Global Energy Alliance for People and Planet

The Global Energy Alliance for People and Planet works with countries worldwide to accelerate an equitable energy transition for people and planet. Its work is organized around three catalytic themes—distributed renewable energy, green grids, and green economy. It provides country-level support to 7 foundation countries, focuses on replicable and scalable solutions in an additional 13 countries, and reaches 80+ countries. The seven foundation countries––Congo, Ethiopia, India, Indonesia, Nigeria, South Africa, and Viet Nam––have been prioritized based on the scale of potential impact and existing government commitments to clean energy.

The Rockefeller Foundation launched the Global Energy Alliance for People and Planet (GEAPP) at the 2021 United Nations Climate Change Conference (COP26) to promote universal energy access and meet critical climate goals. The IKEA Foundation and Bezos Earth Fund also support GEAPP.

In December 2023, ADB, GEAPP, and the Monetary Authority of Singapore announced their intent to establish a blended finance partnership to accelerate the energy transition at scale in Asia. They signed a memorandum of understanding (MOU) to set up a finance partnership to mobilize concessional capital from the philanthropic and public sectors, de-risk projects, and crowd in private capital from around the globe to finance energy transition projects in Asia. Such projects include the early phaseout of coal assets to be replaced with renewable energy, and decarbonization projects in hard-to-abate sectors. The MOU was signed at the 2023 COP28.

Highlights

Trust Funds. In June 2023, ADB established the GEAPP Energy Access and Transition Trust Fund (GEATTF) under the Innovative Finance Facility for Climate in Asia and the Pacific Financing Partnership. It aims to accelerate the transition to clean energy and scale inclusive energy access for poor and vulnerable populations through the provision of grants and blended finance in five of ADB’s developing member countries (Bangladesh, India, Indonesia, Pakistan, and Viet Nam). The GEATTF was established with a $35 million contribution commitment from GEAPP.