June 21, 2012, Cambridge UK: Eight19 welcomes the news today from the United Nations Secretary-General Ban Ki-moon that businesses and investors have committed more than $50 billion to achieve the three objectives of the Sustainable Energy for All Initiative: ensure universal access to modern energy services, double the global rate of improvement of energy efficiency, and double the share of renewable energy in the global energy mix.
More than one hundred commitments and actions have been mobilized in support of and over 50 countries engaged in the initiative which brings together governments, businesses and civil society groups in an unprecedented effort to help make the world’s energy systems more accessible, efficient and cleaner.
UN Secretary-General Ban Ki-moon said: “Achieving sustainable energy for all is not only possible, but necessary – it is the golden thread that connects development, social inclusion and environmental protection,” and emphasised how the initiative demonstrates the “power of partnership and ability of the United Nations to spearhead transformational change."
Eight19’s Indigo pay-as-you-go solar solution is already having a transformational impact on the lives of families in Kenya, Malawi, Zambia and South Sudan. Indigo has been highlighted as a high-impact opportunity by the Sustainable Energy for All initiative, based on its significance and ability to make an immediate impact towards reaching Sustainable Energy for All's three objectives.
Last month, Eight19 and a group of the world’s leading off-grid clean energy entrepreneurs sent a letter to the World Bank Group to secure up to $500 million to de-risk off-grid clean energy investments at the Rio+20 conference. On Friday 22 June, Eight19's CEO Simon Bransfield-Garth will join a high-level panel to push for unlocking investment in emerging markets. The topic “1 Billion Reasons to Deliver Clean Energy Access for the Poor” will bring together some of the world’s leading off-grid social entrepreneurs to continue to seek increased financial commitments for the sector including $500 million from the World Bank. The scaling up of private sector energy projects could be achieved by increased availability of loan finance. Bank of America Chairman Chad Holliday, noted the need for a “project by project” approach to delivering energy access.
Eight19’s CEO, Simon Bransfield-Garth commented: “The commitment today of over $50Bn of investment to accelerate the deployment of energy for all is a tremendous step towards achieving the 2030 UN goals for universal energy access. Eight19 is delighted to be playing its small part in helping bring this transformation about”.