Climate Investment Platform

Vision

Global efforts to reduce and mitigate climate change will require significant changes in the way energy is produced and consumed. A shift towards renewable energy sources and improvements in energy efficiency are the key components of energy transition.

Current Nationally Determined Contributions (NDCs) recognise the need to invest in renewables and energy efficiency, but relatively few are linked to an assessment of available options that result in a comprehensive action plan.

As a result, about half of the first NDCs presented by countries do not include specific and quantified energy targets or actionable work-plans and many of those that do are quite limited in scope and ambition. In total, these currently expressed commitments in the energy sector are nowhere near adequate to put the World on a course that will meet the goals of the Paris Agreement.

Track 1 of the CIP will address some of the shortcomings in the first round of NDCs by helping countries articulate their energy targets more clearly and reduce emissions from the energy sector.

Activities will include helping countries gather and analyse energy data, with the aim to develop viable investment plans that result in emissions reduction.

” The end-result will be the development of clearer energy targets with actionable work-plans and systems for monitoring and evaluating progress in the countries requesting assistance from this Track.”

Strategy

Track 1 of the CIP will operate at two levels.

At a global and regional level, it will collect and analyse data about energy targets and facilitate the delivery of technical assistance and advice to countries about setting and monitoring targets.

At a country level, it will provide more in-depth assistance on these topics as well as support for the analysis of opportunities to increase ambition.

“Track 1 of the CIP will address some of the shortcomings in the first round of NDCs by helping countries to articulate their energy targets more clearly and raise their ambition with respect to reducing emissions from the energy sector.”

Services

Activities of this track will include the creation of a global database of energy targets and analysis of trends and developments. Data will be used to monitor progress towards the goals of The Paris Agreement with respect to the energy sector.

The track will further create knowledge products such as technical guidance on targets setting, monitoring and reporting, including guidance about how to collect and analyse energy data for the purpose of setting and monitoring energy and climate change targets. This knowledge will be transferred to countries through regional training events and in collaboration with others working on capacity building in the energy sector.

At the country level, the Track will help selected countries to develop their energy targets and integrate them into their NDCs as well as raise ambitions where feasible. This support could include: assessments of data gaps; advice on data collection and measurement; and help to manage and process energy data for the purpose of developing NDCs and investment plans.

With respect to raising ambitions, the Track will provide services to help countries review their current targets, assess the potential to raise ambitions and develop strategies to achieve those ambitions. The types of support provided will be based on each country’s needs, but could include: identifying areas where the use of renewables and energy efficiency could be increased; cost-benefit or economic-impact analysis of raised ambitions; and the development of plans, strategies and investment programmes to meet ambitions.

Track 1 will deliver hands-on technical assistance to help countries formulate clean energy targets that translate into viable investment plans”