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The OPEC Fund has been investing in clean cooking projects since the early 2000s. Over the years, the OPEC Fund has built substantial knowledge and ex- perience in promoting innovative cooking solutions. This expertise has not only shaped its approach to financing and implementing clean cooking initiatives but also positioned the OPEC Fund as a key player in advancing climate and devel- opment goals. The OPEC Fund’s commitment to clean cooking is a critical component of its broad- er strategy to drive climate action, promote sustainable development and support human capital growth across its partner countries. As the OPEC Fund aligns its in- vestments with its Climate Action Plan and the strategic priorities outlined in the Strategic Framework 2030, the approach to clean cooking is designed to deliver impactful and scalable solutions that address pressing global challenges.
ALIGNMENT WITH OPEC FUND’S STRATEGIC FOCUS AREAS
The transition to clean cooking is deeply intertwined with the commitment to achieving the Sustainable Development Goals (SDGs), particularly SDG 7 (Afforda- ble and Clean Energy), SDG 3 (Good Health and Well-being), and SDG 13 (Climate Action). By focusing on clean cooking the OPEC Fund is addressing the nexus of health, energy and climate, contributing to the reduction of carbon emissions, the mitigation of health risks associated with household air pollution and the enhance- ment of energy access for marginalized communities. Driving Climate Action: Clean cooking initiatives are pivotal for the OPEC Fund’s climate strategy. The institution aims to increase its climate finance to at least 25 percent by 2025 and 40 percent of all new financing. Clean cooking solutions are integral to reducing GHG emissions and achieving the climate resilience goals. Building Infrastructure: Infrastructure development is a cornerstone of the clean cooking strategy. The OPEC Fund will focus on supporting the expansion of energy infrastructure such as LPG distribution networks, electrification projects and biofu- el supply chains. These investments are essential for making clean cooking accessi- ble and affordable, particularly in rural and underserved areas. By integrating clean cooking into broader energy infrastructure projects the OPEC Fund will ensure that these solutions contribute to long-term energy security and sustainability.
5. THE OPEC FUND’S APPROACH TO CLEAN COOKING: GOALS FOR THE FUTURE
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