The joint goal of GIIC and TWI is to create investment structures that meet the risk and yield requirements of institutional investors, and the promotion of suitable financial instruments that will accelerate investment in solar to the capital levels the International Solar Alliance is seeking to achieve. FICCI along with 11 other organizations formed the Green Infrastructure Investment Coalition. The Coalition aims to bring together investors, governments and development banks to help increase the flow of institutional investor capital to green infrastructure investments around the world. In January 2016, FICCI signed a MoU with Terrawatt Initiative (TWI) seeking for a global common market of affordable solar power.
Accelerating solar and other low carbon finance opportunities requires institutional investors, including insurance companies and pension funds to work with stakeholder groups in establishing common goals. In this reference, a strategic alignment driven by the partnership between TWI and the GIIC around ISA solar objectives is a signal to global investors around the massive opportunities in solar energy and long term solar commitments. In the run- up to this, FICCI under the aegis of GIIC and in partnership with the Climate Bonds Initiative is organizing high-level roundtable sessions to discuss the practical aspects of accessing international Green Finance pools, with a specific focus on Green Bonds in Renewable Energy, Energy Efficiency and Smart Cities.
As one of the founding members of GIIC, Fiona Reynolds, CEO of PRI, a leading international responsible investment organisation reaffirmed that PRI is committed to supporting signatories who are looking to address climate change in their portfolios. In transitioning to a low carbon environment, a move towards green infrastructure investments is a sensible response for investors. The PRI believes that the Green Infrastructure Investment Coalition can bring solar investment opportunities and investors together and become a key component of a low carbon investment strategy. Mindy Lubber, President, Ceres and Director of INCR said that Scaling up global investment in solar power is critical to achieving the Clean Trillion goal of expanding clean energy investment by an additional $1 trillion per year -- the level needed to achieve the Paris Agreement's goal of limiting warming to well below two degrees Celsius. Through this important new initiative solar power deals can be structured to provide attractive investment opportunities that meet the needs of institutional investors.
Shaun Tarbuck, CEO of ICMIF an insurance federation representing insurers in 70 countries, with collectively, US$9 trillion under management and one of the founding members of GIIC stated that Accelerating solar finance opportunities requires institutional investors, including insurance companies and pension funds to work with stakeholder groups in establishing common goals. Having alignment between the Terrawatt Initiative and the GIIC around ISA solar objectives is a signal to global investors around long term solar commitments.
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