Financing Climate Change - Dr Andrea Pinna, EIB - EPA CC Conference June 2010

CLIMATE CHANGE www.epa.ie Research Programme

Financing Climate Change: Climate Action at the EIB EPA Climate Change Conference Dublin, 30 June 2010 Andrea Pinna European Investment Bank 05/07/10 European Investment Bank

The Impact of Climate Change ,[object Object],[object Object],[object Object],[object Object],05/07/10 European Investment Bank

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Financing Mitigation 05/07/10 European Investment Bank

EU Leadership Role in the Global Fight against Climate Change ,[object Object],[object Object],[object Object],[object Object],05/07/10 European Investment Bank

The EIB Framework for Climate Change Action 6 Action Areas ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],05/07/10 European Investment Bank

1: Supporting EU Climate Policy ,[object Object],[object Object],[object Object],[object Object],05/07/10 European Investment Bank

2: Scaling-up lending for climate change ,[object Object],[object Object],05/07/10 European Investment Bank

[object Object],2: Scaling-up lending for climate change 05/07/10 European Investment Bank ,[object Object],[object Object],[object Object],[object Object]

05/07/10 European Investment Bank EIB´s RE Lending 2005-2009: €10,128m 2: Scaling-up lending for climate change

Global reach of EIB action in climate change Direct investments 05/07/10 European Investment Bank

[object Object],[object Object],[object Object],[object Object],05/07/10 European Investment Bank 2: Scaling-up lending for climate change

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3: Supporting early-stage low-carbon technologies 05/07/10 European Investment Bank

Offshore wind 05/07/10 European Investment Bank ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Concentrated Solar Power 05/07/10 European Investment Bank * * Contractually guaranteed load factor taking into account molten salt storage and auxiliary firing on natural gas. Promoter : ACS/Cobra & Solar Millennium EIB financing : EUR 120m direct risk (RSFF), EUR 109.2m interm.

Concentrated Solar Power 05/07/10 European Investment Bank Promoter: Abengoa Installed capacity: 11MW and 20MW Storage: no Project site: Seville Net electricity production: 22.3 GWh and 46.4 GWh/year EPC price: EUR 48.5m for PS10 and EUR 95.35m for PS20 EIB financing: EUR 50m direct risk (RSFF), EUR 78m intermediated. Solucar – Central Solar Receiver PS10 and PS20 First tower mounted central receiver solar thermal plants in europe and the first in the world in commercial operation.

Concentrated Solar Power 05/07/10 European Investment Bank Gemasolar - Central Solar Receiver First tower mounted central receiver solar thermal plant using molten salt as thermal fluid and energy storage. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

4: Deploy New Financing instruments The EU Dimension ,[object Object],[object Object],[object Object],[object Object],05/07/10 European Investment Bank

[object Object],[object Object],[object Object],[object Object],[object Object],4: Deploy New Financing instruments Outside the EU 05/07/10 European Investment Bank

5. Adaptation ,[object Object],[object Object],05/07/10 European Investment Bank

6: Adaptation 05/07/10 European Investment Bank Adaptation also a business opportunity Examples of adaptation projects financed in last decade: Sub-sector Project countries Total project cost (€bn) EIB loans (€bn) Flood risk management Germany, Netherlands, Czech Republic 1.94 0.95 Coastal and riverbank protection Italy, Bulgaria, Russia 5.30 1.57 Erosion and landslide prevention Poland 0.07 0.05 Total 7.31 2.57

6: Mainstreaming Climate Change ,[object Object],[object Object],[object Object],[object Object],[object Object],05/07/10 European Investment Bank

For more information… ,[object Object],[object Object],[object Object],05/07/10 European Investment Bank

EPA Climate Change Conference 2010 Advancing national climate policy development Owen Ryan Climate Change Policy Department of the Environment, Heritage & Local Government

Climate Change Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Ultimate objective ,[object Object],[object Object],[object Object]

A short history over a long-time ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Article 3.9 review of Kyoto Protocol ,[object Object],[object Object],[object Object],[object Object]

Further Action under Convention ,[object Object],[object Object],[object Object],[object Object]

Bali Action Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Ongoing international negotiations ,[object Object],[object Object],[object Object],[object Object],[object Object]

Copenhagen Accord ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Looking forward ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Existing EU policy for 2020 ,[object Object],[object Object],[object Object],[object Object]

EU – stepping up to 30% ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Broader EU 2020 agenda ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Ireland’s GHG targets ,[object Object],[object Object],[object Object],[object Object],[object Object]

Ireland’s 2020 target in context ,[object Object],[object Object],[object Object],[object Object],[object Object]

National Policy Development ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Stakeholder input to policy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Conclusion ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Financing Climate Change - Dr Andrea Pinna, EIB - EPA CC Conference June 2010

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Financing Climate Change - Dr Andrea Pinna, EIB - EPA CC Conference June 2010