Energy

Progress has been made on ensuring access to affordable, reliable and modern energy for all under Sustainable Development Goal 7, thanks to better electrification rates – particularly in the least developed countries – and improvements in industrial energy efficiency and gains made in renewable energy. However, the Sustainable Development Goals Report 2023 by the United Nations is clear that national priorities and policy ambitions still need to be strengthened to put the world on track to meet energy targets for 2030.

The OPEC Fund has long focused on supporting access to energy, worldwide. In 2022, the OPEC Fund committed more than US$40 million to the energy sector.

Commitments are operations and agreements that have been signed by the relevant parties.