Yesterday, we co-hosted an official side event on Leveraging Public-Private Synergies to Accelerate the Global Energy Transition with the Climate Change Center and Climate Leadership Coalition to discuss the success factors of global cooperation for impactful public private partnerships to accelerate the energy transition by unlocking much-needed climate finance, establishing carbon markets, and facilitating tech transfer.
Our key takeaways from the session are:
✅Foster a supportive environment for cleantech investment: Establish an appealing and supportive environment that encourages private sector investment in clean technologies. This involves addressing barriers to entry and creating clear incentives for sustainable financing.
✅Bridge the commercialization gap with public support: Governments must provide clarity on infrastructure priorities and actively address the commercialization gap, particularly the unprofitable stages of investment. By mitigating risks where a strong business case is lacking, public support can accelerate private sector engagement and drive the transition to a cleaner economy.
✅Integrate public and private financing holistically: Adopt a holistic approach to leveraging private and public financing, considering the entire value chain, reducing risks, and incentivizing investment.
✅Leverage standards and public procurement to mitigate investment risks: Identify standards and public procurement opportunities to ensure off takers of decarbonized products, reducing the investment risks.
A big thank you to Young Sook Yoo (Climate Change Center) for her opening remarks, key note speaker Sakari Puisto (Parliament of Finland), and speakers Boo nam Shin (Korea Energy Agency), Simon Benmarraze (International Renewable Energy Agency (IRENA)), Seth Mahu (Ministry of Energy, Republic of Ghana) and our colleage Magnolia Tovar, as well as the moderators, Leonie Brand (FCA) and Tuuli Kaskinen (Climate Leadership Coalition), for a great discussion!
