Rockefeller Foundation and IKEA Foundation to launch $1 billion clean energy fund: UN

UNITED NATIONS: The Rockefeller Foundation and the IKEA Foundation have proclaimed to launch a $1 billion fund to increase access to renewable energy in developing countries, one of the key pledges made during a series of virtual United Nations ministerial forums this week, according to a UN statement.

50 ministers delineated their plans to decrease releases and ensure that everyone should have access to electricity and clean cooking fuels, as the world changes away from fossil fuels, towards renewable energy.

UN Secretary-General Antonio Guterres stated in the Forums: “We are running far behind in the race against time to achieve Sustainable Development Goal 7 by 2030, and net-zero emissions by mid-century”.

He called on “every country, city, financial institution and company to raise ambition and submit Energy Compacts for the High-level Dialogue”.

Globally, nearly 760 million people face a shortage of electricity and 2.6 billion continue to cook with old-style fuels like wood that not only contribute to carbon releases but also causes 4 million deaths each year from indoor smoke.