Statement to the multilateral development banks: Criteria for public investments in 100% renewable energy for climate, for people, for the planet
CIDSE joins 59 civil society groups around the world calling on multilateral development banks (MDBs) to bank on renewable energy for a just transition to a 100% renewable future at COP29.
In a joint statement, CIDSE together with other civil society organisations, assert that all public climate finance for renewable energy must be used to deliver a just and inclusive energy transition, while delivering universal energy access. The campaign calls for all public climate finance for renewable energy to uphold the following criteria:
- Criteria 1: Finance a transition towards a new 100% renewable future
- Criteria 2: Ensure a democratic energy system for all
- Criteria 3: Put people and nature at the heart of energy transition
and proposes a ten point action plan for public finance institutions for MDBs to adopt immediately In consultation with civil society and project-affected communities.
About the campaign:
In response to the urgent need for global climate action, COP28 set a target to triple global renewable energy capacity by 2030, demanding a significant transfer of public finance towards the expansion of clean energy systems. The Banking on Renewables campaign asserts all public climate finance for renewable energy must be used to deliver a just and inclusive energy transition, while delivering universal energy access.
To join the campaign, sign the statement: here
Additional information on the criteria report and case studies in Africa and Asia (Kenya, Rwanda & Tanzania, Indonesia and India) are available: here
CIDSE contact: Lydia Machaka, CIDSE Energy & Extractivism Policy Officer, machaka(at)cidse.org
Cover photo credit: UK Department for International Development