Mobilising private investments for the implementation of intended nationally determined contributions and low emission development strategies
As of: January 2021
The implementation of the Paris climate targets largely depends on the provision of the necessary financial resources. The project supports the mobilisation of private investments for the implementation of nationally determined contributions and low emission development strategies (LEDS) in the partner countries and advises public and private stakeholders to this end. Climate-friendly investment plans are being developed and existing plans improved in selected sectors. In parallel, the project also addresses investment barriers by supporting partner countries in drawing up political and regulatory frameworks and financial instruments. The conditions for private investment in NDC implementation are improved by reducing investment risk and designing incentive mechanisms. The LEDS Global Partnership also provides a forum for stakeholders to share their learning experiences and replicate successful approaches. /
State of implementation/results
- The Mobilising Investment (MI) project is providing support to unlock investments and integrate Solar Irrigation Pump (SIP) systems with the national grid through the SIP Prioritisation Tool to guide the site selection for new projects. The MI project was showcased in a webinar on “Climate-smart energy development planning: Lessons from Bangladesh” (www.youtube.com/…), held in collaboration with the Asia LEDS Partnership.
- The Investment Roadmap was delivered to the beneficiary in The Ministry of Environment (MINAM), and a workshop was held in which the results of the Roadmap were presented to MINAM and other key stakeholders.
- In response to strong demand from local stakeholders, the Clean Energy Investment Accelerator (CEIA) took a leading role in hosting four high-impact virtual dialogues from May to July 2020, gathering more than 700 stakeholders from financial institutions, private distribution utilities, electric cooperatives, renewable energy (RE) developers, and a major car manufacturing group and its supply chain SMEs. Key government stakeholders included the Philippines Department of Energy, the National Renewable Energy Board, the Climate Change Commission, and the National Electrification Administration. Finally, the MI project is finalising the Investment Mobilisation Roadmap for the Philippines.
- CEIA’s Vietnam experts collaborated with the Philippines team to coordinate a successful virtual dialogue on “Accelerating the Philippines’ Renewable Energy Transition: Emerging Policy Developments & Lessons Learned from Vietnam” with more than 300 participants. The event provided a platform for CEIA Vietnam experts to share perspectives with leading voices from three key energy policy bodies in the Philippines (Energy Regulatory Commission, National Renewable Energy Board, and Department of Energy). Finally, the MI project is finalising the Investment Mobilisation Roadmap.
- The MI project is currently finalising the Investment Mobilisation Roadmap, which focuses on mobilising investment for energy efficiency and clean energy technologies.
- The Ministry of Energy is finalising a Bioenergy Strategy wherein the MI project has played a role in shaping the bioethanol section of the Strategy. This section details out critical recommendations arising from the Bioethanol Masterplan and would contribute towards boosting investor-confidence in the local bioethanol industry. Also, the MI project is currently synthesising the Masterplan and developing knowledge products to support ease of understanding and dissemination to varied audiences, with investors being the primary target.
- The MI project released a mini-grid investment case for a 10-site pilot programme. The MI project has also co-financed the project of the NDC Partnership Climate Action Enhancement Package to develop a funding strategy for the off-grid sector in Ethiopia. The project team has held several stakeholder interviews and created a concept note to use carbon finance in a blended finance stack to cover the funding gap.