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Posted on October 29, 2020 by  & 

Rockefeller Foundation USD1 Billion to Green Recovery from Pandemic

The Rockefeller Foundation will commit USD1 billion over the next three years to catalyze a more inclusive, green recovery from the Covid-19 pandemic. Building on current efforts and long-standing programs, the Foundation will focus on two key areas: catalyzing billions of dollars in private and concessional investments to scale distributed renewable energy across developing countries; and ensuring more equitable access to Covid-19 tests and vaccines, science-based tools, and data to fight the pandemic, while strengthening public health systems to prevent future outbreaks. In addition to this unique, one-time commitment of additional resources, The Rockefeller Foundation's efforts and energies, as a whole, will be rededicated and reoriented toward improving the lives of the world's poorest people and addressing inequities made worse by this virus.
 
Prior to the pandemic, half the world's population lacked access to essential health services, and more than 800 million people worldwide lacked access to electricity. Billions more have their potential diminished by unreliable or insufficient energy access, predominantly provided by carbon-emitting fuels. The energy accessibility gap has further widened because of the pandemic. This year alone, more than 100 million people have seen their electricity access severed because they couldn't pay their bills during the pandemic, with the toll falling disproportionately on the poor and most vulnerable. The World Bank also estimates that the combined impact of climate change and the damage done by Covid-19 will push 132 million people into poverty. For further information see the IDTechEx report on Distributed Generation: Off-Grid Zero-Emission kW-MW 2020-2040.
 
 
This calls for bold action to address these disparities and ensure a global response that assures a more inclusive, sustainable future for all.
 
Green power equals more inclusive opportunity
Over the past decade, The Rockefeller Foundation has made ending energy poverty in a clean, sustainable way a priority around the world. Providing reliable electricity to communities that often receive the brunt of climate change is essential to creating the economic opportunity for them to lift themselves out of poverty. As a result of pioneering breakthroughs in distributed renewable energy technologies, it is now possible to end energy poverty in ten years without accelerating carbon emissions. Compared to conventional grid-based electrification, scaling these technologies to provide green energy to half a billion people would save 1.5 billion tons of CO2 emissions over the next decade. Access to energy can also boost the irrigation, crop yields, and productivity of local agriculture. Farmers can further protect crop values with cold storage or increase their returns with post-harvest processing.
 
"Over the past decade, our Smart Power Initiative's investments have improved the lives of almost 500,000 people in India, Myanmar, and parts of sub-Saharan Africa, so we know this can work," said Ashvin Dayal, Senior Vice-President of the Power & Climate Initiative at The Rockefeller Foundation. "By refining the business case for distributed renewable electrification and deepening our technical knowledge of mini grid systems and their impact on people's lives and livelihoods, we paved the way for the launch of a partnership with Tata Power, TP Renewable Microgrid (TPRMG). This effort is expected to invest $1 billion by 2026, deploying up to 10,000 mini grids that will provide clean energy to 5 million households, create 10,000 new green jobs, support 100,000 rural enterprises, deliver irrigation to 400,000 farmers, and in total, provide access to reliable power for more than 25 million people across the communities they serve."
 
 
Collaborating with global investors, international organizations, and governments, the Foundation will focus on driving historic public-private investment in infrastructure that accelerates access to clean, safe, and reliable renewable energy across Africa, Asia, and Latin America.
 
Increasing healthcare access to end the pandemic
Earlier this year, The Rockefeller Foundation, with support from an ideologically diverse team of top scientists, industry, technologists, and economists, launched a U.S. National Covid-19 Testing & Tracing Action Plan. It also collaborated with federal, state, and local leaders to increase access to Covid-19 testing, overall, with a particular focus on vulnerable communities all across America. Given the scale of the current crisis, the Foundation will continue to increase its investment in the U.S. and around the world to expand access to screening tests, treatments, and vaccines when they become available. Better data can identify communities at high risk for chronic and infectious disease and other health issues, directing resources to where they are needed most and targeting preventative interventions more precisely. Using predictive analytics, among other technologies, can better prevent a disease outbreak from becoming a pandemic.
 
Source: The Rockefeller Foundation
top image: Pixabay
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