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climate finance

Strong measures: getting fiscal on climate change

Weijen Leow's picture
Opening plenary of the Africa Carbon Forum



Albert Einstein once said: “The only source of knowledge is experience.” For years I have wondered about this. Surely you can understand something without actually having done it. After all, mankind’s understanding of the vast universe is greater than what can be directly experienced, and some of it is derived from theoretical reasoning. I was on my way to the 2018 Africa Carbon Forum to share fiscal policy lessons under the CAPE program and the debate was still raging in my head when I arrived at the UN campus in Nairobi Kenya.

Finance ministers should step up efforts for climate action

Petteri Orpo's picture



The International Day of Peace is celebrated on September 21st.  After more than 50 years of civil war, we finally have a national Peace Day to celebrate in Colombia, too.
 

Taking the lead on green growth

Suvojit Chattopadhyay's picture

Bangladesh has what it takes to influence this global movement

Manik, a solar pump operator for Nusra works near the solar panels in Rohertek, Bangladesh
Solar panels in Rohertek, Bangladesh, Oct 2016

Bangladesh has made remarkable progress over the past two decades, lifting millions out of poverty and sustaining expanding levels of economic growth.

It has achieved this in spite of major internal and external challenges — global economic downturns, natural disasters, and periods of political uncertainty that have tested the resolve of the Bangladesh economy.

In spite of this and efforts in climate change adaptation, Bangladesh still remains one of the most vulnerable countries to climate change according to the Global Climate Risk Index 2015.

This crisis has sparked an urgent response from the government. The government of Bangladesh is a leader amongst Less Developed Countries (LDCs) in enacting policies to tackle the risks emerging from climate change, as well as in negotiating on behalf of other vulnerable countries to finance both climate change adaptation and mitigation activities.

Bangladesh played a leading role in helping set up the global Green Climate Fund (GCF) with an ambitious agenda to mobilise $100 billion per year from rich countries by 2020 to finance climate change initiatives in developing countries.

Domestically, much more remains to be done towards climate change mitigation. There are multiple sector-specific and cross-cutting policies in place. However, a comprehensive set strategy in support of green growth is yet to be formulated.

Maximizing finance for sustainable urban mobility

Daniel Pulido's picture
Photo: ITDP Africa/Flickr

The World Bank Group (WBG) is currently implementing a new approach to development finance that will help better support our poverty reduction and shared prosperity goals. This crucial effort, dubbed Maximizing Finance for Development (MFD), seeks to leverage the private sector and optimize the use of scarce public resources to finance development projects in a way that is fiscally, environmentally, and socially sustainable.
 
There are several reasons why cities and transport planners should pay close attention to the MFD approach. First, while the need for sustainable urban mobility is greater than ever before, the available financing is nowhere near sufficient—and the financing gap only grows wider when you consider the need for climate change adaptation and mitigation. At the same time, worldwide investment commitments in transport projects with private participation have fallen in the last three years and currently stand near a 10-year low. When private investment does go to transport, it tends to be largely concentrated in higher income countries and specific subsectors like ports, airports, and roads. Finally, there is a lot of private money earning low yields and waiting to be invested in good projects. The aspiration is to try to get some of that money invested in sustainable urban mobility.

One Planet Summit: Three climate actions for a resilient urban future

Ede Ijjasz-Vasquez's picture

去年8月,联合国秘书长潘基文要求一个独立专家顾问小组(IEAG)为掀起可持续发展领域数据革命提出具体建议。该小组响应了这一要求,提交了报告,提出了诸多建议,其中包括“支持可持续发展领域数据革命的资金流应在第三届国际发展融资大会上获得批准。”本次大会将于2015年7月在埃塞俄比亚首都亚的斯亚贝巴召开。

需经磋商的三篇专题论文

为支持这一要求,促进对话,世界银行集团草拟了侧重以下三个重点方面的专题论文:

  1. 数据创新
  2. 数据领域公私合作
  3. 数据素养与促进数据使用

这三篇论文旨在细化具体发展需求以及支持每个方面所需融资的特点。更全面了解这些特点,有助于确定可以开发出哪些融资机制或工具来支持数据革命。

Climate finance: why is transport getting the short end of the stick?

Shomik Mehndiratta's picture
Also available in: Español | Français 
what did I miss?
what did I miss?
For the past two decades, I've worked on issues at the intersection of the education and technology sectors in middle- and low-income countries and emerging markets around the world. It's been a fascinating job: Over the past 20 years, I've been an advisor to, evaluator of, and/or working-level participant in, educational technology ('edtech') initiatives in over 50 such countries. When it comes to ICT use in education, the promised revolution always seems to be just around the corner. Indeed: I am regularly pitched ideas by people who note that, while many past promises about the potential of the use of new technologies in education have failed to pan out, they are confident that "this time, it's different".

At the same time, I am quite often asked to help other folks identify intriguing initiatives that might, individually and/or collectively, illuminate emerging trends and approaches in this sector:

"I'm interested in examples of innovative educational technology projects from around the world, especially those primarily focused on helping teachers and learners in developing countries. In other words: Not the usual suspects. Can you suggest a few projects and companies that I might not know about -- but should?"

I receive a version of this request most every week (sometimes even multiple times in a single day). Given the frequency of such inquiries, I thought I'd quickly highlight 20 such efforts from around the world, in the hope that people might find this useful. The hope is to point readers in the direction of some interesting projects that they might not know much about, but from which there is much we can learn. 

While I am not sure if, indeed, things will turn out to be 'different this time around', the overall volume of such projects, and the sophistication of many of them, are quite notable. There is more happening, in more places, than ever before. A number of efforts have been informed (in good ways) by past failures. That said, others will no doubt attempt to 'reinvent the flat tire' and display a characteristic common to Einstein's definition of insanity: "doing the same thing over and over again and expecting different results". Hopefully none of the groups profiled below will fall into that trap, but I suspect that a few of them might.

The list here, a mix of for-profit and non-profit initiatives, is deliberately idiosyncratic and non-representative (see the many caveats and explanations that follow below the list). Some of these projects are no doubt doomed to 'fail'; others will most likely be restructured more than once as they try, to borrow the words of Deng Xiaopeng, to "cross the river by feeling the stones". And maybe, just maybe, a few of them might actually turn out to be as 'transformative' as they hope to be. 

With that said, and in alphabetical order, here are:
 
20 innovative edtech projects from around the world

Scaling up climate investments will require innovation in five key areas

Alzbeta Klein's picture


Just ask the investors: businesses in emerging markets can no longer afford to ignore the risks posed by the changing climate to their bottom lines. Ranging from increasingly frequent and severe weather events to new regulations and changing consumer preferences, climate change is fundamentally transforming the way we do business. Increasingly, companies and their investors are seeking opportunities to transition to and invest in climate-smart portfolios.

Reaffirming our commitment to carbon pricing and climate action

Catherine McKenna's picture
Second Annual Carbon Pricing Leadership Coalition High-Level Assembly. Photo: World Bank


When the world united around the historic Paris climate agreement, in 2015, the message was clear: It’s unfair to pass the burden of climate change to future generations.

We now need to put words into action. This week, leaders from 20 of the largest economies are meeting in Hamburg to find solutions to global challenges. Climate change will be front and center.

As the co-chairs of the Carbon Pricing Leadership Coalition (CPLC), we want to accelerate climate action and reaffirm our commitment to carbon pricing. The discussions in Germany are a great opportunity to keep the momentum going.
 
Launched during the Paris climate talks, the CPLC now consists of 30 governments and over 140 businesses, all fighting for a common cause: to advocate for the pricing of carbon emissions across the world. We are calling for bold leadership from everyone – governments, companies, academia and civil society. The CPLC provides a forum for these groups to show collaborative leadership on carbon pricing.

A new front in the climate fight: innovative finance

Miria Pigato's picture
Rapid progress in digital technology, behavioral economics, evaluation methods, and the connectivity of youth in the developing world generates a stream of real-time insights and opportunities in project design and implementation. (Photo: Arne Hoel / World Bank)


Innovations in youth employment programs are critical to addressing this enormous development challenge effectively. Rapid progress in digital technology, behavioral economics, evaluation methods, and the connectivity of youth in the developing world generates a stream of real-time insights and opportunities in project design and implementation. Part of the challenge is the sheer number of projects (just in Egypt, there are over 180 youth employment programs). And even without being aware, projects often innovate out of necessity in response to situations they face on the ground. But innovations need to be tested in different country contexts to be able to make an impact at scale.

Through the new Solutions for Youth Employment (S4YE) report, our team ventured to curate a few such ongoing innovations as they were being implemented through S4YE’s Impact Portfolio — a group of 19 youth employment projects from different regions being implemented by  different partners across the globe. This network of youth employment practitioners serves as a dynamic learning community and laboratory for improving the jobs outcomes of youth globally.

Sovereign wealth funds: the catalyst for climate finance?

Juergen Braunstein's picture



Following the Paris deal on international climate change, governments are beginning to explore new financing mechanisms for investing in the growing low carbon economy. Over the next decade sovereign wealth funds (SWFs) could become an important game changer in green investing. Recognizing the untapped potential of SWFs, two key questions emerge: how can SWFs increase their exposure to green asset classes? And what are the constraints?
 
Investors and financial institutions are becoming increasingly aware of the risks associated with fossil fuel projects and are showing growing interest in green bonds and other financing tools that facilitate investment in low-carbon energy solutions.
 
Being patient investors, with longer term investment horizons than many others in the financial services sector, SWFs could become catalysts for implementing the December 2015 Paris Climate Agreement. In the November 2016 annual meeting of the International Forum of Sovereign Wealth Funds in Auckland, participants highlighted that SWFs are particularly well-positioned to become trailblazers in green investment. The majority of members are oil-based SWFs which are looking to economic diversification of their finite carbon wealth into industries and sectors that would yield broader societal, economic and financial benefits.


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