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Mobilising private-sector investment to mitigate climate change in Africa
September 28 @ 12:30 pm - 2:00 pm
In order to deliver the outcomes set out in the Paris Agreement on climate change vast sums of finance must be mobilised quickly and efficiently. Public finance, both international and domestic, is insufficient, and as such there is recognition amongst climate policymakers in both the global North and South that private finance plays a central role in both preventing further damaging anthropogenic climate change and driving adaptation to the unavoidable impacts. Moreover, private finance is crucial for the deployment of renewable energies for climate change mitigation.
Under the Paris agreement, countries committed to delivering certain mitigation and adaptation actions, however few developing countries set out detailed plans for financing these actions, with many highlighting that the shortfall between planned actions and public finance available (domestic and from international sources such as the GCF) would be provided by ‘the private sector’. Bridging this finance gap through private investment, though, is proving challenging for many countries as a result of capacity, regulatory information, and other barriers to investment.
In order to overcome these barriers, a huge amount of analysis and capacity building work is required at a country level, supplemented by sharing of best practice across contexts. The session will provide brief examples of some of the challenges faced by developing countries in trying to mobilise private investment in the field of climate change and sustainable energy, and how these can be overcome, as well as highlight where further work needs to be undertaken.
Felice Zaccheo, Head of Unit Sustainable Energy and Climate Change at DG International Cooperation and Development – European Commission
Giulia Maci, Programme Lead ETTG
Leo Roberts, Operations and Partnerships Manager, ODI, ETTG
Jessica Stephens, COO, AMDA
Find out more here Mobilising private-sector investment to mitigate climate change in Africa