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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This report is one of the first outputs of the Global Energy Efficiency 21 (GEE21) project, launched by the United Nations Economic Commission for Europe (ECE) in December 2008 at COP-14 in Poznan (Poland). The GEE21 project is designed to develop a more systematic exchange of experience on capacity building, policy reforms and investment project finance among countries of the other regions of the world through their UN Regional Commissions in order to promote self-financing energy efficiency improvements that raise economic productivity, diminish fuel poverty and reduce environmental air pollution such as greenhouse gas emissions. The GEE21 project stems from the positive experience in the ECE region of the Energy Efficiency 21 (EE21) programme, in particular of the project Financing Energy Efficiency Investments for Climate Change Mitigation (FEEI), mainly financed by extrabudgetary funds from the Fond Français pour l’Environnement Mondial (FFEM), the UNEP/Global Environmental Facility (GEF/UNEP), the United Nations Foundation (UNF/ UNFIP) and the European Business Congress (EBC). The GEE21 project also relies on additional funding from the government of the Russian Federation.

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