rbon friendly’ investment and financing environment to support sustainable energy development.
The International Center for Climate Governance (ICCG) estimates that today, about one in five persons lives in conditions of energy poverty. Whereas the international community is largely driving the pace and direction (priorities) of investments in clean renewable energy especially in developing countries, domestic actors, their interests and institutions in place ultimately determines how the transition (goals) will take place. The Climate and Development Knowledge Network has supported work on the concept of climate compatible development (CCD) in Kenya’s energy sector and its political economy whose analysis “usefully illustrates the conflicts, trade-offs and opportunities of simultaneously trying to reconcile poverty, mitigation and adaptation policy objectives”. News of recent oil and gas discoveries have generated a lot of excitement and coupled with the potential to slow down investment in renewable energy in the country, the country’s low carbon competitiveness is undoubtedly going to be affected. China is an example that low-carbon energy development can be done.