Live Breaking News & Updates on Energy Compact Of The World Bank

World Bank’s Climate Change Action Plan (CCAP) for 2021-2025 aims to integrate climate and development to maximize the climate impact of its projects. The Energy Sector Management Assistance Program’s (ESMAP) Sustainable Renewables Risk Mitigation Initiative (SRMI) uses climate finance for mitigation activities that reduce emissions and increase climate resilience in the energy sector. SRMI supports countries to accelerate the deployment of renewables and decarbonize the power sector with (i) technical assistance and (ii) private investments and climate finance mobilization. SRMI has supported more than 60 countries which led to enabling 4.4 gigawatts of new renewable energy projects in 14 countries and 2 regional projects, catalyzing over $ 5.5 billion in private capital, securing $ 4 billion in public infrastructure funding and guarantees, and mobilizing $ 1.2 billion in climate finance. ....

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