Jenny McInnes of @beisgovuk says at @hsbc event that CFA identified the many market barriers that exist to investment, it's up to governments to deal with those, and UK govt International Climate Fund has new facility to assist partner governments to do so #GreenGB
Graham Smith of @HSBC says great value of CFA was opportunity to talk openly to govts about why projects are and aren't bankable from a commercial point of view. Mexican delegation they worked with were then able to construct their own filtering process for projects #GreenGB
Nick Stern opens a session on the Climate Finance Accelerator (an NDCi initiative) at @HSBC event part of Green Great Britain Week #ggbw Big audience to hear how to accelerate *primary* finance in developing countries
.@World Bank has announced a $1 billion facility to promote battery storage of renewable energy in developing countries, and is looking to raise $4 billion more. Because battery storage is expensive, most projects are concentrated in developed countries https://t.co/zItr2OROHo
.@WRI has published a suggested formula for replenishment of the GCF, to give more certainty on funding. This could be based on gross national income (GNI), cumulative GHG emissions, and GHG emissions per capita. https://t.co/rqb29IfFOt green-climate-fund-first-replenishment
Really important this is addressed, let’s hope the GCF takes the opportunity for some changes to signal a new approach, and that philanthropies wake up to the need to build a real community around Paris finance, not just “the Transition” in rich countries
The value of building a more comprehensive understanding of financing the just transition - so poor countries get investment not just the rich & of building a community of trust - great insights @Money4NDCs thanks. https://t.co/KegFUlP6SC via @EMAILiT