Final Program Evaluation: Environmental Cooperation-Asia Clean Development and Climate Program Final Report, Part 1
This assessment report reviews the Environmental Cooperation-Asia, Clean Development and Climate Program (ECO-Asia CDCP) to analyze the program performance and effectiveness against its goals, objectives, and performance targets. The program has worked since 2006 to scale up clean energy investment, address energy challenges, and reduce greenhouse gas emissions. The program works in five countries – China, India, Indonesia, the Philippines, Thailand, and Vietnam – throughout five substantive areas: 1) private sector financing, 2) financing for energy-efficiency projects, 3) energy efficient lighting, 4) regional policy and regulatory dialogue, and 5) regional knowledge-sharing.
The ECO-Asia CDCP project’s importance centers around the fact that the region’s carbon dioxide emissions are expected to increase by 300 percent over the next 30 years, which will have major implications for global climate change as well as countrywide issues. According to the report, one overarching conclusion is that “over the past two years, ECO-Asia CDCP has made substantial progress. By investing $2 million, it has leveraged more than $200 million for investments (for a ratio of more than 100:1), with a capacity to produce nearly 100 MW of clean energy.”
Excerpt from the report:
Technical results—Lessons Learned
Private Financing: -- PFAN- Asia
Working through PFAN-Asia, ECO-Asia CDCP has generated a model to bridge the gap between clean energy project development entrepreneurs and financial investors. By helping to introduce project developers to potential investors (and by developing a somewhat revised model), the program has pioneered a new model for the delivery of development assistance to address clean energy priorities, and mitigate emissions of GHGs. Pioneering a specific model such as PFAN was not part of the program’s initial objective, although it fits within the broader objectives of the program. This new model may have the potential to be scaled up dramatically across Asia. An important lesson is that RDMA should be somewhat opportunistic in urging its contractors to look for such opportunities, and perhaps not set nominal benchmarks too narrowly. A related lesson learned may be that for some of its programs RDMA should adopt the approach of venture capitalists, who bet on several ventures (i.e., program components) in the hope that one or two of them may pay off big. This seems to have been the case for ECO-Asia CDCP, which bet on PFAN-Asia, and seems to have won handily.