• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Press Media Release

press release distribution

  • Submit a Press Release
  • Market Wire
  • Make a Contribution
  • About
    • Template for press/media release
  • Contact

U.S. Department of State, Bezos Earth Fund, and Rockefeller Foundation Announce Next Steps on Energy Transition Accelerator

January 15, 2023 By admin Leave a Comment

ABU DHABI, UAE, Jan. 15, 2023 – The U.S. Department of State, The Rockefeller Foundation, and the Bezos Earth Fund today announced next steps in developing the Energy Transition Accelerator (ETA), a joint initiative to catalyze private capital to accelerate the transition from dirty to clean power in developing countries.

The three partners introduced the broad outlines of the ETA at the United Nations Climate Change Conference (COP 27) in November in Sharm el-Sheikh with the aim of undertaking an inclusive process to fully design the initiative in the lead up to COP 28 this December in Dubai.

In a session today at the Atlantic Council Global Energy Forum in Abu Dhabi, U.S. Special Presidential Envoy for Climate John Kerry, Bezos Earth Fund Chief Executive Officer Andrew Steer, and The Rockefeller Foundation Executive Vice President Elizabeth Yee announced a set of broad principles that will guide the ETA, the formation of a High-Level Consultative Group to provide input informing its development, and a core team of experts and institutions contributing to the ETA’s design.

The ETA’s aim is to help keep a 1.5°C limit on warming within reach by driving private investment in comprehensive energy transition strategies that accelerate the deployment of renewable power and the retirement of fossil fuel assets in developing countries. Annual clean energy investment must triple to $4.2 trillion by 2030 to keep 1.5°C within reach, according to the International Energy Agency, with more than half of that investment in emerging and developing economies.

As envisioned, the ETA will support country-driven energy transition strategies through a high-integrity voluntary carbon market framework that will generate carbon credits representing verified greenhouse gas emissions reductions and make them available to qualified private sector and sovereign government buyers.

In accelerating the clean energy transition, the ETA will aim to deliver deeper, earlier emissions reductions, help developing countries achieve and strengthen their nationally determined contributions (NDCs) under the Paris Agreement, and advance broader sustainable development goals, including expanded energy access and poverty alleviation. It also will generate new finance to strengthen adaptation efforts in vulnerable countries.

The guiding principles (full text below) call for an inclusive, comprehensive, high-integrity approach that mobilizes new climate finance, supplementing other sources, to promote ambitious efforts to rapidly reduce emissions in this critical decade.

The High-Level Consultative Group helping to inform the ETA’s development will include leading experts across a wide range of regions and constituencies representing civil society organizations, standard-setting initiatives, private sector coalitions, and intergovernmental bodies. Participants confirmed to date are listed below.

In addition to the High-Level Consultative Group, the partners will provide broader opportunities for stakeholders to provide input, including briefings and listening sessions, and the release of draft elements of the ETA methodology for public comment.

The Department of State, The Rockefeller Foundation, and the Bezos Earth Fund are collaborating for the purpose of developing the Energy Transition Accelerator as an independent initiative.

The partners’ efforts to develop the ETA are being supported by a strong team of experts and institutions, with lead coordination provided by the Center for Climate and Energy Solutions (C2ES) and the Environmental Defense Fund (EDF). In designing the ETA, the partners will seek broad alignment with evolving best-practice standards, including those of the Science Based Targets Initiative (SBTi), the Voluntary Carbon Markets Initiative (VCMI) and the Integrity Council for the Voluntary Carbon Market (IC-VCM).

ENERGY TRANSITION ACCELERATOR GUIDING PRINCIPLES
The Energy Transition Accelerator will aim to help keep a 1.5°C limit on warming within reach by catalyzing private capital to accelerate the transition from dirty to clean power in developing countries. Its development will be guided by broad, transparent consultation and the intention to align the ETA with these six core concepts:

Near-term—Promoting ambitious efforts by countries and companies to rapidly reduce greenhouse gas emissions (GHGs) now, in this critical decade.
Inclusive—Advancing programs that deliver on broader sustainable development goals, including expanded energy access and poverty alleviation, and that are underpinned by strong transparency and social, environmental, and other just transition safeguards.
Comprehensive—Supporting ambitious power sector-wide energy transition strategies that accelerate the deployment of renewable power and the retirement of fossil fuel assets.
High-integrity—Ensuring strong environmental integrity by offering payments only for GHG reductions that are based on and verified to a robust standard and by seeking strong alignment with best practices for the pursuit of global net zero GHGs, including for private sector net zero strategies and the use of carbon credits.
Supplemental—Incentivizing new private-sector climate finance for mitigation and adaptation that augments, not substitutes for, other sources of public, private, multilateral, and philanthropic finance and companies’ continued investments in deep emissions reductions within their own value chains.
Transitional—Helping, on a time-limited basis, to kickstart the energy transition by rewarding accelerated power sector decarbonization and by providing an option for companies to responsibly use the resulting verified GHG emission reductions to reinforce science aligned progress toward global net zero GHGs.

ENERGY TRANSITION ACCELERATOR HIGH-LEVEL CONSULTATIVE GROUP (Preliminary List of Participants)
Luiz Fernando do Amaral, CEO, Science Based Targets initiative (SBTi)
Inger Andersen, Executive Director, U.N. Environment Programme (UNEP)
Peter Bakker, President and CEO, World Business Council for Sustainable Development (WBCSD)
Manish Bapna, President and CEO, Natural Resources Defense Council (NRDC)
Harry Boyd-Carpenter, Chair, Joint MDB Climate Group
Barbara Buchner, Global Managing Director, Climate Policy Initiative (CPI)
Aniruddha (Ani) Dasgupta, President and CEO, World Resources Institute (WRI)
Saliem Fakir, Executive Director, The Africa Climate Foundation
Arunabha Ghosh, CEO, Council on Energy, Environment and Water (CEEW)
Andrea Guerrero García, Program Director, Growald Climate Fund
Saleemul Huq, Director, International Centre for Climate Change and Development (ICCCAD)
Catherine McKenna, Chair, U.N. High-level Expert Group on the Net Zero Emissions Commitments of Non-State Entities
Rebecca Mikula-Wright, CEO, Asia Investor Group on Climate Change (AIGCC)
Helen Mountford, President and CEO, ClimateWorks Foundation
Brian Moynihan, Chair, Sustainable Markets Initiative (SMI)
Annette Nazareth, Chair, Integrity Council for the Voluntary Carbon Market (IC-VCM)
Damilola Ogunbiyi, CEO, Sustainable Energy for All (SEforALL)
Michele Roberts, National Co-Coordinator, Environmental Justice Health Alliance
Vera Songwe, Co-Chair, U.N. High Level Expert Group on Climate Finance
Sir Nicholas Stern, Chair, Grantham Research Institute on Climate Change and the Environment, London School of Economics
Fabby Tumiwa, Executive Director, Institute for Essential Services Reform (IESR)

To express interest in the ETA, please contact: [email protected]

About the Bezos Earth Fund
The Bezos Earth Fund is Jeff Bezos’ $10 billion personal commitment to fund scientists, activists, NGOs and others to help drive climate and nature solutions. By allocating funds creatively, wisely, and boldly, the Bezos Earth Fund has the potential for transformative influence in this decisive decade. Funds will be fully allocated by 2030 — the date by which the United Nations Sustainable Development Goals must be achieved. More information about the Bezos Earth Fund is available here: https://www.bezosearthfund.org/who-we-are.

About The Rockefeller Foundation
The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

SOURCE The Rockefeller Foundation

Filed Under: News Tagged With: Accelerator, energy

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • The Role of Forests in Climate Change Mitigation
  • U.S. Department of State, Bezos Earth Fund, and Rockefeller Foundation Announce Next Steps on Energy Transition Accelerator
  • Social Media Digest
  • COVID-19 Claims 2,000 Lives Per Week; 3 Critical Things Everyone Should Know
  • Economic Uncertainty Rising, 83% of Marketing Leaders to Prioritize Investments in Operational Efficiency and Hiring in 2023
  • PXEF.com adds new AI painting to art gallery: “Rich girl, poor girl in the swimming pool”
  • Market Research Media releases new market research report on the U.S. government market for low-code/no-code software
  • XRY, the MSAB extraction solution, comes with new features centered on ensuring the chain of custody of digital evidence
  • Ultisim Announces Advisory Board
  • Exclusive.org Announces Sale of Exclusive Domains

Media Partners

  • VPNW.com
  • OPINT
  • Digital Market
How weather changes affect blood pressure
How to ease workplace stress?
The Importance of Sleep for Athletes
How to successfully ask for a raise
How to organize a corporate holiday party?
For the next 5 years Macron will be scratching around for the votes he needs to get anything done
MSAB wins groundbreaking deal in Japan
Spotivity Closes $1M Seed Funding Round
Status of RCV Effort
Multi-Disciplined U.S. Air Force Leader Michael Newsom Joins System High as Vice President of Acquisitions and Operations
RedStone Raises $525K in First Round of Funding to Expand Its Market Leading Next-Generation Decentralized Oracle Platform
Digitally native brands are growing at triple the rate of e-commerce
With $6.2M, Pebble launches a financial app built to replace your bank account
Photobucket Launches New Collaboration With Facebook As A Destination For Facebook’s Transfer Your Information Tool
Cryptograph – the Original Luxury & Celebrity NFT Auction Platform – Celebrates One Year Anniversary With New Gasless Auction Technology and Major Upcoming NFT Drops, All in the Name of Perpetual Altruism

Media Partners

  • Media Instances
  • PXEF.com
  • S3H.com
The Norse god Baldr was killed by a spear made of what?
In 2021 Big Tech spent more on political ads than Big Pharma
The Vogelherd horse
Mango and Melons
Rotating Man by Yasuhiro Suzuki
How about sitting on the beach for entire day?
Alice in Wonderland in Art Nouveau style
Photographic history of America
Apple Regains World’s Most Valuable Brand Status
Words matter, pixels enhance words
AI Hardware Trends 2023
What is transient performance study (TPS)?
India is a rising star, while China’s future is murky
S3H 2023: Latest trends in Software, Services, Solutions, and Hardware (S3H)
How data can help companies better understand and improve the employee experience

Copyright © 2022 PressMediaRelease.com

Sponsored by Exclusive Domains

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT