ECREEE COP-17 Side Event

Promoting Renewable Energy and Energy Efficiency Investments in West Africa

Introduction:

The ECREEE COP-17 Side Event "Promoting Renewable Energy and Energy Efficiency Investments for Sustainable Development in West Africa" is scheduled to take place at the Inkosi Albert Luthuli International Convention Centre (ICC) in Durban on 7 December 2011 from 16:45 to 18:15 (Room Apies River). The meeting brings together high-level speakers from ECOWAS, UNIDO, GEF, Austria, Spain and the European Commission.

Background:

The side event is held at the background of a severe energy crisis in the ECOWAS region and international efforts to address energy security, energy poverty and climate change mitigation simultaneously. Along with other low-carbon technologies, renewable energy and energy efficiency are appropriate tools to address these challenges in an integrated manner. Although the ECOWAS region can rely on a wide range of untapped renewable energy and energy efficiency (RE&EE) potentials, the markets remain largely underdeveloped. In 2010, West Africa attracted only a minimal fraction of the overall global renewable energy investments estimated at US$ 200 billion. The ECOWAS countries are yet to take advantage of clean energy investments due to the existence of various technical, financial, legal, institutional, policy and capacity related barriers.

Objectives of side event:

The main objective of the side event is to identify ways to overcome the key constraints for green energy investments in the ECOWAS region. The invited panelists will discuss (…)

• what has to be put in place by ECOWAS Governments to attract public-private and domestic-international finance for RE&EE investments in urban as well as peri-urban and rural areas.
• the added value of regional approaches to address national investment barriers and the role of the newly established ECOWAS Regional Centre for Renewable Energy and Energy Efficiency (ECREEE).
• the role of international development aid, climate finance and the concept of Nationally Appropriate Mitigation Actions (NAMAs).

Results and Deliverables:

The side event (…)

1. will provide inputs for a study focusing on the improvement of investment and business frameworks for RE&EE in the ECOWAS region. The study is currently elaborated under the coordination of ECREEE and support of the ACP Business Climate Facility (BizClim). It will provide recommendations how the ECOWAS countries can use the NAMAs to scale up RE&EE investments.
    
2. will contribute to the achievement of the UN Millennium Development Goals (MDGs), the UN Goal on Universal Access to Sustainable Energy Services by 2030 and the international agreements to reduce GHG emissions to keep the global average temperature rise below two degrees Celsius. The side event is also a direct contribution of ECOWAS to the 2012 International Year of Sustainable Energy For All.

Background Documents:

Background papers and further information on the side event can be found below.

Agenda