The Climate Parliament held a global conference in the European Parliament to discuss how limited public funds can best directed to generate a surge of private investment in renewable energy on May 26th and 27th.
The event brought together over 50 legislators from all over Europe, the US, India and Japan together with business representatives from major producers of renewable energy technology (ranging from, Denmark, Spain, and Germany to the US and Taiwan), private investors, NGOs and others. The focus of the meeting was how to finance a large scale transition to renewable energy and to discuss how a limited amount of public funds can trigger private investment in renewables and new transmission grids.
The group advocates that 5% of the EU budget should be allocated to supporting renewable energy, including partly for accelerating R&D (€2bn), European grid development and deployment in developing countries (See Climate Parliament Proposal).
The Brussels Conference, which was the first meeting of the Climate Parliament Forum, is the initial step in what will be an ongoing dialogue between a broad group of actors – legislators, government policy experts, renewable energy and grid construction companies, private investors, public development agencies, major citizen groups and foundations. The forum will help to develop proposals to be introduced into parliaments or advanced in other ways by members of the network. The Climate Parliament Forum will explore opportunities for different groups of stakeholders to feed in ideas and support specific policies.
If you wish to know more about the Climate Parliament Forum please click here.
Please click here for the programme of the conference.
The CTC Network promotes the accelerated transfer of environmentally sound technologies for low carbon and climate resilient development at the request of developing countries.
