Green Climate Fund focus should be on renewable energy investment
Bochum/Bonn/Freiburg/London/Stockholm, 19 October 2011
– The International Renewable Energy Alliance (REN Alliance) today published a position paper on the Green Climate Fund (GCF)
calling for the fund to focus on renewable energy investment.
Since the UN Climate Change Conference COP15 in Copenhagen, the creation of such a fund is under discussion in order to mitigate climate change and finance mitigation and adaptation activities especially in the developing countries. The discussion on the establishment of the GCF will play a major role at the forthcoming COP17 in Durban/South Africa.
The REN Alliance proposes that the GCF should focus on investment in renewable energy technologies. In particular, the REN Alliance proposes that the Green Climate Fund should:
- Support renewable energy investment in the poorest countries
- Establish a global incentive programme for renewable energy technologies
- Set up appropriate technology support mechanisms such as a Global Feed in Tariff programme for grid-connected technologies
- Create suitable financial support mechanisms such as micro-credit programmes for decentralised off-grid applications
- Introduce new models for further applications in heating/cooling and transportation
- Take into account energy efficiency measures and public education in all aspects of energy use
- Focus on mobilising and leveraging private capital with public funds, seek expansion of public funding sources and work to incentivize private investment
- Collaborate with key players such as the International Renewable Energy Agency (IRENA) and the International Renewable Energy Alliance (REN Alliance)
The REN Alliance sees the creation of the GCF as a significant opportunity to accelerate climate change mitigation and adaption efforts.
The full REN Alliance position paper can be downloaded here.Background: The International Renewable Energy Alliance
The International Renewable Energy Alliance, the REN Alliance, was formed at the time of the Bonn 2004 International Renewable Energy Conference to advance policy and information on renewable energy by providing a combined voice for renewable energy science, technology and practice.
The REN Alliance is uniquely placed in that it represents a partnership of international organizations, representing five principal renewable energy sources: bio, geo, solar, water and wind. The partners of the REN Alliance comprise:
- International Geothermal Association (IGA)
- International Hydropower Association (IHA)
- International Solar Energy Society (ISES)
- World Bioenergy Association (WBA)
- World Wind Energy Association (WWEA)
The REN Alliance partners are UN accredited non-profit, non-governmental organizations, with individual and corporate memberships spanning some 110 countries. All of the partner organizations are committed to advancing the deployment of renewable energy. The REN Alliance bridges the gap between policy and practice by pooling the collective experience and knowledge of the partner organizations. For further information please contact:
Kent Nyström, President, World Bioenergy Association
Tel: +46 70 6768538, Fax: +46 8 email@example.com