And that's exactly what U.S. Department of Energy (DoE) Secretary Steven Chu unveiled here Monday at the United Nations' summit on climate change: the Climate Renewables and Efficiency Deployment Initiative (Climate REDI)—a $350-million investment by major economies, including $85 million from the U.S., to bring everything from efficient refrigerators to solar lanterns to the developing world.
"The energy savings from refrigerators is greater than all U.S. renewable energy generation—all the wind, solar thermal and solar photovoltaics —just the refrigerators," Chu said in a speech announcing the initiative, noting the refrigerators also cost less. "Energy efficiency is truly a case where you can have your cake and eat it too. [But] it was driven by standards; it didn't happen on its own."In addition to coordinating global standards for efficient appliances, Climate REDI will also invest in further developing renewable energy sources—such as wind and solar power—in the developing world. The initiative will fund the deployment of "affordable home systems and LED lanterns to those without access to electricity," according to a program fact sheet.
"We want to help turn the lights on where people live but also in a way that helps solve climate change," Chu said, referring to the at least 1 billion people who lack access to electricity globally.Jairam Ramesh, India's minister of the environment, welcomed the effort and called for his country to be one of the recipients. But he also noted that "Indian companies have been pioneers in low-cost pharmaceuticals now being widely used in Africa. I see no reason why Indian companies in the next five or six years with the help of American counterparts cannot emerge as world leaders in renewable energy technology.
Photo: U.S. Department of Energy (DoE) Secretary Steven Chu.
On the eve of the UN climate change conference in Copenhagen, the Business Innovation to Fight Climate Change and Poverty focussed on business innovations for the global South that help mitigate climate change and its impact on the poor. What types of innovative models are emerging? How can these be brought to scale? What is the role of governments and donors to encourage innovation?
The event was sponsored by the United Nations Development Programme’s (UNDP) Growing Inclusive Markets initiative (GIM), and co-hosted by Business Fights Poverty, the Overseas Development Institute, the International Business Leaders Forum (IBLF) and the World Business Council for Sustainable Development.
Interview of Jeroen Blum, Deputy Director, Shell Foundation who take part in the panel discussion.