Tuesday 9th May - The UN Environment Programme Finance Initiative(UNEP FI) and the G20 have partnered to create a tool to help investors identify opportunities in the energy efficiency market.
Energy efficiency projects need $221 billion of annual investment for global emission reduction targets to be met, according to G20.
"This toolkit marks a turning point in G20 countries' collaboration to scale up energy efficiency investments and finance. With 122 banks, over $4 trillion of investors, leading public financial institutions and insurers now engaged on this critical issue," said Peter Sweatman, rapporteur and technical lead for the G20 Energy Efficiency Finance Task Group (EEFTG). "We have the public, private and policy framework and engagement through which to build the energy efficient future growth that our participating G20 countries together envision."
The G20 Energy Efficiency Investment toolkit includes:
1. An assessment of current energy efficiency investment by sector and region;
2. A showcase for good practice on (i) enabling national policy framework design and (ii) implementing the voluntary Energy Efficiency Investment Principles for G20 participating countries;
3. A report on 'best in class' instruments and approaches to encourage and increase energy efficiency investments among different types of private sector financial institutions (banks, long-term investors and insurance companies);
4. A joint consensus among public banks and development institutions around 'best in class' instruments and approaches to scaling up their energy efficiency activities.
It uses case studies from 15 of the G20 countries led by France and Mexico.
UNEP FI and G20 create investor toolkit on energy efficiencyThe announcement comes two months ahead of the G20 Green Finance Committee submitting its report on the state of play in the sector.