SEforALL expands partnership with Bloomberg Philanthropies to support a just and equitable energy transition in Asia and Africa over the next three years
New USD 9 million partnership will see closer collaboration between SEforALL, Bloomberg Philanthropies and ClimateWorks Foundation
At the United Nations Climate Action: Race to Zero and Resilience Forum, UN Special Envoy on Climate Ambition and Solutions Michael R. Bloomberg announced an expansion of Bloomberg Philanthropies’ efforts to accelerate the clean energy transition into another 15 developing countries where there is abundant potential for solar, wind and other renewable energy capacity and a growing demand for sustainable power production. This is building on the announcement made in May at the Sustainable Energy for All (SEforALL) Forum in Kigali committing USD 242 million of new funding to the energy sector to help accelerate the clean energy transition.
As part of these efforts, SEforALL is establishing a new and expanded partnership with Bloomberg Philanthropies to support a just and equitable energy transition in selected countries over the next three years. This USD 9 million partnership will see SEforALL, Bloomberg Philanthropies and ClimateWorks Foundation collaborating closely on three efforts:
- Accelerating action to phase out coal-fired power internationally through the ‘No New Coal’ Energy Compact committed one year ago to the United Nations by the Powering Past Coal Coalition and the governments of Sri Lanka, Chile, Montenegro, Denmark, the UK, France and Germany, as well as supporting Energy Compact Action Network launched in May 2021, that is helping connect organizations and coalitions with aligned commitments on SDG7;
- Supporting a just and equitable energy transition in selected developing countries, building upon SEforALL’s recent efforts to support Nigeria’s development of an Energy Transition Plan that can build jobs and economic growth as well as achieve net zero emissions by 2060; and
- Building China’s capacity for clean energy finance in developing countries, including identifying mutually beneficial opportunities to localize the solar photovoltaic supply chain in one or more African countries, and unlocking wider green finance opportunities for clean energy. This effort will build upon an emerging China-UN Platform on climate cooperation and renewable energy.
The past year has seen growing consensus on accelerating a just and equitable energy transition and new commitments on climate, including China’s announced ending of international finance for coal generation, the ‘Just Energy Transition Partnership’ deal announced for South Africa, and a significant Net Zero climate target announced by Nigeria. Lingering significant shortfalls in finance for developing countries remain however, with a lack of consensus on the shape of a ‘fair’ energy transition to ‘Net Zero’ in the context of countries experiencing rapid growth and still grappling with energy poverty.
The ongoing war in Ukraine has further undermined efforts to develop clean energy in Sub-Saharan Africa. The COP27 climate summit in Sharm El-Sheikh this November will likely focus on priorities for the African continent, including adaptation, climate finance, low-cost technologies, and financing of loss and damage while COP28 next year in the United Arab Emirates is likely to continue these themes.
“I’m delighted that Bloomberg Philanthropies is stepping up its support for SEforALL’s work, and I am also pleased to be working alongside both Bloomberg and ClimateWorks Foundation on this expanded effort” said Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary General for Sustainable Energy for All. “While there is much left to do to meet the aspirations of Sustainable Development Goal 7 and the Paris Climate Agreement, this represents a big step forward in our capacity to support UN-Energy in driving impact through the Energy Compacts process, and to begin to replicate the model we have developed with the Nigerian Government in other countries.”
“This new commitment represents a key element of Bloomberg Philanthropies’ mission to end coal-fired power internationally,” said Ailun Yang, Environmental Program at Bloomberg Philanthropies. “It builds upon our partnership with SEforALL that has been developing over the past two years. With its close links to the UN system and to governments dealing with the greatest energy transition and energy access challenges, we see SEforALL as an important agent for change.”