The Rockefeller Foundation Commits USD$1 billion to Catalyze a Green Recovery from Pandemic

COVID-19 – “Green Recovery

The Rockefeller Foundation Commits USD$1 billion to Catalyze a Green Recovery from Pandemic
10.26.20 Press Release
:: Driving public-private investment, transformative solutions, and a more inclusive, sustainable future
:: Launching next chapter for the 107-year old philanthropic institution

October 26, 2020 | NEW YORK – The Rockefeller Foundation will commit USD1 billion over the next three years to catalyze a more inclusive, green recovery from the Covid-19 pandemic. Building on current efforts and long-standing programs, the Foundation will focus on two key areas: catalyzing billions of dollars in private and concessional investments to scale distributed renewable energy across developing countries; and ensuring more equitable access to Covid-19 tests and vaccines, science-based tools, and data to fight the pandemic, while strengthening public health systems to prevent future outbreaks. In addition to this unique, one-time commitment of additional resources, The Rockefeller Foundation’s efforts and energies, as a whole, will be rededicated and reoriented toward improving the lives of the world’s poorest people and addressing inequities made worse by this virus.

“There’s no going back to the past, to before-Covid. We need to reimagine the future we want,” said Dr. Rajiv J. Shah, President of the Rockefeller Foundation. “To meet this moment, we must leverage all our resources and relationships to build an equitable, sustainable future, where everyone has the opportunity to realize their full potential and climate disaster is avoided. The time to act is right now to make sure vulnerable children and families are included in the pandemic response and recovery.”

Prior to the pandemic, half the world’s population lacked access to essential health services, and more than 800 million people worldwide lacked access to electricity. Billions more have their potential diminished by unreliable or insufficient energy access, predominantly provided by carbon-emitting fuels. The energy accessibility gap has further widened because of the pandemic. This year alone, more than 100 million people have seen their electricity access severed because they couldn’t pay their bills during the pandemic, with the toll falling disproportionately on the poor and most vulnerable. The World Bank also estimates that the combined impact of climate change and the damage done by Covid-19 will push 132 million people into poverty.

This calls for bold action to address these disparities and ensure a global response that assures a more inclusive, sustainable future for all…

… Collaborating with global investors, international organizations, and governments, the Foundation will focus on driving historic public-private investment in infrastructure that accelerates access to clean, safe, and reliable renewable energy across Africa, Asia, and Latin America…

About The Rockefeller Foundation
The Rockefeller Foundation advances new frontiers of science, data, and innovation to solve global challenges related to health, food, power, and economic mobility. As a science-driven philanthropy focused on building collaborative relationships with partners and grantees, The Rockefeller Foundation seeks to inspire and foster large-scale human impact that promotes the well-being of humanity throughout the world by identifying and accelerating breakthrough solutions, ideas, and conversations.