The African Climate Foundation is excited to introduce ReNew2030, a coalition of experts, civil society and philanthropic organisations that will receive funding through The Audacious Project to accelerate the global transition to wind and solar power over the next five years.
Housed at TED, The Audacious Project is a collaborative funding initiative that catalyses social impact on a grand scale. It convenes funders and social entrepreneurs with the goal of supporting bold solutions to the world’s most urgent challenges. ReNew2030 is one of ten projects in The Audacious Project’s 2023 cohort.
ReNew2030 is the new name of a coalition that has worked to advance the energy transition for over a decade. At the heart of ReNew2030 is a network of regional climate foundations and transnational organisations that fund and coordinate a diverse group of implementation partners across the globe. This network includes The African Climate Foundation, Energy Foundation China, U.S. Energy Foundation, The European Climate Foundation, Iniciativa Climática de México, Instituto Clima e Sociedade, The Sunrise Project and Tara Climate Foundation. The European Climate Foundation is hosting ReNew2030 as a collaboration with its peers.
ReNew2030’s goal is to scale global wind and solar capacity 5x by 2030 to keep the world on track for 1.5°C of warming, while improving energy security, creating new jobs and delivering health, climate and economic benefits.
The power sector produces more carbon emissions than any other sector. The International Energy Agency confirms that to keep global warming below 1.5°C, half of all emissions cuts needed by 2030 must come from the power sector. This is technologically and economically feasible: the wind and solar technologies to decarbonise electricity generation at scale already exist and renewable energy is cheaper than fossil fuels almost everywhere in the world. But we are not on track to deliver the renewables scaling that our climate needs, and progress on wind and solar to date is unequally distributed.
The urgency and scale of this complex challenge require a global effort that considers the system as a whole, through a range of strategies that support governments, businesses and society to action. Over the next five years, ReNew2030 will work with new and existing partners on renewables financing, equity in the energy transition and corporate mobilisation, among other critical levers of change, in key geographies across the world.
About The Audacious Project
Launched in April 2018, The Audacious Project is a collaborative funding initiative that is catalyzing social impact on a grand scale. Housed at TED, the nonprofit devoted to Ideas Worth Spreading, and with support from leading social impact advisor The Bridgespan Group, The Audacious Project convenes funders and social entrepreneurs with the goal of supporting bold solutions to the world’s most urgent challenges. The funding collective is made up of respected organizations and individuals in philanthropy, including the Bill & Melinda Gates Foundation, ELMA Philanthropies, MacKenzie Scott, Skoll Foundation, Valhalla Foundation, and more.
Each year The Audacious Project supports a new cohort. The 2023 grantees are CAMFED, Canopy, Clean Slate Initiative, Global Fishing Watch, Innovative Genomics Institute, Jan Sahas’ Migrants Resilience Collaborative, ReNew2030, Restore Local, Think of Us, and Upstream USA.