De-risking Instruments for Energy Efficiency Investments in Asia and the Pacific 5 December 2023 ADB is supporting the design of a pilot to implement financial de-risking instruments for energy efficiency investments for selected developing countries in Asia and the Pacific, starting with India and the Philippines. This project is supported by the multi-donor trust fund, Asia-Pacific Climate Finance Fund (ACliFF), which aims to support the development and implementation of financial risk management products that can help unlock capital for climate investments. Related to this initiative, the following meetings and workshops were organized: Philippines 5 December 2023. ADB organized the workshop with the Philippine Department of Energy (DOE) and other key stakeholders on combining de-risking instruments, such as credit and performance guarantees, and insurance, with energy efficiency financing. 28 May 2024. The final consultation workshop discussed the outcomes of the scoping study and the emerging structure for financial de-risking instruments. India 20 February 2024. Co-organized by ADB and OECD, the workshop was organized to support the India Bureau of Energy Efficiency in enhancing the policy environment for energy efficiency investment, fostering dialogue, and building capacity to develop energy savings insurance in India in particular, accelerating India's National Mission for Enhanced Energy Efficiency (NMEEE) and meeting India’s Updated First Nationally Determined Contributions (NDC). 23 February 2024. The stakeholder workshop gathered private insurance companies for a market scoping of energy efficiency (EE) financial de-risking instruments that can be piloted under ADB’s TA funded by the Asia-Pacific Climate Finance Fund (ACliFF). Program and Learning Materials 05 December 2023 20 February 2024 23 February 2024 28 May 2024 Session / Activity Title Speaker(s) Agenda Concept Note and Agenda The half day stakeholder workshop was organized to kick-off the study on de-risking instruments for energy efficiency investments in the Philippines… Presentation Derisking Instruments for Energy Efficiency in the Philippines Presentation on energy efficiency investment opportunities, barriers in implementation, and the national determined contribution (NDC) commitments… Workshop Proceedings Workshop Proceedings All the participants were in favor of designing and implementating a pilot testing the introduction of de-risking instruments in a specific energy… Session / Activity Title Speaker(s) Agenda Agenda The workshop aimed to delve into India's commitment to enhance energy efficiency, and explore the potential for expanding energy efficiency… Opening Session Welcome and Opening Remarks Geraldine Ang, Senior Policy Analyst, OECD Opening Session Opening Remarks The welcome remarks emphasized the importance of collaboration with the insurance industry to de-risk climate-related projects and highlighted ADB's… Christine Engstrom Opening Session Keynote Address Abhay Bakre, Director General, Bureau of Energy Efficiency Part I: ADB Component - De-Risking Instruments for Energy Efficiency Investments in India Context Setting Remarks Thomas Kessler, Principal Finance Specialist, ADB Session 1: The Role of Energy Efficiency De-Risking Instruments in Improving the Access to Finance in India The session focused on energy efficiency finance solutions and key barriers and potential opportunities in the market. Thomas Kessler (ADB) (Moderator), P Shyam Sundar (BEE), Abhishek Gupta (EESL), Sanjay Dube (IIEC), Ravi Kaushal (SBI), and Reena Kori (IDAM) Session 2: Lessons from Finance and Insurance Industry Experts on Design and Implementation of Energy Efficiency De-Risking Instruments The session provided insights on the challenges and opportunities in designing and implementing energy efficiency de-risking instruments, highlighting collaboration, information sharing, and tailored financial solutions Sanjay Dube (IIEC) (Moderator), Arup Chatterjee (ADB), Ankur Gupta (Munich RE), Anant Bhardwaj (AU Small Finance Bank), Gaurav Jain, (AXA France VIE– India), and Sunil Sharma (Darashaw & Co) PART – II: OECD Component Unlocking Energy Savings Insurance (ESI) in India Session 1: Introduction to ESI in India The session explored the ESI market landscape in India and presented barriers and opportunities in SME clusters. Geraldine Ang (OECD) (Moderator), Cornelia Schenk (OECD), Manoj Kumar (UNEP), Anil Choudhury (EESL), Livia Miethke (BASE), Rajiv Kumar from (SIDBI), and M.A. Patil (FICCI) Session 1: Introduction to ESI in India Energy Savings Insurance - Helping SMEs to access financing for Green Technology Investments The presentation discusses the Energy Savings Insurance (ESI) Model. Livia Miethke Morais Session 1: Introduction to ESI in India Energy Efficiency in MSMEs - Barriers and Opportunities The presentation provides an overview of MSMEs in India and discusses the impact of climate change and challenges to low carbon transtion facing… Rajiv Kumar Session 1: Introduction to ESI in India Opportunities and Barriers for Introducing Energy Savings Insurance (ESI) in SME Sector The presentation discusses learnings from the FICCI project on scaling up investments in 3 MSME clusters by developing Standard Energy Efficient… M.A. Patil Session 2: Focus Group Discussion on How to develop Energy Savings Insurance (ESI) in India The session discussed readiness of the Indian market for energy efficiency financing and the implementation of an Energy Savings Insurance (ESI) model. Moongyung Lee (OECD) (Moderator), Bhaskar Natarajan (AEEE), Inderjit Singh (GIC), Pradeep Kumar (PFC), Anurag Mishra (GCF), and Rajiv Kumar (SIDBI) Concluding Remarks and Next Steps The session noted that positive and optimistic view of the ESI model's potential in India Geraldine Ang, Senior Policy Analyst, OECD Workshop Proceedings Workshop Proceedings In summary, the overall tone of the session was positive and optimistic regarding the Energy Savings Insurance (ESI) model's potential to propel… Session / Activity Title Speaker(s) Presentation Session / Activity Title Speaker(s) Agenda Concept Note: Final Consultation Workshop on Financial de-risking instruments for energy efficiency in the Philippines The consultation workshop will focus on discussing the outcomes of the scoping study and the emerging structure for the financial de-risking… Welcome Remarks Christine Engstrom, Senior Director, ADB Remarks from the Philippine Department of Energy Patrick T. Aquino, Director, Department of Energy Context Setting David Morgado, Senior Energy Specialist, ADB Findings of scoping study on de-risking instruments for the energy efficiency market Presentation: Final Consultation Workshop on Financial de-risking instruments for energy efficiency in the Philippines The presentation discusses the findings of the scoping study on de-risking instruments suitable for the energy efficiency market in the Philippines… Sanjay Dube Open discussion and summary Sanjay Dube Closing Remarks Arup Chatterjee, Principal Finance Sector Specialist, ADB Disclaimer The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Event Coordinator/s Thomas Kessler David Morgado ADB Organizer/s Finance Sector Office Energy Sector Office Topics Energy Finance