The case for a clean cooking green bank

The socio-economic and climate benefits of a transition to clean fuels and technology for cooking are gaining prominence on the global policy agenda. However, investment volumes fall critically short of those required to achieve Sustainable Development Goal 7's universal clean cooking access target, while available forms of finance often do not match demand. We investigated the value in creating a specialised public bank, modelled on green state investment banks, to address the clean cooking investment challenge. In so doing, we introduced the green bank concept to the academic literature on clean cooking and provided original data and analysis. Expert interviews revealed a desire for public banks to assume greater risk in their financing activities in clean cooking markets, and to adopt a broader array of financial instruments and structures. Interviewees also recommended that public banks act as pathfinders and first movers in these markets, play a more prominent role in market building, and educate and organise the aggregate funding group. These attributes displayed notable similarities with the roles historically undertaken by green banks. Our findings suggested that a dedicated public bank for clean cooking, modelled on green banks, would be additional to the sector and potentially play a catalytic role in leveraging private investment.