The Green Climate Fund and Renewable energy: implementation and funding.

The WBA will be attending the UN Climate Change Conference (COP 17) on the 7th of December as a member of the REN Alliance.

The organizers see the creation of the GCF as a significant opportunity to accelerate climate change mitigation and adaptation efforts.

The GCF should emphasize direct investment in renewable energy technologies (i.e. solar, wind, hydropower, biomass, and geothermal) and supporting infrastructure, which can make effective and sustainable contributions both in the short and long term.

The success of GCF Programmes must be measured in terms of emission-free energy and sustainable output of the deployed solutions throughout their life cycles. Careful monitoring of GCF projects to ensure effective use of funds to achieve the desired outcomes is essential.

The Green Climate Fund (GCF) should facilitate funding to developing countries to drive: Global Feed-in Tariff Programmes for Grid-connected Technologies – Micro-Credit Programmes for Decentralised Off-Grid Applications – Complementary mechanisms to ensure renewable integration.

This side event will discuss implementation and challenges of the GCF and will demonstrate potential funding mechanisms such as Special Drawing Rights of the IMF, which can be used as a source of funding to raise the necessary $100 billion immediately for a renewable energy transition without an inflationary impact.

Invitation.