Financing Global Climate Change Mitigation

image of Financing Global Climate Change Mitigation
This publication addresses the massive investments that will be required in addition to the mobilization of substantial new financial resources that will be needed in order to continue the fight on global climate change. The first part (chapters 1 through 4) provides a review of the existing mechanisms that channel funds to energy efficiency and renewable energy (EERE) projects and understand the success factors in designing EERE financing mechanisms. Part two (chapters 5 through 9) provides a review of the technical, economic, and regulatory conditions in each region and a summary of main activities undertaken by national governments and international institutions, with a particular regard to the work of the UN regional Commissions.

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The ECA region

The ECA Region is comprised of the following 53 countries of different sizes, demographic characteristics, socio-economic development levels. Patterns of energy production and consumption are very diverse on the African continent. Africa is known to be lagging behind other major world’s regions in terms of level of industrialization, modern energy consumption, electrification rates and hence to contribute marginally to global trade and wealth creation, Africa has the lowest electrification rate in the world and it is anticipated that half of the population living in Sub-Saharan Africa (SSA) will still be without access to electricity by 2030 if strong policy measures are not taken to reverse the current situation, as illustrated in figure 8.1 below.

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