The Swedish Energy Agency has announced that it is supporting new climate projects in developing countries under its Programme for International Climate Change Mitigation. The programme already supports over 95 international climate projects, focusing mainly on renewable energy and energy efficiency, and developed primarily under the Kyoto Protocol's Clean Development Mechanism (CDM).
The activities supported by the programme should be replicable for lasting mitigation impacts, as well as bring meaningful sustainable development benefits. Furthermore, the mitigation outcome of the activities needs to be measurable in tonnes of carbon dioxide equivalent.
The CDM has proven to be the ideal vehicle to meet these objectives, not least thanks to its results-based finance component.
Mr Ola Hansén, head of International Climate Change Mitigation Unit:
Our programme demonstrates how result-based climate finance can lead to climate change mitigation and the transition to a low-carbon development.
Since 2002, the Swedish Energy Agency has actively engaged in the development of international flexibility mechanisms to mobilize finance for mitigation under the UN Framework Convention on Climate Change and its instruments.