Denmark’s Energi Savings Insurance, a green energy insurance project being developed in connection with the Inter-America Development Bank, has just received a donation of 130 million kroner from the Green Climate Fund.
The project, which targets small and medium businesses in Latin America, aims to provide them a measure of certainty that their investments in green energy pay off through lower energy bills.
Solving the climate challenge
The minister for energy, utilities and climate, Lars Christian Lilleholt, said he believed it was crucial to get the private sector involved in helping tackle climate change.
“The project is a prime example of how Denmark uses public funds to mobilise large amounts of private investments to benefit the climate. We do this because it is crucial to get the private sector involved if we are to solve the climate challenge,” he said.
Courage to change
The foreign minister Kristian Jensen echoed the sentiment.
“This is an innovative project where we provide companies in the developing world security and therefore the courage to invest in energy-efficient equipment,” he said.
“It is absolutely essential if we are to meet the new goals laid out in the Paris Agreement.”