The implementation of policy relevant to climate change, and its impact, accelerated markedly over the last decade, despite the slow pace of international climate negotiations, says Climate Policy Initiative in a new report, The Policy Climate.
Institutional investors, which together manage assets of over $70 trillion, often have investment objectives that are aligned with the investment profile of infrastructure. At first glance, access to this large pool of capital and the alignment of objectives should help lower the costs of financing renewable energy.
This new report by Climate Policy Initiative finds that emerging economies such as China, Brazil, and India received one-third of global mitigation-directed climate finance flows; notably, most of these investments were raised domestically and invested in pursuit of development mandate.
In 2008, India’s National Action Policy on Climate Change (NAPCC) set a target, called the Renewable Purchase Obligation (RPO), to produce 15% of the country’s electricity with renewable energy sources by 2020.
This new report published by Climate Policy Initiative (CPI) analyzes the challenges for designing national policy that will attract the investment needed to spur rapid growth in wind and solar energy at a reasonable cost.