SDG7
Ensure access to affordable, reliable, sustainable and modern energy for all.
SDG7 is a United Nations Sustainable Development Goal which aims to ensure access to affordable, reliable, sustainable, and modern energy for all by 2030. Sourceful's mission to create a decentralized and sustainable energy grid is directly aligned with this goal, and the platform has the potential to make a significant impact in achieving SDG7.
By enabling individuals and communities to generate and consume green energy, Sourceful is helping to promote a more sustainable energy system that is accessible and affordable for all. The platform's use of blockchain technology and distributed energy resources can help to create a more reliable and efficient energy grid, reducing the need for centralized power plants and promoting the integration of renewable energies.
In addition, the Sourceful platform can also help to reduce energy poverty and improve energy access in developing countries by enabling individuals and communities to generate their own energy and connect to a decentralized energy grid. This can help to reduce reliance on fossil fuels and traditional energy sources, which can be expensive and often inaccessible to those in remote or underserved areas.
Overall, Sourceful's focus on creating a sustainable and decentralized energy grid is an important step towards achieving SDG7 and promoting a more sustainable and equitable future for all.
Where we stand
SDG7 is aimed at ensuring access to affordable, reliable, sustainable, and modern energy for all. Despite progress, there are still over 700 million people globally living in the dark and 2.4 billion cooking with harmful and polluting fuels [un.org]. The use of renewable energy and energy efficiency has improved, but progress is not fast enough to achieve the goal. At Sourceful, we understand the urgent need to address the energy challenges facing our world, and we believe that decentralization and the power of blockchain technology can help us achieve the SDG7.
Target 7.1
Target 7.1 aims to ensure universal access to affordable, reliable, and modern energy services by 2030. Despite progress, there are still over 700 million people globally living in the dark and 2.4 billion cooking with harmful and polluting fuels [un.org]. To achieve this target, significant efforts are needed, especially in low-income, fragile, and conflict-affected countries.
At Sourceful, we are committed to contributing to SDG7 Target 7.1 by providing a decentralized energy system that empowers individuals and communities to take control of their energy resources. Our innovative use of blockchain technology and the Sourceful Energy Gateway enables individuals to measure and validate the energy generated by distributed energy resources (DERs) and earn SRC tokens for their contributions to the decentralized energy grid. By creating incentives for individuals to invest in renewable energy sources, we hope to promote the growth of a more sustainable energy system and contribute to achieving universal access to affordable, reliable, and modern energy services.
We believe that access to energy is a fundamental human right and that everyone should have the opportunity to participate in the global energy transition. By creating a platform that is accessible and easy to use, we hope to empower individuals and communities around the world to contribute to the transition towards a more sustainable future. At Sourceful, we are committed to doing our part to achieve SDG7 Target 7.1 and make affordable, reliable, and modern energy services available to all.
Target 7.2
Target 7.2 aims to increase the share of renewable energy in the global energy mix. As of 2019, the share of renewable energy sources in total final energy consumption was only around 16%, which is slightly higher than the figure for 2015 [ourworldindata.org]. This indicates that progress towards Target 7.2 has been slow, and urgent action is needed to accelerate the transition to renewable energy sources.
At Sourceful, we are committed to contributing to Target 7.2 by creating a decentralized energy system that empowers individuals and communities to take control of their energy resources and contribute to a cleaner, greener future. By using the Sourceful Energy Gateway to measure and validate the energy generated by distributed energy resources (DERs), individuals can earn SRC tokens for their contributions to the decentralized energy grid. These tokens can then be used to participate in the energy marketplace or exchanged for other cryptocurrencies or fiat currency on various cryptocurrency exchanges.
Additionally, the Proof-of-Control feature of the Sourceful platform provides an additional incentive for individuals to invest in renewable energy sources. By clustering DERs and selling the power generated on the flexibility grid service markets, individuals can earn rewards for their green energy contributions while helping to create a more efficient and reliable energy grid. Through these efforts, we hope to help increase the share of renewable energy in the global energy mix and contribute to the achievement of Target 7.2.
Target 7.3
Target 7.3 aims to double the global rate of improvement in energy efficiency by 2030. According to the latest available data, the global energy intensity improved by 1.6% per year on average since 2015, which is below the required annual improvement rate of 3.2% to achieve this target [iea.org].
At Sourceful, we recognize the importance of increasing energy efficiency to achieve a sustainable future. Our platform is designed to promote the use of renewable energy and to optimize the use of energy resources through the decentralized energy grid. By using our Energy Gateway to measure and validate the energy generated by distributed energy resources (DERs), individuals and communities can optimize their energy consumption and reduce waste.
Additionally, our Proof-of-Control feature encourages the clustering of DERs and selling of the power generated on the flexibility grid service markets. This helps to ensure that energy is used efficiently and that the grid operates in the most optimal way possible.
By promoting the use of renewable energy and optimizing energy consumption, we are committed to contributing to the goal of doubling the global rate of improvement in energy efficiency.
Target 7a
Target 7.a of SDG7 aims to promote investment in energy infrastructure and clean energy technology. According to the latest report, international financial flows to developing countries in support of clean and renewable energy reached $10.9 billion in 2019, representing a contraction even before the onset of the COVID-19 pandemic [iea.org].
At Sourceful, we are committed to promoting investment in renewable energy infrastructure and clean energy technology through our platform. By creating a decentralized energy system that incentivizes the use of renewable energy sources, we hope to encourage investment in these technologies and promote the growth of a more sustainable energy system. Our Energy Gateway, which validates the energy generated by distributed energy resources (DERs) and rewards individuals with SRC tokens, is one example of how we are working towards this target. Additionally, our Proof-of-Control feature provides an incentive for individuals to invest in renewable energy sources by clustering DERs and selling the power generated on flexibility grid service markets.
Through our efforts to create a more sustainable and equitable energy system, we hope to contribute to achieving Target 7.a and promote investment in renewable energy infrastructure and clean energy technology.
Target 7b
SDG7 Target 7.b aims to promote investments in energy infrastructure and clean energy technology, particularly in developing countries. As of 2021, progress towards this target has been slow, with international financial flows to support clean and renewable energy in developing countries decreasing.
At Sourceful, we recognize the critical importance of prioritizing the needs of developing countries in achieving SDG7. This is a key reason why we are using a crypto asset, which has the potential to facilitate more efficient and transparent financial transactions across borders. By leveraging blockchain technology, we can create a more equitable and accessible energy system that benefits individuals and communities in developing countries.
Furthermore, we are committed to investing in energy infrastructure and clean energy technology in developing countries. Through our platform, we aim to empower individuals and communities to take control of their energy resources and contribute to a cleaner, greener future. By working together with governments, organizations, and communities, we believe we can create a more sustainable and equitable world for all.