John,

This week at the Sustainable Energy for All Forum in Kigali, Rwanda, Mike announced a $242 million initiative to help 10 developing nations power their futures with clean and renewable energy.

"The investment is part of Mr. Bloomberg's push, announced last year, to shut down coal production in 25 countries and builds on his $500 million campaign to close every coal-fired power plant in the United States."

"Michael Bloomberg Plans a $242 Million
Investment in Clean Energy"
New York Times

The investments will add 10 new countries to our existing clean energy work in seven countries and the European Union. We're building on our previous efforts to move the world away from coal and accelerate a global clean energy transition.

"We've seen that it's possible to increase access to affordable power, improve public health, and fight climate change all at the same time -- and to make progress quickly in each area," said Mike. "We have to spread that success around the world, especially in developing countries that have contributed the least to the climate crisis but are facing the most severe effects."

By ramping up solar, wind, and other renewables, we can end reliance on fossil fuels around the world.

The investments will allow African countries and countries around the world to power homes, schools, hospitals, businesses and more with energy resources that are cheaper and cleaner than fossil fuels.

Mike and Damilola Ogunbiyi, the CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy, share why in their op-ed "Realizing Africa's Sustainable Energy Future."

Africa "has rich solar- and wind-energy potential and has made great progress using other renewable sources, including hydro, geothermal, and biofuels. But without international support, including investments at scale, African countries will not be able to expand energy access to all and still reach their climate goals."

Thanks,

Bloomberg Philanthropies