Countries mull funding to promote clean energy

Energy ministers from 23 countries have decided to explore the possibility of setting up of a funding mechanism to promote clean energy across the world

Written by ENS Economic Bureau | New Delhi | Published: April 19, 2013 1:38 am

Energy ministers from 23 countries have decided to explore the possibility of setting up of a funding mechanism to promote clean energy across the world.

In the ongoing meeting of the Clean Energy Ministerial (CEM),a unanimous message from the developed and developing nations was that not enough is being done to produce more energy with less carbon dioxide.

“We are thinking of preparing a paper on what are the issues of financing. One of the issue may be international funding,” Planning Commission deputy chairman Montek Singh Ahluwalia said.

There is also unanimity among the participating nations that a high-level advisory committee should be constituted to look into the technological and financial issues impeding implementation of clean energy in the member countries.

Addressing the CEM meet,US energy secretary Steven Chu said usage of energy efficient devices by electricity-starved economies like India would go a long way in promoting investments to develop clean energy.

During the meet,the World Bank announced the launching of a South-South-North Knowledge Exchange facility,which will enable exchange of ideas and experiences in clean energy among the members of the CEM and the initiative led by India and the United States.

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