Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-03-12-Speech-3-385"
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"en.20080312.25.3-385"2
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"Mr President, the Commission proposal for a Global Energy Efficiency and Renewable Energy Fund (GEEREF) is, of course, welcome. It is vital that energy efficiency and renewable energy play an increasing role in developing and emerging countries for a wide range of reasons – lowering carbon dioxide emissions, cutting energy supply dependence, tackling energy poverty and creating jobs and development opportunities – indeed, for all the same reasons that it is vital that energy efficiency and renewable energy play an increasing role here in the EU.
But I have a number of concerns about the Commission proposal. Firstly, the funding proposed is extremely modest for the scale of the project. EUR 15 million a year of public funding is peanuts – even as a seed capital intended to attract and underwrite private investment. It could easily be swallowed up by just a couple of projects in the larger, emerging countries such as China or India. Although the Commission communication speaks about the possibility of attracting co-financing from the 9th European Development Fund (EDF), it is not all clear how decisions will be made on allocating the budget between the ACP countries, on the one hand, and the more developed and advanced non-EU eastern European countries supported by co-financing from the European Bank for Reconstruction and Development (EBRD). As a result, it is not all clear how the fund will contribute to poverty reduction. It seems to be rather a macro-fund than a micro-fund, designed to attract private finance in support of projects which, though they are relatively small by European standards, would be large in terms of many African countries. It is not clear how GEEREF financing is going to filter down to Community-level projects such as PV panels for health centres and schools or solar cookers and water heaters. It is grass-root development which generally does the most to improve the lives of the poorest people.
Finally, I am concerned that the relationship between the fund and the Clean Development Mechanism (CDM) has not been clearly explained. It would be helpful if the Commission could indicate how the fund is going to improve developing country access to the CDM."@en1
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