Climate Investment Funds Signs MoU with IRENA to Accelerate Clean Energy Investment

Nov. 1, 2021
The organizations will share their expertise on energy transition

Climate Investment Funds (CIF), a multilateral fund, signed a memorandum of understanding (MoU) with the International Renewable Energy Agency (IRENA) to accelerate investment in clean energy worldwide. The virtual signing ceremony took place just ahead of the Climate Conference CO26 and signals their commitment to the Paris Agreement and UN Sustainable Development Goals.

Under the MoU, the organizations will share expertise on energy transition. IRENA and CIF will work with governments, the private sector, the civil society, local communities and major multilateral development banks on evidence-based investments and policymaking.

“The energy transition has become a cornerstone of the global response to climate change,” said Francesco La Camera, IRENA’s Director-General, “while creating jobs, and unlocking economic growth and sustainable development. I am confident that this new partnership between IRENA and CIF will help accelerate investment and ensure that all countries and regions can realize the benefits of the global energy transition for a resilient and more equitable world.”

The strong collaboration at the regional and country level aims to lower the barriers to launching new renewable technologies, increase technical support, bring in capital from the private sector for energy transition and open sustainable markets.