Global Climate Network e-newsletter: NEW REPORT: Investing in Clean Energy - How can developed countries best help developing countries finance climate-friendly energy investments?2010년 11월 2일 (화요일) 오
Global Climate Network e-newsletter: November 2010
Today, the Global Climate Network publishes a brand new report entitled Investing in Clean Energy: How can developed countries best help developing countries finance climate-friendly energy investments?
The report, which is the product of qualitative research carried out in eight GCN member countries, assesses the extent of the finance gap for clean energy in developing countries and the barriers to scaling up private sector investment in low-carbon energy solutions. The study finds that:
A doubling of 2009 investment levels is needed each year on average between now and 2020 just to achieve existing ambitions for selected clean energy sectors in China, India, South Africa and Nigeria.
A critical role of developed countries is providing the up-front finance and guarantees so that private investors feel it is safe and profitable to invest.
A number of debt- and equity-based financial leveraging mechanisms could be supported by developed country funds and mobilised, potentially under the auspices of an international climate fund, as a means to leverage in significant amounts of private capital for clean energy.
Using the mechanisms recommended in this report, every $1 of public finance could leverage up to $10 from the private sector to support clean energy deployment in developing countries.
Kate Gordon, Vice President for Energy and Climate Policy at the Center for American Progress, the Network’s US member said: 'If developed countries hope to fulfill their promises in Copenhagen, they must adopt strategies to use public dollars as a way to leverage private investment into clean energy markets in developing countries. Not only is this the right thing to do, it will also ensure massive growth in these countries' clean energy use, which will bring down the cost of low-carbon technologies the world over.’ Chinese GCN member, Professor Pan Jiahua, Director of the Research Centre for Sustainable Development in Beijing, said: ‘The massive up front costs of shifting to clean energy require that private investors in the world’s major capital markets take the opportunities seriously. For that to happen, financial incentives are쟮eeded for pump-priming to reduce what the private sector still sees as a risky market without enough promise of reward.’ Nick Pearce, Director of the Institute for Public Policy Research, which coordinates the GCN said: ‘In the longer term, we must hope that richer countries recognise it is in their interest to put forward much larger sums to help the developing world to convert to cleaner energy. But in the meantime, the GCN’s study shows how the cash already pledged could be made to work harder to attract private money in. It may seem difficult to argue for more investment by governments at a time of spending cuts, but it will reduce the amount of government money that’s required in future.’
For further information, please contact the Global Climate Network Secretariat: co/ Institute for Public Policy Research • 4th Floor, 14 Buckingham Street • London WC2N 6DF • UK • tel: +44 (0)20 7470 6100 • fax: +44 (0)20 7470 6111 • email: firstname.lastname@example.org
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