The Bloomberg Foundation said in a press release on its official website that the goal of the partnership is “to spread clean energy and raise capital in emerging markets and developing economies.”
The official announcement was made in the presence of Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technologies of the United Arab Emirates and President Designate of COP28, Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), and Michael R. Bloomberg, United Nations Special Envoy for Climate Solutions and founder of Bloomberg.
“Bloomberg Philanthropies’ support will enable IRENA to enhance efforts to promote widespread adoption of renewable energy and reduce policy, technical and financial barriers, building capacity in Southeast Asia, Africa and in Latin America, by improving project financing and facilitating the mobilization of private capital,” the statement added. .
In this regard, Sultan Al Jaber said, “The UAE welcomes this ambitious partnership between Bloomberg Philanthropies and IRENA to support innovation and deliver clean energy, climate action and economic prosperity to emerging markets. from South. The world must move faster and faster than ever to seize the moment of appreciation.” “I look forward to working alongside Bloomberg Philanthropies and the International Renewable Energy Agency to transform the world and help ensure that COP28 keeps its promises by proposing revolutionary solutions for all.”
Michael R. Bloomberg said, “Working closely with the International Renewable Energy Agency, we will help countries in the Global South develop the capabilities they need to build clean energy projects faster and more efficiently. We look forward to working with IRENA and all of our partners to accelerate the energy transition.
As for Francesco La Camera, he explained: “Although we continue to make progress in the energy transition, it is still far from being the right path. As we move towards solutions at COP28, the agreement Today’s meeting between IRENA and Bloomberg Philanthropies will accelerate the development and delivery of renewable energy projects to countries that desperately need them.”
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