Today a number of international organisations expressed their support for strengthened collaboration to boost global clean energy investment. The partners welcomed a new initiative led by the Danish Ministry of Energy, Utilities and Climate to drive clean energy investment in the world’s leading economies and outlined priority areas where they will cooperate to accelerate clean energy investment.
Signatories include the European Investment Bank, Global Green Growth Institute, Institutional Investors Group on Climate Change, International Energy Agency, IPEEC, International Renewable Energy Agency, OECD, Partnering for Green Growth and the Global Goals (P4G), United Nations Development Program, Principles for Responsible Investment, The World Bank, The Confederation of Danish Industries and World Climate Ltd.
The joint Communiqué was released at the Clean Energy Investment Forum (CEIF), which took place in Copenhagen on May 22nd. The Communique supports the launch of a new dedicated Clean Energy Ministerial Initiative on Clean Energy Investment and Finance, launched by Denmark in connection with leading energy ministers meeting in Denmark and Sweden this week to the push for more clean energy globally.
"Denmark is on track to surpassing its EU energy targets, and we aim to meet at least 50% of our energy needs from renewable resources by 2030. Furthermore we have clean energy experience, technology and networks that we intend to bring to the next phase of market development in CEM countries and new energy markets. We will collaborate closely with other countries to help mobilise the investment needed and share lessons we have learned in Denmark to deploy clean energy and meet global climate goals,” said Lars Chr. Lilleholt, the Danish Minister of Energy, Utilities and Climate.
The signatories underscored the need to mobilise investment for clean energy quickly in order to meet UN sustainability goals and agreed targets under the Paris Agreement on climate change. They also agreed to collaborate more closely in helping countries reaching ambitious clean energy investment objectives.
“Falling costs for renewable energy and battery storage, along with increasing investments in energy efficiency, offer tremendous opportunities to achieve clean energy goals at lower costs than ever before. Keeping momentum going, however, will require strong policy frameworks and innovative financial structuring to mobilise sustained private sector investment,” said Riccardo Puliti, Senior Director for Energy and Extractives at the World Bank.
Speakers at the Clean Energy Investment Forum included heads of delegations from the US, Germany and Denmark, leading pension fund CEO’s and executive directors of international institutions.
“We see sustainable energy infrastructure as an attractive investment opportunity in the coming years. These investments provide solid returns and contribute to the green transition where investors have a key role to play”, PensionDanmark CEO Torben Möger Pedersen said. “By investing in clean energy we can make progress to achieving the Paris Agreement goals and avoid climate change disasters.”
According to the IEA, trillions of dollars of new investment will be needed in clean energy to shift the world economy toward low-emission and sustainable energy systems. Much of the investment will need to come from private investors, including pension funds and other institutional investors, enabled by the public sector through policy and regulation, public-private partnerships and blended finance, which can lower the risk to investors of investing in new technologies and developing country markets.
Contact
Pressemedarbejder Christian Lietzen / chrli@efkm.dk / 4172 3876