`Energy for all - Financing access for the poor`

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Source: GLOBE Foundation

The International Energy Agency (IEA) has launched a special early excerpt of the 2011 World Energy Outlook, entitled 'Energy for All: financing access for the poor'.

The report, which tackles the critical issue of financing the delivery of universal modern energy access, has been released to coincide with a high-level international conference on financing energy access hosted by the government of Norway and co-organised with the IEA.

The Conference was attended by IEA Executive Director Ms. Maria van der Hoeven and UN Secretary-General Mr. Ban Ki Moon, as well as several Heads of State and Ministers, and private sector and civil society organizations.

Notes the report it is an alarming fact that today in the 21st century billions of people lack access to the most basic energy services: 1.3 billion people are denied access to electricity around the world and 2.7 billion people rely on the traditional use of biomass for cooking.

'Tackling the issue of modern energy access is crucial if the global community wants to achieve its goals of eradicating poverty and accelerating social and economic development.' said IEA Chief Economist Dr. Fatih Birol.

'Lack of access to modern energy services is a serious hindrance to economic and social development and must be overcome if the UN Millennium Development Goals (MDGs) are to be achieved,' she added.

The World Energy Outlook has devoted attention to the topic of energy and development for many years, developing databases and analyses, including energy-poverty data, quantitative analysis and projections for energy use in developing countries.

The WEO evaluates energy poverty in the global energy context to inform OECD governments, industry, the private sector and financial institutions.

This special report will be included in the WEO-2011, which will provide updated projections of energy demand, production, trade and investment, fuel-by-fuel and region-by-region to 2035.

WEO-2011 also provides in-depth analysis of several topical issues, including: the outlook for Russia's energy market and what it means for the global energy system; climate change - with an assessment of what infrastructure 'lock-in' means for manoeuvrability to meet the 2 degrees Celsius goal; the role that coal will play in driving economic growth in an emissions-constrained world; and the implications of a possible delay in oil and gas sector investment in the Middle East and North Africa.

WEO-2011 will be released on 9 November 2011 in London. To find out where Dr. Fatih Birol, IEA Chief Economist, will be presenting the key findings, please click here.

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