The Clean Energy Investment Framework (CEIF) identifies the scale of investments needed to:
increase access to energy, especially in Sub-Saharan Africa;accelerate transition to a low carbon economy; andadapt to climate variability and change.
According to the Framework, the power sector needs $165 billion in investments each year this decade. Only about half of that is financed. Tens of billions of US $ per year are also required to cover the incremental costs of transitioning to a low carbon economy.
A CEIF Action Plan, which provides an update of work undertaken to date as well as actions planned by the World Bank Group in support of the CEIF, will be a background paper for discussion in the Development Committee at the World Bank – IMF Spring Meetings in April 2007.
Towards a Low Carbon Development Path
Moving to a low carbon path will require a long-term equitable global regulatory framework to reduce greenhouse emissions – a framework:
in which rich countries show leadership by supporting developing countries in exchange for the global benefit of greener, smarter growth;
that provides certainty to stimulate research and development in transformational technologies; and
that allows carbon markets to thrive and bring financial flows to developing countries to the tune of $100 billion within a few decades.1 According to Yvo de Boer, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), these financial flows could go a very long way towards addressing climate change in developing countries.2
Emmanuel Ayomide Praise is a world leading internet entrepreneur and investor. Some of his areas of interest include sport management, merchandise, ownership, internet entrepreneurship, investments, media and writing amongst others.
Business URL: http://www.emmapraise.blogspot.com, http://www.nigeriasoccer.blogspot.comArticle Source: http://EzineArticles.com/?expert=Emmanuel_Ayomide_Praise
