Publication - European Financial Flows on SDG7 to Africa: 2021 Report

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European Financial Flows on SDG7 to Africa: 2021 Report
David Slater, Jon Marks, Irina Gaubinger, Ajay Ubhi, Marc Howard
Published in
August 2021
This report investigates European and other financial flows to Africa in the years 2014-2019 that would contribute to meeting the globally agreed SDG7 goal to ensure “access to affordable, reliable, sustainable and modern energy for all”. It is based on analysis of the available data for African, European and wider global financial flows into sustainable energy. To meet SDG7 criteria much of that financing should be available on a transparent, concessional basis. The Sustainable Development Goals (SDGs) are comprised of 17 interlinked goals designed as a “blueprint to achieve a better and more sustainable future for all”, agreed at the United Nations General Assembly in 2015. The aim of Africa, Europe and the wider international community is to achieve the SDG objectives by 2030 – which would mean giving some 600 million Africans access to affordable and sustainable modern energy that doesn’t further stress environments that are badly affected by climate change. This is a longstanding aim of the Africa-EU Energy Partnership, whose work to develop targets and data since 2007 made a contribution to SDG7’s emergence. The purpose of this report is to assess the quantity and equitability of European contributions to SDG7. It has been commissioned by the AEEP Secretariat also to help guide the future focus of policy and funding flows. To achieve this, it triangulates multiple, credible sources – African governments, institutions and development banks; the development finance institutions of European Union (EU) Member States and other European and non-European states; EU financial institutions; multilateral development banks and international organisations including the Organisation for Economic Cooperation and Development (OECD), the International Energy Agency (IEA) and Sustainable Energy for All (SEforALL).