PARIS—At COP21, during a launch event for Climate Investor One, the Minister for Foreign Trade and Development Cooperation of the Kingdom of the Netherlands, Mrs Lilianne Ploumen announced a EUR 50 million commitment to the instrument.
Climate Investor One (formerly the Climate Development and Finance Facility) will help fast-track renewable energy projects in developing countries, mobilizing an estimated USD two billion in finance, and reducing 1.5 million tCO2. The instrument was proposed and developed within the framework of The Global Innovation Lab for Climate Finance, with lead implementers FMO – the Netherlands Development Finance Company, and Phoenix InfraWorks.
In a speech at the event, Minister Ploumen said, “This contribution will allow Climate Investor One to fully develop its role as catalyst of private investment in renewable energy in developing and middle-income countries. Together we – the public and private sector – can energise a new future in which everyone will have access to clean and renewable energy. Energy that will power peoples’ lives and development.”
The Global Innovation Lab for Climate Finance is a global initiative that supports the identification and piloting of cutting edge climate finance instruments. It aims to drive billions of dollars of private investment into climate change mitigation and adaptation in developing countries. Analytical and secretariat work of The Lab has been funded by the UK Department of Energy & Climate Change (DECC), the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB), the U.S. Department of State, the Netherlands Ministry for Foreign Affairs, Bloomberg Philanthropies, and The Rockefeller Foundation. Climate Policy Initiative serves as The Lab Secretariat.