The group’s 20 leading experts come from a wide range of regions and constituencies representing civil society organisations, standard-setting initiatives, private sector coalitions, and intergovernmental bodies.
Rebecca Mikula-Wright, CEO of Asia Investor Group on Climate Change (AIGCC) and Investor Group on Climate Change (IGCC) (Australia/New Zealand) will join the High-Level Consultative Group for the Energy Transition Accelerator (ETA), a collaboration led by the U.S. Department of State, The Rockefeller Foundation, and the Bezos Earth Fund.
At the United Nations Climate Change Conference (COP 27) in November 2022 in Egypt, the three initiative partners first introduced the broad outlines of the ETA, which aims to accelerate private investment in clean power in developing countries.
The ETA aims to:
- help keep a 1.5°C limit on warming within reach by driving private investment in comprehensive energy transition strategies, and to deliver more ambitious, earlier emissions reductions;
- help developing countries achieve and strengthen their nationally determined contributions (NDCs) under the Paris Agreement, and advance broader sustainable development goals, including expanded energy access and poverty alleviation;
- ensure environmental integrity by offering payments only for greenhouse gas emissions reductions that are based on and verified to a robust standard by seeking strong alignment with best practices for the pursuit of global net zero greenhouse gas emissions, including for private sector net zero strategies and the use of carbon credits;
- mobilise climate finance to strengthen adaptation efforts in vulnerable countries
Quotes from Rebecca Mikula-Wright, CEO, Asia Investor Group on Climate Change: “To keep 1.5°C in reach, protecting their citizens and economies, governments must adopt credible targets in this critical decade, starting by setting deadlines for phasing out fossil fuels, accelerate deployment of clean energy, and incentivising decarbonisation across economies.
“Developing and deploying public-private policy approaches would incentivise the early winding down of coal plants and allow for just transition elements to be considered, while also creating new capital flows and investment avenues for renewables.
“Asia is behind in the energy transition but can leapfrog the rest of the world quickly. There is an unprecedented opportunity for developed and developing countries to work together to accelerate financing towards renewable energy projects in Asia.
“The cost of building new solar and wind energy in Asia is now cheaper than building coal and gas capacity, allowing the region to accelerate its net zero transition with the right policy reforms.
“Better cooperation is needed between the energy policy and environmental policy to ensure a stable and transparent regulatory framework for renewables.
“A rapid, orderly and just transition is essential for the prosperity and economic stability that investors, governments, and citizens all want to see.”
On 15 January 2023, the Group U.S. Special Presidential Envoy for Climate John Kerry, Bezos Earth Fund Chief Executive Officer Andrew Steer, and The Rockefeller Foundation Executive Vice President Elizabeth Yee announced the formation of the High-Level Consultative Group at the Atlantic Council Global Energy Forum.