£2.5 million in UK funding for Renewable Energy PartnershipThursday 20 March 2008 10:24
Department for Environment, Food And Rural Affairs (National)
£2.5 million in UK funding for Renewable Energy Partnership
The UK will remain the world's leading donor to the Renewable Energy and Energy Efficiency Partnership (REEEP), with £2.5 million in funding for the coming year announced by UK Energy Minister Energy Malcolm Wicks in Japan this week.
UK Environment Minister Phil Woolas said that the funding would form part of a 3-year further financial commitment to REEEP by the UK. The UK has contributed nearly £9m to the Partnership since its inception in 2003.
Mr Woolas said:
"The world needs to shift to a low carbon economy, and it needs to do it quickly. This week's Budget showed that we in the UK are serious about moving to low carbon growth within our own borders - and this funding, alongside our other financial commitments to low carbon development, shows that we're serious about putting in place the right conditions to support other countries as well.
"Driven by funding and support from the UK, REEEP has become one of the most successful partnerships of the World Sustainable Development Dialogue. It has implemented a wide range of projects that are helping to scale up investment in renewable energy and energy efficiency, and it has developed a network that enables success and best practice to be quickly replicated and scaled up so that it can make an even bigger impact.
"This is exactly the sort of catalyst for change we need if we are to meet the immense challenges ahead."
Since its inception in 2004, REEEP has grown significantly with other donors, including Norway and Australia, also contributing substantially to the Partnership's programmes and activities. REEEP's successes have been recognised in the last three G8 communiques as making a significant contribution to the deployment of low carbon technology in developing countries.
REEEP is an international alliance of governments, NGOs and businesses dedicated to accelerating and expanding the global market for renewable energy and energy-efficient technologies. It focuses on reducing carbon emissions, improving energy security and ensuring access to clean energy.
REEEP is dedicated to the development and support of legislative, regulatory and financial frameworks that stimulate renewable energy and energy efficiency markets. It is active globally, with a wide portfolio of on-the-ground projects targeting the development of policy, finance and business models that can be replicated by governments and project developers worldwide. The partnership has more than 200 members, with more than 35 government partners including all the G7.
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