CDP and IRENA Sign an Agreement on Renewable Energy in Developing Countries

Abu Dhabi, United Arab Emirates, 21 January 2020 – The International Renewable Energy Agency (IRENA) has signed an agreement with Cassa Depositi e Prestiti (CDP) aimed at fostering joint initiatives to promote the transition to renewable energy in developing countries. The partnership will also seek to improve global access to clean energy and accelerate decarbonisation.

Within the framework of the agreement the two parties will jointly support the implementation of replicable, scalable and transformative renewable energy projects, aimed at realizing the United Nations 2030 Agenda for Sustainable Development.

The partnership seeks to promote renewable energy technologies in 180 countries supporting each country pursue its full renewable energy potential whilst positioning renewables as the key to a sustainable future. CDP is a financial institution that supports international cooperation and invests in developing countries to crowd-in private capital.

“We have entered a decade in which we must pursue sustainable development goals and climate objectives with increased urgency,” said IRENA Director-General Francesco La Camera. “Key to success will be our ability to mobilize the capital necessary to transition the energy system from traditional to renewable sources. Agreements such as this represent a positive step towards these goals and reinforce the investment community’s commitment accelerating the transition.

“It is necessary to have a collective commitment for the achievement of the 2030 United Nations Agenda objectives and, in particular, to foster renewable energy, in view of the global scale of the energy transition," stated Antonella Baldino, Chief CDP International Development Finance Officer. This is the decisive challenge for our generation and the agreement we have signed is an important step towards a sustainable, long lasting and inclusive growth”.