We are pleased to announce publication of the CMS Renewable Energy Guide 2020/21. Our guide includes contributions from some of the most active lawyers in the renewables sector across the globe, including insights from our sustainable finance and tax experts.
2020 has been a year of unprecedented challenge and has seen great change to economies and societies worldwide. Almost 5 years on from the signing of the Paris Agreement, the world has witnessed the alarming consequences of systemic threats via the spread of the Covid-19 pandemic. Contrary to the predictions of some commentators, the need to shift to a sustainable energy sector and to decarbonise existing energy systems has grown ever more apparent.
The messages from governments and institutions worldwide have a common theme – renewable energy generation will remain fundamental to decarbonising energy systems, which will in turn be essential to achieving sustainability goals and ultimately tackling climate change.
Programmes for investment in and innovation of renewable energy across the globe are becoming ever more ambitious. As such, the conversation is no longer about costs or technological maturity, but rather whether countries are developing a sufficiently long and sizeable pipeline of projects to feed the almost insatiable desire of banks, investors and developers to deploy capital and debt in the sector.
Securing the transition to a clean energy system has become less about actively facilitating or subsidising the sector and more about removing the legal, political and structural barriers to deployment.
The guide examines the current state of the renewables sector in 44 jurisdictions across Africa, Asia, Europe, the Middle East and Latin America and outlines our expectations for the future of the sector in each of those jurisdictions.