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Investor platform bids to accelerate action for low carbon world

By “decluttering and streamlining” support to developing countries, the platform aims to accelerate action and advance climate investment in developing countries.

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The platform aims to scale-up climate action and translate targets into concrete investment
The platform aims to scale-up climate action and translate targets into concrete investment

A new investment platform that aims to increase the flow of capital in developing countries to meet climate ambitions has been announced.

 

The Climate Investment Platform (CIP) seeks to welcome stakeholders from governments and international organisations to the private sector to scale-up climate action and translate national climate targets into concrete investments on the ground.

 

Cities and infrastructure

 

With energy accounting for two thirds of total greenhouse gas emissions, the platform’s first service line is dedicated to the global transition to clean energy. Other service lines, such as adaptation, land use, cities and infrastructure will be introduced in the first quarter of 2020.

 

By “decluttering and streamlining” support to developing countries, the platform aims to accelerate action and advance climate investment in developing countries.

 

“The Climate Investment Platform is a crucial initiative that will simplify access to climate finance. It will catalyse investment for mitigation and adaptation in developing countries, supporting those most in need of climate action,” said Yannick Glemarec, executive director, Green Climate Fund, a partner organisation in the initiative.

“The evidence is clear that global investment is dramatically off track to meet universal access to energy by 2030”

The service offered by the CIP covers four key building blocks along the climate finance value-chain: supporting governments to specify ambitious energy targets and scale up their nationally determined contributions (NDCs); establishing well-designed, implemented and enforced clean energy policies and regulations; financial de-risking of energy projects; and a marketplace to connect clean energy investors and project sponsors.

 

“The evidence is clear that global investment is dramatically off track to meet universal access to energy by 2030,” added Rachel Kyte, CEO and special representative of the UN secretary-general for Sustainable Energy for All.

 

“The Climate Investment Platform will help bridge the gap between supply and demand to accelerate capital and scale up climate resilient investments, allowing countries to raise their climate targets and develop policy environments that allow investment to flow.”

 

The Green Climate Fund is a global fund set up by the 194 countries which are party to the United Nations Framework Convention on Climate Change in 2010, as part of the convention’s financial mechanism, created to support the efforts of developing countries to respond to the challenge of climate change.

 

GCF bids to help developing countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change.

 

Sustainable Energy for All ‘empowers’ leaders to broker partnerships and unlock finance to achieve universal access to sustainable energy, as a “contribution to a cleaner, just and prosperous world for all”.

 

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