A new multi-million dollar initiative to
promote clean energy investment in developing countries has been announced at
the COP21 climate talks in Paris.
The
Global Environment Facility (GEF) will provide $2 million in initial funding to
help kick-start the formation of the ‘Climate Aggregation Platform’ (CAP) in
2016. The CAP is expected to leverage over $100million in co-financing
from different partners, including from the Inter-American Development Bank
(IDB).
The
announcement was made by Naoko Ishii, GEF CEO and Chairperson, during Energy
Day at COP21.
“We need to rapidly
ratchet up financing support for clean energy in developing countries. I’m
delighted to announce the launch of the Climate Aggregation Platform to help
spur strategic and transformative investments and to accelerate energy
efficiency,” he said.
The CAP aims to help build pipelines
of standardised, low-carbon energy assets in developing countries and to
develop low-cost sources of financing for these assets, tapping new and diverse
investor bases.
The
United Nations Development Programme (UNDP), together with the Climate Bonds Initiative
(CBI), will implement the CAP programme. The IDB will be a core partner in
demonstration transactions.
No comments:
Post a Comment