DEVELOPMENT 77
SDGs. Rapid economic growth, expanding populations and increasing prosperity are driving up demand for energy, water and food, especially in developing countries. By 2050, the demand for energy will nearly double globally, with water and food demand estimated to increase by over 50 %. The ability of existing water, energy and food systems to meet this growing demand, meanwhile, is constrained given the competing needs for limited resources and the climate change impacts.
A framework to overcome these challenges must consider the ways that activities in different sectors interact, including their respective pressures on natural resources. A“ nexus” approach can help to formulate goals and targets that minimize trade-offs and maximize synergies between goals, making the SDGs more cost-effective and efficient, reducing the risk that progress towards one goal will undermine progress towards another, and ensuring sustainable resource use.
OFID: a Leader in Alleviating Energy Poverty As a development institution of almost 40-years’ standing, OFID is well aware that energy is part of a bigger picture in terms of achieving sustainable development. In fact, it was OFID that first labelled access to energy services as the“ ninth” MDG.
OFID intensified its fight against energy poverty following the call by its Member Countries in the Declaration of the Third OPEC Summit held in Riyadh, Saudi Arabia, in November 2007. OFID responded to this mandate promptly and launched its Energy for the Poor Initiative( EPI) in 2008. Since then, energy poverty alleviation has been OFID’ s primary strategic focus, with activities carried out at both an advocacy level and an operational level. enhanced OFID’ s role in the international framework, adding to its existing partnerships with organizations such as the World Bank, the Asian Development Bank, CAF, and IFAD.
In June 2012, OFID’ s Ministerial Council issued a declaration that was announced by OFID Management at the Rio + 20 Summit, committing a minimum US $ 1bn to the EPI. These resources have helped to boost OFID’ s energy access portfolio, which extends to over 80 countries and draws on all financing windows.
Since 2008, OFID has channeled more than US $ 2.1bn to a diverse range of energy access activities, including 65 projects with a combined cost over US $ 20bn which provided power exceeding 14,000MW and extending electricity grids by 32,000km.
Within the context of the SDGs, interventions related to the energy-waterfood nexus will move higher up the agenda of governments, development finance institutions and project sponsors. It is for this very reason that OFID adopted the energy-water-food nexus as the theme of its Corporate Plan 2016-2025. By aligning its strategic plan with the nexus, OFID has also aligned itself with the new development agenda and global aspirations for the next 15 years. �
In fighting energy poverty, OFID considers both traditional and renewable energy sources to be viable and pursues both in the quest for solutions. From OFID’ s experience, there is no one-size-fits-all. Energy mix solutions need to satisfy the basic energy needs of the poor.
In 2011, OFID’ s pioneering efforts as the champion of energy poverty alleviation led to it becoming a member of the United Nations Sustainable Energy for All( SE4ALL) initiative and its advisory board. This has
Envirofit