7 December 2011 – Durban/London

Green Climate Fund could greatly accelerate climate change mitigation and adaptation through renewables

The potential of the Green Climate Fund to significantly accelerate climate change mitigation and adaptation efforts in developing countries through renewables was highlighted today by the International Renewable Energy Alliance (REN Alliance) during a side event at the UN Climate Change Conference (COP17) in Durban.

The event entitled: Renewables Working Together: New Financing Schemes in Developing Countries – the Green Climate Fund, provided insights into ways to lever further financing for renewable energy off the Green Climate Fund. The potential of funding mechanisms, such as the Special Drawing Rights of the IMF, as a possible source of funding to raise the required $100 billion to establish the Green Climate Fund, was also emphasized.

“The creation of the Green Climate Fund is a significant opportunity to accelerate climate change mitigation and adaptation efforts in developing countries. The Fund should accentuate direct investment in renewable energy technologies, such as solar, wind, hydropower, biomass and geothermal, which can all make effective and sustainable contributions in the long and short term.” said Cameron Ironside, Programme Director, International Hydropower Association.

“But it’s important that the success of Green Climate Fund programmes be measured in terms of emission-free energy and sustainable output of the solutions throughout their life cycles.” he continued.

Mr Ironside was joined by Steve Blume, Board Director of the International Solar Energy Society, and Kent Nyström, President of the World Bioenergy Association, as panellists in the session.

Key note presentations were given by Stefan Gsänger, Secretary General of the World Wind Energy Association and Stefan Schurig, Director Climate Energy of the World Future Council.

“The Green Climate Fund should provide well-designed and effective ways for developing countries to finance tool such as global feed-in tariff programmes for grid-connected technologies, micro-credit programmes for decentralised off-grid applications, and complementary mechanisms to ensure both centralised and decentralized integration of renewables.” Mr Ironside commented.

IHA, as part of the REN Alliance, is actively participating in the Conference to ensure that the climate change negotiations fully acknowledge the fundamental role of renewable energies in achieving climate change and sustainable development targets.

The 17th Conference of the Parties (COP17) to the United Nations Framework Convention on Climate Change (UNFCCC) is taking place in Durban, 28 November to 9 December. It represents an opportunity for world decision-makers to make positive steps towards addressing the interrelated challenges of climate change, poverty reduction and sustainable development.

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