An Investment Framework for Clean Energy and Development
"This paper reports on progress in developing an Investment Framework for Clean Energy and Development. The Investment Framework is intended to be a vehicle to accelerate investments to address developing country energy needs for growth and access for the poor; mitigate greenhouse gas emissions by moving to a low-carbon economy; and support developing countries in adapting to climate variability and risk. This paper presents progress since the April 2006 Development Committee meeting where an earlier paper “Clean Energy and Development: Towards an Investment Framework” was considered. Responding to the request from Development Committee members, this Progress Report analyzes the strengths, weaknesses, complementarities, and utilization of existing World Bank Group and other International Financial Institution (IFI) instruments to address these challenges. This is a progress report that seeks to provide elements to support the Development Committee going forward. In doing so, it offers the World Bank Group’s knowledge of sector and market reforms, regulatory issues, strategies for increasing financing, including the removal of market barriers so as to increase private sector investment. It makes proposals to utilize more effectively existing instruments and, where there are gaps, to introduce new strategies and financing vehicles. The Appendix to this Executive Summary shows, in tabular form, the available instruments, improvements required, proposed new instruments, and issues and constraints"