The global picture
FINTECC is part of a global initiative towards climate technology transfer. We aim to ensure that countries have access to technologies and practices, which help mitigate and build resilience to climate change.
What is technology transfer?
The Intergovernmental Panel on Climate Change defines technology transfer as:
….a broad set of processes covering the flows of know-how, experience and equipment for mitigating and adapting to climate change amongst different stakeholders such as governments, private sector entities, financial institutions, non-governmental organizations (NGOs) and research/education institutions…
...the broad and inclusive term “transfer” encompasses diffusion of technologies and technology cooperation across and within countries. It covers technology transfer processes between developed countries, developing countries, and countries with economies in transition. It comprises the process of learning to understand, utilize and replicate the technology, including the capacity to choose and adapt to local conditions and integrate it with indigenous technologies.
(Methodological and Technological Issues in Technology Transfer, IPCC 2000)
Although many definitions exist, this concept has been adopted by the Global Environment Facility (GEF). It is also embodied in the United Nations Framework Convention on Climate Change (UNFCCC) technology transfer framework.
Why is it important?
Technology plays a central role in rising to the challenge of climate change. Alongside policy environments and the choices we make individually, technology determines the amount of greenhouse gases we emit. It also provides options for reducing these emissions and adapting to the climate change impacts that are unavoidable.
Technological change has the potential to reduce the cost of meeting global climate change goals. Innovation also forms the foundation of industrial development, helping to expand markets and generate jobs.
The ‘transfer’ element is critical to the process. The effective communication of knowledge increases awareness and understanding between different sectors and regions. Developing, demonstrating, deploying and diffusing climate technologies, moves us closer to an effective global response to the climate change challenge.
Where does FINTECC fit in?
All Multilateral Development Banks have established Regional Technology Transfer Centres, using initial funding from the GEF under their Long-Term Program on Technology Transfer. This program was set up with a mandate from the Conference of the Parties to the UNFCCC.
As the EBRD’s Regional Technology Transfer Centre, FINTECC supports businesses in implementing climate technologies. We also play a vital role in supporting climate technology transfer, across different regions and sectors.