Our work with Development Finance Institutions
Reconfiguring Energy for Post-COVID-19 Development (ReCODE)
As a sub-project in ReSET, the ReCODE project aims to explore the role of development finance institutions (DFIs) in renewable energy investments that strengthen socio-economic recovery post the COVID-19 pandemic. COVID-19, Russia’s war on Ukraine, and various other crises have triggered a global socio-economic and political crisis. These crises have shifted the position and mandate of DFIs. They are expected to contribute meaningfully to the “build back better” mission. DFI funding of post-COVID-19 and other crisis recovery programmes means they have become key players in the financing of the just energy transition that the pandemic has helped to accelerate.
A different approach to building back better
Our aim is to illuminate how investments in renewable energy can be leveraged to achieve just transition outcomes (including reduced inequalities and poverty eradication).
We will focus on the role of DFIs in realising a just energy transition. This will mean exploring, in partnership with DFIs, how the COVID-19 pandemic and other crises have resulted in a change in the way DFIs approach investments in particular renewable energy projects and the just energy transition in general.
We have collaborated with the International Development Finance Club (IDFC) and the Development Bank of Southern Africa (DBSA) to engage around key issues that public development banks encounter in financing the energy transition, particularly one with justice outcomes. In association with the IDFC and DBSA, we presented our work at COP27 in November 2022