Global S&T Development Trend Analysis Platform of Resources and Environment
Blended Finance in Clean Energy: Experiences and Opportunities | |
Bella Tonkonogy; Jessica Brown; Valerio Micale; Xueying Wang and Alex Clark | |
2018-02 | |
出版年 | 2018 |
语种 | 英语 |
国家 | 美国 |
领域 | 气候变化 |
英文摘要 | The combined challenges of energy access and climate change present major needs for clean energy investment. The Paris Agreement and United Nations’ Sustainable Development Goals, negotiated in 2015, represented an inflection point for moving from talk to action in order to address two of the world’s most important challenges. The objective is clear: mobilize investment to meet the goal of limiting global warming to, at most, 2 degrees Celsius while also bringing electricity to the more than 1 billion people globally who do not yet have access to it. Within developing economies, there are significant opportunities to increase investment in clean energy: by 2030, non-OECD countries are projected to increase demand for electricity by 63 percent from 2014 levels (OECD, 2017a). This nearly 7,000 terawatt hours (TWh) of additional demand represents 85% of the expected global demand increase for that same time period (IEA, 2016). Many developing economies already offer strong environments for investment. Countries including Mexico, Chile, Thailand, Peru, Malaysia, and China, among others, offer strong institutions and favorable policy environments, which are reflected in high sovereign investment-grade ratings. This report looks at what is needed to unlock investment opportunities in developing economies that are still catching up. We evaluated, by geography and clean energy sector, the most significant opportunities for impact on both climate change and energy access per dollar invested; the risks and barriers that prevent investment; and how blended finance could be deployed to address investor needs. We find that the greatest opportunities for blended finance in clean energy are in Sub-Saharan Africa and South and East Asia, with a subset of eight countries alone offering more than USD 360bn in investment potential in clean energy by 2030 (see following bubble chart). Private investors, in particular, should note the investment potential in the following:
Even though clean energy costs have come down significantly in recent years, risks and barriers remain in these countries and are preventing investment. The top risks identified in our research are off-taker risk, currency risk, policy risk, and liquidity and scale risks. In addition, many early stage projects and clean energy companies face barriers in accessing financing. We looked at 75 blended finance initiatives in clean energy, diving in depth into a subset of them, to understand how barriers are currently being addressed and remaining gaps. We found, among others, that:
Blended finance is essential to increase private investment in critical markets, but changes to how it is deployed would increase its success in supporting global goals and mobilizing private investment. In particular, we recommend to blended finance practitioners that:
Many innovators are already taking these lessons and building the next generation of blended finance initiatives. Promising approaches are highlighted throughout the report. Read lead author Bella Tonkonogy’s blog post highlighting the report’s findings, here. This working paper was commissioned by the Blended Finance Taskforce and contributes to its consultation paper “Better Finance, Better World”. The Taskforce was launched as an initiative of the Business & Sustainable Development Commission in 2017 to look at blended finance from a private sector perspective and to see how blended finance can make the SDGs more “investable” for commercial players. The Taskforce is developing an action plan to rapidly scale the blended finance market in order to mobilise more private capital for the SDGs, particularly for sustainable infrastructure in emerging markets and would welcome your feedback. The Taskforce commissioned a series of working papers on blended finance (including this one) to contribute to this action plan. “Mobilising Institutional Capital at Scale for the Global Goals Through Blended Finance” was prepared by Convergence (and Tideline in advising role) and catalogues investment motivations, requirements, and constraints of institutional investors in taking advantage of blended finance mechanisms. “Blended Finance in Clean Energy” was prepared by the Climate Policy Initiative and analyses opportunities where blended finance can mobilise large scale private capital for clean energy. “Financing Sustainable Land Use” was prepared byKOIS Invest and explores how to unlock business opportunities in sustainable land use with blended finance. All reports available at www.businesscommission.org |
英文关键词 | blended finance climate finance |
URL | 查看原文 |
来源平台 | Climate Policy Initiative |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/242521 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | Bella Tonkonogy,Jessica Brown,Valerio Micale,et al. Blended Finance in Clean Energy: Experiences and Opportunities,2018. |
条目包含的文件 | 条目无相关文件。 |
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