GEF, UNEP and Partners Launch Renewable Energy Project Insurance Scheme
24 September 2009: The Global Environment Facility (GEF) and the UN Environment Programme (UNEP) are supporting an innovative mechanism for insuring renewable energy projects in developing countries. The global renewable energy insurance facility, which was launched by Munich, RSA Insurance Group (RSA) and CarbonRe, will be operated via an internet website and will offer standard and customized insurance solutions for renewable energy projects in developing countries.
Nearly one-third of global investments in renewable energy projects are happening in developing countries. This share can grow at a faster pace if insurance solutions for renewable energy projects are made extensively available to developing countries in the same way as they have been made available in industrialized ones. [insurance4renewables]