Boosting SDG 7: Committed to the generationrenewable energy
Energy consumption remains the main cause of climate change, as it accounts for around 60% of global greenhouse gas emissions. Sustainable Development Goal or SDG 7 on affordable and clean energy aims to guarantee universal access to affordable, reliable, sustainable and modern energy, as outlined in the Global Compact and the Agenda 2030.
The global rate of access to electricity has increased by 41% from 2015 to 2021, which represents progress in the system, but the reality is that around 733 million people still lack access to electricity; that's one in ten people worldwide, according to IRENA's 2020 report..
SDG 7 is directly related to SDG 13, whose main goal is the adoption of urgent measures to combat climate change and its effects. While renewable energy accounts for almost 30.1% of energy consumption in the electricity sector, challenges remain in the heating and transport sectors. Although access to electricity has accelerated in the poorest countries, energy efficiency continues to improve, and renewable energy is growing, access to cleaner and safer fuels and technologies for essential tasks like cooking must be improved for 2.3 billion people.
Global progress and the challenge of SDG 7 targets
SDG 7 defines some specific goals (7.1, 7.2, 7.3) that aim to guarantee universal access to affordable, reliable and modern energy services, and to increase the proportion of renewable energy in the mix energy and double the global rate of energy efficiency improvement. To achieve these goals, we must accelerate electrification, increase investment in renewable energy, develop energy efficiency solutions, and establish policies and regulatory frameworks that promote and incentivize electrification. It is estimated that between $35 billion and $40 billion annually are needed to achieve universal access to electricity between 2021 and 2030. Businesses play a critical role by driving the use of clean energy, investing in technologies that optimize electricity consumption in facilities and production processes, and developing initiatives that improve energy access in underserved local communities.
Goal 7.1: Universal Access, Reliability and Affordability
The Goal 7.1 aims to ensure access to affordable, reliable and modern energy services. While the percentage of access to electricity was 911% in 2022, progress has slowed, and it is projected that 660 million people will still lack access in 2030.
Audax, as an energy supplier, offers consumers the opportunity to choose renewable energy, which contributes directly to reducing emissions and indirectly to the reliability of the system, since electricity generated from renewable sources offers a stable and clean supply, less subject to the volatility of fossil fuel prices.
Target 7.2: Increase the share of renewable energy
The Target 7.2 aims to significantly increase the share of renewable energy in the overall energy mix.. The share of renewable energy in total energy consumption increased modestly from 16.71% in 2015 to 18.71% in 2021. In 2022, the share of renewables in EU energy consumption reached 231%, representing a 6 percentage point increase since 2013. The transition to a decarbonized economy, driven by European targets for renewable energy and efficiency, is crucial for reducing CO2 emissions and combating climate change globally.
Audax contributes directly to this global goal through its electricity generation activity from renewable sources, specifically through solar photovoltaic and wind power. The Group currently manages a total portfolio of 1,037 MW in wind and solar projects at various stages of operation and development. In 2024, Audax generated 305 MWh of renewable electricity at its solar plants and wind farms to supply its customers.
Goal 7.3: Double energy efficiency
Target 7.3 aims to double the global rate of improvement in energy efficiency. The private sector's contribution focuses on implementing energy management systems and investing in efficiency throughout the supply chain..
Audax contributes to energy efficiency by advising its clients on how to reduce their consumption, their carbon footprint, and optimize their costs. This includes solutions such as self-consumption or the installation of photovoltaic panels, storage batteries, aerothermal energy, virtual batteries, and electric vehicle chargers. Furthermore, the company establishes energy efficiency and renewable energy use criteria in its own facilities.
Goals 7.ay and 7.b: International cooperation, infrastructure and technological development
SDG 7 also focuses on collaboration and investment in clean technology, elements where corporate leadership plays a crucial role. Goals 7.ay and 7.b aim to increase international cooperation and expand modern and sustainable energy infrastructure in developing countries.
Audax demonstrates this commitment through its geographic expansion in clean energy generation, facilitating investment in infrastructure. The company operates wind farms in Europe (France, Poland) and in the Americas, with 66 MW of operational wind farms in Panama, directly supporting its goal of bringing modern infrastructure to developing countries.
Technology is vital for developing modern, safe, and reliable energy solutions, enabling the management of intermittency and ensuring a continuous supply. Audax intends to continue innovating and advancing technologically to offer better energy services, support its customers' energy transition, and further expand its portfolio of generation projects by implementing the most efficient technologies.
Audax's commitment to a 100% renewable future
The company is committed to renewable energy as an alternative to combat climate change and ensure universal access to it. The company promotes and encourages the consumption of renewable energy over traditional fossil fuels among its customers and stakeholders to contribute to and achieve the goals of SDG 7. Furthermore, Audax continues working to to increase its own portfolio of renewable electricity generation projects, as well as in the development of energy efficiency solutions and services for its clients that help them save on consumption and reduce their emissions.
Author: Ainhoa Burgos. Director of Sustainability. Audax Renovables.
Sources:
https://www.pactomundial.org/ods/7-energia-asequible-y-no-contaminante/
https://www.un.org/sustainabledevelopment/es/energy/
https://www.audaxrenovables.com/sostenibilidad/estrategia-de-sostenibilidad/
