Small Island Developing States (SIDS) are on the front line of climate change, facing the damage of shrinking coastlines and the ravages of tropical storms. However, these 57 island nations around the world can attempt to address this global challenge by relying on their renewable resources including sunshine, wind, hydropower and biomass. The topic was the subject of multiple events in November at COP23 in Bonn, Germany.
Momentum is building in the private sector for climate resilience financing. This necessary acceleration could help to avert the worst consequences of climate change. Financiers and others weighed in about their priorities and goals at COP23 in Germany on Nov. 13 in the Bonn Zone. They shared their thoughts and successes from developing pathways for resilience financing.
As world leaders met in Bonn, Germany in November for COP23, the challenge of climate finance projects in developing countries took center stage. A second challenge receives less attention: fewer than 10 percent of development finance from international climate funds reaches the local level. This finding is presented in a paper called “Delivering Real Change: Getting International Climate Finance to the Local Level.” It was published by the International Institute for Environment and Development (IIED), a London-based policy-research group.
Today’s political, economic and social climate have made it increasingly difficult to keep abreast of all that is happening in the realm of renewables. In 0.56 seconds, a Google search for “renewable energy” will return roughly 3 million news headlines. As you peruse the top of the pile, you may be led to believe that the sector is in a downward spiral. But in the same sitting, you may also gain the impression that the industry is better than ever and is essentially unstoppable. In attempt to gain some clarity, Clean Energy Finance Forum interviewed the Head of Americas at Bloomberg New Energy Finance, Ethan Zindler.
Auctions are a rising instrument for deploying climate finance across various sectors, panelists concluded at the Carbon Expo in Cologne, Germany on May 25-27. Using market forces to harness competition, auctions can drive down energy prices and achieve cost-effective emissions reductions.
2016 is a hot year for climate finance. Global Innovation Lab for Climate Finance is seeking to speed up innovation to solve these global challenges. It is engineering new solutions and supporting the development of new finance instruments that unlock private investment for climate-resilient and low-carbon growth in developing countries.
Some of the high points of CEM7, a global clean-energy conference that took place in San Francisco on June 1-2, occurred when speakers took a stand to motivate their audience to accelerate the momentum of the energy transition away from fossil fuels.
In this interview, Lorenzo Bernasconi, senior associate director of innovative finance and impact investing at The Rockefeller Foundation, shared his perspective on the organization’s grant-making strategy around climate solutions.
Many promises were made at the Paris climate conference. But a January report from McKinsey & Company, “Financing Change: How to Mobilize Private Sector Financing for Sustainable Infrastructure,” shows countries without business-enabling environments may see their clean energy goals stall or be delayed. This could potentially compromise many national efforts.