This paper argues for an "energy-poverty alleviation" fund to provide modern energy services to households without energy access. It also proposes an approach for creating such a fund, namely by introducing an incremental levy on petroleum. This scheme does not need global agreement because a levy could be introduced by major oil-exporting countries. This mechanism would result in global reductions in greenhouse gas (GHG) emissions while providing significant socio-economic benefits to the world's poor and aiding in sustainable development.