Even though unit costs for renewable energy have fallen sharply, there’s clearly more finance needed for mitigation and adaptation. The least developed countries still don’t have the technologies they need. Can the private sector deliver, or should governments and the UN intervene, asks Silvia Weko An idea which was often repeated at the UN intersessional in Bonn this month was that “if there’s a market case, the funding will follow.” Therefore, the private sector should be given a prominent seat at the table. This idea was vehemently opposed by some civil society actors who see multinational corporations as wolves in sheep’s clothing. They suspect that the corporations only want to continue business as usual, and involving them is a trap. Carolina Schmidt, incoming president of the Chilean delegation, reassured NGOs that this December’s COP25 will only engage with private sector actors who “show real ambition” and will be a “Citizens’ COP”. The market case for clean energy Clearly, the private sector has become aware of the business case for renewable energy over the past years. … Continue reading Public problems, private solutions? The UN addresses the climate technology gap