Access to renewable energy helps reduce greenhouse gas emissions by decreasing dependence on fossil fuels, particularly coal plants and diesel generators. While the renewable energy sector offers an attractive investment opportunity, there are barriers to investment.
Through our offices in India and Indonesia, we have significantly influenced government policy related to renewable energy. Our team in India works with the Ministry of New and Renewable Energy, the Ministry of Finance, and other policymaker to increase investment to India’s renewable energy targets. We do this through a three-pillar approach: first, understand potential investors and the barriers they face; second, explore policy solutions to these barriers; and third, develop financial instrument solutions to these barriers.
Public and private climate finance almost doubled between 2011 and 2020. However, reaching climate objectives will require climate investment to increase at least seven times by the end of this decade.
Public sector enterprises not only play a vital role in the electricity sector, but also contribute significantly to India’s economy and the social fabric of the country by employing over 15 lakh individuals. Given their vast interests in the coal value chain, they would need to become key change-makers, to not just help achieve India’s decarbonization commitments but to also ensure a just transition for all stakeholders.
Rivers of Diesel in the Amazon: Why Does the Region with Brazil’s Biggest Hydroelectric Plants Still Rely on Expensive, Dirty Fuel?
CPI/PUC-Rio researchers point out the contrast of electricity supply and identify “two Brazils”: the interconnected Brazil that runs on renewable energy and the isolated Brazil powered by fossil fuels.
Electricity access remains a significant global challenge, with only incremental progress made to date towards achieving Sustainable Development Goal 7. Affordability plays an important role in determining whether households gain and maintain access to electricity.
A cautious sense of optimism has buoyed us throughout 2021 and landed us into 2022. Here is a reflection of the progress we have made towards Climate Finance in Indonesia in 2021, and a preview of what is in stock for 2022.