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Bureau of Energy Efficiency (BEE) • Computation of baseline
• Determination of target reduction
Obligated entities • Installation of energy efficiency measures
Designated energy auditors (DENA) • Third party verification of savings by accredited auditors
• Determination of savings
BEE and EESL (Energy Efficiency • Certification of ESCerts eligible projects
Services Limited) • Issuance of ESCerts
Power Exchange (PXIL and IEX) • Trading of ESCerts
BEE and EESL • Tracking ownership of ESCerts
• Retirement of ESCerts
Source: Adapted from Bhattacharya and Kapoor (2012)
The important question for future policies for incubation is how
existing market mechanisms on energy efficiency and renewable
energy in India can be coordinated with an emissions trading system,
especially to avoid double counting.
2.2.5 International Climate Finance 3.2
The international climate finance architecture comprises actors,
including the donor countries, recipient countries, multilateral
organizations, bilateral organizations, and the private sector. The
architecture of international climate finance is depicted in Figure 2.3.
One such international fund established to provide deeply
concessional funding to promote low-emission and climate resilient
development in eligible developing countries is the Green Climate
Fund (GCF). GCF was established on December 11, 2010, in Cancun,
Mexico. Under the UNFCCC, developed country heads of state formally
committed to jointly mobilize USD 100 billion per year by 2020 to advance
the global paradign shift towards low-emission and climate resilient
development pathways (Green Climate Fund 2015). GCF is a step taken
to achieve that goal. It places equal emphasis on allocating its resources
for adaptation as well as mitigation. Total pledges of contributions
to the fund is USD 10.2 billion equivalent so far. Till April 30, 2015,
USD 4 billion equivalent has been signed in contribution, representing
42 per cent of the amount that was committed during the fund’s initial
pledging conference in 2014 (GCF Press Release 2015). As soon as at
least 50 per cent of the total amount pledged at GCF’s High-Level
Pledging Conference in Berlin in November 2014, i.e., USD 4.7 billion
equivalent is available, the Fund is authorized to allocate resources
and start having any positive impact on the global climate.
Chapter 2 Innovative Financing for Low Carbon Development 271
• Determination of target reduction
Obligated entities • Installation of energy efficiency measures
Designated energy auditors (DENA) • Third party verification of savings by accredited auditors
• Determination of savings
BEE and EESL (Energy Efficiency • Certification of ESCerts eligible projects
Services Limited) • Issuance of ESCerts
Power Exchange (PXIL and IEX) • Trading of ESCerts
BEE and EESL • Tracking ownership of ESCerts
• Retirement of ESCerts
Source: Adapted from Bhattacharya and Kapoor (2012)
The important question for future policies for incubation is how
existing market mechanisms on energy efficiency and renewable
energy in India can be coordinated with an emissions trading system,
especially to avoid double counting.
2.2.5 International Climate Finance 3.2
The international climate finance architecture comprises actors,
including the donor countries, recipient countries, multilateral
organizations, bilateral organizations, and the private sector. The
architecture of international climate finance is depicted in Figure 2.3.
One such international fund established to provide deeply
concessional funding to promote low-emission and climate resilient
development in eligible developing countries is the Green Climate
Fund (GCF). GCF was established on December 11, 2010, in Cancun,
Mexico. Under the UNFCCC, developed country heads of state formally
committed to jointly mobilize USD 100 billion per year by 2020 to advance
the global paradign shift towards low-emission and climate resilient
development pathways (Green Climate Fund 2015). GCF is a step taken
to achieve that goal. It places equal emphasis on allocating its resources
for adaptation as well as mitigation. Total pledges of contributions
to the fund is USD 10.2 billion equivalent so far. Till April 30, 2015,
USD 4 billion equivalent has been signed in contribution, representing
42 per cent of the amount that was committed during the fund’s initial
pledging conference in 2014 (GCF Press Release 2015). As soon as at
least 50 per cent of the total amount pledged at GCF’s High-Level
Pledging Conference in Berlin in November 2014, i.e., USD 4.7 billion
equivalent is available, the Fund is authorized to allocate resources
and start having any positive impact on the global climate.
Chapter 2 Innovative Financing for Low Carbon Development 271
