In this session, we will discuss what it will take to end energy poverty and achieve a just, inclusive clean energy transition. We will start by unpacking the role energy access plays in the pathway out of poverty, and will explore clean energy-powered solutions that both increase income generation and climate resilience for vulnerable communities.
The key takeaways have been compiled for each Imagine Dignity daytime session from statements made by a diverse group of speakers with unique backgrounds and experiences. Acumen hosted these sessions to provide a forum for conversation and debate. The takeaways are for informational purposes only; they do not necessarily represent the views or opinions of Acumen nor constitute an endorsement by Acumen.
There is an intrinsic connection between energy and poverty in our modern society. For the first time in human history, the wholesale switch away from fossil fuels that powered industrialization means emissions and economic growth are increasingly decoupled in the developed world. We see an enormous opportunity for cost-competitive renewable energy to power economic growth in the developing world, but we need to channel financing and resources there.
Energy not only provides lighting to people living in poverty, but it can also increase incomes and improve livelihoods. S4S Technologies is an example of a company using solar-power technology, combined with the right access to finance, quality control and market linkages, to improve the lives of women smallholder farmers and 1200 microentrepreneurs.
An inclusive clean energy transition means starting with the 733 million people that are currently living without access to electricity. By 2030, 9 out of 10 people that do not have energy access will live in sub-Saharan Africa. The off-grid solar sector has made impressive progress over the past 15 years, delivering electricity to 490 million people. We have the blueprints and know what to do to activate the remaining underserved markets.
People without access to electricity have contributed the least to climate change, yet are disproportionately vulnerable to its impacts. This is a climate injustice that off-grid solar products developed by social entrepreneurs can address. Companies like Biolite are leveraging climate finance and the carbon markets to extend the reach of off-grid energy solutions, but we need to bolster the evidence around its potential for boosting climate resilience.
Per Heggenes is the CEO of IKEA Foundation, the philanthropic arm of Stichting INGKA Foundation, the owner of the Swedish home furnishings company IKEA. Since becoming the Foundation’s first CEO in 2009, Heggenes has presided over the Foundation’s evolution into a global, independent, strategic philanthropy with a laser focus on fighting climate change and improving the livelihoods of people living in poverty. In 2019, Heggenes was appointed by the UN Secretary General to join the High-Level Panel on Internal Displacement to develop durable solutions to protracted internal displacement.
Jacqueline Novogratz is the Founder and CEO of Acumen and a recognized leader in the social impact sector. As a pioneer of impact investing, Acumen has invested $146+ million of patient capital into 151 companies, affecting the lives of 400 million people across the world. She’s the best-selling author of The Blue Sweater and Manifesto for a Moral Revolution: Practices to Build a Better World, and was named one of the Top 100 Global Thinkers by Foreign Policy, one of the 25 Smartest People of the Decade by the Daily Beast, and one of the world’s 100 Greatest Living Business Minds by Forbes.
Jonathan Cedar is CEO and co-founder of BioLite, a social enterprise that develops and manufactures clean, affordable energy systems for off-grid communities. BioLite follows a model of “parallel innovation” in which it funds the one-time market establishment costs for its emerging markets by reinvesting revenue from sales in US and European recreation markets. In 2011, Business Week named Jonathan one of America’s Top Social Entrepreneurs, and together with BioLite he has won numerous awards such as the Tech Awards, Fast Company Innovation By Design Awards, and St. Andrews Prize for the Environment.
Nidhi is co-founder of Science For Society - S4S Technologies, an organization that helps farmers earn extra income by converting farm losses to value added products with its patented UN award winning solar dehydration technology and market linkage. S4S is working with over 30,000 smallholder farmers and 1100 women micro-entrepreneurs. By limiting food waste, the organization is reducing methane in the environment and moving toward a carbon-neutral food system. Nidhi holds a bachelor's in Chemical Technology from Institute of Chemical Technology.
Jiwoo Choi is Acumen’s Chief of Acumen’s Strategic Initiatives and Investment Director of Hardest-to-Reach. Jiwoo has 20+ years of experience in investment and risk management across a whole suit of structured finance, project finance and corporate finance transactions. Her core area of expertise is climate finance in Emerging Markets, Prior to joining Acumen, Jiwoo served as Chief Risk Officer of Dubai Green Fund –Dubai’s new sovereign fund dedicated for green investments– and led the Green Climate Fund’s Private Sector Facility.
Amar Inamdar is the Managing Director of KawiSafi Ventures – a private investment fund that is focused on energy access in Africa. Amar brings over 25 years private sector experience of building markets and businesses in emerging economies. Prior to leading KawiSafi, he managed a global investment portfolio of high-risk, high-impact projects for 10 years at the International Finance Corporation and the World Bank before joining the new business team at Royal Dutch Shell to drive growth in domestic African energy markets.
Sarah Bieber is Head of Energy Partnerships at Acumen, where she cultivates Acumen’s relationships with global corporations, foundations and governments that want to invest in pioneering enterprises and financial vehicles to advance the energy access sector. Prior to joining Acumen in 2018, Sarah spent seven years as a foreign service officer for the US Agency for International Development (USAID) in Bangkok and Washington, DC. She most recently led a global partnership to mobilize public- and private-sector investment in off-grid solar solutions in sub-Saharan Africa.
