The Road to the SDGs

PURPOSE X IsDB’s support for sustainable energy development in its MCs is based on the significant financing gap identified under the framework of the SDGs. IsDB’s Energy Sector Policy aligns future energy operations with the changing needs of MCs and the global priorities for energy set by the SDGs, IsDB’s 10YS and the reform agenda based on the P5P. X Operational actions and strategies in the sector are built on four main pillars (increase access to energy, scale up renewable energy, increase energy efficiency and improve knowledge services) and four key enablers (private sector development, innovative financing, building partnership and regional integration). The policy emphasises building partnerships and innovative financing mechanisms for scaling up the future financing for the sector. METHOD X Sustainable energy development of MCs requires sound economic, social and environmental policies, where rational use of energy and exploitation of indigenous renewable resources offer a large untapped potential across IsDB constituency to reduce the rising energy inequality. Energy Sector Policy has four main pillars: – Increase access to modern energy services — In line with UN efforts to provide universal and affordable access to sustainable modern energy services by 2030 (SDG 7), IsDB will look for ways to scale up its support to provide access to electricity – Scale up renewable energy — IsDB intends to play a catalytic role in promoting renewables, in particular solar and wind energy, as part of its goal of sustainable energy development and as an alternative to fossil fuels – Enhance energy efficiency — IsDB will assist all MCs in evaluating best practices in energy management and tailoring these practices to their unique characteristics. Through well-designed and targeted energy efficiency (EE) improvement projects, IsDB will assist all MCs in putting their energy sectors along a less energy intensive path – Improve knowledge services — IsDB will focus on carefully selected activities to establish itself as a recognised partner for providing/utilizing high- quality knowledge to MCs Energy Sector Policy T he Energy Sector Policy establishes the overall directions guiding IsDB’s future energy operations in MCs in line with IsDB vision and strategies and the SDGs, especially SDG 7 related to ensuring access to affordable, reliable, sustainable and modern energy for all IsDB will expand its support for private-sector energy projects and public-private partnerships, taking into account country circumstances and the need for prudent management of risks [ 38 ] SDGs