OFID on Energy Poverty

 

 

 

 

 

 

 

 

 

 

 

 

Although the developed countries, i.e. members of the OECD, collectively account for less than one-fifth of the world’s population, they consume close to half of all global traded primary energy, such as crude oil, natural gas, coal, nuclear and hydro-electricity. Other large economies, i.e. Brazil, Russia, India and China (BRIC), consume one-quarter, leaving the remaining developing countries, which are home to two-fifths of the world’s population, with a share of around 30 percent in global traded primary energy. In the coming years, energy use is projected to continue increasing at a fast pace in regions like Asia Pacific (especially India and China) and in the Middle East too. Generally speaking, the developing countries need to devise ways and means of significantly boosting investment in, and use of, primary energy – in terms of cleaner fossil fuels, energy efficiency and renewables – in order to achieve meaningful economic growth and social development.