Abt Global is doing its part in the fight against climate change by implementing various global projects: 👉 The USAID Comprehensive Action for Climate Change Initiative (#CACCI), USAID's global flagship program, helps nations meet their Paris Agreement climate commitments by creating programs and policies to mitigate and adapt to climate change. 👉 The USAID Caribbean Resilient Economies and Sectors (#RESET) Program is working to reduce barriers to public and private finance to build climate and disaster resilience and support the adoption of climate-smart practices in critical sectors 👉 The USAID Mongolia Energy Governance (#MEG) Activity is promoting a #GenderJustEnergyTransition by providing women and youth with training in emerging green technologies and leadership skills to empower them as change agents in Mongolia’s transition away from fossil fuels. 👉 The USAID Health Electrification and Telecommunications Alliance (#HETA) is providing reliable access and digital connectivity to health facilities in Africa using renewable energy technologies. 👉 The DFAT Partnerships for Improving Education (PIE) is working with education stakeholders in PNG to adopt approaches and mechanisms that reduce climate risks, including through the mainstreaming of disaster risk reduction and disaster risk management in school leadership and management training, implementing #GreenInfrastructure projects in educational facilities, implementing awareness campaigns, and supporting renewable energy solutions in schools. #ClimateAction #LCAW London Climate Action Week
It was a privilege to attend last month's Climate Innovation Forum 2024 (#CIF2024), the flagship event of London Climate Action Week (#LCAW). CIF takes place annually at the mid-way point between COPs, and brings together leaders, experts, and advocates representing policy, business, and finance from around the world to forge pathways to successful climate action. Some of my takeaways: 🌍 Global spending on clean energy technologies is projected to reach $2 trillion in 2024, double the $1 trillion expected to be spent on fossil fuels. Though over 600 million people in Africa have no access to electricity and around 1 billion have no access to clean cooking fuels, the continent is projected to receive only around $40 billion (or 2%) of this figure. 🌍 The cost of capital for renewable energy projects like solar PV and wind is still high in emerging economies—sometimes more than twice than what they cost in advanced economies. This reduces their financial viability and competitiveness and makes it difficult for developers to access affordable financing for clean energy projects. Bringing down this cost is essential to unlocking renewable energy growth in these economies. 🌍 Policy can be both an enabler of and a barrier to climate action. It can effectively achieve objectives like building energy security or competitiveness or reducing air pollution, but it can be derailed by bureaucratic, political, and financial hurdles. It can also achieve the opposite outcome if poorly designed/grossly misaligned with other policy goals. 🌍 Estimates vary, but trillions are required over the next three decades to meet climate goals. The private sector is critical in mobilizing this money globally and investing it in game-changing technologies that are rapidly coming online. Multilaterals and donors can unlock additional funding through blended finance. 🌍 Young people play a crucial role in driving climate change accountability They want to be meaningfully involved in formulating the next round of nationally determined contributions (NDCs), national adaptation plans (NAPs), and biennial transparency reports (BTRs). Governments and the private sector can facilitate their involvement by creating more spaces for them to share their views, enhancing education, awareness, and capacity building, and investing in green education. 🌍 Given their nature as fairly risk-tolerant and flexible entities, philanthropic organizations are well-placed to help unlock public and private funds and accelerate and scale climate solutions. 🌍 Climate change is a global issue, but most solutions require a local approach. Climate change policies and preparedness strategies attract community support and are most effective if they are established through inclusive processes. #AbtGlobal #ClimateResilience #ClimateMitigation