Clean Technology Fund (CTF)

To achieve its objective, the CTF work programme aims to finance transformational actions by: providing positive incentives, through public and private sector investments, for the demonstration of low carbon development and mitigation of GHG emissions; scaling-up development through funding low carbon programmes and projects that are embedded in national plans and strategies so that the diffusion and transfer of clean technologies is accelerated; realizing environmental and social co-benefits so as to illustrate the potential held by low-carbon technologies to contribute to the goals of sustainable development and the MDGs; participating in international cooperation on climate change and supporting agreement on the future of the climate change regime; utilizing the skills and capabilities of the Multilateral Development banks (MDbs) to raise and deliver new and additional resources (these will include official and concessional funding, at significant scale); and finally, sharing experiences and lessons learned while responding to the challenges of climate change. In achieving its work programme CTF’s work is centered in the following three sectors: the power sector: renewable energy and highly efficient technologies to reduce carbon intensity; the transport sector: efficiency and modal shifts; the energy efficiency sector: buildings, industry and agriculture. The CTF Trust Fund committee has approved 13 investment plans summing to US$ 4.35 billion, which leverage US$ 36 billion from recipient governments, private sector, bilateral development agencies and banks as well as multilateral development banks: Colombia, Egypt, Indonesia, Kazakhstan, Mexico, Morocco, Philippines, South Africa, Thailand, Turkey, Ukraine and viet Nam. A regional programme for scaling up concentrated solar power in the Middle East and North Africa has also been approved.Observers: UNDP, Consultative Group comprised of official bilateral donors (11 representing Australia, Austria, Denmark, Finland, France, Germany, Iceland, the Netherlands, Norway, Sweden and the United Kingdom) and multilateral institutions (WbG)