Seven ECA ideas for financing climate solutions

On 19-20 September 2013, a broad selection of participants from the private and public sector – many of these members of the Berne Union – met in Copenhagen. The occasion was a workshop on how ECAs could do more to mobilise private finance for climate projects.

The results of the workshop are published by EKF, the ECA of Denmark, in the form of a catalogue of ideas focusing on seven very different ideas:

A. Building bridges between ECAs, MDBs, IFIs, DFIs, DBs and national aid authorities
B. Dual approach to investment guarantees and improved IPAs
C. International climate fund insured by ECAs
D. Fund to cover project development costs
E. Climate Bond Warehouse
F. Risk sharing pool of ECA capacities
G. Scope of ECA cover –the role as arranger

Click here to download the full catalog (PDF format)

Mr. Jan Vassard, deputy CEO of EKF, says:

“At EKF, we will be moving forward with the ideas A, D and F, and a handful of ECA’s have already expressed their interest in supporting this initiative. However, other ideas may hold more potential for other parties and we recommend everyone to engage in the process as it develops further.”

What happens next?
The catalogue of ideas was presented and discussed at the ministerial meeting on climate
finance hosted by the US in Copenhagen on 24 October and the results were communicated at COP 19 in Warsaw – the 19th Conference of the Parties of the UNFCCC.

EKF will follow up among participants in the Copenhagen workshop in the beginning of 2014 to assess the status of any initiatives undertaken.

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