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Home»Environmental»ATLEAST $2.2BILLION RAISED IN GLOBAL CLEAN ENERGY SUMMIT
Environmental

ATLEAST $2.2BILLION RAISED IN GLOBAL CLEAN ENERGY SUMMIT

felix@elixnews.co.ugBy felix@elixnews.co.ugMay 16, 2024Updated:March 24, 2026No Comments5 Mins Read
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Atleast $2.2billion in financial pledges from governments and the private sector has been mobilised in the first-ever high-level Summit on providing clean cooking access to the more than 1 billion people in Africa.

The co-chairs of the Summit on Clean Cooking in Africa including the President of the United Republic of Tanzania, Samia Suluhu Hassan said the money collected so far would help to address what they described as one of the world’s most persistent and deep-seated inequalities.

Close to 60 countries are taking part in the Summit, with over 1,000 delegates in attendance. President Emmanual Macron of France is hosting a special session for heads of state and other leaders at the Elysée Palace.

The Summit is a follow-up to the last UN Climate Change Conference in Dubai (COP 28) where it was noted that the tools for enabling clean cooking access are readily available and affordable – and can have a profound impact on the lives of people across Africa and beyond.

It was noted that Africa was lagging in progress on clean cooking compared to other in other regions in recent decades.

The pledges made at the Summit come on top of other recent commitments including that of the African Development Bank at COP28 in Dubai.

Lack of access to clean cooking affects over 2 billion people worldwide. More than half are in Africa, typically cooking over open fires and basic stoves. Using charcoal, wood, agricultural waste, and animal dung as fuel, they inhale harmful toxic fumes and smoke with dire consequences for health.

It is the second leading cause of premature death in Africa. Women and children account for most of the lives lost, the vast majority of them in sub-Saharan Africa.

Opportunities for education, employment and independence are limited because women instead spend hours each day foraging for rudimentary fuels.

President Samia Suluhu Hassan of Tanzania said ensuring clean cooking access for all in Africa needs adequate, affordable, and sustainable financing for appropriate solutions and innovations.

She said there is also a need for adequate global attention; and smart policies and partnerships.

“Successfully advancing the clean cooking agenda in Africa would contribute towards protecting the environment, climate, health, and ensuring gender equality,” said Suluhu whose government has just launched a ten-year strategy on clean cooking.

Prime Minister Jonas Gahr Støre of Norway said improving access to clean cooking is about improving health outcomes, reducing emissions, and creating opportunities for economic growth.

“With today’s Summit, we have mobilized much-needed support and built a diverse partnership that together can make a real difference. Norway is a steadfast supporter of clean cooking, and I was pleased to announce today that we are committed to investing approximately $50 million in this important cause,” he said.

International Energy Agency Executive Director Fatih Birolsaid the Summit has delivered an emphatic commitment to an issue that has been ignored by too many people, for too long.

“We still have a long way to go, but the outcome of this Summit, $2.2 billion committed, can help support fundamental rights such as health, gender equality and education while also reducing emissions and restoring forests” he said.

Birol added that he commitments announced go beyond the money alone – they set out concrete steps on how governments, institutions and the private sector can work together to solve the clean cooking challenge this decade.

“I’m proud of the IEA’s decades of work on this issue and of its leadership in initiating this groundbreaking Summit. Going forward, we will rigorously track the commitments announced today to make sure they’re met on time and in full and continue to do our utmost to bring greater resources and attention to this critical issue.” African Development Bank Group President Akinwumi A. Adesinasaid: “At the African Development Bank, we are delighted to play a leading role alongside the International Energy Agency (IEA), Tanzania and Norway, to definitively tackle lack of access to clean cooking, that affects a billion people in Africa.

“In concert with countries, we will increase our financing for clean cooking to $200 million annually over the next decade, while also scaling up the provision of blended finance for clean cooking through the Sustainable Energy Fund for Africa (SEFA),” Adesinasaid

The IEA said it will employ a “double-lock system” to ensure that the momentum behind clean cooking does not slow in the coming months and years.

The agency will focus efforts on two areas.

First, by using effective tracking methods to ensure that pledges and commitments are fulfilled, monitoring them carefully to make sure the money is spent in a timely manner and reaches those in need.

Second, the IEA will continue to play a convening role to engage more willing partners and generate new funds to help meet the $4 billion a year in capital investments required between now and 2030.

Reaching this level of funding would enable the world to deploy the stoves and fuel delivery infrastructure needed to reach universal access to clean cooking in sub-Saharan Africa,” she said.

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BEYOND THE BOOM: CAN UGANDA TURN $12B OIL RUSH INTO LASTING WEALTH?

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