Green Finance Innovation Platform: Derisking Renewable Energy Investments in the Arab Region

01

INTRO

Less than 10% of the climate investment called for by countries' Nationally Determined Contribution (NDC) climate plans under the Paris Agreement have been met. Even where large-scale finance exists, it is only for large mega projects which often bring little direct benefit for broader development goals, such as those identified by the SDGs. Scaling up climate finance will close this large gap, through reducing barriers for private and public investment in climate solutions that reach all country typologies in the region and putting in place an enabling environment of policies and partnerships that can also help accelerate SDG results. Through support to the emergence of the Pan-Arab Clean Energy (PACE) platform, a network of public and private partners across 18 countries in the Arab region, with the International Renewable Energy Agency (IRENA), the Regional Center for Renewable Energy and Energy Efficiency (RCREEE), and country partners across the region, new pathways of acceleration will be identified, new investment projects will be generated, and new public-private partnerships will be established, significantly expanding the ability of countries to attract and deploy climate finance under NDCs. Beyond conventional commercial investments for large-scale projects, innovative approaches will be generated to achieve scale of results for sustainable energy investments with benefits across SDGs – poverty reduction, women’s empowerment, water security and other development priorities in the region.

SDGs

Ensure access to affordable, reliable, sustainable and modern energy for all
Take urgent action to combat climate change and its impact
Strenghten the means of implementation and revitalise the global partnership for sustainable development

Methodolgies

Alternative Finance

Countries

Regional

Funded

Yes

Start Date

2018

End Date

2022

02

MULTIMEDIA

More Projects

Quotes

“We believe that now ... it's time for the Arab nations to rise again through science and innovation."

Tamer Taha, Founder of Yomken

Human-centered design is a philosophy, not a precise set of methods, but one that assumes that innovation should start by getting close to users and observing their activities.

Donald A. Norman, Co, Founder of Nielsen Norman Group

The main tenet of design thinking is empathy for the people you’re trying to design for. Leadership is exactly the same thing – building empathy for the people that you’re entrusted to help.

David Kelley, Founder of IDEO

We spend a lot time designing the bridge, but not enough time thinking about the people who are crossing it.

Dr. Prabhjot Singh, Director of Systems Design at the Earth Institute

It’s not ‘us versus them’ or even ‘us on behalf of them.’ For a design thinker it has to be ‘us with them'.

Tim Brown, CEO and President of IDEO

The agenda specifically recognizes youth as “critical agents of change”. To ensure the success of the 2030 Agenda, we need all young people on board - all of you, young activists, innovators, disruptors and trailblazers.

Achim Steiner, UNDP Administrator

When something is important enough, you do it even if the odds are not in your favor.

Elon Musk, CEO of Tesla Motors

Failure is an option here. if things are not failing, you are not innovating enough.

Elon Musk, CEO of Tesla Motors

If the government regulates against use of drones or stem cells or artificial intelligence, all that means is that the work and the research leave the borders of that country and go someplace else.

Peter Diamandis, Executive Chairman of the X Prize Foundation

The way to get good ideas is to get lots of ideas and throw the bad ones away.

Linus Pauling, American Chemist

We are trying to prove ourselves wrong as quickly as possible, because only in that way can we make progress.

Richard Feynman, Noble Prize Winning Physicist