Global Energy Transition Initiative Project Dates: January 2022 - December 2026
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PROJECT OBJECTIVE

The Global Energy Transition initiative supports efforts to rapidly transform the global power sector toward clean energy, beginning with 10 emerging economies across Africa, Asia, and South America. These are countries where power demand is projected to rapidly grow and there is huge potential for solar, wind, and other renewable energy deployment in this decade. The initiative also supports efforts in Japan, Australia, and South Korea to accelerate the coal to clean energy transition, reduce emissions, and achieve a 1.5-degree pathway. The benefits of a transition to clean energy go far beyond reducing greenhouse gas emissions and mitigating climate change. It creates jobs, builds local manufacturing value chains, improves infrastructure, protects public health by keeping pollutants out of the air, and provides affordable and accessible power. By shifting to clean energy, developing nations can secure a resilient and thriving future.

PROJECT DESCRIPTION

Clean power can catalyze dramatic reductions in global carbon dioxide emissions and yield significant additional benefits, such as healthier living conditions, increased energy security, and greater economic competitiveness. The ClimateWorks Power Program targets key areas that, together, can accelerate the transformation of the global power sector. The Global Energy Transition initiative supports efforts to rapidly transform the global power sector toward clean energy, beginning with 10 emerging economies across Africa, Asia, and South America. A total grant of $38.6 million was awarded to clean energy initiatives. Companies such as PT New Energy Nexus Indonesia, PT Sarana Multi Infrastruktur (Persero), and Climate Smart Ventures in the Philippines are among the Global Energy Transition Initiative’s grant recipients.


SECTORS OR AREAS OF WORK
  1. Energy efficiency
  2. Energy transition


BUDGET

USD 386,000,000

DONORS (OR FUNDING /CONTRIBUTING ORGANIZATIONS)
  1. ClimateWorks Foundation
IMPLEMENTING AGENCY OR AGENCIES

SUPPORT TYPE
GOVERNMENT PARTNER
  1. None
BUDGET

USD 386,000,000

DONORS (OR FUNDING /CONTRIBUTING ORGANIZATIONS)
  1. ClimateWorks Foundation
IMPLEMENTING AGENCY OR AGENCIES

SUPPORT TYPE
GOVERNMENT PARTNER
  1. None