Climate Investment Platform: Facilitating Energy Transition for Green Recovery Through Emerging Models of Climate Finance

On 16 September 2020, the Denmark and Ethiopia permanent missions to the UN hosted a high-level discussion on how the Climate Investment Platform (CIP) is facilitating the energy transition for a green recovery through new climate finance mechanisms.

The Climate Investment Platform (CIP) is a partnership that provides innovative ways to address these challenges by catalysing climate finance for clean energy, channelling it where it is most needed, and maximising its impacts.

The pandemic and climate change are closely intertwined. Such multi-faceted crises call for a comprehensive response from governments, the private sector, and civil society. As the pressure on development finance increases to help countries cope with COVID-19, the CIP is helping put forward an integrated response by supporting countries attract both the public and private funds they need for their green recovery.

In this event, representatives from countries and from the CIP highlighted how the CIP can bring together all climate finance actors to work together to accelerate the transition to clean energy to help countries recover better and reach ambitious climate goals:

• Prof. Rashid Mekki Hassan, Secretary General of Higher Council for Environment and Natural Resources (HCNER) of Sudan shared insights on Sudan’s ambitious national solar power programme;
• H.E. Mr. Houmed M’Saidie, Minister of Economy, Investment and Energy of Comoros called multilateral actors to join efforts to develop geothermal energy in Comoros;
• H.E. Mr. Osvaldo Abreu, Minister of Infrastructure, Public Works, Natural Resources and Environment, Sao Tome e Principe confirmed that the country stands ready to facilitate clean energy investments in support of a green recovery.

Denmark’s Minister of Development Cooperation Rasmus Prehn opened the event with pre-recorded remarks highlighting the urgency of addressing the climate finance challenge.

CIP partners Achim Steiner (UNDP), Francesco La Camera (IRENA), Damilola Ogunbiyi (SEforALL), and Yannick Glemarec (Green Climate Fund) called to accelerate the transition to clean energy to help countries’s green recovery in a video statement.

Srilata Kammila, Head of Climate Change Adaptation at UNDP, spoke on behalf of the CIP to invite all stakeholders to join in building the platform. This webinar was part of a series of Energy Transition Coalition events at the one-year mark since the Climate Action Summit.

This webinar is part of a series of Energy Transition Coalition events at the one-year mark since the Climate Action Summit. You can find the full programme of the series here.

Contact: Sophie Guibert, Communications Specialist, Energy, UNDP: sophie.guibert@undp.org

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