The PowerOneforOne Foundation covers the non-profit part of Power One for One. It will be established to address energy poverty as one of the core causes for poverty in less developed countries.
What is the major obstacle to sustainable development?
Poverty is one of the biggest obstacles for sustainable development. Especially energy is a fundamental requirement for development and one of the most influential drivers for poverty reduction in developing countries. Energy poverty is characterised as the absence of sufficient choice in accessing adequate, affordable, reliable, safe, and environmentally friendly energy services to support economic and human development. Many parts of the world still suffer from energy poverty; women and children in less developed countries are typically the most vulnerable ones.
Still 1.2 billion people are without access to electricity!
The Foundation will aim to significantly transform the lives of the most vulnerable ones and give them access to electricity to fight energy poverty – one of the worst forms of poverty. Lack of electricity has a strong impact on everyday life activities such as cooking or education – it is a necessity. There is a significant connection between per capita electricity consumption and human development. Together with the widening gap between supply and demand for electricity in less developed countries, there is no doubt that action is needed!
The Foundation’s objective is to alleviate this type of poverty by offering an affordable solution that makes renewable energy sources available to low-income communities. By facilitating the access to energy with solar home systems to households in remote communities, we will enable access to a source of reliable and clean energy. Simultaneously, the Foundation promotes the shift towards a greener and cleaner society, while at the same time improving rural people’s livelihoods with access to energy.
The Foundation will light the spark. With access to electricity, we will initiate a necassary development. Children have more time to read, to study, as well as for family activities which positively impact their literacy rates and general well-being. This is fundamental for developing better skills and increasing chances for future employment. In addition, we believe that facilitating access to energy is not only a necessity for personal development, but also a fundamental step to creating a self-sustaining economy.
How it works
The PowerOneforOne Foundation is a separate entity in the Power One for One group. In order to make the Foundation financially strong and independent we created the Invest & Empower model.
The Foundation receives financial contributions from: voluntary support from our investors invested in the Climate Change Emerging Market Fund, the returns generated by the solar home systems, and donations, as well as from Power One for One.
This approach is designed to secure the Foundation and makes it independent of donations only by creating a growing and self-sustaining model to fullfil our mission – access to energy for millions of people.
Sustainable Development Goals
The Foundation’s initiative is aligned with the agenda of the United Nations Sustainable Development Goals. The 17 Goals were formulated by the United Nations with the aim to end poverty, protect the planet, and ensure prosperity for all until 2030.
With the Foundation, we support 5 of the Sustainable Development goals:
SDG 3: Good Health and Well-being
Ensure healthy lives and promote well-being for all at all ages.
SDG 4: Quality Education
Ensure inclusive and equitable quality education and promote lifelong learning
opportunities for all.
SDG 7: Affordable and Clean Energy
Ensure access to affordable, reliable, sustainable, and modern energy for all.
SDG 13: Climate Action
Take urgent action to combat climate change and its impacts.
SDG 17: Partnerships for the goals
Strengthen the means of implementation and revitalise the global partnership for sustainable development.
Our vision is to break the vicious cycle of energy poverty to offer affected people the chance for a better life.