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CONCLUSION This report provides an overview of the OPEC Fund’s clean cooking agenda, the progress made, the challenges faced and the most promising options for scaling up investment. It aims to spark dialogue with partner countries as they plan their clean cooking transitions, in addition to contributing to the global body of knowledge on clean cooking.
The OPEC Fund’s approach to clean cooking is grounded in several guiding principles. These include empowering partner countries to lead their initiatives, ensuring that clean cook- ing projects align with broader objectives (poverty reduction, climate action and maintaining fuel and technology neutrality) to offer a range of solutions tailored to the specific needs of different countries. The OPEC Fund also emphasizes inclu- sive development, ensuring that clean cooking solutions are accessible to marginalized communities, particularly women, low-income households and rural populations. To support these efforts, the OPEC Fund will explore sus- tainable financing models, including blended finance, re- sults-based finance and public-private partnerships, to at- tract and mobilize additional resources for clean cooking initiatives. Furthermore, the OPEC Fund is committed to capacity building and knowledge sharing, investing in the skills and expertise of partner countries and stakeholders to strengthen the implementation and impact of clean cooking projects. Through these strategic directions, the OPEC Fund aims to significantly scale up its support for clean cooking, contributing to universal access and advancing global efforts in climate resilience and sustainable development. In alignment with the United Nations Sustainable Develop- ment Goals (SDGs), particularly SDG 7 (Affordable and Clean Energy), the OPEC Fund is committed to supporting the global target of achieving universal access to clean cooking by 2030.
40 % OPEC Fund climate finance target as percentage of all new financing by 2030:
EXECUTIVE SUMMARY
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