On May 17, at 5:00 p.m., in the auditorium of the Executive Tower (Liniers 1324) and with live streaming, the launch of the Uruguay Renewable Energy Innovation Fund (REIF) will take place. This innovative financing program aims to promote Uruguay's second energy transition. The fund has the participation of the Ministry of Industry, Energy and Mining, the Ministry of Environment, the Office of Planning and Budget, and UTE; and is implemented by the United Nations agencies: United Nations Industrial Development Organization (UNIDO), the United Nations Development Program (UNDP) and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women).

The event will be attended by the Minister of Industry, Energy and Mining of Uruguay, Omar Paganini; the Minister of Environment Adrián Peña, the United Nations Resident Coordinator, Pablo Ruiz Hiebra and the UNIDO representative for the Southern Cone Manuel Albaladejo; with a technical intervention by the environmental advisor MaríaJosé González; and with the closing of Paula Cobas, coordinator of the REIF Program in Uruguay. The activity will also be attended by the UN Women Program Coordinator in Uruguay, Magdalena Furtado and the UNDP Resident Representative, Stefan Liller.

Currently, Uruguay produces almost all of its electricity from renewable sources. This successful transformation of its electricity matrix has positioned it as a model in the world, offering the possibility of using renewable electricity to promote the decarbonization of other sectors of activity, such as industry and transportation.

REIF articulates with the financial system by channeling private sector investments to develop and implement infrastructures and technologies to transform industry and transportation, in the field of electric mobility, storage technologies, renewables for thermal use in industry, hydrogen use and waste management.

This fund, financed with a US$10 million contribution from the UN, represents a different way of doing business, in which the economic dimension is not the only variable, and the environmental and social dimensions become central. These triple impact investments promote environmental sustainability, private sector competitiveness, social inclusion and capacity building in the financial system. Each investment helps generate a more sustainable, equitable and inclusive world, accelerating the country's compliance with the 2030 Agenda.

The implementation of this program will have a direct impact on the achievement of the following Sustainable Development Goals (SDGs) of the United Nations 2030 Agenda: SDG 5 - Gender Equality, SDG 7 - Affordable and Clean Energy, SDG 9 - Industry, Infrastructure and Innovation, while contributing to SDG 8 - Decent Work and Economic Growth, SDG 11 - Sustainable Cities, SDG 13 - Climate Action and SDG 17 - Partnerships for the Goals.

Follow the event by streaming at: reif.event.uy