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Business News of Wednesday, 12 October 2022

Source: thenationonlineng.net

2.4b people live without access to clean cooking - UNCDF

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No fewer than 2.4 billion people live without access to clean cooking, which costs the world more than $2.4 trillion in damage to the climate and local economies and contributes to 3.2 million premature deaths yearly, UN Capital Development Fund (UNCDF) and Clean Clean Cooking Alliance (CCA) have said.

UNCDF and CCA yesterday launched a partnership to promote financial innovation and investment to deliver greater levels of finance to clean cooking solutions. Both organisations will focus in particular on markets in Africa and Asia, where the need for clean cooking is particularly acute.

The partnership was formalised between representatives of CCA, which is hosted by the UN Foundation, and UNCDF during the Clean Cooking Forum. The organisations noted that funding levels for clean cooking solutions has hovered around $130 million, a fraction of the $10 billion required yearly to ensure access to clean cooking.