AnInvestmentFrameworkforCleanEnergyandDevelopment.pdfVIP

An Investment Framework for Clean Energy and Development a p l a t f o r m f o r c o n v e r g e n c e o f p u b l i c a n d p r i v a t e i n v e s t m e n t s t h e w o r l d b a n k owering economic growth using clean and renewable forms of energy is one of the most challenging topics in develop- ment today. How will we meet the burgeoning energy needs of the developing world without causing irreversible dam- P age to the earth’s climate or exposing economies to energy shortages? The answer requires concerted action over the long term by many partners in industry, finance, government, academia, and interna- tional organizations. Remarkable achievements have been made, as the examples on these pages demonstrate. But those achievements will not enter the mainstream unless new approaches—on the policy front, and in finance—come to complement existing initiatives. The problem is this: sustainable development through clean energy is still being addressed through short-term financing and regulatory frameworks that are not aligned to the immense scale of the challenge facing the globe. figure 1 since 1990 the wbg has