At the Bloomberg New Energy Finance Summit in New York, delegates selected PAYS among four high impact innovations to speed up the provision of finance for clean energy. The FiRe team recognized PAYS as a “financing solution showing promise for expanding clean energy in the U.S. and around the world.”
Winners of the Finance for Resilience (FiRe) competition in 2015 were among 52 ideas submitted to FiRe, and have the potential to scale up the financing of clean energy and climate solutions by at least an additional $1bn within the first three years.
Michael Liebreich, chairman of FiRe and of the advisory board of Bloomberg New Energy Finance, said: “It’s thrilling to see how FiRe is building momentum. This year we had more than twice as many entries, and the quality was great. I’m looking forward to working with our four 2015 winners and want to thank everyone who has lent their support.”
Hilary McMahon, director of research at Carbon War Room and a member of the FiRe challenge panel, commented: “The participants took the attendees on a journey from the genesis of the idea, to the positive impact that the idea could have and the strategy for getting there. The winning projects therefore represent opportunities for investment that we can all get excited about.”