(Source: Climate Investments Funds)
Latin-American and Caribbean Green Finance, LGF, had the opportunity to join with the leading efforts to empower transformations in the energy, climate resilience, transport and forestry sectors—focusing on ways to contribute to the successful implementation of the Sustainable Development Goals and the Paris Agreement, among other initiatives in Vienna, Austria.
This year’s Vienna Energy Forum had a focus on ways to contribute to the successful implementation of the Sustainable Development Goals and the Paris Agreement. The global gathering was a timely opportunity for diverse institutions and individuals to meet, discuss and highlight their respective efforts, ideas and contributions towards SDG 7 (access to affordable, reliable, sustainable and modern energy for all).
5 Takeaways from the Conversation:
- Macroeconomic drivers, such as current account deficits, can help drive supportive policies – such as favorable tax incentives – for energy efficiency.
- Even in countries where there are low-carbon targets and supportive policies for EE financing, access to financing can be a major challenge for banks to develop EE financing lines.
- Concessional fundscan provide the incentives necessary to help local banks develop and build-out their energy efficiency financing line of business, while also allowing development financing institutions to open the door to work with strong local financing institutions.
- Building capacity of loan officers and management from local banksand providing them with tools, such as the digitalization and standardization of energy audit process/reporting, can be critical to helping local banks understand the EE financing business and develop and market these new lines of business.
- Upstream work, such as surveying potential customers in a target sector in order to evaluate appetite for EE financial products, can be critical to mitigate uncertainty regarding the development of these products.