Philanthropists back justice for workers in green energy deals

(Context, 6 Oct 2023) IKEA Foundation launches an energy transition scheme to help communities reliant on fossil fuels find green jobs and incomes.

Philanthropists are stepping in to ensure vulnerable workers and their communities are not left behind when developing nations agree multi-billion-dollar climate deals to shutter fossil-fuel power plants and ramp up green energy investments.

Last year, Vietnam and Indonesia joined South Africa in clinching a "just energy transition partnership" (JETP) - a funding package from wealthy governments and banks to help emerging economies phase out coal while creating green jobs - followed by Senegal this June.

As governments and banks grapple with how the promised finance will be delivered and spent, philanthropic donors are looking for ways to help communities now reliant on fossil fuels make the most of opportunities from a renewable energy roll-out.

IKEA Foundation in September launched a four-year, $20-million scheme that aims to help make energy transitions in Indonesia, South Africa and Vietnam fair and benefit communities - which it hopes other charitable organisations will join.

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Context, 6 Oct 2023: Philanthropists back justice for workers in green energy deals