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Reforming Climate and Development Finance for Clean Cooking

Author

Listed:
  • Olivia Coldrey

    (Energy & Poverty Research Group, School of Chemical Engineering, The University of Queensland, St Lucia, QLD 4072, Australia
    International Institute for Applied Systems Analysis (IIASA), A-2361 Laxenburg, Austria)

  • Paul Lant

    (Energy & Poverty Research Group, School of Chemical Engineering, The University of Queensland, St Lucia, QLD 4072, Australia)

  • Peta Ashworth

    (Institute for Energy Transition, Curtin University, Bentley, WA 6102, Australia)

  • Philip LaRocco

    (School of International and Public Affairs and School of Professional Studies, Columbia University of the City of New York, 116th and Broadway, New York, NY 10027, USA)

  • Christine Eibs Singer

    (Catalyst Energy Advisors, 1935 Addison St, Suite A, Berkeley, CA 94704, USA)

Abstract

A transition to clean fuels and technology for cooking is increasingly recognised as a cornerstone of sustainable development. However, sufficient, appropriate, affordable finance to support the transition is lacking. Grounded in primary data collection via expert interviews, this study’s research objective was to critically assess development finance institutions’ (DFIs) delivery of climate and development finance to address cooking poverty. Interview findings underscore DFIs’ important role in the transition, including to create the ecosystem conditions conducive to sustained investment. However, as a group they are not demonstrating the risk appetite and financial solutions that clean cooking markets need. Nor are they operating with the agility and flexibility required for rapid scale-up. Consequently, DFIs are not optimally fulfilling their mandates to create additionality and mobilise private capital in these markets. Interviewees call for DFIs to reconsider their approach, and we rely on these findings to posit a theory of change for clean cooking finance.

Suggested Citation

  • Olivia Coldrey & Paul Lant & Peta Ashworth & Philip LaRocco & Christine Eibs Singer, 2024. "Reforming Climate and Development Finance for Clean Cooking," Energies, MDPI, vol. 17(15), pages 1-21, July.
    • Handle: RePEc:gam:jeners:v:17:y:2024:i:15:p:3720-:d:1444710
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    References listed on IDEAS

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    1. Helen Hoka Osiolo & Hanaan Marwah & Matthew Leach, 2023. "The Emergence of Large-Scale Bioethanol Utilities: Accelerating Energy Transitions for Cooking," Energies, MDPI, vol. 16(17), pages 1-20, August.
    2. Vijaya Ramachandran, 2022. "Blanket bans on fossil fuels hurt women and lower-income countries," Nature, Nature, vol. 607(7917), pages 9-9, July.
    3. Susann Stritzke & Malcolm Bricknell & Matthew Leach & Samir Thapa & Yesmeen Khalifa & Ed Brown, 2023. "Impact Financing for Clean Cooking Energy Transitions: Reviews and Prospects," Energies, MDPI, vol. 16(16), pages 1-26, August.
    4. Olivia Coldrey & Paul Lant & Peta Ashworth, 2023. "Elucidating Finance Gaps through the Clean Cooking Value Chain," Sustainability, MDPI, vol. 15(4), pages 1-21, February.
    5. Susann Stritzke & Carlos Sakyi-Nyarko & Iwona Bisaga & Malcolm Bricknell & Jon Leary & Edward Brown, 2021. "Results-Based Financing (RBF) for Modern Energy Cooking Solutions: An Effective Driver for Innovation and Scale?," Energies, MDPI, vol. 14(15), pages 1-39, July.
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