Oct 25, 2021
25 October 2021 – Today, the Climate Investment Funds (CIF) CEO Mafalda Duarte and the International Renewable Energy Agency’s (IRENA) Director General Francesco La Camera signed a Memorandum of Understanding (MoU) in an effort to accelerate just and inclusive energy transition investment globally. The partnership cements the two organizations commitments to raising climate ambition in pursuit of the Paris Agreement and the UN Sustainable Development Goals.
CIF is the world's largest multilateral climate finance organization for developing and middle-income countries, and combined with IRENA’s expertise of energy transitions, the partners are looking to amplify their efforts and impact in climate resilient development.
“The Climate Investment Funds is proud to strengthen its collaboration with IRENA,” said Mafalda Duarte, CEO of the Climate Investment Funds. “Together our two organizations stand to redouble efforts in accelerating clean energy investment by promoting knowledge sharing and international cooperation.” says CIF CEO Mafalda Duarte.
Energy transition is at the top of the list in the global response to climate change. It is creating jobs, unlocking economic growth, and promoting sustainable development. CIF and IRENA are working to accelerate this transition considering the immediate urgency of the climate crisis.
Under the MoU, CIF and IRENA will promote sustainable and socially inclusive development practices that include climate change mitigation and adaptation strategies for energy transition. The partners will focus on investments and policymaking in this space working closely with governments, the private sector, civil society, local communities, and major multilateral development banks (MDBs) with the goal of informing their energy transition strategies and development plans.
With their combined experience and knowledge, CIF and IRENA are looking to provide technical support and capacity building for high-level stakeholders on a national level, with a goal of opening sustainable markets that promote innovative renewable technologies and mobilize private sector capital for energy transition.
