The Climate Investment Funds (CIF) and the International Renewable Energy Agency (IRENA) are joining forces to accelerate investment in clean energy globally as part of a new MoU. CIF and IRENA will collaborate to facilitate information sharing on energy transitions in order to support climate-smart development within the terms of the MoU. In collaboration with governments, the commercial sector, civil society, local communities, and major multilateral development banks, joint analytical initiatives will support evidence-based energy transition investment and policymaking.
The organisations wish to expand and assist climate and smart development efforts around the world. Stronger collaboration on regional and country-level aims to improve technical assistance and capacity building, remove barriers to piloting new renewable technologies, open up sustainable markets, and mobilise private sector funding for energy transformation.
In June 2021, IRENA signed a partnership agreement with Siemens Energy to work on the application of technology to advance the transition to renewable energy across the world. The two entities would work together on developing business cases for green hydrogen and promoting heat generation and industrial processes that can decarbonise hard-to-abate industries such as cement, steel and petrochemicals.
