Rockefeller Foundation commits US$1bn to green recovery

By Georgia Wilson
Driving a more inclusive green recovery from COVID-19, Rockefeller Foundation commits to investing US$1bn over the next three years...

Building on its current efforts and longstanding programs, the Rockefeller Foundation aims to focus on two core areas as part of its US$1bn commitment over the next three years. 

“Catalyzing billions of dollars in private and concessional investments to scale distributed renewable energy across developing countries; and ensuring more equitable access to COVID-19 tests and vaccines, science-based tools, and data to fight the pandemic, while strengthening public health systems to prevent future outbreaks,” commented the foundation in a recent statement

In addition to committing US$1bn, the Rockefeller Foundation aims to rededicate and reorientate its efforts towards improving the lives of the poorest people in the world, as well as addressing inequity worsened by the impact of COVID-19.

Prior to COVID-19 over 800mn people lacked access to electricity around the world, since the outbreak energy accessibility has continued to rise. Rockefeller Foundation reports that over 100mn people have had their electricity access severed due to inability to pay bills during the pandemic, with numbers disproportionately falling on the poor and vulnerable. 

"There's no going back to the past, to before-COVID. We need to reimagine the future we want. To meet this moment, we must leverage all our resources and relationships to build an equitable, sustainable future, where everyone has the opportunity to realize their full potential and climate disaster is avoided. The time to act is right now to make sure vulnerable children and families are included in the pandemic response and recovery,” commented Dr. Rajiv J. Shah, President of the Rockefeller Foundation.

As part of its commitment, the foundation will collaborate with global investors, international organisations and governments to drive public-private investment in infrastructure, to accelerate access to clean, safe and reliable renewable energy in Africa, Asia, and Latin America.

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