The Covid-19 pandemic had been a key factor in slowing progress towards universal energy access and at present nearly 733 million people have no access to electricity, the World Bank said in a statement.
In addition the Russian invasion of Ukraine has led to uncertainty in global oil and gas markets and has sent energy prices soaring.
The 2022 edition of the energy progress report ‘Tracking SDG 7’ shows that the impacts of the pandemic, including lock-downs, disruptions to global supply chains, and diversion of fiscal resources to keep food and fuel prices affordable, have affected the pace of progress toward the Sustainable Development Goal (SDG 7) of ensuring access to affordable, reliable, sustainable and modern energy by 2030.
Progress has been impeded particularly in the most vulnerable countries and those already lagging in energy access. Africa remains the least electrified continent in the world with 568 million people without electricity access.
Nearly 90 million people in Asia and Africa who had previously gained access to electricity, can no longer afford to pay for their basic energy needs.
The report also said that despite continued disruptions in economic activity and supply chains, renewable energy was the only energy source to grow through the pandemic.