Publication

Improving the Investment Climate for Renewable Energy: Through Benefit Sharing, Risk Management, and Local Community Engagement

Aug 17, 2019

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.

Topics

Community Investment and Partnerships Gender Indigenous Peoples Local Supplier Development Stakeholder Engagement Sustainable Livelihoods and Skills Building Water and Communities

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Improving the Investment Climate for Renewable Energy: Through Benefit Sharing, Risk Management, and Local Community Engagement

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Africa
East Asia and Pacific
Europe and Central Asia
Latin America and Caribbean
Middle East and North Africa
North America
South Asia

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Infrastructure
Natural Resources

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Publication

Improving the Investment Climate for Renewable Energy: Through Benefit Sharing, Risk Management, and Local Community Engagement

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Improving the Investment Climate for Renewable Energy: Through Benefit Sharing, Risk Management, and Local Community Engagement

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Related Content

IFC 2012 Guidance Note 1: Assessment and Management of Environmental and Social Risks and Impacts

Global Youth Wellbeing Index 2017

Report of the TSM Tailings Review Task Force

The Role of Indigenous People in Major Project Development: Paths for Indigenous Participation in Electricity Infrastructure