The Climate Solutions That Play Double-Duty

Apr 7, 2022 | Yusuf Jameel and Aiyana Bodi
View Original

Finance for climate action is growing—however, much of this money is being invested in wealthier nations, while the regions where funds are needed most are often overlooked and underfunded by both public and private institutions. The good news for funders is that there are climate solutions that not only significantly reduce greenhouse gas emissions, but also create cascading social and public health benefits for communities on the frontlines of the climate crisis. For those looking to get the biggest return on their investment—for both people and planet—we offer two particularly promising solutions: ramp up funding for clean cooking and electricity where they matter most.

In addition to directly reducing atmospheric CO₂, providing everyone with clean cooking offers abundant health, social, and environmental benefits. Household air pollution related illnesses, caused by open fires and inefficient burning, contributes to nearly four million premature deaths globally every year.

While investments in renewable energy generation receive the majority of climate financing and have grown tremendously in emerging economies, similar investments in sub-Saharan Africa remain abysmally low. There is a major window of opportunity for sub-Saharan African countries to leapfrog ahead and provide much-needed electricity through clean sources of energy. With proper access to financing, the region could meet more than two-thirds of its electricity needs from renewable sources by 2050, while also generating 2 million green jobs.