Scaling up Energy Compacts: a high-impact initiative in support of the SDG summit 2023

Since its launch in 2021, the Energy Compacts community has reported significant progress against commitments made. However, closing the gap towards achieving SDG7 by 2030 requires much more – a dramatic scaling up of ambition, action, and finance in order to set us on a trajectory that aligns with our 2050 net-zero goals. More specifically, urgent action is needed to close energy access gaps, to phase out coal-fired power, and decarbonize our energy systems, while also growing the economy, creating good jobs, and ensuring sustainable development.

Energy Compacts represent the largest global multi-stakeholder platform for advancing action on SDG7, uniting a range of stakeholders for a common purpose. As a high-impact initiative, the Energy Compacts encompass the overarching priorities of the UN Secretary-General’s climate action strategy, including narrowing the global emissions gap to keep the 1.5 degree Celsius goal alive, and securing a quantum leap on climate justice that leaves no one behind. Access to clean, affordable energy is central to these efforts. In additional, the principles of credibility, transparency, and accountability ensures that governments and non-state actors are supported in demonstrating their raised ambition through the Energy Compact process.