Initial analysis of almost 6,000 projects targeting renewable energy and energy efficiency in developing countries has revealed that the projects could reduce CO2 emissions by about 1.7 gigatons a year by 2020. The findings, released at COP21 in Paris by the 1 Gigaton Coalition in its first annual report, entitled "Narrowing the Emissions Gap: Contributions from renewable energy and energy efficiency activities", are based on projects implemented between 2005 and 2012. They show the potential for further emissions reductions if programmes and initiatives are supported further to replicate successful projects more widely. The report is based on the current level of activities in renewable energy and energy efficiency in the energy sector. However, after the COP21 negotiations, the level of green energy financing is likely to increase, and the 1.7 gigaton figure would be expected to grow in the future. This would assist in closing the emissions gap, which the UNEP Emissions Gap Report 2014 estimated at 8-10 Gt CO2 equivalent by 2020.