Investments in clean energy are too few and far between, falling well below the level needed to deliver on the Paris Agreement, or to sufficiently counter climate change. The IEA estimates that renewable energy will require $20,000 billion of investment up until 2050, with twice as much needed for investments in energy efficiency in buildings, industry and transport.
As host of the Clean Energy Investment Forum in Copenhagen on 22 May, the Danish Energy, Utilities and Climate Minister will support G20 participants in taking an important step towards accelerating investment in clean energy solutions across the globe.
– If we are to ensure a cleaner, more energy-efficient future, more capital must be funnelled into clean energy investments. It is imperative that we bring together potential investors in green energy projects, not only here in Denmark but also across the rest of the world – particularly in emerging economies such as China, Mexico, India and Indonesia. CEIF will help to build and stimulate investment around the world, and Denmark will lead the way as an example success story – for example, how the price of offshore wind farms has decreased because we organised the expansion in a cost-effective way that developers and investors trust, says Lars Lilleholt, the Danish Minister for Energy, Utilities and Climate.
CEIF will serve as a platform for strengthening public-private collaboration in clean energy investment, and will focus on concrete, actionable measures that accelerate investments in clean energy. At the same time, the CEIF event will kick-start a new, dedicated CEM initiative on clean energy investment and finance.
More than 100 leading decision-makers from large private companies and public, financial and expert institutions have been invited to CEIF, with the goal of creating partnerships that will significantly accelerate investments in renewable energy solutions.
– Denmark is already one of the world’s leading countries in green technology, and for many years we have been successfully exporting solutions in land and off-shore wind power solutions, amongst others, to the rest of the world. We look forward to the Clean Energy Investment Forum, which will help develop new business opportunities for Danish companies, says Karsten Dybvad, Managing Director of Dansk Industri.
Peter Damgaard Jensen, Managing Director of PKA and Chairman of the European Investment Network for Climate Change IIGCC:
– As responsible investors, we are actively seeking new investment opportunities that generate returns for our members, while contributing to sustainable development and limiting the risks associated with investments in high-emission fossil fuels PKA positively experienced how public-private partnerships can reduce risks and open up investment opportunities in new markets and technologies.
In addition to gathering world energy leaders, the Clean Energy Investment Forum will be a unique showcase for new Nordic technologies and business models, and will also be an opportunity for innovators to meet and network with ministers from the largest energy technology markets in the world.
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About CEM and CEIF
The Clean Energy Ministerial (CEM) brings together ministers and decision makers with the goal of sharing experience and best practice within sustainable energy solutions.
CEM focuses on practical cooperation and exchanging positive experiences in green solutions.
The 9th meeting of CEM brings together energy ministers from G20 members, including some of the largest economies and CO2 emitters such as China, Germany, France, Russia, Saudi Arabia, Great Britain and the United States.
CEIF is supported by several institutional partners, including OECD, the World Bank, the European Investment Bank, P4G, the International Energy Agency, the Institutional Investors Group on Climate Change, the Global Green Growth Institute and IRENA. Event partners are the Confederation of Danish Industry and World Climate Ltd.
CEIF will take place on Tuesday, 22 May in Industriens Hus, Copenhagen, Denmark.