Annex D
G8 Renewable Energy Taskforce Report—Summary
of Key Recommendations
The G8 Renewable Energy Taskforce report, July
2001, was co-authored by Sir Mark Moody-Stuart, former head of
Shell, and Dr Corrado Clini, head of the Italian Environment Ministry,
at the request of G8 governments. It was charged with reporting
on the barriers to renewable energy uptake, and solutions to those.
Key recommendations to achieve the goal of supplying one billion
people with renewable energy within a decade were identified in
four areas; these involve action by both government and industry:
REDUCE TECHNOLOGY
COSTS BY
EXPANDING MARKETS,
INCLUDING:
— Government and industry implement
existing and proposed national plans to expand domestic renewable
energy markets in order to drive down costs and underpin the development
of markets in developing countries;
— Government work with International
Financial Institutions to develop well-defined "smart subsidy"
programmes (temporary and performance based) to place more resources
with International Financial Institutions (IFIs) that can be accessed
by private sector project developers on a cost-shared basis;
— Government-private sector voluntary
global commitment for the use of renewable energy by multinational
corporations in their operations.
BUILD A
STRONG MARKET
ENVIRONMENT, INCLUDING:
— strengthen institutional capacity
in developing countries to support the development of comprehensive
national renewable energy strategies with complementary private
sector investment programmes. In sustainable development, power
sector reform and other relevant national processes;
— Government and industry, on an expedited
basis, provide support to renewable energy industries for the
creation of joint ventures and other manufacturing, assembly etc
capabilities in developing countries;
— Government expand scope, visibility
and funding of innovative approaches that are currently assisting
in the development of RE markets in developing countries.
MOBILISE FINANCING,
INCLUDING:
— Government work on the integration
of renewable energy into International Development Goals, including
annual reporting on relative financial flows and donor assistance
patterns to support renewable energy, and requiring ODA, bi- and
multi-lateral agencies to explicitly consider renewables;
— Export Credit Agencies (eg ECGD)
should extend "sector arrangements" for other energy
lending to renewable energy, could include minimum standards for
energy efficiency, carbon intensity (or renewable energy obligations);
— Government call for proposals to
mobilise "patient capital" from industry and private
financiers through appropriate tax and other support schemes.
ENCOURAGE MARKET-BASED
MECHANISMS, INCLUDING:
— Work with the International Energy
Agency to evaluate the benefits of renewable certificate trading
schemes and assess benefits of enhanced international collaboration;
— Government support development of
the Clean Development Mechanism (CDM, of the Kyoto Protocol) emissions
trading that is conducive specifically for renewable energy;
— Government take steps to remove subsidies
and incentives for environmentally harmful energy technologies.
A full copy of the G8 Renewable Energy Taskforce
report can be downloaded
www.renewabletaskforce.org
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