IRENA Calls for Financing to Scale Clean Cooking Solutions

The International Renewable Energy Agency (IRENA) has highlighted the urgent need for affordable finance and a pragmatic approach to scale clean cooking solutions, as 900 million residents in Sub-Saharan Africa, particularly women and children, face health risks from household air pollution. IRENA's 16th assembly underscored the necessity of mobilizing approximately $8 billion annually by 2030 to bridge the significant gap in access to clean cooking solutions.

Ms. Gauri Singh, IRENA's Deputy Director-General, emphasized exploring diverse financing sources, including domestic and external funds like grants and concessional loans. However, challenges such as high interest rates and a lack of bankable projects hinder the mobilization of funds.

A new report from IRENA presents primary data on clean cooking investments in the Global South from 2022 to 2024, revealing the need for cohesive assessments of international financing flows. The report also stresses the importance of addressing the reliance on charcoal as a primary cooking fuel for 157 million people in Sub-Saharan Africa, advocating for innovative investments in modern charcoal products.