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MEDIA REPORTS

TRADE, FINANCE AND INVESTMENT IN SUSTAINABLE DEVELOPMENT

This page was updated on: 12/09/10

 

2010

 

Trade, Finance and Investment Media Reports Archives: 2009; 2008; 2007; 2006; 2005; 2004; 2003; 2002


Latest Media Reports

GEF Endorses Projects on International Waters

World Bank and UNDP Launch Climate Finance Options Database

GEF Supports Tiger Initiatives

DECEMBER 2010

GEF Endorses Projects on International Waters

November 2010: The Global Environment Facility (GEF) gave a final green light to a series of full-sized projects during the month of November, which allows their final approval by implementing agencies to commence activities, including on international waters. These include a US$9.7 million project for several small island developing States (SIDS), namely: Cape Verde, Comoros, Maldives, Mauritius, Sao Tome and Principe, and Seychelles to promote integrated water resource and wastewater management in the Atlantic and Indian Oceans; and a global project to strengthen global portfolio experience sharing, learning and replication to enhance the efficiency and effectiveness of GEF international waters projects in delivering tangible results. [GEF full-sized projects website]

 

World Bank and UNDP Launch Climate Finance Options Database 

30 November 2010: The World Bank and UN Development Programme (UNDP) have launched a Climate Finance Options platform, which allows users to track climate-change related finance by region, focus area, sector or financing mechanism. The database seeks to respond to information needs on the multitude of funds available for climate action in developing countries. The platform aims to help stakeholders in developing countries, such as project developers and local government officials, orient themselves in the field of climate finance and find most suitable sources of funds. [The platform]

 

GEF Supports Tiger Initiatives

The Global Environment Facility (GEF) highlighted its support for initiatives to save the tiger during the International Tiger Conservation Forum, which took place in St. Petersburg, Russian Federation, from 21-24 November 2010. The GEF indicated it will provide up to US$50 million in grants to save the tiger, through contributions to be invested by developing countries using their GEF allocations in biodiversity, supplemented by investments from its REDD+ (reducing emissions from deforestation and forest degradation in developing countries, and the role of conservation, sustainable use of forests and enhancement of carbon stocks) Program. The GEF will also collaborate with the World Bank and other development partners in the Global Tiger Recovery Program. The GEF commitment on this issue complements the recently launched “Save Our Species” (www.SOSpecies.org) initiative, a partnership between the GEF, the World Bank and IUCN to attract private sector investments in species conservation and expected to become one of the largest and most comprehensive fund to protect globally threatened species. [GEF CEO statement to Tiger Summit] [GEF post on BIODIVERSITY-L] [International Tiger Conservation Forum website]

NOVEMBER 2010

World Bank Signs First ERPA on Soil Carbon in Africa

November 2010: The World Bank signed the first African Emission Reduction Purchase Agreement (ERPA) on soil carbon for the Kenya Agricultural Carbon Project, located on 45,000 hectares in the Nyanza Province and Western Province of Kenya. Small-holder farmers and small-scale business entrepreneurs are trained in cropland management techniques, which increase the yield of the land and generate additional sources of income for the farmers through the payment for environmental services in the form of carbon credits. The World Bank-administered BioCarbon Fund will buy the carbon credits, providing direct benefit to local communities of over US$350,000 with an initial payment of US$80,000 to be made in 2011. [World Bank press release]

OCTOBER 2010

GEF Launches International Partnership to Protect Production Ecosystems

The Global Environment Facility (GEF) launched the International Partnership for the Satoyama Initiative, a platform for organizations engaged in integrating conservation and sustainable use of biodiversity in production landscapes, including forests and agricultural lands. The GEF will facilitate the use of its grant modalities, including enabling activities, Small Grants Programme (SGP), and medium and full size projects, as leveraged opportunities for activities related to the Satoyama Initiative, provided they are eligible under the GEF-5 Biodiversity Focal Area Strategy, and attend to country needs and priorities. [GEF press release]

 

World Bank receives pledge from Norway for Guyana REDD+ Investment Fund

9 October 2010: Norway has pledged US$30 million to the Guyana REDD+ Investment Fund (GRIF), entrusted to the World Bank, with the aim of supporting Guyana’s policies for limiting greenhouse gas emissions from deforestation and forest degradation, and its progress in governance-related indicators. Guyana will invest the payments it receives, and any income earned on them, in its Low Carbon Development Strategy (LCDS). Norway’s payments to Guyana may amount to approximately US$250 million over the period to 2015, depending on Guyana’s performance according to a methodology set out by the two countries in November 2009. The partnership is based on the concept of “payment for ecosystem services” and aims to contribute to the creation of a global regime to assign economic value to standing forests. [World Bank press release]

SEPTEMBER 2010

Turkey Designates No Take Fishing Zones in Gökova Bay

20 September 2010: With the support of the Global Environment Facility’s (GEF) Small Grants Programme (SGP), the Underwater Research Society (SAD) initiated a project on establishment of No Take Fishing Zone (NTFZ) Marine Protected Areas (MPAs) in the Turkish Gökova Bay in 2009. In Turkey, overfishing and over capacity of fishing fleets pose serious threats to the marine biodiversity. Through a participatory process, the SAD established NTFZs that will benefit marine habitats where valuable fish stocks already collapsed and invasive Lesepsian fish have serious impact grazing on algae cover in the littoral zones. These NTFZs were officially announced in July 2010, and are the first in the country. [GEF press release]

 

World Bank Funded Project Registers First CDM Program of Activities in Africa

26 July 2010: The World Bank has supported the launch of a Municipal Waste Compost Program in Uganda, the first African country to successfully register a Program of Activities (POA) under the Clean Development Mechanism (CDM) of the Kyoto Protocol.http://iisdrs.org/wp-includes/js/tinymce/plugins/wordpress/img/trans.gif The Uganda POA is the first of its kind in the world, and promotes solid waste composting in urban areas, a system that, unlike landfills, returns organic matter to the soil, prevents land degradation, and significantly reduces methane emissions. A total of 156,889 Certified Emission Reductions (CERs) and 52,296 Verified Emission Reductions (VERs) will be sold to the World Bank’s Community Development Carbon Fund. [World Bank press release]

JULY 2010

GEF Supports Caribbean MPA Project

July 2010: The Global Environment Facility (GEF) has agreed to support the protection and sustainable use of the marine resources of the Seaflower Marine Protected Area (MPA). The project, “Protecting Biodiversity in the Southwestern Caribbean Sea,” is implemented by the Inter-American Development Bank (IADB) and executed by the Corporation for the Sustainable Development of the Archipelago of San Andres, Old Providence and Santa Catalina (CORALINA). It comprises four components: adaptive management; financial sustainability; alternative livelihoods; and monitoring and analysis. [GEF press release, July 2010]

MAY 2010

World Bank Appoints Special Envoy for Climate Change

Robert Zoellick, World Bank President, announced the appointment of Andrew Steer as Special Envoy for Climate Change, a new position created for focused leadership and representation of the World Bank in the international climate change discussions. [World Bank press release]

 

WORLD BANK APPROVES FIRST DEVELOPMENT POLICY LOAN FOR CLIMATE CHANGE

25 May 2010: The World Bank has approved its first development policy loan dedicated to climate change mitigation and adaptation, in Indonesia. The US$200 million loan is designed to support the Indonesian Government in its efforts to adopt a lower carbon, more climate-resilient growth path, and focuses on mitigating greenhouse gas (GHG) emissions; enhancing adaptation and resiliency efforts in key sectors; and strengthening the institutions and policies needed for a successful climate change response. World Bank press release.

MAY 2010

EIB LAUNCHES “INTERACT CLIMATE CHANGE FUND,” ISSUES CLIMATE AWARENESS BONDS

The European Investment Bank (EIB), the French Development Agency (AFD) and the European Development Finance Institutions (EDFI) have signed a Memorandum of Understanding to establish the “Interact Climate Change Fund,” an investment matching facility to fund private sector climate change projects in Africa, the Caribbean and the Pacific (ACP), Asia and Latin America before the end of 2010.

 

In other news, the EIB and Daiwa Securities Group announced the issuance of Climate Awareness Bonds to finance the EIB's future lending projects in the fields of renewable energy and energy efficiency. The proceeds of this new EIB bond issue will be dedicated to future lending projects on: renewable energy, such as wind, hydro, solar and geothermal energy production; and energy efficiency, such as district heating, co-generation, building insulation, energy-loss reduction in transmission and distribution, and equipment replacement with energy efficiency improvements of 20% or more.

 

Link to further information

EIB press release, 7 May 2010

EIB press release, 30 April 2010

 

FOURTH GEF ASSEMBLY DOCUMENTS IDENTIFY CLIMATE TIPPING POINTS

The Global Environment Facility (GEF) has published documents for the Fourth GEF Assembly, including a report of its Scientific and Technical Advisory Panel (STAP), which highlights that climate change is “even more dangerous than previously expected” and identifies a series of climate change tipping points (GEF/A.4/3).

 

Other documents include the GEF Fourth Overall Performance Study (GEF/A.4/4) and an introduction to the topics of roundtable discussions that will take place during the Assembly, which will take place in Punta del Este, Uruguay, from 24-28 May 2010 (GEF/A.4/Inf.2).

 

Link to further information

Fourth GEF Assembly documents

APRIL 2010

GEF FINANCES COASTAL ZONE MANAGEMENT IN ALEXANDRIA

The World Bank has approved a project on sustainable coastal zone management in Alexandria, in particular to reduce land-based pollution to the Mediterranean Sea. Among its project activities, the US$7.15 million Global Environment Facility (GEF) grant will finance pilot measures to reduce land-based sources of pollution entering Lake Mariout and subsequently the Mediterranean Sea.

 

Link to further information

World Bank press release, 29 April 2010

 

GEF SGP SUPPORTS GREENING ARMENIA'S HOUSING SECTOR
The Global Environment Facility (GEF) Small Grants Programme (SGP) is piloting a residential project to showcase renewable energy and energy efficiency practices in apartment buildings in Armenia. Specifically, the project supports the installation of energy efficient (EE) doors and windows, EE lighting systems and solar hot water and heating systems. It has already produced tangible results, with a 40% reduction in the consumption of natural gas by residents and a 10% reduction in electricity use. It is envisaged that by the end of the project in August 2010, reduction of CO2 emissions will reach about 62 tones. The GEF SGP has provided US$30,970 to the project, which has strategic importance for Armenia, a country with no domestic sources of fossil fuel and an immense potential for development of alternative energy resources use and EE technologies in the housing sector. The direct beneficiaries of the project are 15 households and 3 public service facilities located in the pilot building.

In other GEF SGP news, on 27 March 2010, China officially became one of the countries implementing SGP projects. In 2009, China announced its first call for proposals for SGP grants, receiving 156 proposals within a 30 day period. The National Steering Committee of SGP China approved 22 projects, which encompass all of GEF’s six focal areas.

 

Links to further information
GEF press release

GEF Small Grants Programme

China SGP News

 

NEW ADAPTATION FUND WEBSITE LAUNCHED

The Adaptation Fund has launched a new version of its website. The website can be accessed at the same URL and features several new user-specific sections. Among the new sections are the list of national and multilateral implementing entities so far accredited by the Adaptation Fund Board, and communications from the Board to the parties, such as the recently issued call for project and programme proposals. 

 

Links to further information

Adaptation Fund web site

RSS feed

 

WORLD BANK OPENS DATABASE WITH MORE THAN 2000 INDICATORS

The World Bank has opened a database with more than 2000 indicators from developing economies, including many indicators that go back 50 years. As part of its open data initiative, the Bank launched, on 22 April 2010, data.worldbank.org, a website that provides free, open and easy access to statistics and indicators about development. Visitors to the site can find, download, manipulate, use and re-use the data compiled by the World Bank, without restrictions. The new open data initiative coincides with the release of the World Development Indicators (WDI) 2010, one of the Bank’s most popular statistical resources.

 

Link to further information

World Bank Open Data web site

MARCH 2010

IMF CHIEF SUPPORTS GREEN FUND

Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), took part in a panel discussion at the Kenya International Conference Center in Nairobi, and explained that the IMF is working on the idea of a “Green Fund” with the capacity to raise US$100 billion a year by 2020. He further clarified that the IMF does not intend to manage such a fund, but presents the idea as the UN High-Level Advisory Group on Climate Change Financing is about to begin its work.

 

Link to further information

IMF press release, 8 March 2010

 

WORLD BANK ANNOUNCES FIRST LARGE-SCALE FOREST CDM PROJECT REGISTERED IN AFRICA

The World Bank has presented Africa’s first large-scale forestry project to be registered under the Kyoto Protocol’s Clean Development Mechanism (CDM). The Humbo Assisted Natural Regeneration Project will bring environmental, economic and social benefits to poor communities in Ethiopia and is expected to cut an estimated 880,000 metric tons of carbon dioxide from the atmosphere over the next 30 years. The sale of carbon credits under the BioCarbon Fund will provide an income stream of over US$700,000 to the local communities over a minimum of ten years.

 

Link to additional information

World Bank press release, 3 March 2010


RAMSAR SIGNS MOU WITH WORLD BANK

On 16 February 2010, Anada Tiéga, Ramsar Secretary General, and Hartwig Schafer, Acting Vice President, Sustainable Development Network, World Bank, signed a Memorandum of Understanding (MoU) that aims to “establish a framework of cooperation between Ramsar and the World Bank in exchange of technical expertise and capacity building related to the development and implementation of climate change projects in wetlands in the context of the World Bank-financed climate change portfolio.” According to the MoU, the Ramsar Secretariat will: provide technical support for the assessment, formulation, and development of climate change projects in wetlands in the geographical areas of wetland projects in the World Bank portfolio; assist in the development of tools and methodologies to assess the magnitude of carbon sinks in mangroves; support the development of the wetlands typology and protocol for assessing net carbon storage or carbon dioxide emissions under different conditions; and prepare jointly publications on the findings of the cooperation.

 

Link to further information

The MoU

 

WTO SEEKS COMMENTS ON REPORT ON TRADE IN NATURAL RESOURCES

The World Trade Organization (WTO) is providing a discussion forum for stakeholders to present opinions on trade in natural resources, and has invited comments on two online articles on: trade and deforestation; and the relation between international trade and freshwater scarcity. Comments will be taken into account in the World Trade Report, an annual publication that aims to deepen understanding about trends in trade, trade policy issues and the multilateral trading system. The theme of the next edition, to be published in July 2010, is “Trade in Natural Resources: Challenges in Global Governance.”

 

Link to further information

The reports and discussion forum

FEBRUARY 2010

GEF HIGHLIGHTS CROP BIODIVERSITY PROJECT SUCCESS IN GEORGIA

The Global Environment Facility (GEF) featured the results of a project implemented with farmers in Georgia to reclaim forgotten crop varieties and landraces to diversify their agricultural production. The project has established a seed multiplication system to encourage local farmers to use and sow local landraces and by 2009, 28 land-races and varieties (52% of all known for Georgia) were being used for subsistence production, and seven land races (13% of all landraces) were in commercial use. Among the results of the project are: more than 80% of households are reporting higher pulse diversity on-farm, diversification of the family diet, and higher nutrition levels; the revived landraces and local varieties have demonstrated a much higher resistance to droughts, pests and harsh winters; and sales revenue for the farmers is rising with further financial returns gained through almost zero application of chemical fertilizers.

 

Links to further information

GEF press release, 9 February 2010

 

ADB SUPPORTS PROJECTS TO ADDRESS CLIMATE CHANGE CHALLENGES IN ASIA

The Asian Development Bank (ADB) is financing a series of studies and projects on climate change in Asia. Together with the United Kingdom it will fund a US$1.2 million study to help South Asia analyze the costs and benefits of climate change adaptation actions, through a study on “Regional Economics of Climate Change in South Asia Part II: Adaptation and Impact Assessment.” A climate policy simulation tool will be developed for policy makers in the region to show the economic consequences of different climate policy measures.

 

The ADB is also providing support to several projects, including  an evaluation of the potential to reduce greenhouse gases in five energy-intensive industries, namely iron and steel, power generation, chemicals, building materials and non-ferrous metals in the Yunnan Province, China. It will also fund the establishment and feasibility studies for large-scale concentrated solar thermal plants in China. Together with the Government of Japan, ADB will also strengthen the capacity of Bhutan’s National Environment Commission for developing mitigation and adaptation measures that can counter climate change by promoting hydropower and other renewable energy projects suitable for participating in the Clean Development Mechanism (CDM) under the Kyoto Protocol, and for potential carbon trading. With the Government of Australia, ADB will also provide funding to assess climate change threats and adaptation needs in the Mekong Delta region in Viet Nam.

 

Links to further information

ADB press release, 4 February 2010

ADB press release, 13 January 2010

ADB press release, 21 January 2010

ADB press release, 25 January 2010

ADB press release, 29 January 2010

 

WORLD BANK REPORTS ON PROGRESS MADE IN BUILDING HEALTH CLINICS AND WATER PUMPS IN KOSOVO

The World Bank has reported on some 320 projects it has been involved with under the Community Development Fund (CDF) project in Kosovo from 2001-2008. The projects aim to increase the quantity and quality of infrastructure and services in poor and conflict-affected communities, as well as the most vulnerable groups, and to promote local capacity building including participation and empowerment. The CDF financed the rehabilitation of the water system and, according to a review carried out by the CDF in consultation with stakeholders, a direct outcome of the CDF’s water supply projects has been a dramatic reduction of waterborne diseases. In addition, the water supply systems financed by the project have eliminated time and effort in carrying water.

 

Link to further information

World Bank press release, February 2010

 

UNEP CONVENES WORKSHOP ON GREEN ECONOMY REPORT

The UN Environment Programme convened a workshop on the Green Economy Report (GER) from 17-18 November 2009, in Geneva, Switzerland. The Green Economy Initiative (GEI) seeks to mobilize the global economy towards investments in key sectors of the economy and in ”natural” infrastructure such as forests and soils. The GER, a key component of the GEI, will seek to make a macroeconomic case for increasing public and private investments in “green sectors.” At the workshop, the coordinating authors and contributors presented the progress made and discussed pending issues. The report is expected to be finalized in June 2010 (IISD RS sources).

JANUARY 2010

GEF HIGHLIGHTS SUCCESS OF PROTECTED AREAS IN NAMIBIA IN RAISING REVENUES

The Global Environment Facility (GEF), through UNDP, has funded a project to evaluate the contribution of protected areas to the Namibian economy and to strengthen Namibia’s protected areas systems. A comprehensive analysis of the protected area system indicated that protected areas contributed 3.1-6.3% of the country’s GDP through park based tourism only, without including other ecosystem services values, and the economic rate of return on the government investment over 20 years was as much as 23% if the tourism concession potential is fully realized. Using these study results, the Government increased the annual budget for park management and development by 300% in the last four years. The Ministry of Finance also agreed to earmark 25% of the park entrance revenue to be reinvested in park and wildlife management through a trust fund, providing up to US$2 million in additional sustainable financing per year.

 

Link to further information

GEF press release, 26 January 2010

 

CLIMATE INVESTMENT FUNDS EXTEND FUNDS TO EXPRESS INTEREST IN FOREST PILOT PROJECTS

The Carbon Investment Funds (CIF) have announced the extension of a deadline, to 1 February 2010, for eligible countries to submit expressions of interest to participate in the first projects to be funded by the Forest Investment Program (FIP). An Expert Group will be invited to recommend five pilots to the Sub-Committee and a list of up to three additional countries to be considered should funds become available to finance additional pilots or should some of the selected pilots prove not to be feasible.

 

Link to further information

FIP pilot programs

 

WORLD BANK LAUNCHES GREEN BONDS FOR JAPANESE INVESTORS TO FINANCE LOW-CARBON PROJECTS

The World Bank and Daiwa Securities Group announced the issuance of green bonds to support projects for low-carbon development, designed specifically for investors in Japan. World Bank green bonds support World Bank-funded projects that are designed to tackle the causes and consequences of climate change in the developing world. The types of projects that may be supported by these bonds include alternative energy installations, funding for new technologies that reduce greenhouse gas emissions, reforestation, watershed management and flood protection. To date, the World Bank has issued the equivalent of approximately US$960 million of green bonds.


Link to further information

World Bank press release

 

WORLD BANK SEEKS INPUT ON ENVIRONMENTALLY SUSTAINABLE ENERGY DEVELOPMENT PATH

The World Bank issued a discussion paper, and is seeking comments, on Monitoring and Reporting on Financial Flows Related to Climate Change. The discussion paper first focuses on tracking, monitoring and reporting various types of flows and then looks at possible ways of tracking additionality in ODA flows only, with the aim of stimulating the discussion within the World Bank Group and its partners on this issue.
 

The study on monitoring financial flows for climate change has been prepared by World Bank staff in consultation with UNFCCC and OECD. Feedback and comments are requested by 9 February 2010, and should be sent to ahuhtala@worldbank.org.


Link to further information

Monitoring and reporting on financial flows related to climate change

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