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Woochong Um, CEO of The Global Energy Alliance for People and Planet (GEAPP), recently spoke with Foreign Policy’s Andrew Sollinger at the FP Energy Forum, sharing a profound perspective on mobilizing capital to support a sustainable, resilient transition to net zero. Reflecting on his transition from development finance at the Asian Development Bank to the Global Energy Alliance, Woochong discussed how essential private capital is to global climate efforts. While multilateral development banks and philanthropies play pivotal roles, private sector funding remains largely concentrated in developed markets, leaving significant investment gaps in developing regions where energy access is most urgently needed. Woochong illustrated the risks: without access to renewable solutions, millions of people—particularly in Africa, where 300-600 million remain without electricity—might turn to fossil fuels, endangering global climate progress. Highlighting efforts to bridge this gap, Woochong described several strategic projects the Alliance is championing. In India, for instance, they’ve navigated complex regulatory challenges to secure approval for energy storage integration, opening up new opportunities for battery storage deployment. Meanwhile, they’re working with the ADB and the Indonesian government to accelerate the early retirement of coal plants, aligning these transitions with long-term sustainability goals. Woochong expressed cautious optimism, noting the private sector’s growing focus on solutions rather than problems. #ClimateAction #EnergyTransition #SustainableDevelopment #PrivateCapital #Mission300 #ClimateWeekNYC #Runh

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