The International Renewable Energy Alliance (REN Alliance) published on 21 October 2011 a position paper on the Green Climate Fund (GCF) calling for the fund to focus on renewable energy investment.
Since the UN Climate Change Conference COP15 in Copenhagen, the creation of such a fund is under discussion in order to mitigate climate change and finance mitigation and adaptation activities especially in the developing countries. The discussion on the establishment of the GCF will play a major role at the forthcoming COP17 in Durban/South Africa.
The REN Alliance proposes that the GCF should focus on investment in renewable energy technologies. In particular, the REN Alliance proposes that the Green Climate Fund should:
- Support renewable energy investment in the poorest countries
- Establish a global incentive programme for renewable energy technologies
- Set up appropriate technology support mechanisms such as a Global Feed in Tariff programme for grid-connected technologies
- Create suitable financial support mechanisms such as micro-credit programmes for decentralised off-grid applications
- Introduce new models for further applications in heating/cooling and transportation· Take into account energy efficiency measures and public education in all aspects of energy use
- Focus on mobilising and leveraging private capital with public funds, seek expansion of public funding sources and work to incentivize private investment
- Collaborate with key players such as the International Renewable Energy Agency (IRENA) and the International Renewable Energy Alliance (REN Alliance)
The REN Alliance sees the creation of the GCF as a significant opportunity to accelerate climate change mitigation and adaption efforts. The full REN Alliance position paper can be downloaded here.