Thursday, September 01, 2016

Green Climate Fund Needs Ideas with Low-Carbon Wow Factor:  Ex-Head

Green Climate Fund infographics seek to reduce the complexity of climate finance. See the areas that surround the foundational, core facets of the Fund's structure, partnerships, and work illustrated via our series of easy-to-digest visual resources (Credit: Click to Enlarge.
The Green Climate Fund, which aims to channel billions of dollars to help poorer nations tackle global warming, is not yet backing the right kind of projects to bring about a sea change in low-carbon development, said its recently departed executive director.

Héla Cheikhrouhou, who was appointed as Tunisia's minister for energy, mining, and renewable in its new government on Friday, urged the $10.3-billion fund to provide clearer guidelines on what it is seeking to finance in areas such as water, urban development, energy and transport.

"Now our rules are very broad... the net that exists is very wide, so anything goes," Cheikhrouhou told the Thomson Reuters Foundation in an interview from Tunis.
Cheikhrouhou, who left the fund after one three-year term, said the agencies eligible to request its cash "need to help us to respect our mandate, and should make a bigger effort to bring us things that are not just ready and have been lying around for a while".

The fund, for its part, is working to produce technical notes to help its partners understand what kind of things it defines as "paradigm-shifting", she added.
Cleaner Energy for Tunisia
Cheikhrouhou, in her new role as Tunisia's energy minister, said she would seek to promote investment in the north African country's energy sector, with the aim of achieving "a cleaner and more efficient energy mix" over time.

Renewable energy now accounts for only around 3 to 4 percent of electric power generation, she noted, even though Tunisia has significant wind and solar resources.

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