Transcript Document

Finance for
Resilience (FiRe)
Investment opportunities for a resilient energy,
climate and growth system
February 2015
Executive Summary
•
Finance for Resilience (FiRe) is an open and action-oriented platform that collects,
develops and helps implement powerful ideas to raise finance for clean energy,
climate, sustainability and green growth.
•
FiRe focuses on actionable interventions that are led primarily by the private sector,
bear the potential of significant incremental finance and can be implemented
independently from the international policy process of climate change.
•
It runs in annual cycles through the phases of characterisation, prioritisation and
implementation with the Bloomberg New Energy Finance (BNEF) Summit as the
kick-off event for the implementation of the chosen FiRe Priorities.
•
FiRe is led by Michael Liebreich, Founder and Chairman of the Advisory Board and
Bloomberg New Energy Finance (BNEF). Currently, the platform is run from within
BNEF. FiRe is supported by various financial institutions, technology companies
and policy think tanks.
The challenge: clean energy investment has
levelled out since 2011
Ceres “Clean Trillion” report (2014)
estimates $1 T of clean energy
investment per year needed by
2030 to avoid the worst
consequences of climate change
Source: Ceres, “Clean Trillion Report”
16%
-7%
17%
-9%
$318bn
32%
0.5%
$310bn
$294bn
$272bn
$268bn
17%
$205bn
$206bn
2008
2009
36%
$175bn
46%
$128bn
46%
$88bn
$60bn
2004
2005
2006
2007
2010
2011
2012
2013
2014
Source: Bloomberg New Energy Finance
FiRe helps reverse the trend and reach the $1 trillion goal
by prioritising & accelerating the best interventions
FiRe’s Core Mission
To accelerate the
development of new
tools for the financing
of clean energy and
other climate
solutions worldwide
Operational approach
Barriers to finance
RISK
Policy risk
Sovereign risk
Technology risk
RETURNS
Early stage
Unpriced externalities
Incumbent domination
NOVELTY
New technologies
New business models
New market structures
TRANSACTION COSTS
Small deals
Non-standardised
New mechanisms
Source: Bloomberg New Energy Finance
Criteria for FiRe interventions
1. Must be relevant to the sector
2. Aspire to reach $1bn in the first three years
3. Be actionable, hitting concrete milestones within 12 months
4. Be a tangible intervention, not a report, conference or a fund
5. Have a willing Champion who will lead on implementation
Annual FiRe process
Characterise
Iteration 1
2014 - 2015
Select
Implement &
Monitor
BNEF Summit 2014
Characterise
Iteration 2
2015 - 2016
Select
Implement &
Monitor
BNEF Summit 2015
Characterise
Iteration 3
2016 - 2017
Select
Implement &
monitor
BNEF Summit 2016
The FiRe 2014 Winners
Securitisation
Mainstreaming four types of green bonds
Debt fund for prepaid energy access
Scale & Aggregation
Accelerating energy efficiency financing
Business renewables center
Risk management
GEEREF 2.0
Monoline guarantees for green bonds
FiRe Roles
FiRe Secretariat
FiRe Champion
FiRe Coach
Working group
member
Working group
member
Working group
member
General supporters & funders
Supporters
FiRe has 40 supporting organisations from the private and public sectors
Contact Details
www.financeforresilience.com
Michael Liebreich, [email protected]
Lela Jgerenaia, [email protected]
Twitter: @FiResilience