"Energy poverty is still high in many developing countries. Without commitment of the private sector this gap cannot be closed." This is how Andrea Hagmann and Michael Wancata, members of OeEB's executive board, describe the challenges for climate finance in view of the UN Climate Change Conference.
More than one billion people worldwide still do not have access to electricity. However, especially emerging and developing countries see the highest increase in energy demand. "It is indispensable to focus on renewable energy from the beginning. Only this way, sustainable growth which balances development and climate protection can be achieved," emphasise Hagmann and Wancata.
In 2015, OeEB financed renewable energy and energy efficiency projects with a total volume of EUR 84 million. More than 40% of OeEB's portfolio contribute to climate protection. With these projects, OeEB also makes an important contribution to the international climate finance provided by the Republic of Austria.