scale of global energy action and the urgency of closing the remaining investment gap.