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A big part of speeding up the move away from fossil fuels is scaling up innovation and technology. With an appetite for riskier projects, philanthropic foundations could play an important role in raising some much needed cash
RISK-TAKING
Innovations in infrastructure and technology are vital for scaling up the clean energy transition. But investment in them is financially risky and returns can take years to materialise. Big philanthropic organisations are slowly moving in to fill the venture capital gap in the energy transformation, but they could be doing much more
INCREASED INVESTMENT
Philanthropic foundations in the US and the EU are showing a heightened commitment to fighting climate change. In the US, grants from foundations to environmental projects increased by more than 10% from 2017-2019, to reach $75.86 billion
KEY QUOTE
Many investors say they would like to invest in clean energy, but lack attractive projects. Foundations can help lead the way ...
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Despite the massive economic downfall as a result of the Covid-19 pandemic and lockdown, there remains strong demand for renewable energy assets, suggesting the sector will not suffer as it did after the 2008 recession
The concept of transition bonds began as an idea to sell bonds that were difficult to market as green bonds, mainly natural gas bonds, but has evolved into an opportunity to accelerate decarbonisation efforts
Many believe the ECB and other central banks should bring climate considerations into the rulebook governing what they support and how
The impact of Covid-19 on decarbonisation efforts is likely to be short-lived if governments can learn lessons around the effective response to a crisis, says Paul Micallef Global Digital Grid Leader at EY
The best way to persuade treasuries and heads of state to put the environment and clean energy at the heart of packages aimed at stimulating economies after the coronavirus is to focus on debt-related risks, argues Brook Riley from Rockwool Group
Despite the constant flood of bad news related to Covid-19, there are signs we are also witnessing unprecedented global dialogue, innovation and collaboration, offering hope that climate change and clean energy can be at the forefront of post-pandemic plans, says Mark Watts, Executive Director of C40 Cities
Politically there is broad support in Denmark for financing the green transition through taxes and a carbon emissions tax proposal has been welcomed by parties across the political spectrum, but industry opposition could ultimately quash the idea
The world’s development banks are funnelling ever-greater volumes of finance into clean energy — but the challenge of shifting entire economies away from climate-wrecking activity and towards actions that align investment goals with those of the Paris Agreement requires a more holistic approach
The European Green Deal, launched in December 2019, is an ambitious policy proposal that will try to agree a carbon emissions reduction target for Europe of up to 55% by 2030 compared to 1990. Two questions appear: is it possible and how much will it cost. But both could be misleading, says Julian Popov, Fellow at the European Climate Foundation and former Bulgarian Minister of the Environment
An EU taxonomy to define green investments is expected to enter into force in 2021, but some experts want it to be used immediately to inform stimulus packages aimed at dealing with the social and economic fallout from the Covid-19 pandemic
COVID-19 may have reduced emissions in the short-term, but much more needs to happen to slash fossil fuel use to meet climate targets
To create demand for sustainable finance, governments should integrate climate criteria into their procurement and in how they draft policies and regulations
Recent Eurelectric analysis reveals the need to reconsider and improve a number of policies and priorities as part of the European Green Deal — the EU Emissions Trading System and an effective carbon pricing for non-ETS require careful consideration, says Petar Georgiev, Eurelectric Policy Advisor climate & e-mobility
Europe is considering taking the bold step of introducing a border carbon adjustment tariff on goods imported from regions where carbon pricing is lacking, placing trade right in the middle of its climate ambitions
