How MDBs Can Accelerate the Renewable Energy Transition
This is a critical moment. Countries are finalizing their pledges for COP26. Multilateral development banks (MDBs) can play a transformative role in supporting the energy transition necessary to deliver on these pledges.
In a conversation with WRI and the Ministries of Foreign Affairs for Norway and Sweden, we will highlight ways to accelerate the energy transition and discuss the specific steps MDBs can take to help countries quickly decarbonize their electricity sectors, including by expanding investments in renewable energy, accelerating retirement of existing fossil fuel generation sources, ending finance for new fossil fuel generation projects, modernizing the energy infrastructure, and broadening access to electricity.
Bringing together experts from the Banks, client countries, civil society and donor countries, the panelists will explore the specific steps MDBs can take to assist client countries accelerate the decarbonization and just transition of their electricity sectors and thus get on track to reducing emissions in line with the Paris Agreement goals.
Minister for Development Cooperation of Denmark, Flemming Møller Mortensen
Minister for International Development Cooperation of Sweden, Per Olsson Fridh (video message)