The World Economic Forum has released a report: “ Green Investing 2010: Policy Mechanisms to Bridge the Financing Gap” as part of our Green Investing project. The report was released at the ongoing 40th World Economic Forum Annual Meeting in Davos-Klosters, Switzerland. The Green Investing project was mandated by the Forum’s Investor community at the World Economic Forum Annual Meeting in January 2008 and aims to explore ways in which the world’s leading investors can most effectively engage in the global effort to address climate change. The report builds on the first report, “ Green Investing: Towards a Clean Energy Infrastructure”. That publication, released in January 2009, highlighted viable business opportunities in the energy sector and explained that moving to a low-carbon energy infrastructure will require global annual investment of around US$ 500 billion annually, if the increase in global average temperatures is to be restricted to 2°C. The authors of the report, Anuradha Gurung and Max von Bismarck from the World Economic Forum, and Chris Greenwood and Michael Liebreich from New Energy Finance, state that “as a result of the continued financing gap, there is an urgent need for policy-makers around the world to implement measures at the regional, national and sub-national level, which will encourage investment in clean energy technology and projects. With this in mind, the report provides policy-makers with a toolkit consisting of 35 different policy mechanisms, which can be used to promote various clean energy sectors. The mechanisms can be chosen based on stage of technological development – R&D/proof of concept, demonstration and scale-up, commercial roll-out, diffusion and maturity – and also on stage of economic development.” Guidance for the Green Investing project was provided by an actively involved Committee of Experts including: - Diana Farrell, Deputy Director of US National Economic Council; Formerly, Director, McKinsey Global Institute, McKinsey & Co., USA
- Jack Ehnes, Chief Executive Officer, California State Teachers Retirement System (CalSTRS), USA
- Bruce Huber, Head of Cleantech Investment Banking; Chairman, Technology Investment Banking and Managing Director, Jefferies International, United Kingdom
- Jeremy Kranz, Vice-President, GIC Special Investments, GIC Real Estate, USA
- Marc S. Lipschultz, Member and Global Head of Energy and Infrastructure, Kohlberg, Kravis and Roberts and Co., USA
- William E. McGlashan Jr, Managing Partner, TPG Growth, USA
- Eric Martinot, Senior Research Director, Institute for Sustainable Energy Policies, Japan
- Chris Mottershead, Vice-Principal, Research and Innovation, King’s College London, United Kingdom
- Peter Gutman, Global Head, Renewable Energy and Environmental Finance, Standard Chartered Bank, United Kingdom
- Kirsty Hamilton, Associate Fellow, Energy, Renewable Energy Finance Project, Chatham House, United Kingdom
- Wen Hsieh, Partner, Kleiner Perkins Caufield & Byers (KPCB), USA
- Morgan Bazilian, Special Advisor on Energy and Climate Change to the Director-General, United Nations Industrial Development Organization, Vienna
- Marcel Brenninkmeijer, Founding Chairman, Good Energies, Switzerland
- Wes Edens, Chairman and Chief Executive Officer, Fortress Investment, USA
- Alan Salzman, Chief Executive Officer and Managing Partner, VantagePoint Venture Partners, USA
- Eric Usher, Head, Renewable Energy and Finance Unit, United Nations Environment Programme, Paris
The report asserts that clean energy investment has survived the crisis and dropped only marginally to US$ 145 billion last year. It looks set to rise to US$ 200 billion in 2010, and to continue growing beyond that.
Related LinksGreen Investing 2010: Policy Mechanisms to Bridge the Financing GapGreen Investing ReportSummary of Recommendations of the Task Force on Low Carbon ProsperityRecommendations of the Task Force on Low Carbon Prosperity
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