Global Alliance Powers Ahead: Transforming the Green Energy Landscape

The Global Energy Alliance for People and Planet is setting an ambitious goal, aiming to invest approximately $7.5 billion in renewable energy across developing countries over the next five years. Despite facing challenges as richer nations reduce government aid, the alliance is seeking new philanthropic partnerships to support its efforts.

Launched during the global climate talks in 2021, the alliance has already assisted more than 30 countries with enhancing electricity grids and creating jobs in the green economy. Founded by the IKEA Foundation, The Rockefeller Foundation, and the Bezos Earth Fund, the initiative now includes partners such as Britain, Denmark, the World Bank, and private companies like GE Vernova.

Amid the U.N. General Assembly and New York's climate week, the alliance is looking to form new collaborations ahead of the upcoming climate conference in Brazil. The focus will be on securing finance to help developing countries transition to green energy. The alliance also highlights the need for innovative models to deliver large-scale development as official aid declines.

(With inputs from agencies.)