Improving the Investment Climate for Renewable Energy : Through Benefit Sharing, Risk Management, and Local Community Engagement
The report, a joint effort between the World Bank’s Social Development Global Practice and International Finance Corporation (IFC) advisory services, is based on the idea that local engagement, for example, through benefit sharing, is an important...
| Main Authors: | , |
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/436351574916190205/Improving-the-Investment-Climate-for-Renewable-Energy-Through-Benefit-Sharing-Risk-Management-and-Local-Community-Engagement http://hdl.handle.net/10986/32748 |
| Summary: | The report, a joint effort between the
World Bank’s Social Development Global Practice and
International Finance Corporation (IFC) advisory services,
is based on the idea that local engagement, for example,
through benefit sharing, is an important way for better risk
management and creating a more enabling environment for
renewable energy development. It finds that the underlying
causes of the conflicts are diverse, complex, and dynamic:
influencing factors include historical struggles over
poverty and inequality, land ownership, mistrust in public
and private institutions, a lack of free, prior and informed
consultations (FPIC) before investment flows into the region
and oftentimes a missing legal framework for benefit
sharing. The study provides recommendations on how to
improve the investment climate for renewable energy and wind
energy, in particular, through benefit sharing, risk
management, and local community engagement. Integrating
communities through FPIC or benefit sharing mechanisms is
costly - but the cost of not integrating communities and of
failed projects is even higher. |
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