Building on its two decades of experience in financial innovations to drive investments in sustainable energy, BASE expanded its mandate to include all climate change solutions in 2021.
Since its founding in 2001, BASE and its diverse network of partners have engaged with different countries and sectors to accelerate progress towards universal access to clean, efficient, and modern energy services while addressing climate change and inequalities. Wrapping up its 20 years celebration, BASE released a detailed report that brings together its projects, publications, toolkits, and events. Over the years, these efforts have pushed BASE closer to its vision of designing actionable financial strategies and business models to unlock investments in sustainable energy. Leading up to the report’s launch, BASE released a video series that included conversations with its founders, and stories of important project milestones.
“BASE has developed and put into place new financing mechanisms that show what can be done when creativity meets need. From devising clever ways through which remittances can be directed to finance climate friendly appliances, to creating energy savings insurance products, to reframing the old idea of purchase of cooling products with a service model approach, BASE has been a consistent innovator of sustainable energy and climate finance solutions.”
Mark Radka, Head of UN Environment Programme’s Energy and Climate Branch
The report further announces the broadening of BASE’s mandate to all climate solutions. In 2021, BASE started applying its expertise in designing innovative financial and business models that help overcome key market barriers to investments in the areas of adaptation and resilience, land use, and circular economy. The report’s launch, which highlights how financial mechanisms need constant rethinking and innovation based on the context, comes at a time when there has been a growing focus on the need for substantial investments in climate solutions to meet the goals of the Paris Agreement. Strengthening the global response to climate change requires moving from grants and funding that have a one-time benefit to financial mechanisms that are self-sustaining and unlock greater public and private investment. This thought informs our roadmap for the future. Armed with lessons from previous projects, BASE’s venturing into new waters further reflects the need to increase ambition and action on adaptation, loss, and damage, as discussed at COP26.
