This report presents the risks of corruption and integrity in the renewable energy sector and recommendations for tackling them.
Continued growth in renewable energy is essential if we are to achieve our net zero emissions targets. The risks that accompany change of such scale and urgency are cause for concern: large flows of finance, a rapid increase in investment and the expectation of high returns can generate considerable risks of corruption and integrity breaches. These concerns have similarities to the problems seen in the extractive industries over the last few decades, and are particularly visible in the context of large-scale renewable energy investments in regions where governance is weaker.
Mismanagement and corruption could be serious obstacles to the expected growth of the renewable energy sector. Although stakeholders in the renewable energy sector are increasingly willing to address environmental and social concerns, little attention is currently paid to the risks of corruption and integrity breaches, both in policy-making and in the development and operation of renewable energy projects.
This report examines the extent and implications of corruption and integrity risks in the renewable energy sector in high-, middle- and low-income countries, focusing on solar, wind, hydro and green hydrogen. It describes existing transparency and accountability standards in the sector, and the extent to which they address areas vulnerable to corruption and poor governance. Finally, the report provides recommendations to the various stakeholders on strengthening accountability and transparency in the renewable energy sector.
The full report: https://eiti.org/sites/default/files/2023-11/FR%20EITI_Report_Race%20to%20renewables.pdf
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