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#betd24 Spotlight: Investment in Transformation - The Future is Renewable(s)
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Spotlight Session @BETD.24 on "Investment in Transformation - The Future is Renewable(s)" moderated by Melinda Crane.
As the world continues to fight climate change, more and more money is being invested in the transition to clean, green energy. The agreement to triple renewables at cop28 in Dubai represents a step change in the world’s journey to a clean, secure and just energy future. In a sign of how much progress is being made, the International Energy Agency's world energy investment report predicts that solar investments will attract more than $1 billion a day by 2023. Led by solar, low-emission technologies are expected to account for nearly 90 percent of power generation investment.
Yet, investment in clean energy technologies is still not significantly outpacing spending on fossil fuels; we need to make financial flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. Furthermore, it is important to remember that investment flows into renewable energy and its technical components are currently unevenly distributed. There is also a need to reduce the cost of capital for developing countries to de-risk power system investments. The course for the energy of the future is being set now - in this session, we will look at financial instruments and policies that are essential to benefit the whole world.
Speakers:
(1) Nani Chrougha, Minister of Petroleum, Mines and Energy, #Mauritania
(2) Nicola Beer, Vice President, European Investment Bank (EIB) @EIBtheEUbank
(3) Andrew Jeffries , Advisor, Energy Transition Mechanism and Partnerships, Asian Development Bank @AsianDevelopmentBank
(4) Dr Vera Songwe, Chair of the Liquidity and Sustainability Facility and Co-chair of the High Level Panel on Climate Finance, Global Developement Network @GlobalDevelopmentNetwork
In the past years the Berlin Energy Transition Dialogue (BETD) has become a leading international forum for key stakeholders of the energy sector. High-level policymakers, industry, science and civil society are given the opportunity to share their experiences and ideas on a safe, affordable and environmentally responsible global energy transition. In 2023, over 2,000 on-site and 17,000 virtual participants and viewers from more than 130 countries, more than 40 international delegations with ministers and secretaries of state, and over 100 high-level speakers gathered virtually and on-site in the German capital to participate. The Berlin Energy Transition Dialogue is hosted and supported by the German Federal Government and a joint initiative of German Renewable Energy Federation (BEE), German Solar Association (BSW-Solar), German Energy Agency (dena) and eclareon.
As the world continues to fight climate change, more and more money is being invested in the transition to clean, green energy. The agreement to triple renewables at cop28 in Dubai represents a step change in the world’s journey to a clean, secure and just energy future. In a sign of how much progress is being made, the International Energy Agency's world energy investment report predicts that solar investments will attract more than $1 billion a day by 2023. Led by solar, low-emission technologies are expected to account for nearly 90 percent of power generation investment.
Yet, investment in clean energy technologies is still not significantly outpacing spending on fossil fuels; we need to make financial flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. Furthermore, it is important to remember that investment flows into renewable energy and its technical components are currently unevenly distributed. There is also a need to reduce the cost of capital for developing countries to de-risk power system investments. The course for the energy of the future is being set now - in this session, we will look at financial instruments and policies that are essential to benefit the whole world.
Speakers:
(1) Nani Chrougha, Minister of Petroleum, Mines and Energy, #Mauritania
(2) Nicola Beer, Vice President, European Investment Bank (EIB) @EIBtheEUbank
(3) Andrew Jeffries , Advisor, Energy Transition Mechanism and Partnerships, Asian Development Bank @AsianDevelopmentBank
(4) Dr Vera Songwe, Chair of the Liquidity and Sustainability Facility and Co-chair of the High Level Panel on Climate Finance, Global Developement Network @GlobalDevelopmentNetwork
In the past years the Berlin Energy Transition Dialogue (BETD) has become a leading international forum for key stakeholders of the energy sector. High-level policymakers, industry, science and civil society are given the opportunity to share their experiences and ideas on a safe, affordable and environmentally responsible global energy transition. In 2023, over 2,000 on-site and 17,000 virtual participants and viewers from more than 130 countries, more than 40 international delegations with ministers and secretaries of state, and over 100 high-level speakers gathered virtually and on-site in the German capital to participate. The Berlin Energy Transition Dialogue is hosted and supported by the German Federal Government and a joint initiative of German Renewable Energy Federation (BEE), German Solar Association (BSW-Solar), German Energy Agency (dena) and eclareon.
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