The role of green financing on the global markets will substantially increase over the next years. Poland, intending to attract foreign investors, must provide a stable regulatory framework for renewable energy.
In Paris many financial institutions declared withdrawal from financing investments based on fossil fuels. Banks and funds are slowly starting to implement their announcements.
“Today, capital to be allocated to green investments is abundant globally. This is clearly apparent in the investors’ interest in the construction of offshore wind farm projects in the Baltic Sea. However, to attract them one must have confidence in the state and the regulations it enacts,” said Aneta Wieczerzak-Krusińska, Spokesperson of the Polish Wind Energy Association, who took part in the “Green financing” debate organised on 8 March by the Institute for Sustainable Development in cooperation with the Embassy of the United Kingdom in Warsaw and the Make Europe Sustainable for All project.
She referred to the draft amendment to the Renewable Energy Sources Act published at the end of February, which could have struck the stability of approximately 6 thousand MW of onshore wind farms. However, following public consultations Ministry of Energy decided to withdraw from the provisions harming the industry. PWEA Spokesperson also stressed technological progress, which enables electricity produced by onshore wind farms to become competitive with conventional electricity. In the near future such installations will be built at arm’s length, without government subsidies.
The online, 1.5-hour webinar dedicated to green financing was also participated by: Anna Żyła, Chief Ecological Officer of Bank Ochrony Środowiska; Maciej Grabowski, former Minister for the Envirnment and formed Deputy Minister for Finance; and Jan Rączka, former President of the National Fund for Environmental Protection and Water Management. The discussion was also focused on the possibility to obtain funds for projects promoting sustainable development, such as green bonds or credits under a governmental programme aimed at thermal efficiency improvement of buildings and elimination of smog. The emphasized issues included the benefits related to the development of the green financing market as well as low awareness among the players regarding the requirements related to sustainable financing and the lack of framework for the development of the local green financing market in Poland.
The debate was run by Bartłomiej Derski, editor of the Wysokienapiecie.pl website.
On the very first day the debate was viewed by approximately 400 persons. In accordance with the hosts this proves substantial interest in the matter. Therefore, they intend to return to it in the future.
The entire debate is to be seen here.