Climargy CEO Alexander Ablaza (second from left) explains Climargy’s pioneering private-sector super ESCO model in emerging markets during an ESCO financing panel session of the IEA event on 7 June 2022 in Sønderborg, Denmark. From left: Carla Della Maggiora, Deputy Director, Basel Agency for Sustainable Energy; Ablaza; Jalel Chabchoub, Chief Investment Officer, African Development Bank; and, Esther Badiola, Senior Economist, European Investment Bank. Not in photo are: Satish Kumar, President, Alliance for an Energy Efficient Economy; and, Frederic Bettez, Managing Director Investments, Canada Infrastructure Bank. (Photo: Climargy)
SØNDERBORG, DENMARK, 7 June 2022 – The International Energy Agency (IEA) invited Climargy CEO Alexander Ablaza to speak in the 7th Annual Global Conference on Energy Efficiency, specifically to share the Climargy business model during the side event, “Energy Service Companies (ESCOs) for Net Zero.”
In his letter to Ablaza dated 17 May 2022, IEA Head of Energy Efficiency, Brian Motherway said, “Given your experience in financing energy efficiency and ESCO projects in the Philippines, it would be a special honor for us to welcome you as a speaker and panelist.
The event will feature successful examples of ESCO implementation around the world, key enablers for thriving ESCO markets as well as financial mechanisms and key insights from financial institutions with the aim to derive actionable recommendations to policy makers.”
Climargy is one of the world’s pioneer private-sector aggregators of ESCO project assets in emerging markets. Climargy’s unique model of mobilizing off-balance sheet capital toward ESCO-led projects is intended to accelerate energy efficiency capital flows in Asian growth markets, initially the Philippines.
Co-organized by the Global ESCO Network, the ESCO side event was held to strengthen the role of ESCOs in achieving net zero carbon emissions, enhancing energy security and tacking the financing challenge for energy efficiency. Moderated by Carla Della Maggiora, Deputy Director, Basel Agency for Sustainable Energy, the ESCO financing and business model panel discussion also showcased financing models presented by Jalel Chabchoub, Chief Investment Officer, African Development Bank; Esther Badiola, Senior Economist, European Investment Bank; Satish Kumar, President, Alliance for an Energy Efficient Economy; and, Frederic Bettez, Managing Director Investments, Canada Infrastructure Bank.
This high-level IEA conference brought together ministers, CEOs and other leaders from the international community in Sønderborg, Denmark to drive up ambition on energy efficiency at this critical moment for energy security, affordability and net zero targets. At least 25 ministers attended the event, as well as almost as many speakers from the business and the international spheres.
