Contacts: In Mexico: Gabriela Aguilar, (52 55) 54-80-42-52 gaguilar@worldbank.org In Washington: Mauricio Rios, (202) 458-2458 mrios@worldbank.org WASHINGTON, February 1, 2006 – Ahead of an international conference on renewable energy to be held in Mexico this week, the World Bank urged both developed and developing countries to pay greater attention to economically viable, renewable, and efficient energy options as these could play a key role in mitigating climate change impacts and energy supply risks. “Carbon dioxide emissions (CO2) continue to grow, especially in developing countries enjoying rapid economic growth. However, rich countries today are still emitting 10 times more CO2 than developing countries. The associated problems with global warming are a real concern, and renewable energy could play an important role in mitigating those risks,” says Vice President for Infrastructure Katherine Sierra. According to Sierra, head of a World Bank delegation participating at the International Grid-Connected Renewable Energy Policy Forum from Feb 1-3, “If we wish to move towards a more secure and climate resilient development path then we have a profound responsibility to take concrete steps now.” The objective of the forum, jointly sponsored by the Energy Ministry of Mexico, the Global Environment Facility (GEF), The World Bank, the Energy Sector Management Assistance Programme (ESMAP), and in association with the Global Wind Energy Council (GWEC), is to facilitate increased use of grid-connected renewable energy in the developing world. According to World Bank, UNEP and other research, economically viable renewable resources -such as hydropower, geothermal and biomass, as well as wind and solar for specific applications- are largely underutilized in the developing world. Sierra emphasized that “developed countries need to transfer technology and offer financing to realize the potential of renewable resources in poor countries. This makes good business sense.” And she added: “We know that developing countries need more energy, and the sources of energy must be secure if their economies are to develop and living standards are to improve. Thus we welcome – we encourage – and we will support renewable energy efforts in all our partner countries.” Since 1990, the World Bank Group with associated GEF financing has committed over US$9 billion in financing towards renewable energy and energy efficiency investments in developing countries. In the fiscal year ending June 2005, the commitments were three quarters of a billion dollars, with the financing expected to leverage another US$3 billion from governments, private sector and other co-financiers. “Renewable energy can certainly enhance a country’s energy security by reducing energy import requirements, and can reduce supply risks by diversifying a country’s energy portfolio, says World Bank Director of Energy and Water, Jamal Saghir. “Economic opportunities for some forms of renewable energy not only exist but are ripe and ready for adoption, particularly for grid-connected technologies as urban and peri-urban expansion leads to increasing electricity demand,” Saghir adds. “With the right policies and good governance conditions in place, the private sector can also become a significant partner in these efforts.” The energy forum in Mexico provides a platform for policymakers, regulators, investors, financiers, industry, and utilities to share experiences, exchange information, and trade lessons learned in grid-connected renewable energy policy formulation and adoption. ### For more information on the World Bank’s work in infrastructure, please visit: http://www.worldbank.org/infrastructure For more information on the World Bank’s work in renewable energy, visit: http://www.worldbank.org/re For more information on Bank’s GEF program, visit
http://www.worldbank.org/gef For more information on ESMAP, visit
http://wbln0018.worldbank.org/esmap/site.nsf |
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