Side-Event in Bonn Stressed the Importance of Scaling up Green Energy Financing
During the Bonn Climate Change Conference, the focus was also on scaling up green energy financing by swapping fossil fuel subsidies for sustainable energy solutions. On 11 May, the International Institute for Sustainable Development (IISD), the Government of Denmark, the Nordic Council of Ministers (NCM) and the Friends of Fossil Fuel Subsidy Reform (FFFSR) jointly organised an event on this subject.
In the event, Sitra’s Senior Advisor Oras Tynkkynen outlined findings from our Green to Scale studies, which show that scaling up existing solutions in both the global North and South could dramatically cut global greenhouse gas emissions. The necessary investments could be financed by diverting “a fraction” of fossil fuel subsidies and invited interested countries to get in touch to explore the potential of existing climate solutions in their national contexts.
For more information, read the IISD report or see the 5-minute video: