"New Global Deal" for energy policy: What role for multilateral banks and the EU?

The European Union is formally committed to keeping global climate change below a 2° Celsius increase over preindustrial temperatures. Around the world, a variety of governments and stakeholders are now arguing that this needs to become a global goal. A crucial step forward on this was taken in Gleneagles in 2005, when G8 and other participating countries asked the World Bank and other multilateral development banks to work on a Clean Energy and Development Investment Framework (referred to here as CEIF). A new paper, published by the German Forum on Environment & Development and VENRO, the association of German Development NGOs provides an analysis of the state of the debate on a global deal for 2 degrees within multilateral banks and European Union institutions, and the policy mechanisms that are needed to achieve this goal. In addition this paper makes recommendations on a new “global deal”, including the Bonn Statement that gives new crucial proposals to achieve the energy goal.