HLDE 2021 | Ministerial Thematic ForumsUnlocking Renewable Energy Investments through Project Facilitation
IRENA organised a side event during the Ministerial Thematic Forum on Finance and Investment of the UN High Level Dialogue on 25 June 2021. The event was organised in the form of a panel discussion focused on the example of the Climate Investment Platform (CIP), with participation of CIP founding partners as panellists.
The CIP was launched as a joint initiative by IRENA, UNDP and SEforALL, in close cooperation with the Green Climate Fund for the purpose of mobilising capital towards developing countries to accelerate the scale-up of RE technologies deployment to meet Nationally Determined Contributions (NDCs) targets and achieve compliance with Sustainable Development Goals (SDGs). The CIP aims to support countries and projects in bridging existing gaps when it comes to RE project financing as well as synergise with other initiatives in order to avoid overlap and help accelerate RE deployment across the globe.
In addition to the CIP’s founding partners, IRENA invited a key partner to CIP– GET.invest: a European programme to support investments in decentralised renewable energy, implemented by GIZ, hosted on the multi-donor platform GET.pro, and supported by the European Union, Germany, Sweden, the Netherlands, and Austria. GET.invest had engaged in the discussion around collective efforts of working towards the global energy transition through project facilitation and advisory to access financing, while also addressing the challenges associated with it. The panellists uncovered the inner workings of the CIP and engage in a dialogue of the potential and current impacts of the Platform, while also acknowledging aspects that may need improvement.