The Carbon Trust is one of 13 organisations across the globe supporting the World Bank’s new Climate Business Innovation Network (CBIN). The network has been created to address the urgent need for commercialisation of climate technologies, and for them to be diffused throughout emerging countries to confront present climate concerns.
With countries gearing up to implement their Nationally Determined Contributions under the Paris Agreement on climate change, it is essential they are able to deploy innovative clean technologies. The network will allow climate technology businesses in developing countries to access the expertise and know-how needed to adapt and adopt innovative business models that have been proven in other countries.
The CBIN will initially consist of 30 organisations representing a range of global, regional and local remits, which will leverage their range of experience to contribute to clean technology deployment across 12 developing countries. These include foundations, non-profits, bilateral donors, accelerator networks, business associations, multinational corporations, investor networks, and social impact funds.
Specifically, the network will focus on:
Spreading models to enable climate innovation: Countries have implemented a range of strategies to catalyze innovation locally and globally to create new technologies for climate mitigation and adaptation. The network will be the premier vehicle to gather experiences and share them with participating countries and stakeholders.
Diffusing disruptive green business models: The innovation we are seeing in every country around the world in climate sectors is creating many new business models which not only address climate challenges but do so in a commercial manner that creates jobs and investments. The network will gather, collect, and share these successes, linking private sector firms and government entities across boundaries to facilitate this transfer.
Crowd-in global sources of finance for climate tech innovation: Both the public and private sector have shown keen interest to invest in novel climate change solutions with developing country applications. There are many barriers to such investment, however, including lack of knowledge, high transaction costs, and challenges to align different investor interests. The network will gather these sources of funding for climate innovation to channel them effectively among a pipeline of promising options.
Officially launched at an event held by the World Bank during COP22 in Marrakech, Tom Delay, Chief Executive of the Carbon Trust shared his views on the importance of the private sector in accelerating the transition to a sustainable, low carbon world. The panel also included prominent figures including James Close, Director, Climate Change, World Bank Group; Nizar Baraka, President of the COP22 Scientific Committee; Judi Wakhungu, Minister of Environment and Natural Resources, Kenya, and Mahama Ayariga, Minister of Environment, Science Technology and Innovation, Ghana.
Like our Facebook Page
Solar-Powered Solutions for Lowering City Infrastructure Carbon Footprint
How to Prioritize Sustainability When Studying Abroad
EHS Management is Making the Construction Industry Greener
Best Sustainable Practices in the Construction Industry in 2024
Comparing Renewable Energy: Solar Power, Wind, Hydro & Bio
Maximizing Home Efficiency: The Renewable Way
10 Easy Ways To Make Your Home More Eco-Friendly
Energy Management Mastery: 4 Tips for Green Property Owners
Wonderful Ways to Make Your University Lifestyle Greener
How Construction Companies Can Ensure Sustainable Practices
Insider Tips for an Eco-Friendly Dubai Vacation in 2024
The Coming Social & Environmental Challenges of eCommerce
How You Can Cool Your Home Without Warming the Planet
Polythene Bags and Food Safety: Crucial Role in Food Packaging
How Can Field Service Companies Reduce Their Carbon Footprint?
Solo Eco-Tourism Misconceptions That Need To Be Debunked
5 Tips for Creating a Sustainable Living Space
Embracing Sustainability: 7 Tips for Eco-Friendly Shopping
Crypto Market Makers Are Becoming More Eco-Friendly
Eco-Friendly Benefits of Energy Efficient Mortgages
- Features8 months ago
What is the Eco-Friendliest Option to Wash Your Dishes?
- Environment12 months ago
6 Home Improvements You Can Make to Help the Environment
- Editors Choice11 months ago
7 Tips to Minimize the Negative Impact Businesses Have on the Environment
- Environment12 months ago
The Truth About The Environmental Impact of Dogs