Global energy alliance for people and planet (GEAPP) wins WEF award for catalyzing cross-sector partnerships
WVR - The Global energy alliance for people and planet (GEAPP) has received an inaugural Giving to amplify Earth action (GAEA) Award for Philanthropic-Public-Private partnership at the World Economic Forum (WEF).
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| Mr. Andrew Steer, President and CEO of Bezos Earth Fund (in centre) accepted the award for the GEAPP. (Source: GEAPP) |
This award recognizes the impact of scalable, innovative collaborations that are leveraging the contributions of philanthropy, government and private sector stakeholders to tackle climate change.
GEAPP was recognized for its efforts in uniting partners across sectors to develop and scale renewable energy solutions in Asia, Africa, Latin America and the Caribbean, including building an Alliance of 50+ partners, mobilizing 1.07 billion USD to fund 130 projects in 40 countries, averting an estimated 147,000 tons of carbon emissions and supporting the livelihoods of over 2 million people within its first two years.
Mr. Woochong Um, CEO of GEAPP said: “The climate crisis is a global problem that requires global solutions, and GEAPP’s recognition at the inaugural GAEA Awards is a testament to the power of radical collaboration as a key driver of change. Our Alliance is excited to be part of a community of such inspiring peers. We urgently need to build this movement and the resources going towards the opportunity of renewable energy. We look forward to establishing new connections to drive change and accelerate our mission of expanding renewable energy access to one billion people around the world, averting 4 gigatons of carbon emissions and enabling 150 million sustainable livelihoods through job creation and the productive use of energy.”
GEAPP’s Alliance model pioneers transformational clean energy projects across emerging markets to support global ambitions to achieve a sustainable future for all. Through the deployment of blended finance and flexible capital solutions to address market barriers, GEAPP maximizes the power of catalytic capital, bringing together multilateral development banks, governments, private sector, non-governmental organizations, communities and philanthropies, unlocking commercial and public financing.
In 2023, GEAPP launched the Battery Energy Storage Systems (BESS) Consortium, a multi-stakeholder partnership of countries and resource partners to expand battery storage capacity in lower- and middle-income countries. Battery storage systems are a central component to increasing the reliability of grids and accommodating the variable renewable energy sources that are needed to power economic development. To date, more than 15 countries and 20 resource partners have committed to the Consortium, which is fast tracking flagship projects in every region and aggregating additional pipeline.
The BESS Consortium is just one example of the radical collaboration and bold action that enables the Alliance to foster a people-positive energy revolution that places prosperity for people and planet at the heart of climate action. Other work centers around distributed renewable energy (DRE) initiatives, including GEAPP’s technical assistance program within Mission 300 – an ambitious project launched jointly by the World Bank and the Africa Development Bank to bring energy to 300 million people in Africa by the end of the decade. Through this work and a focus on jobs and livelihoods, GEAPP is delivering on its mission of reducing energy poverty and creating sustainable opportunities for all.
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| Ms. Sunita Dubey, GEAPP Country Representative in Vietnam during her visit to the BESS System at Saigon Hi-tech Park. (Source: GEAPP) |
In Vietnam, the Alliance is providing access to catalytic financing and technical assistance for solutions like BESS. The BESS pilot project in Vietnam is being developed by Vietnam Electricity (EVN) in association with GEAPP, Rocky Mountain Institute (RMI), the Vietnam Energy Institute and the Asian Development Bank (ADB).
The 50 MW/50MWh system will provide insights on how BESS projects can be integrated into Vietnam’s power system. Solutions like BESS align with Vietnam’s Eighth Power Development Plan (PDP8), which aims to create 300 MW of battery energy storage by 2030. BESS is also linked to Vietnam’s Just Energy Transition Partnership which intends to speed up the country’s decarbonization efforts.
Another focus of GEAPP in Vietnam is the Climate Leaders Network (CLN), in partnership with the International Finance Corporation (IFC), the United States Agency for International Development (USAID), and the Australian Department of Foreign Affairs and Trade (DFAT). The CLN intends to empower women leaders across Vietnam’s key economic sectors, facilitating their active participation in climate initiatives. This is a platform to mainstream gender into energy transition, catalyze entrepreneurship in the green energy sector, and provide mentorship and training programs.
Ms. Kitty Bu, Vice President, Southeast Asia, GEAPP, said: “Innovative financing mechanisms are imperative for enabling climate finance flows in emerging economies. To bring about lasting change, we need to harness the power of catalytic capital. Increased public-private-philanthropic collaboration will pave the way for scalable solutions that can drive the energy transition forward. GEAPP is proud to be associated with inspiring collaborators such as the GAEA Awards community. We look forward to amplifying our efforts to expand renewable energy access. The Alliance aims to accelerate the scale and speed of financing and partnerships to enable a sustainable future".
The Giving to amplify Earth action (GAEA) Awards recognize groundbreaking partnerships, like GEAPP, that are tackling global climate and nature challenges with innovative, scalable solutions. From over 120 initial nominations, the winners were selected by an expert independent jury comprised of leading experts from across the climate and nature ecosystem. In addition to GEAPP, four other awardees were honored for pioneering, adaptable, impact-driven efforts in science, innovation, business action, and intergenerational leadership.
As an awardee, GEAPP will join the GAEA Awards community, gaining access to a global network that will help raise the Alliance’s profile and mobilize new partnerships. GEAPP will also receive tailored support from the Forum alongside a cross-sector community of experts to scale impact and drive systems-wide change.
Ms. Gim Huay Neo, Managing Director, World Economic Forum, said: “The GAEA Awards recognize institutions and partnerships that are catalyzing transformative change for climate and nature. By showcasing successful innovations and collaborations across industry partners, and between government, business and civil society, we hope to inspire more to step forward and work together to shape a sustainable future for all.”
| The Global energy alliance for people and planet (GEAPP) is an alliance of philanthropy, governments, technology, policy, and financing partners. GEAPP's common mission is to enable emerging and developed economies to shift to a clean energy, pro-growth model that accelerates universal energy access and inclusive economic growth while supporting the global community to meet critical climate goals during the next decade. The Alliance aim to reduce 4 gigatons of future carbon emissions, expand clean energy access to one billion people, and enable 150 million new jobs. With philanthropic partners the IKEA Foundation, The Rockefeller Foundation and Bezos Earth Fund, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyze new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions and assist just transition solutions. |
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