Analysis | Mike Bloomberg pledges to boost clean energy in 15 more countries – The Washington Post

by | Sep 21, 2022 | Energy

Comment on this storyCommentGift ArticleGood morning and welcome to The Climate 202! Today we’re wondering how to correctly pronounce the word “permitting.” On a related note, below, we have an update on legislation from Sen. Joe Manchin III (D-W.Va.) to reform the permitting process for energy projects. But first:Exclusive: Mike Bloomberg pledges to accelerate clean energy transition in 15 more countriesFormer New York mayor Mike Bloomberg on Wednesday will pledge to accelerate the transition to clean energy in an additional 15 developing countries, according to details shared exclusively with The Climate 202 ahead of the official announcement.The commitment comes less than two months before the COP27 climate talks in Egypt, where developing countries are expected to ask wealthy nations for long-overdue funding to help them cope with the ravages of climate change.AdvertisementThe details: The pledge will be unveiled during the United Nations Climate Action: Race to Zero and Resilience Forum in New York City, where world leaders are also gathered for the U.N. General Assembly, as part of a “Countdown to COP27.”Bloomberg Philanthropies will develop programs and partnerships in 15 developing nations where “demand for power is projected to grow rapidly and there is abundant potential for renewable energy such as solar and wind,” according to a news release shared with The Climate 202.The 15 nations are Botswana, Cambodia, the Democratic Republic of Congo, Egypt, Ethiopia, Ghana, Madagascar, Morocco, Mexico, the Philippines, Rwanda, Senegal, Tanzania, Thailand and Uganda.According to data from BloombergNEF, the 15 countries account for nearly 27,637 megawatts of coal power plant capacity and have more than 8,046 megawatts of coal capacity under construction, planned, or permitted. However, in almost all of these markets, wind or solar is the cheapest source of new electricity generation.Bloomberg Philanthropies has already sought to bolster clean energy in 17 countries and the European Union, including the 10 developing countries announced in May at the Sustainable Energy for All Forum in Kigali, Rwanda.At the COP26 climate talks last year in Glasgow, Scotland, Bloomberg also pledged to help shutter or cancel one-quarter of the world’s coal plant capacity.“Since last year’s U.N. climate conference in Glasgow we’ve made important progress in the battle against climate change — but we’re still not moving nearly fast enough,” Bloomberg said in a statement. “We all need to do more, and with COP27 just around the corner, this is a critical moment to turbocharge our efforts, build momentum for a successful conference, and set the course for faster progress in the months and years ahead,” he added.AdvertisementToday’s announcement does not include a dollar amount for the investm …

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