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The IKEA Foundation and The Rockefeller Foundation have announced they will join forces to set up a $1 billion global platform. The platform aims to reduce 1 billion tons of greenhouse gas emissions and to empower 1 billion people with distributed renewable energy (DRE).
This is renewable energy generated from sources such as mini-grid and off-grid solutions, located near the point of use, rather than centralised sources like power plants. The new global platform will oversee the organisations’ combined matching funds. It aims to deliver clean and reliable power to the 800 million people worldwide who lack electricity, and a further 2.8 billion who have unreliable access. It will be run as a public charity to manage a concerted effort to rapidly channel development funds to life-changing projects on the ground.
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