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COP15: Global investment fund for Renewable Energy needed

The International Renewable Energy Alliance (REN Alliance) has called for renewable energy to be at the forefront of the post-2012 climate action regime in its COP15 policy statement.

The REN Alliance COP15 policy statement Scaling-Up for a Renewable Future says that the Kyoto mechanisms become more straightforward for project development and the programmatic approaches are centred on progressing renewable energy systems.

The policy statement demands that significant reform is required to make the Kyoto Mechanisms, especially the Clean Development Mechanism (CDM), more effective by removing unnecessary complexity and improving the consistency of the process, especially for projects in developing countries.

The programmatic approaches, especially the proposed National Appropriate Mitigation Actions, require the Global Fund to drive feed-in tariffs, recognise storage services and promote the strategic development of renewable energy systems for power, heat and transport, The REN Alliance said.

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