New York, April 29 – The Climate Investment Platform (CIP) has launched a call for proposals to unlock investments in projects that advance climate action and energy security in Small Island Developing States (SIDS). The selected projects will help fund clean energy opportunities in the island nations—who are among the most vulnerable to climate change—through public sector entities and public-private partnerships.
The call for proposal comes at a crucial time when the United Nations is stepping up global action for clean energy with the first UN High-Level Dialogue on Energy in 40 years, to be held in September 2021.
“Island nations are home to some of the world’s most vulnerable communities. Clean energy investment is crucial to achieve a green and resilient economic recovery. The Climate Investment Platform is a key partnership to help make these investments happen where they are most needed, especially during this COVID-19 crisis,” stated Haoliang Xu, UN Assistant Secretary General and Director of UNDP’s Bureau for Policy and Programme Support.
Seizing the renewable energy opportunity in SIDS
SIDS are heavily reliant on imported fossil fuels to power their economy, which adds to their energy fragility. Investing in clean energy in SIDS is a win-win solution that increases energy security and clean energy access in some of the world’s most remote communities while contributing to achieving global climate goals.
With the declining cost of renewable energy and energy efficiency technologies, doors have opened for new opportunities to switch to clean solutions, such as converting waste-to-energy, energy and water conservation and urban planning and retrofitting of buildings.
Eligibility to apply:
Eligible applicants for this call for proposals are primarily public sector entities and public-private partnerships in SIDS. In addition, ambitious private sector proposals with a strong sustainable development focus will be eligible as well.
For more information on this call for proposal, download the brochure here: https://www.climateinvestmentplatform.com/sids-call-for-proposals/
Selected projects will receive technical assistance for amounts between $30,000 - $80,000 for project development and design, depending on the size and nature of the of the project idea. The technical assistance will support elements such as pre-feasibility studies, assessment of business models and financial structure, and identification of potential project partners, investors, and financiers.
About the Climate Investment Platform (CIP)
The CIP through a global partnership between the United Nations Development Programme (UNDP), the International Renewable Energy Agency (IRENA), Sustainable Energy for All and in coordination with the Green Climate Fund (GCF), supports developing countries to access the financing solutions they need, to transform their energy systems, and achieve the objectives of the Paris Agreement and the Sustainable Development Goals.
More about the Climate Investment Platform partnership.