International
CGC International Initiative
The purpose of the Coalition for Green Capital’s international initiative is to utilize the same principles and concepts established for a domestic Green Bank – the use of long-term, low-cost finance to encourage investments in the clean energy sector – for a Global Investment Trust for Clean Energy (GITCE).
The CGC recognizes that developed nations have established a target of providing $100 billion a year through the Green Climate Fund for climate change mitigation and adaptation in developing countries. Given the worldwide budgetary constraints, those goals will not be realized by direct cash grants or other payments to these countries. The GITCE will play a crucial role in leveraging limited government funds and in helping achieve these goals through private sector investments, not just government finance, in order to make the Green Climate Fund’s targets more feasible and realistic.
The CGC recognizes that developed nations have established a target of providing $100 billion a year through the Green Climate Fund for climate change mitigation and adaptation in developing countries. Given the worldwide budgetary constraints, those goals will not be realized by direct cash grants or other payments to these countries. The GITCE will play a crucial role in leveraging limited government funds and in helping achieve these goals through private sector investments, not just government finance, in order to make the Green Climate Fund’s targets more feasible and realistic.
Vision for the Short, Medium and Long Term
Short term
Fall, 2011: CGC International will conclude research on identifying and categorizing existing and proposed green banks around the world. We will also conclude research on market needs and opportunities for clean energy investments as well as a review of ongoing international agreements and negotiations that are relevant to the global clean energy sector. This research will be presented in three academic papers to be published prior to our Global Green Banks Conference (see medium term).
Medium term
Winter, 2011/2012: CGC International will complete a concept paper for the GITCE as well as a complementary presentation to be used for publicizing this effort. The initial unveiling of the GITCE concept will take place at a Global Green Banks conference, to be hosted by NYU’s Stern School of Business. This conference will serve, among other purposes, as an initial gathering of interested stakeholders in the GITCE. Conference participants will be able to decide if and how they want to be involved with this effort going forward.
Long term
CGC International will continue to be involved with the development and formulation of the GITCE.
Fall, 2011: CGC International will conclude research on identifying and categorizing existing and proposed green banks around the world. We will also conclude research on market needs and opportunities for clean energy investments as well as a review of ongoing international agreements and negotiations that are relevant to the global clean energy sector. This research will be presented in three academic papers to be published prior to our Global Green Banks Conference (see medium term).
Medium term
Winter, 2011/2012: CGC International will complete a concept paper for the GITCE as well as a complementary presentation to be used for publicizing this effort. The initial unveiling of the GITCE concept will take place at a Global Green Banks conference, to be hosted by NYU’s Stern School of Business. This conference will serve, among other purposes, as an initial gathering of interested stakeholders in the GITCE. Conference participants will be able to decide if and how they want to be involved with this effort going forward.
Long term
CGC International will continue to be involved with the development and formulation of the GITCE.
