IFC Launches Website and Brochure for China Energy Efficiency Finance Programme
May 2012: The International Finance Corporation (IFC), a member of the World Bank Group, has launched a new website and brochure on the China Utility-Based Energy Efficiency Finance Program (CHUEE) to promote a market-based solution to China's energy efficiency challenges.
CHUEE was organized in 2006, with support from the Global Environment Facility (GEF) and others, with the goal of using market solutions to cut 20 million tons of carbon dioxide and other greenhouse gas emissions per year by the end of 2012. The program functions by paving the way for collaboration among banks, utility companies, government agencies, and other institutions, to use effective sustainable financing models and share risks to implement clean energy projects. By the end of 2011, CHUEE exceeded its target financing goals by receiving approximately US$700 million in loans to finance over 160 renewable estimated to reduce 18 million tons of carbon dioxide emissions annually. [CHUEE Website] [CHUEE Brochure]