CDP e IRENA sign an agreement on renewable energies in Developing Countries

CDP e IRENA sign an agreement on renewable energies in Developing Countries

Cassa Depositi e Prestiti (CDP) and the International Renewable Energy Agency (IRENA) signed an agreement in Abu Dhabi aimed at fostering joint initiatives to promote the transition to renewable energies in developing countries, global access to clean energy and decarbonization.

Within the framework of a growing collaboration between the two Institutions, the agreement foresees the implementation of replicable, scalable and transformative renewable energy projects, by leveraging on local, European and international resources, thereby fostering the achievement of the 2030 United Nations Agenda’s sustainable development objectives.

Thanks to the partnership with IRENA, that promotes renewable resources and technologies in 180 countries as the key to a sustainable future and helps them achieve their renewable energy potential, CDP wants to be an integral part and driving force of these initiatives, in its role as Financial Institution for International Cooperation, supporting investments in developing countries and favoring the crowding-in of private capital.

It is necessary a collective commitment for the achievement of the 2030 United Nations Agenda objectives and, in particular, to foster renewable energy, in view of the global scale of the energy transition – as stated by Antonella Baldino, Chief CDP International Development Finance Officer – This is the decisive challenge for our generation and the agreement we have signed is an important step towards a sustainable, long lasting and inclusive growth”.

We have entered a decade in which we must pursue sustainable development goals and climate objectives with increased urgency,” said IRENA Director-General Francesco La Camera. “Key to success will be our ability to mobilize the capital necessary to transition the energy system to renewable sources. Agreements such as this represent a positive step towards these goals and reinforce the investment community’s commitment to accelerating the transition.”