The African Development Bank (AfDB) recently announced that it will allocate approximately $2 billion over the next decade to advance clean cooking technologies and fuels. This funding represents 20% of the bank’s annual energy spending, according to Bloomberg. This commitment, which marks the largest amount pledged at a single event for clean cooking, follows the AfDB’s recent commitments at COP28.
The summit was the first-ever high-level summit that highlighted a strategic framework to promote the universal adoption of clean cooking solutions across Africa. Currently, cooking with open fires and basic stoves, which utilize charcoal and wood, results in approximately 600,000 deaths annually in Africa, contributes to carbon emissions, and accelerates deforestation. The Sub-Saharan region is the only area globally where access to clean cooking has not kept pace with population growth, impacting nearly a billion people across Africa. The World Bank reports that inaction in this region costs an estimated $330 billion annually due to adverse health and climate effects.
To achieve universal access to clean cooking by 2030, governments, companies, and institutions are partnering to secure $4 billion in capital investments annually. These efforts aim to deploy the necessary stoves and fuel delivery infrastructure throughout Sub-Saharan Africa, improving health, reducing greenhouse gas emissions, and fostering economic growth.