15th Nov 2024 09:54
(Alliance News) - Big energy companies TotalEnergies SE, BP PLC, Equinor ASA, and Shell PLC have jointly pledged to invest in initiatives aligned with the United Nations Sustainable Development Goal 7.
The project focuses on ensuring access to affordable, reliable, sustainable, and modern energy for all.
The four energy titans are activating a new initiative to drive high-impact local projects that will help achieve the initiative's goals by 2030.
With a combined USD500 million in committed capital, the investment will focus on promising projects, primarily in Sub-Saharan Africa, South Asia, and South-East Asia, designed to provide underserved communities with access to electricity and improved cooking solutions, TotalEnergies said in a statement.
The funding will target a wide range of solutions, including solar home systems, mini/metro grids, clean cooking technologies, and enabling innovations like e-mobility, energy storage, and management systems.
This initiative not only aims to support the UN project but also has the potential to deliver co-benefits such as job creation and better health outcomes in the regions served.
Shell shares were up 0.9% at 2,554.50 pence each on Friday morning in London, BP shares rose 0.8% to 382.37p each and TotalEnergies shares were 0.5% higher at EUR57.45 each in Paris.
source: dpa
Copyright 2024 Alliance News Ltd. All Rights Reserved.