San Giorgio Group

The Landscape of REDD+ Aligned Finance in Côte d’Ivoire

January, 2017

This study identifies domestic and international public finance that limited deforestation and encouraged sustainable land use in Côte d’Ivoire in 2015. It provides a baseline against which to measure progress towards the levels of investment required to meet government goals for sustainable agriculture and reforestation. It also identifies opportunities to increase finance available for implementation of its National REDD+ Strategy. For example, greening the hundreds of billions of West African CFA francs (FCFA) spent annually on business-as-usual agriculture in the country could increase productivity without sacrificing the country’s forests.
Read More

The Landscape of REDD+ Aligned Finance in Côte d’Ivoire(1.9 MB)
Cartographie des financements alignés à la REDD+ en Côte d’Ivoire(2.0 MB)
The Landscape of REDD+ Aligned Finance in Côte d’Ivoire – English Poster(1.7 MB)
Cartographie des flux financiers alignés à la REDD+ en Côte d’Ivoire – French poster(1.7 MB)

The Role of the Climate Investment Funds in Meeting Investment Needs

June, 2016

This study’s primary aim is to identify if and where the CIF business model adds value in the landscape of climate finance and whether the CIF holds a comparative advantage in supporting climate-relevant investment needs compared to other multilateral climate funds. This report also examines the role of concessional climate finance, characterizes its main providers, and discusses where and how concessional resources are most needed to address climate investment gaps in priority sectors.
Read More

The Role of the Climate Investment Funds in Meeting Investment Needs(373.9 kb)

Estimating Mobilized Private Finance for Adaptation: Exploring Data and Methods

November, 2015

This study advances understanding of how to assess publicly-mobilized private investment in climate resilience by developing, testing and evaluating a range of methodological options to estimate the amount of private finance mobilized by developed countries’ public finance interventions for climate adaptation in developing countries.
Read More

Estimating mobilized private finance for adaptation – Executive Summary(416.6 kb)
Estimating mobilized private finance for adaptation – Exploring data and methods(1.6 MB)
Estimating mobilized private finance for adaptation – Presentation(752.4 kb)

Lessons on the Role of Public Finance in Deploying Geothermal Energy in Developing Countries

August, 2015

This report provides recommendations on the design and distribution of policymakers and development finance institutions' policy and financing tools to enable fast and cost-effective deployment of geothermal in developing countries. It draws lessons from case studies of geothermal projects with different public, private and mixed development models in Turkey, Kenya and Indonesia.
Read More

Lessons on the Role of Public Finance in Deploying Geothermal Energy in Developing Countries – Full Report(730.3 kb)

Risk Mitigation Instruments for Renewable Energy in Developing Countries: A Case Study on Hydropower in Africa

July, 2015

This study examines the effectiveness of risk mitigation instruments used in a Ugandan hydropower project in driving investment and reducing costs and examines how these instruments might be used to drive private investment in other renewable energy projects in developing countries with high investment risks. The project is one of very few to make simultaneous use of different risk mitigation instruments provided by the World Bank Group.
Read More

Risk Mitigation Instruments for Renewable Energy in Developing Countries – A Case Study on Hydropower in Africa(818.8 kb)

Using Private Finance to Accelerate Geothermal Deployment: Sarulla Geothermal Power Plant, Indonesia

June, 2015

This case study analyzes the 330MW Sarulla Geothermal Power Plant (GPP) which is on course to become the largest single contract geothermal power plant project in the world in 2018. The project has the highest private sector involvement of any geothermal project on a previously undeveloped field in Indonesia, thanks to substantial public support in the form of financing, guarantees and a feed-in tariff.
Read More

Using Private Finance to Accelerate Geothermal Deployment – Sarulla Geothermal Power Plant in Indonesia(750.4 kb)
Menggunakan Pendanaan Swasta untuk Mempercepat Penggunaan Panas Bumi, Pembangkit Listrik Tenaga Panas Bumi, Indonesiat – Ringkasan Eksekutif(149.0 kb)

Using Public Finance to Attract Private Investment in Geothermal: Olkaria III Case Study, Kenya

June, 2015

This case study looks at Olkaria III, the first privately funded and developed geothermal project in Africa to understand how the Kenyan government and international public finance are working together to attract private investment in geothermal.
Read More

Using Public Finance to Attract Private Investment in Geothermal: Olkaria III Case Study, Kenya(914.7 kb)

Public Finance and Private Exploration in Geothermal: Gümüşköy Case Study, Turkey

March, 2015

Geothermal energy holds significant promise for the development of low-carbon energy systems. One of the lowest cost sources of renewable electricity, it also has the ability to meet baseload power demand and backstop fluctuating ...
Read More

SGG Report: Public Finance and Private Exploration in Geothermal – Gumuskoy Turkey(917.2 kb)

San Giorgio Group Report: The Role of Public Finance in Deploying Geothermal – Background Paper

October, 2014

Geothermal energy is broadly cost competitive with fossil fuel alternatives even without a carbon price. However, its rate of deployment has been slower than other renewables over the last thirty years and will need to speed up rapidly if this technology is to deliver on its promise. In addition, geothermal technologies that can harness lower temperature geothermal resources need to achieve more deployment to bring costs down.
Read More

SGG Report: The Role of Public Finance in Deploying Geothermal – Background Paper(908.3 kb)

San Giorgio Group Brief: Early Lessons on Introducing Energy Performance Contracts in Italy – Milan’s Energy Efficiency Program

September, 2014

Governments around the world use energy performance contracts (EPCs) with energy service companies (ESCOs) to reduce the energy costs and carbon emissions of public buildings without any budget outlay on their part. This brief draws lessons from the first program of this kind in Italy to cover energy savings alone and introduce pure EPC on a regional scale.
Read More

SGG Brief – Early Lessons on Introducing Energy Performance Contracts in Italy – Milan’s Energy Efficiency Program(314.9 kb)

San Giorgio Group Brief: How Spain created a world-leading CSP industry then shattered investor confidence

August, 2014

Part of a series looking at the role of public finance in driving concentrated solar power (CSP) deployment and cost reductions, this report draws lessons from Spanish support policies which drove the creation of a world-leading industry and then shattered investor confidence through retroactive changes.
Read More

SGG Brief – The Role of Public Finance in CSP – How Spain created a world-leading industry then shattered investor confidence(488.1 kb)

San Giorgio Group Policy Brief: The Role of Public Finance in CSP – Lessons Learned

June, 2014

This study shows that if international finance institutions (IFIs) and committed national governments were to join forces to deploy 5-15GW of concentrated solar power (CSP), it could reduce its electricity production costs by around 14-44% and make CSP competitive in countries like Morocco and South Africa. With findings drawn from four case studies and background paper, this policy brief offers recommendations for IFIs and developing country policymakers on how to make this happen in the most cost-effective way.
Read More

The Role of Public Finance in CSP – Lessons Learned(612.6 kb)
The Role of Public Finance in CSP – Annexes for Lessons Learned(198.2 kb)

San Giorgio Group Case Study: Eskom CSP 100MW plant, South Africa

June, 2014

The 100 MW Eskom CSP power tower plant being developed in Upington by Eskom, South Africa’s state-owned electricity utility, is one of the most technically challenging of its kind under development outside of the US. It brings higher potential for cost reduction, building up local supply chains and promoting energy security than other CSP project currently under development in the country.
Read More

SGG Case Study: The Role of Public Finance in CSP – Eskom CSP 100MW plant, South Africa(935.8 kb)

San Giorgio Group Case Study: The Role of Public Finance in CSP – Rajasthan Sun Technique 100MW CSP plant, India

March, 2014

The 100MW Rajasthan Sun Technique CSP plant is not only the first linear Fresnel CSP plant in India and the largest in the world, it is also one of the cheapest large-scale CSP plants ever built. This case study finds that while Indian solar policy was essential to build this innovative plant it was not enough for India to deploy CSP plants at the desired level and speed.
Read More

SGG Case Study The Role of Public Finance in CSP – Rajasthan Sun Technique, India(679.7 kb)

San Giorgio Group Brief: The Role of Public Finance in CSP – Background and Approach to Measuring Effectiveness

January, 2014

Many experts and international institutions expect concentrated solar power (CSP) to supply up to 10% of global energy demand by 2050. However, today CSP’s costs remain above alternative sources of power and public finance is needed to bridge this gap: over 98% of the total investment in CSP to date has needed some form of public support. This brief, the first in series of reports on CSP, looks at the global landscape of CSP in terms of markets, technology, financing models, and policies to better understand how to structure effective and cost-effective public policies and investments.
Read More

SGG Brief – The Role of Public Finance in CSP: Background and Approach to Measure its Effectiveness(690.0 kb)

San Giorgio Group Case Study: Insights from Nepal’s Pilot Program for Climate Resilience

December, 2013

In this San Giorgio Group Case Study, Climate Policy Initiative studies the Pilot Program for Climate Resilience to highlight early lessons from a project engaging private actors in building the resilience of Nepal's agricultural sector. The overarching goal of this project is to establish models for climate-smart agriculture that make climate resilience a business proposition for the private actors involved, long beyond the project's life.
Read More

SGG Case Study – Pilot Program for Climate Resilience in Nepal(1.2 MB)

San Giorgio Group Case Study: Kalimantan Forests and Climate Partnership

November, 2013

Emissions from deforestation and forest degradation make up nearly one fifth of global greenhouse gas emissions and the estimated costs of halving emissions from deforestation and forest degradation by 2030 far exceed available public resources. This case study analyzes the Kalimantan Forests and Climate Partnership project in Indonesia to see what it can teach policymakers and investors about rehabilitating degraded peatland effectively, and what barriers need to be overcome to attract private investment at scale.
Read More

SGG Case Study – Lessons from the Kalimantan Forests and Climate Partnership(589.5 kb)

Mapping the World Bank Group Risk Mitigation Instruments for Climate Change

September, 2013

In this study, CPI provides an overview of general risk coverage offered through the WBG's various member institutions, potential gaps compared to existing demand, and trends of risk coverage commitments for climate change.
Read More

World Bank Group Risk Mitigation Instruments for Climate Change Brief(407.4 kb)
World-Bank-Group-Risk-Mitigation-Instruments-for-Climate-Change-Fact-Sheet(200.6 kb)
World-Bank-Group-Risk-Mitigation-Instruments-for-Climate-Change-Presentation-Slides(5.5 MB)

San Giorgio Group Case Study: Jädraås Onshore Windfarm

September, 2013

CPI describes how a combination of public policies and financial instruments, and robust private risk management measures mobilized EUR 360 million of private investment in Scandinavian Europe’s largest windfarm, delivering power to 100,000 homes.
Read More

Jadraas Onshore Windfarm – SGG Case Study(1.1 MB)

Risk Gaps

January, 2013

Risk — whether real or perceived — is the single most important factor preventing renewable energy projects from finding financial investors, or raising the returns that these investors demand. It is also one thing that policymakers can cause, control, alleviate, or help mitigate. In a series of three studies, titled Risk Gaps, CPI maps the availability of risk instruments against demand and analyzes several new, potential instruments designed to address the biggest gaps: first-loss protection instruments and policy risk insurance.
Read More

Risk Gaps: Executive Summary(589.8 kb)
Risk Gaps: A Map of Risk Mitigation Instruments for Clean Investments(878.0 kb)
Risk Gaps: Policy Risk Instruments(778.4 kb)
Risk Gaps: First-Loss Protection Mechanisms(798.7 kb)

Effective Green Financing: What have we learned so far?

December, 2012

Overall, while policies and public resources are affecting the performance of investments in ways consistent with low carbon growth, more action is required to help private actors overcome real and perceived risks — in developing and developed markets — and deliver green investments at large scale.
Read More

Effective Green Financing – What have we learned so far?(383.3 kb)

Global Landscape of Climate Finance 2012

December, 2012

Global annual investment to curb climate change reached approximately USD 364 billion in 2010/2011. This amount, while significant, falls short of most estimates of investment needed to limit global warming to two degrees Celsius.
Read More

The Landscape of Climate Finance 2012(1.5 MB)
The Landscape of Climate Finance 2012 – Executive Summary(216.9 kb)
Lanscape of Climate Finance 2012: webinar presentation(1.2 MB)

San Giorgio Group Case Study: Ouarzazate I CSP

August, 2012

Ouarzazate I is a 160MW Concentrated Solar Power plant in Morocco, generously supported by a subsidy from the Government of Morocco and concessional capital from international development banks. Ouarzazate I only makes economic sense if it contributes to the development of a commercially-sustainable regional Concentrated Solar Power market. Projects like Ouarzazate I play a crucial bridging role but, in order to scale-up projects like these, costs need to fall and revenues need to grow.
Read More

Ouarzazate-I-CSP(1.2 MB)
Ouarzazate-I-CSP-Morocco-Case-Study-Summary-Poster(207.5 kb)
Ouarzazate-I-CSP-Update(607.8 kb)

Public Climate Finance: A Survey of Systems to Monitor and Evaluate Climate Finance Effectiveness

July, 2012

This paper examines the M&E systems applied by a selection of eight multilateral and bilateral intermediaries, as well as the United Nations Framework Convention on Climate Change reporting framework. It was originally developed as a background paper for ‘Improving the Effectiveness of Climate Finance: Key Lessons’, a joint study by a consortium of researchers from Environmental Defense Fund, Climate Policy Initiative, Brookings Institution, and Overseas Development Institute on the topic of the effectiveness of climate finance published in November 2011.
Read More

Public Climate Finance – Survey(1.0 MB)

San Giorgio Group Case Study: Walney Offshore Windfarms

June, 2012

Walney Offshore Windfarms (WOW) in the U.K., the largest offshore windfarm in the world in 2012, faced financing challenges because of the risks associated with this immature though promising technology and the escalating European debt crisis. Through a combination of U.K. policy support and innovative financial engineering, the project was successful in attracting nontraditional investors including a pension and a private equity fund.
Read More

Walney-Offshore-Windfarms(1.1 MB)

San Giorgio Group Case Study: Prosol

June, 2012

Program Solaire (Prosol) is an incentive program that promotes residential solar water heaters in Tunisia. In the early 2000s, the deployment of solar water heaters remained low due to fossil fuel subsidies. The Tunisian government had attempted to discontinue the fossil fuel subsidies, but a public outcry caused policymakers to abandon this course of action.
Read More

Prosol-Tunisia-SGG-Case-Study(1.4 MB)

The San Giorgio Group Inaugural Meeting: Proposed Analytical Program

January, 2012

On October 16th and 17th, 2011, Climate Policy Initiative (CPI) and the World Bank Group, in collaboration with China Light & Power (CLP) and the Organization for Economic Co-operation and Development (OECD), hosted the inaugural meeting of the San Giorgio Group (SGG).
Read More

SGG Inaugural(192.8 kb)

Improving the Effectiveness of Climate Finance

November, 2011

A joint study by Environmental Defense Fund, Climate Policy Initiative, Brookings Institution, and Overseas Development Institute.
Read More

Improving the Effectiveness of Climate Finance: A Survey of Leveraging Methodologies(673.9 kb)
Improving Effectiveness of Climate Finance: Key Lessons(738.3 kb)

The State of International Climate Finance: Is it Adequate and Is It Productive?

December, 2010

On the 14th of October 2010, Climate Policy Initiative (CPI) and the International Center for Climate Governance (ICCG) in collaboration with the Euro-Mediterranean Centre for Climate Change (CMCC) hosted a workshop to convene key players in climate finance. The workshop provided a platform for policymakers and experts from research organizations and finance institutions active along the spectrum of public and private finance issues to initiate a concrete dialogue on climate finance.
Read More

Workshop-Report-State-of-International-Climate-Finance1(737.6 kb)