Scatec Solar at COP21
Scatec Solar is present and accredited at the COP 21, participating at various events and speaking at a side-event on climate finance organized by CICERO (Center for International Climate and Environmental Research Oslo) and CPI (Climate Policy Initiative) Wednesday this week.
During the COP21, Terje Osmundsen from Scatec Solar published a paper co-authored with Climate Mundial’s Daniel Rossetto addressing the need for “result-based finance” and the speeding up of investments in renewables in developing countries. The paper – published in Environmental Finance raises the question: what would be the effects of doubling the deployment rate for wind and solar energy, and how much would it cost? From an accelerated deployment scenario, instead of waiting until 2040 to build the 700GW, the investments are brought forward by 15 years to 2025. The key enabler here is the willingness of industrialized countries to commit to a higher level of ambitions for greenhouse gas reductions up to 2030 – and to allow for the use of markets to achieve those new climate goals in the most cost-efficient manner.
A short and updated version of the paper can be read in Osmundsen’s blog “Paris can renew carbon markets; speed up renewables posted here.