RMI

As a non-partisan organization that has long worked with both Republican and Democratic administrations, we stand ready to work with the new administration and all newly elected officials to bolster energy security, clean energy technologies, and clean manufacturing jobs. Globally, RMI research shows rapid advances in the deployment of wind, solar, battery storage, and electric vehicles. In the US, historic investments are spurring a cleantech manufacturing boom nationwide that is bringing down costs for families and businesses, improving energy reliability, and creating employment and growth in both red and blue parts of the country. That’s why outside of Washington, states, cities, governments, citizens, nonprofits, and companies across the board are committed to working together for an equitable clean energy future that brings prosperity to all. RMI is committed, as it always has been, to partnering with a broad range of collaborators to advance the energy transition. That imperative is true both here in the U.S. and worldwide. https://lnkd.in/g-bW7p32

Grateful and humbled by the partners who came together at the Pacific Pavilion at #COP29 on Finance Day for RMI and Secretariat of the Pacific Regional Environment Programme (SPREP)'s event on project and pipeline development in the Pacific. The Climate Finance Access Network (CFAN) experience is particularly familiar with the challenges in unlocking finance and capitalizing project pipelines at pace and scale. Pacific countries face severe human and   technical   constraints   in   accessing   climate   finance throughout project life cycles. Samoa Minister Schuster put it best: "The Pacific is not lacking ambition—our Nationally Determined Contributions (NDCs) are among the most ambitious in the world. The Pacific is not lacking ideas—we have a wealth of concept notes and project proposals waiting to be developed. The Pacific is not lacking knowledge—we have some of the world’s leading climate experts, and our ancestral knowledge is a treasure trove of wisdom. The Pacific is not lacking talent—our youth are engaged, passionate, and ready to take action.   What we are lacking is a regional mechanism or facility that can help us develop the necessary documents and studies to create strong project proposals. We need a well-resourced facility that can provide technical assistance to countries and regional entities, while simultaneously building the capacity of project developers across the region." I would like to thank the speakers who came together to share insights and solutions: @Fekitamoeloa ʻUtoikamanu, Tagaloa Cooper, Colin Young, Ph.D, @Dr Filimon Manoni, Sefanaia Nawadra, David Gumbs, Laetitia De Marez

Thank you to friends and colleagues The Global Energy Alliance for People and Planet (GEAPP) and Woochong Um for hosting a #COP29 roundtable on the importance of securing a global target for energy storage to meet climate goals. Together, we can help policymakers develop their own energy storage roadmaps that transform global targets into local realities. We are already seeing this happen in Africa, Southeast Asia, SIDS and India.  #SayYesToBESS #EnergyStorage Goals House

Today was an incredibly exciting and gratifying day for Climate Finance Access Network (CFAN). I watched from afar as in Baku, on Finance Day at #COP29, we announced that CFAN will be expanding to three countries in Africa: the beginning of its first Africa cohort. A huge thank you to the U.S. Department of State for their support of CFAN to make this possible!   As our Senior Director, Laetitia De Marez puts it: This is just the beginning. Although these three countries represent the first African cohort, CFAN’s goal is to extend our support across the African continent over the next year. We are fully committed to supporting the implementation of the #NCQG and #NDCs, drawing on three years of experience in unlocking climate finance and the invaluable insights of those on the ground who are working to drive climate solutions.    As we share and celebrate this news, I encourage you also to turn to our latest impact report, which lays out quite clearly what CFAN is capable of and has already accomplished. Twenty advisors in as many locations across three cohorts in the Pacific and Caribbean. $76.6 million secured in climate finance. A staggering $1.4 billion project pipeline. I am incredibly proud of the work our advisors have accomplished, demonstrating what lasting, embedded, and tailored support can do to unlock climate solutions. I am deeply grateful to the collaboration of our host countries, who have identified their priorities and areas of greatest need and helped ensure the right person was there for the job. I am grateful to our partners who make CFAN the network it is, helping us to recruit, train, embed, and backstop the cohorts, making sure that our advisors are set up for success. There is much more to do, but we are primed for it.     The year to come will be an exciting one, and a tremendous opportunity for impact as we set out to help implement the new climate finance goal and ensure that access and equity are at the forefront.    Read more about our expansion: https://lnkd.in/gsFK7-8H Browse our impact report:

Energy efficiency is the most important lever that is not being pulled right now to advance climate goals. Improving energy efficiency in industry, buildings, transport, and power sectors could generate 40% of the emissions reductions required by the Paris Agreement. To do so, we would need to double the pace of energy efficiency upgrades by 2030, but there has been a lack of leadership and credible government plans for energy efficiency. RMI is proud to be part of a coalition of countries, businesses, and organizations anchored by Mission Efficiency that is urging world leaders at #COP29 to commit to fund energy efficiency because it will make the energy transition cheaper, faster, fairer, and more secure. Learn more and join the movement: https://bit.ly/4fNPFkY  We appreciate our partners: Sustainable Energy for All (SEforALL), Alliance to Save Energy, Business Council for Sustainable Energy (BCSE), CLASP, Energy Efficiency Movement, E3G, European Alliance to Save Energy (EU-ASE), Global Renewables Alliance (GRA), Metrus Energy, International Copper Association, IEC (International Electrotechnical Commission), Johnson Controls, Solar Impulse Foundation, and the Energy Commission Ghana

Katalist, a 'book and claim' registry launched by the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and RMI, aims to accelerate decarbonization in the shipping industry. The maritime sector sits at the center of the global economy – more than 80% of world trade travels by sea – and is responsible for around 3% of global greenhouse gas (GHG) emissions. Many shipping companies are taking action to reduce their emissions, but it can be challenging to find customers willing to pay for the higher cost of clean shipping fuels. Katalist helps bridge this gap by separating the low-emissions product from its sustainability benefits and transferring them to another party through a registry, enabling customers to claim the environmental benefits of low-emissions transport without physically receiving it, while stimulating overall use of clean fuels. Freight customers willing to pay a green premium for low-emission transport services can reliably use Katalist to achieve their decarbonization goals. And ship operators using low-emission fuels can use it to access a broader market of freight customers willing to pay an environmental supplement. The registry will help drive investments in lower-emission fuels, boosting their cost-competitiveness and commercial availability. Learn more about how #Katalist is #FuelingChange and facilitating the decarbonization of the maritime industry: www.katalist.eco An extended thank you to Energy Web for supporting the development of this registry.

COP29 Clips: The Philippines demonstrates successful coal transition finance in action. A recent deal by ACEN Corp. will retire a coal plant 25 years ahead of schedule through smart financial structuring. The transaction, along with two other case studies in the series, showcases common elements for successful coal retirement globally: ✓ Market dynamics made transition attractive as clean energy became cheaper than existing coal power agreements. ✓ Projects secured cheaper financing rates by using creative funding approaches, such as concessional debt, institutional financing, and special investment vehicles. ✓ Financial credibility was underpinned by institutional legitimacy across the value chain. As #COP29 discussions focus on climate finance, this Philippine case study offers a tested framework to accelerate coal retirement while supporting clean energy development. https://bit.ly/4et5vjR

Yesterday, at #COP29 in Baku, on a discussion of how to improve accessibility and efficiency of off-grid infrastructure, I pointed out three market failures creating energy insecurity in SE Asia. This is a region where more than 95% of people have access to electricity, but also where resilience and access vary when climate-related disasters cut out power: 1. Financing and investment for off-grid technologies and infrastructure are suboptimal. Electric cooperatives, community projects and energy-resilient infrastructure, including the resilient grid, are considered high-risk, high-upfront costs with long payback periods. There is not enough catalytic capital or innovative financing for energy resilience and small-scale infrastructure projects.   2. The regulatory system has largely not been inclusive and not designed for people at the centre. It is not just about infrastructure projects but also about thinking through the problems faced by the community and embedding inclusivity, starting from the program design to standards in implementation and building a robust workforce. 3. On the supply side, energy-resilient projects often lack bankability and are considered risky. There is also a lack of effort to do a credible project origination. Improving bankability and helping these projects get de-risked techno-economically and financially can be a good first step in addressing the market failures In addition to the three market failures I discussed, over-reliance on fossil fuels in the energy mix also contributes to exposing the region to price volatility and supply chain disruptions, as seen during recent global energy crises. The market fails to adequately price the long-term costs of climate change and energy insecurity associated with fossil fuel dependence. Most of the time, having indigenous distributed renewable sources in the mix provides better resilience, especially through climate-related disasters.   Equitable energy access means a secure, resilient energy system that supports livelihoods continuously and for everyone. We need an ambitious effort to create an energy system that, while providing more access, supports the resilience and diversity needed to ensure energy security in the face of climate-related disasters and global market disruptions.   Thank you to IEC (International Electrotechnical Commission) for hosting, Matthew Doherty for moderating, and fellow panellists Vimal Mahendru and Bishal Thapa. #climatestandards    RMI Jon Creyts Justin Locke Ije Ikoku Okeke Brian O'Hanlon Rebecca Pimentel

We are here to recognize that in a world where climate impacts are felt more intensely everywhere, we are reminded that fast, flexible and effective climate finance is really no longer an option – it is an absolute necessity.    For Small Island States, achieving national commitments for climate action is a monumental challenge. Capacity building is essential to supporting countries on this journey to achieving their nationally-determined commitments. This was top of mind on the second day of #COP29 as leaders and implementers from across the Caribbean joined us at the NDC Partnership pavilion to speak to something critical to this month’s negotiations, and to our future: Financing for climate resilience. Climate Finance Access Network (CFAN) is committed to unlocking access to climate finance through locally recruited and embedded support, and it was powerful to see our partners and leaders articulate what we know to be true: Resilience is not something you can import, but something that is homegrown. I was especially honored by the opening remarks of the Honorable Philip Edward Davis MP KC, the Prime Minister of the Bahamas, where a CFAN Advisor is currently embedded. “Your advisor, through their work with our team, has become a partner to secure the survival of our communities,” he said. “Your support is helping us navigate the critical task before us which is to ensure the Bahamas is equipped, resilient, and prepared. CFAN’s commitment is a reminder that even in the darkest times, true allies don’t run away.” CFAN and RMI stand committed to our partners in #SIDS and #LDCs, and stands ready to support the implementation of the #NCQG through ongoing, country-led, tailored and embedded support. The perspectives, insights, and wisdom of our Caribbean colleagues are testament to their leadership – many thanks to those who spoke at this event: Omar Alcock, Rochelle Newbold, and our amazing #CFANAdvisors - Shalenie Madho (JSIF Jamaica Social Investment Fund) and Kunal Singh (Pacific Community-SPC) #climatefinance #trainforclimate

Sumant Sinha, RMI’s Board of Trustees chair, has been honored on the 2024 TIME100 Climate list, recognized for his outstanding commitment to a sustainable future. His leadership reflects both India’s and ReNew's dedication to ensuring energy security that’s accessible, reliable, and affordable. ReNew is one of the world’s largest renewable energy companies. As RMI’s Board chair, Sinha’s contributions extend globally, driving decarbonization and inspiring climate solutions. #TIME100Climate https://bit.ly/411DXPR Image credit: ReNew