Sustainable Renewables Risk Mitigation Initiative (SRMI)

Launched in 2018, the Sustainable Renewables Risk Mitigation Initiative (SRMI) is a partnership of the World Bank’s Energy Sector Management Assistance Program (ESMAP), the Agence Française de Développement (AFD), the International Renewable Energy Agency (IRENA), the International Solar Alliance (ISA), and Sustainable Energy for All (SE4all). In 2023, the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) via the GET.transform program joined the Partnership.   

Housed at ESMAP, which focuses on achieving decarbonization across the energy sector in support of international commitments on climate change. SRMI supports governments in creating environments conducive to privately led renewable energy projects. By offering technical assistance, concessional funding for targeted public investments, and innovative risk mitigation instruments, SRMI aims to mitigate private-sector risks while reducing public-sector exposure. This comprehensive approach, leveraging the expertise of each Partner, is essential for overcoming barriers and mobilizing the necessary investments for a successful energy transition. 

To achieve global climate objectives and energy security, renewable energy investments must triple to US$1.3 trillion annually by 2030. SRMI is committed to assisting governments in prioritizing and implementing interventions that unlock bankable renewable energy projects. Through coordinated support from development partners and innovative financing solutions, SRMI strives to facilitate high-impact investments and drive the global shift towards sustainable energy.