How to provide energy for everybody

Such a situation is unacceptable. Access to energy underpins all aspects of modern life; it keeps hospitals running, lights up schools, powers industries and drives prosperity. Energy is as critical to economic growth as it is to social development.

The UN secretary-general's Sustainable Energy for All (SE4ALL) initiative has for the first time placed energy at the heart of the development agenda, with energy at last set to take its rightful place in the post-2015 Millennium Development Goals. The SE4ALL initiative sets out to double the installed renewable energy capacity and the rate of growth in energy efficiency, and provide universal energy access by 2030. It envisions a world where everyone will have access to clean, affordable energy.

In the two years since the launch of SE4ALL, many commitments have been made across the board, from governments and international organizations to businesses, industries and utilities. But SE4ALL recognizes that global commitments are not enough - there must also be local implementation through collaboration between the institutions and experts on the ground.

Meeting Asia's burgeoning energy demand is a huge challenge, but it also presents a significant investment opportunity in a wide range of energy resources, from traditional fossil fuels to new, alternative renewable energy.

Cumulative investment in electricity generation alone could be $10-13 trillion in Asia between 2010 and 2050, according to the WEC's World Energy Scenarios. Because of it's rapid growth potential, Asia requires the highest investment in energy infrastructure; during the same period, for example, Europe would require only $3 trillion and North America, $4 trillion. But more needs to be done to unlock the huge energy investment potential in Asia. Every single country needs to attract and mobilize huge amounts of capital, which is extremely sensitive to political and regulatory risks in the sector.

So what is the answer for Asian economies looking to address what we at the WEC call the "energy trilemma", or the triple challenge of energy security, environmental sustainability and energy equity?