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To become prosperous and globally competitive, emerging economies require reliable, affordable, and abundant energy for industry and households
Energy is essential for economic growth and the basis of modern lifestyles, yet more than a billion people worldwide live without access to electricity. For millions who may have some access, power is too unreliable or expensive to achieve real prosperity. Boosting generation and expanding access are top priorities for African governments and their partners, including through the US Power Africa Initiative and the Electrify Africa Act. CGD research seeks to redefine what the world means by “modern energy” and to suggest ways to provide energy at scale for development to flourish.
The paper proposes a new narrative on climate equity that emphasize basic energy needs and the equality of access to energy opportunities rather than emissions. It advocates abandoning the setting of emissions targets and instead developing a framework where all countries contribute to maximizing technology creation and diffusion.