Our second day at COP29 was very intense but hugely rewarding as our events were often oversubscribed due to their relevance. We are, as ever, sincerely grateful to all our partners and colleagues who supported our events with their expertise and insight.
We started with The Renewable Energy Entrepreneurs of the Global South chaired by Sam Peacock SSE Renewables. Panel members were CCG’s Sam Fankhauser, Holger Rothenbusch, Gloria Dolores Alvarenga, and Rachel Moré-Oshodi. (Photo below) Across the developing world, a dynamic cohort of renewable energy entrepreneurs is shaking up the energy sector. They introduce not just a new technology, but new business models, value propositions and innovative ways of providing energy. They are reaching underserved communities in ways established operators cannot. This event explored untapped business and electrification opportunities from renewables. It was informed by Oxford University’s latest research on 2,300 start-ups across Africa and South Asia, and over 30 in-depth interviews with renewables operators.
Our colleague Lucas Somavilla Croxatto, Ph.D. attended the event Unleashing Renewable Energy for Ambitious NDCs: Progress, Feasibility, Digitalization, and Finance and presented on the chapter he had contributed to the UN’s flagship report. Organisers for this event were: UNEP CCC, UNFCCC, TEC, CTCN, IPCC
Can LMICs Afford the Energy Transition? Understanding Financing Burdens and International Support Options concentrated on one of COP29’s key themes – Finance. The global transition to net-zero emissions poses significant financial challenges for LMICs and COP29 puts a spotlight on the UNFCCC’s New Collective Quantified Goal (NCQG), which aims to establish a more structured and ambitious global financial commitment to support the Global South. Once an overall climate financing envelope is established, the next policy question that arises is how to ensure a fair allocation of these global resources across individual LMICs.
The event showcased an emerging analytical tool – MinFin – which can be used to measure climate financing gaps at the country level, and to simulate alternative forms of international support through a variety of financial instruments. The model helps determine whether implementation is financially viable, identifies potential financing gaps, and explores strategies to mitigate them. The event contrasted case studies from two African nations – Kenya and Ghana – to illustrate the magnitude of the financial challenges involved and the extent to which they differ across countries. Our thanks to Nam Nguyen Hoang Marcela Jaramillo and Philipp Trotter, for their contributions.
