Global Conference 2007 | Market Returns from Sustainable Development: Global Development Bonds
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Panel Detail:
Wednesday, April 25, 2007 9:20 am - 10:35 am
Market Returns from Sustainable Development: Global Development Bonds
Speakers:
Reid Detchon,
Executive Director, Energy and Climate, U.N. Foundation; Executive Director, Energy Future Coalition
Michael Eckhart,
President, American Council on Renewable Energy
Michael Lucente,
Managing Director, Head of Structured Finance, Emerging Markets, Merrill Lynch
Moderator:
John Simon, Executive Vice President, Overseas Private Investment Corporation
Panelists on this session, which focused on how to pay for global energy infrastructure needs, are, from left, Michael Eckhart, John Simon and Reid Detchon.
The International Energy Agency estimates that it will cost $16 trillion to build sufficient infrastructure to supply the world's energy needs between now and 2030, about $533 billion a year. In four other sectors - electric power, water, transportation and telecom - annual infrastructure estimates range from $434 billion to $610 billion a year. That's somewhere between $124 billion and $300 billion below what is expected to be available. Where will the money come from? A potential new investment security - the Global Development Bond - would marry private capital with public agency and philanthropic credit enhancement. This innovative product would apply proven financial technologies to a new market, enabling institutional investors to support significant sustainable development in emerging markets and earn an attractive return on their money.
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