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What can green climate fund learn from SREP's role in engaging the private sector

The UN climate talks in Copenhagen in 2009 demonstrated a commitment to increasing public and private sector investment in climate-related activities. However, the private sector needs encouragement to invest in novel and risky areas. As the UN’s Green Climate Fund will use public funding to encourage such investment this briefing makes recommendations based on the experience of the Climate Investment Fund-funded Scaling up Renewable Energy Programme (SREP) already running in Nepal and Ethiopia. Early experiences show significant challenges: where potential private sector involvement is poorly defined, both public and private bodies hesitate to engage, causing serious delays in implementation. We also argue against a ‘one size fits all’ approach, and suggest that institutions and delivery methods are tailored to each country’s specific needs.

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IIED is examining the ideas, resources and power dynamics that shape how the Climate Investment Funds achieve development impacts. Together, these factors make up the political economy, and examining them will help governments and development organisations understand how the climate investment funds can best bring about the transformational change the funds aim for.

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Understanding the political economy of the Climate Investment Funds