Go to IISD's website

IISD Reporting Services - Linkages
bringing you the latest news, information and analysis from
international environment and sustainable development negotiations

 

MEDIA REPORTS

TRADE, FINANCE AND INVESTMENT IN SUSTAINABLE DEVELOPMENT

This page was updated on: 01/26/10

 

2009

 

Trade, Finance and Investment Media Reports Archives: 2010; 2008; 2007; 2006; 2005; 2004; 2003; 2002


DECEMBER 2009

GEF TO FUND CLEAN ENERGY TRANSPORT IN LATIN AMERICA
The World Bank has approved two Global Environment Facility (GEF) grants to fund clean energy transport in Mexican and Brazilian cities. Grants for  US$5.38 million  for cities in Mexico and US$8.53 million for cities in Brazil were approved as part of the regional Sustainable Transport and Air Quality (STAQ) Program, which seeks to reduce the emission of air pollutants in several important Latin American cities, fostering long-term increases in the patronage of less energy intensive transport modes. Participating cities were selected through a competition in which 47 cities from 12 countries in Latin America participated as part of the GEF’s STAQ Program implemented in Mexico, Brazil and Argentina.

Links to additional information
World Bank press release, 28 December 2009
World Bank press release, 29 December 2009

CLIMATE INVESTMENT FUNDS INVEST IN ENERGY EFFICIENCY AND CLEAN ENERGY TECHNOLOGIES
Countries governing the Climate Investment Funds (CIF) endorsed the infusion of a total of US$800 million from the CIF Clean Technology Fund (CTF) for Vietnam, the Philippines, and Thailand to invest in a range of innovative climate activities. These include catalyzing private sector investments in energy efficiency and renewable energy through local banks, transmission system upgrades to reduce losses and support renewable energy development, and significant urban transport improvements.

The CIF have also launched a new program: Scaling up Renewable Energy in Low Income Countries (SREP), with pledges for US$260.7 million. The Clean Technology Fund (CTF) also approved financing of US$750 million on 2 December 2009, to accelerate global deployment of Concentrated Solar Power (CSP). It will do so by investing in the CSP programs of five countries: Algeria, Egypt, Jordan, Morocco and Tunisia.

Links to additional information
CIF press release, 16 December 2009
World Bank press release, 14 December 2009

NOVEMBER 2009

DEVELOPMENT BANKS ADDRESS CLIMATE CHANGE, ENERGY EFFICIENCY AND RENEWABLES IN CHINA AND ADAPTATION IN THE PACIFIC

The European Investment Bank (EIB) is providing a total of EUR 134 million in four operations that will contribute to the abatement of 830 thousand tons of CO2 emissions per year in China. The projects include, inter alia, the construction and operation of a sodium carbonate and ammonium chloride co-product plant, using the CO2 currently vented from the existing fertilizer complex. All projects will seek CDM registration for carbon credit generation.

The Asian Development Bank (ADB) has approved US$3.47 million in grants to help the 14 Pacific developing countries build up their capacity to respond to challenges posed by climate change. Projects will support the mainstreaming of climate change risk management into each country’s development strategies and programs.

In related news, the Organisation for Economic Co-operation and Development (OECD) and the European Investment Bank (EIB) signed a cooperation agreement to share their expertise in support of sustainable development, including on the economics of climate change. The two institutions have agreed to cooperate by sharing knowledge in several areas including sustainable urban development, environmental sustainability and the economics of climate change.

 

Links to further information

EIB press release, 30 November 2009

ADB press release, 24 November 2009

OECD press release, 27 November 2009

 

WORLD BANK ORGANIZES ROUNDTABLE ON CLIMATE CHANGE AND INDIGENOUS PEOPLES

The World Bank organized a roundtable on Indigenous Peoples and Climate Change organized by the World Bank and First Peoples Worldwide, in Washington DC, USA.  The event brought together indigenous peoples representatives from around the world as well as non-governmental organizations, the private sector, and bilateral and international organizations to exchange ideas, forge partnerships, and create synergies to map the way forward for an Indigenous Peoples Climate Action Fund (IPCAF), a fund to be managed and implemented by First Peoples Worldwide, with the World Bank playing an advisory role.


Link to further information

World Bank press release, 18 November 2009

 

WORLD BANK GLOBAL DEVELOPMENT MARKETPLACE AWARDS US$4.8 MILLION TO INNOVATIVE ADAPTATION IDEAS

The World Bank awarded close to US$5 million to twenty-six innovative climate adaptation projects, through a contest for community-based ideas to tackle the effects of climate change. Winning projects include SZTR Sunce’s initiative to mitigate the effects of climate change induced bacterial blooms on commercial fishponds (Serbia); the University of Los Baños ‘Bell and Bottle’ initiative – providing a low cost, high efficacy flood and landslide warning system (the Philippines); and the International Network for Bamboo and Rattan’s idea to build elevated bamboo houses, essentially lifting communities in flood zones out of harm’s way (Ecuador).

 

Links to further information

World Bank press release, 13 November 2009

 

CLIMATE INVESTMENT FUNDS TO CHANNEL US$1.1 BILLION FOR AFRICA

The Climate Investment Funds (CIF) will invest US$1.1 billion through several projects. Mozambique, Niger and Zambia will each receive up to US$50-70 million in additional resources to help integrate climate risk and resilience into their core development planning. South Africa will receive US$500 million to support its goals of generating four percent of the country’s electricity needs from renewable energy by 2013, and  Morocco will receive US$150 million to help establish a national Energy Development Fund. Egypt will use US$300 to support relevant sector development policies and strategies, such as the Power Sector Strategy and Greater Cairo Urban Transport Strategy.


Link to further information

World Bank press release, 5 November 2009

 

CIVIL SOCIETY ORGANIZATIONS ENCOURAGED TO NOMINATE OBSERVERS TO CLIMATE INVESTMENT FUND’S SUB-COMMITTEES
The self-selection process for non-profit civil society observers on two sub-committees of the Climate Investment Fund’s (CIF) Strategic Climate Fund – the Forest Investment Program (FIP) and the Scaling up Renewable Energy Program in Local Income Countries (SREP) – is accepting nominations to participate as observers during CIF meetings and to register to vote on the nominees. Application instructions and criteria will be posted in Arabic, Bahasa Indonesian, Chinese, French, Nepali, Portuguese, Russian and Spanish, and nominations are due by 4 December 2009.
 

Links to further information

Call for nomination of experts

CIF CSO Self-selection process website

CIF website

WORLD BANK LAUNCHES MULTICAT PROGRAM TO INSURE AGAINST FLOODS, HURRICANES AND WIND STORMS
The World Bank launched the MultiCat Program – a catastrophe bond issuance platform that gives governments and other public entities access to international capital markets to insure themselves against the risk of natural disasters. The types of events that may be insured are earthquakes, floods, hurricanes and other wind storms. The platform, designed specifically to help governments from developing countries access affordable insurance coverage through the capital markets, allows participants to buy insurance coverage for multiple perils, countries and regions. The program is flexible and supports a wide variety of structures, including the pooling of multiple risks, to take advantage of diversification benefits.

Link to further information
World Bank press release

OCTOBER 2009

FOREST CARBON PARTNERSHIP FACILITY VISITS AMERINDIAN COMMUNITIES IN GUYANA TO DISCUSS REDD
Government, civil society and donor representatives met with 16 Amerindian communities in Guyana on a multi-stakeholder visit requested by the Global Forest Carbon Partnership Facility (FCPF) Participants Committee, to approve a preparation grant for Guyana aimed at financing the REDD design phase.

Guyana is a lead participant in the FCPF, an initiative administered by the World Bank, involving 50 donor and forest countries to help countries develop REDD strategies. Guyana is currently refining its Low Carbon Development Strategy, which provides an overarching development framework that would be mainly financed by REDD.  

A US$200,000 seed grant will be provided to support further REDD formulation efforts. The grant will fund technical studies coordinated by the Forestry Commission and information efforts and community awareness activities coordinated by the National Toshao’s Council.

Link to further information
World Bank press release, 13 October 2009

IDB FUNDS SECOND-GENERATION BIOFUEL STUDY IN CHILE
The Inter-American Development Bank (IDB) will fund a feasibility study in Chile to explore sustainable biodiesel derived from forest industry byproducts and wood waste, which do not compete with food production. The grant will help ForEnergy to initially build a facility for producing hydrogen and steam from woodchips or other woody biomass through a gasification process. In a second phase, these gases will be converted into a type of biodiesel using Fischer-Tropsch process.

Link to further information
IDB press release, 6 October 2009

GEF, UNEP AND PARTNERS LAUNCH RENEWABLE ENERGY PROJECT INSURANCE SCHEME
The Global Environment Facility (GEF) and the UN Environment Programme (UNEP) have backed a global renewable energy insurance facility, which will offer an innovative mechanism for insuring renewable energy projects in developing countries. The facility was launched by Munich, RSA Insurance Group (RSA), and CarbonRe. It will be operated via an internet website and will offer standard and customized insurance solutions for renewable energy projects in developing countries.

Link to further information
The Global Renewable Energy Insurance Facility website

SEPTEMBER 2009

IDB RELEASES NEW VERSION OF BIOFUELS SUSTAINABILITY SCORECARD
The Inter-American Development Bank (IDB) has released a new version of its Biofuels Sustainability Scorecard, which will enable users to better anticipate the impacts of potential biofuel projects on sensitive issues such as indigenous rights, carbon emissions from land use change, and food security.

Link to further information
Biofuels Sustainability Scorecard

WORLD BANK EXCEEDS TARGET ON INVESTMENTS IN RENEWABLE ENERGY AND ENERGY EFFICIENCY
The World Bank Group’s investments in renewable energy and energy efficiency projects and programs in developing countries rose 24% in the last fiscal year to reach US$3.3 billion. According to the Bank, it has thus exceeded its commitments made at the Bonn International Renewable Energies Conference in 2004 to increase support for new renewable energy and energy efficiency, reaching US$7 billion over the period 2005-2009, more than three-and-a-half times the target.

Link to further information
World Bank press release, 10 September 2009

WORLD BANK ANNOUNCES DEVELOPMENT MARKETPLACE FINALISTS
The World Bank announced 100 finalists of the Development Marketplace contest on Climate Change Adaptation. Twenty-five projects will receive grants of up to US$200,000 and were selected based on their innovation, objective and measurable results, project design and organizational capacity, sustainability of impact, and growth potential. The finalists come from 47 countries and will present their projects at World Bank Headquarters in Washington, DC, US, in mid-November.

Link to additional information
Development Marketplace website

GEF FUNDS INNOVATIVE PAYMENT FOR ECOSYSTEM SERVICES (PES) PROJECT
The Global Environment Facility (GEF) is funding a project in Colombia, Costa Rica and Nicaragua aimed at improving ecosystem functioning of degraded pasture lands through the silvo-pastoral systems that generate global environmental benefits while providing socio-economic benefits. Perhaps one of the most innovative outcomes of this project is the establishment of a differentiated payment scheme according to the degree of environmental service being provided, thus providing incentives for higher levels of conservation.

Link to further information
GEF press release

EVALUATION OF COSTS OF ADAPTATION TO CLIMATE CHANGE PUBLISHED
The International Institute for Environment and Development (UK) and the Grantham Institute for Climate Change, Imperial College London (UK) have published an evaluation entitled “Assessing the costs of adaptation to climate change: a review of the United Nations Framework Convention on Climate Change (UNFCCC) and other recent estimates.” The costs have been used as the basis for discussion regarding the levels of investment needed for adaptation to climate change and have been influential in the debate concerning funding for climate change. The purpose of the report is to assess these estimates and consider ways to improve them in the future.

The report maintains that the real costs of adaptation are likely to be two to three times greater than estimates for the year 2030 made by the UNFCCC in 2007, and it indicates that this underestimation could weaken the outcome of UNFCCC negotiations, which are due to culminate in Copenhagen in December. The UNFCCC has estimated the global costs of adapting to climate change to be US$40-$170 billion each year. But the reports authors say that these estimates were produced too quickly and did not include key sectors such as energy, manufacturing, retailing, mining, tourism and ecosystems. Other sectors that the UNFCCC did include were only partially covered. The report also evaluates estimates of the costs of adaptation made by preceding studies by the World Bank, 2006; by Sir Nicholas Stern, 2006; by Oxfam, 2007; and by the UN Development Programme, 2007.

Links to further information
The report
ENS News report, 27 August 2009

JULY 2009

UN EXECUTIVE HEADS CALL FOR COPENHAGEN TO BE TURNING POINT FOR A GLOBAL GREEN ECONOMY
The United Nations System Chief Executives Board for Coordination (CEB), which groups the executive heads of the organizations of the UN system, issued a statement saying that the solidarity of the international community is being tested and economic recovery should be “the turning point for an ambitious and effective international response to the multiple crises facing humanity.” They further noted “the most representative testing case is when governments meet to seal the deal on climate change in Copenhagen in December 2009. Let Copenhagen be the turning point for ushering in a global green economy.” Their joint statement was issued as an initiative of CEB’s High-level Committee on Programmes (HLCP).

Link to further information
Joint statement

WORLD BANK SEEKS COMMENTS ON ITS WORK ON CLIMATE CHANGE
The World Bank is seeking comments on the implementation of its Strategic Framework on Development and Climate Change. In order to help disseminate its climate-related work since the adoption of the Framework in 2008, the Bank has issued a special report on “The Bank Group at Work” and a “Technical Report.” Comments will be posted online, and the deadline for submissions is 31 July 2009.

Links to further information
World Bank consultations

JUNE 2009

APPLICATION PROCESS ANNOUNCED FOR CSO OBSERVERS IN WORLD BANK CLIMATE INVESTMENT FUNDS
The self-selection process for civil society, indigenous peoples and business representatives to participate as observers in the recently created World Bank Climate Investment Funds has been announced. Applications, instructions and criteria for civil society representatives are available on the RESOLVE website for seats on the Clean Technology Fund and the Strategic Climate Fund, as well as on the sub-committee dealing with the Pilot Program for Climate Resilience. Applications should be submitted before 15 July 2009. Civil society members, organizations, and networks are also invited to provide input on the ranking of the candidates for selection. Representatives from NGOs in developing countries are particularly encouraged to apply, and the guidelines for applications indicate that their participation in meetings will receive financial support.

The World Business Council on Sustainable Development is organizing a different process for the private sector observer seats, and the United Nations Permanent Forum on Indigenous Issues (UNPFII) selected representatives of indigenous peoples.

Links to further information
World Bank CIF selection of observers
RESOLVE website

GEF POSTS DOCUMENTS FOR JUNE’S COUNCIL AND REPLENISHMENT MEETINGS
The Global Environment Facility (GEF) has posted online a number of documents, including: a proposed GEF adaptation strategy 2010-1014 featuring innovative features for the Least Developed Countries Fund (LDCF) and Special Climate Change Fund (SCCF); the interim report of the Fourth GEF Overall Performance Study (OPS4); and a report on the implementation of the Resource Allocation Framework (RAF). The documents will be addressed during the June 2009 meetings of the GEF Council and GEF Replenishment. A publication on the mid-term review of the RAF, discussed in the GEF Council meeting in November 2008, has also been posted online.

Links to further information
GEF Fifth Replenishment Meeting documents
GEF Council Meeting documents

MAY 2009

WORLD BANK FUNDS ENERGY EFFICIENT LIGHTING PROJECT IN TOGO
The World Bank approved an Efficient Lighting Project for the City of Lome, Togo including a Global Environment Facility (GEF) grant totaling US$1.82 million to disseminate at least 400,000 compact fluorescent light bulbs (CFLs) to replace incandescent light bulbs currently in use; organize outreach and awareness-building campaigns aimed at promoting an energy efficiency culture; and introduce a regulatory and quality control mechanism in the national distribution market for CFLs.

Link to further information
GEF press release, 28 May 2009

WORLD BANK APPROVES FIRST CLIMATE INVESTMENT FUND PROJECT IN TURKEY
The World Bank approved a US$600 million loan to fund energy efficiency and renewable energy in Turkey. The financing includes US$100 million from the Clean Technology Fund (CTF), a new US$5.2 billion multilateral fund managed by the World Bank to provide low-interest financing to scale up low carbon technologies to reduce greenhouse gas emissions during the period until a new global climate change agreement is negotiated and becomes effective. The loans will be channeled towards two Turkish development banks for credit line financing of renewable energy and energy efficiency investments.

The project aims to increase privately owned and operated energy production from local renewable sources within the market-based framework of the Turkish Electricity Market Law, thereby helping to enhance energy efficiency and curb greenhouse gas emissions as a result. The project aims to tap Turkey’s significant renewable energy potential from hydro, wind, solar, biomass, geothermal, and other resources. Moreover, the project includes energy efficiency measures to help reduce waste in energy consumption.

Link to further information
World Bank press release, 28 May 2009

EIB LENDS EUR 100 MILLION FOR CLIMATE CHANGE MITIGATION IN VIET NAM
The European Investment Bank (EIB) will co-finance investments that will contribute to the mitigation of climate change through a EUR100 million loan. Viet Nam’s Ministry of Finance will make available 70% of the proceeds of the EIB’s framework loan to four state-owned banks, who will on-lend the funds to final beneficiaries carrying out investments that contribute to climate change mitigation, through renewable energy or energy efficiency projects.

Link to further information
EIB press release, 26 May 2009

WORLD BANK FUNDS ENVIRONMENT AND GHG REDUCTION IN CHINA
During the month of May, the World Bank approved a loan of US$80 million to fund the utilization of coal bed methane (CBM) and coal mine methane (CMM) as substitutes to coal in China. It also approved two new loans to China, totaling US$150 million, to improve water resources management in Yunnan Province and  Lake Dianchi and a Global Environment Facility (GEF) Grant of US$19.7 million to raise thermal power efficiency in Shanxi, Shandong and Guangdong Provinces.

Links to further information
World Bank press release , 5 May 2009
World Bank press release, 20 May 2009

DRAFT OUTCOME TEXT FOR UN SUMMIT ON GLOBAL FINANCIAL CRISIS ISSUED
On 8 May, UN General Assembly President Miguel D’Escoto presented the draft outcome document prepared for the upcoming UN High-Level Conference on the World Financial and Economic Crisis and its Impact on Development. The meeting is expected to cover six priority areas – global stimulus for restructuring and survival, finance for restructuring and survival, emergency trade stimulation and debt relief, global and regional reserve systems, regulation and coordination of global economy, and restructuring international institutions. During a recent press conference, D’Escoto noted the need for donors to fulfill their pledge to provide 0.7 percent of GDP as overseas development assistance, and highlighted that the draft outcome document identifies new innovative sources of funding for development through the creation of a global public goods authority and an international tax base system. The document refers to regulation with taxes, permits, fines and controls of international ocean waters, space management and cyberspace management. The document also proposes an international taxation system that contributes to environmental sustainability, reduction of speculation in financial markets as well as income, including carbon taxes, pollution emission taxes and financial transaction taxes. The proposal envisages that carbon taxes would also cover a program for environmental refugees affected by climate change.

The high-level event will be held at the UN Headquarters in New York, US, from 1-3 June 2009. The final outcome is expected to detail the role of the United Nations in tackling the crisis, as well as the way forward and the participation of developing countries not directly involved in the Group of 20 major economies.

Links to further information
UN News Centre, 8 May 2009
UN press conference, 8 May 2009
UN press conference, 7 May 2009
UN press conference, 1 May 2009

AfDB SEEKS COMMENTS ON ITS 2008 SUSTAINABILITY REVIEW OF PRIVATE SECTOR OPERATIONS
The African Development Bank (AfDB) issued its first review of the sustainability of its public sector operations. The review clarifies how sustainable development is a core concept of private sector operations and is fully integrated into the Bank’s working procedures. Stakeholders and interested parties are encouraged to provide feedback to the following email address (private-sector@afdb.org).

Links to further information
The review

APRIL 2009

EBRD FUNDS CLEAN ENERGY INVESTMENTS ACROSS EASTERN EUROPE AND THE BALKANS
The European Bank for Reconstruction and Development (EBRD) is intensifying its lending for energy efficiency and clean energy projects. It has recently established two new facilities worth a total of €110 million to finance investments by enterprises in the Western Balkans in energy efficiency and renewable energy projects. This is a continuation of the EBRD’s drive to promote energy efficiency and to unlock new sustainable sources of energy throughout the whole EBRD region, including in the Western Balkans where energy intensity remains relatively high.

The EBRD also approved a €15 million loan to the United Bulgarian Bank to promote lending to private industrial companies in Bulgaria to finance energy efficiency and small renewable energy projects. It is also financing an independent Siberian energy firm’s gas flaring project, with a loan of up to €90 million to help Irkutsk Oil Company implement a plan to cut gas flaring at its East Siberian oilfields by the end of this year and to restructure its debt. 

Link to further information
EBRD press releases

IFC PROVIDES GUARANTEE FOR SUSTAINABLE FINANCE TRADE DEALS
The International Finance Corporation (IFC), part of the World Bank Group, will provide Pakistan’s Allied Bank with guarantees for sustainable finance and energy-efficient trade deals. This product is expected to be replicated with other banks in the IFC Global Trade Finance Program network.

Link to further information
IFC press release

WORLD BANK CLIMATE INVESTMENT FRAMEWORK REQUESTS FEEDBACK ON FOREST PROGRAM
The World Bank is seeking feedback on the design documents for its Forest Investment Program (FIP), a part of its Climate Investment Framework (CIF) that seeks to pilot and demonstrate new approaches to forest management that lead to major impacts in reducing greenhouse gas emissions from forests. The deadline for comments on the design documents is 6 April 2009. A revised document will then be prepared for approval at the final design meeting, to be held on 7-8 May 2009, in Washington DC, US.

Link to further information
World Bank CIF website

MARCH 2009

BRAZIL RECEIVES US$1.3 BILLION ENVIRONMENTAL LOAN FROM WORLD BANK
The World Bank’s Board of Executive Directors approved, on 5 March 2009, a US$1.3 billion loan to support Brazil in improving the effectiveness and efficiency of the Brazilian environmental management system, and to further integrate sustainable development in the development agenda of key sectors. The loan is one of the largest environment-focused loans ever made, and the first time in the Bank’s history that a project has been broadened to include existing programs in various sectors to improve overall project implementation. The $1.3 billion Development Policy Loan aims to help Brazil attain sustainable development goals linked to economic growth, from Amazon sustainable development to climate change as well as the water sector. Additionally, Brazil’s Brazilian Development Bank (BNDES), which issues more than US$40 billion in loans per year, will operate under new environmental safeguards and criteria. The project will also treat climate change concerns at both the inter-sectoral level and within the targeted sectors (natural resources, water, sanitation, and energy).

Links to additional information
World Bank press release, 25 March 2009
World Bank press release, 5 March 2009

GEF APPROVES CLIMATE-RELATED PROJECTS
The Global Environment Facility (GEF) Council has approved an intersessional work programme, including climate change projects amounting to US$47.46 million. Climate projects approved include several energy efficiency projects in China, India, Turkey and Russian Federation, and a sustainable transport project in Pakistan. The energy efficiency projects target energy efficiency in commercial buildings, in the railway system, in small and medium-sized enterprises, and in industry.

Link to further information
GEF intersessional working programmes

GEF AND WORLD BANK SUPPORT NEW TIGER CONSERVATION PROJECT
The Global Environment Facility (GEF) and World Bank, along with the Wildlife Conservation Society (WCS), announced a US$2.8 million project to involve all tiger range states in high-level discussions for tiger conservation. The project will complement existing efforts under the Global Tiger Initiative and will support the broad participation of other conservation organizations, including TRAFFIC, WWF and IUCN. Other project activities include assistance to local governments in China and Vietnam to reduce illegal wildlife trade, one of the main threats facing wild tigers.

Links to further information
GEF press release, 26 February 2009

Global Tiger Initiative

FEBRUARY 2009

IDB ANNOUNCES ENERGY INNOVATION CONTEST
The Inter-American Development Bank (IDB) has organized a contest to finance multiple proposals for promoting energy efficiency and access to renewable energy in Latin America and the Caribbean. The contest will award up to US$200,000 in funding and is funded by IDB, GVEP International, GTZ and the Government of the Republic of Korea. The Energy Innovation Contest seeks to jump-start the development of novel solutions to the energy shortages afflicting the region, particularly in rural and low-income areas. It will award between US$4 million and US$6 million over the next three years.

Link to further information
IDB press release, 27 February 2009

WORLD BANK APPROVES ENVIRONMENTAL LOAN FOR PERU
The World Bank approved a US$330 million loan to Peru, on 17 February 2009, to strengthen the new Ministry of the Environment and improve environmental management in key sectors of the Peruvian economy, including mining, urban transport, fisheries and biodiversity conservation. The new Ministry of Environment commenced operations in December 2007, in light of the ratification of the Free Trade Agreement between Peru and the US, which creates benchmarks for environmental regulations in Peru.

Link to further information
World Bank press release, 17 February 2009

NGOs QUESTION WORLD BANK LOANS FOR ADAPTATION
A group of non-governmental organizations, Action Aid USA, Friends of the Earth International and Jubilee USA Network, have issued a press release questioning the adequacy of World Bank loans to poor countries to address adaptation. They stress that, the “World Bank must provide grants, not loans, to finance adaptation to climate change. After all, the Bank's largest shareholders caused the climate crisis through their emissions. Asking poor countries to go into further debt to clean up a mess they didn't create is outrageous.”

The Pilot Program on Climate Resilience (PPRC) is the first operational program in the World Bank’s Strategic Climate Fund. The objective of the PPCR is to explore ways to integrate climate risk and resilience into core development planning. The PPCR would provide approximately US$500 million in grants and loans. Bangladesh, Bolivia, Cambodia, Mozambique, Nepal, Niger, Tajikistan and Zambia have been invited to participate in the PPCR.

Links to further information
Joint NGO Press Release, 5 February 2009
World Bank Press Release, 30 January 2009
Carbon Investment Funds website

ADB CONSIDERS REVISED ENERGY POLICY TO INCORPORATE CLIMATE CHANGE CHALLENGES
The Asian Development Bank’s (ADB) Board of Directors is currently reviewing an update to its Energy Policy, a document that guides the Bank’s operations in the energy sector. The draft policy has been finalized incorporating views received from both internal and external stakeholders and will align ADB’s energy operations to meet energy security needs, facilitate a transition to a low-carbon economy, and achieve ADB’s vision of a region free of poverty. ADB expects the Board of Directors to adopt the updated energy policy in March 2009.

Link to further information
Proposed updated ADB Energy Policy

WORLD BANK SEEKS FEEDBACK ON CLIMATE CHANGE STRATEGY IN SOUTH ASIA
The World Bank’s South Asia region is in the process of seeking feedback from interested parties on its draft climate change strategy. The strategy, titled “Towards a Climate Change Strategy for South Asia,” will articulate the guiding principles for the Bank's climate-related work in the region. This is part of an ongoing consultation process that will be held around the region from 1 February-31 March 2009.

Link to further information
“Consulting on climate change in South Asia”

WORLD BANK ANNOUNCES CLIMATE CHANGE-RELATED COMPETITIONS
The World Bank invites young people up to 25 years old to enter its annual essay competition on how climate change affects youth, and how to tackle it with youth-led solutions. The deadline for submissions (which may include videos and photos) is 22 February 2009. Authors should think how climate affects them in their country, town or local community, and evaluate its consequences, as well as the role of youth-led initiatives in the ‘green economy.’

This year’s Development Marketplace competition for seed grants will be focused on innovations for climate change adaptation. Eligibility requirements and grant size will be announced soon.

Links to further information
The essay competition
The Development Marketplace awards

GENERAL ASSEMBLY PRESIDENT PROPOSES MODALITIES FOR MEETING ON FINANCIAL CRISIS
Miguel D’Escoto Brockmann, UN General Assembly President, as a follow-up to last year’s Doha Declaration on Financing for Development, has proposed a draft resolution on the organization of a conference on the financial and economic crisis and its impact on development. The Doha Declaration requires that modalities for such a conference be decided by the end of March 2009, at the latest. In this connection, the General Assembly President has released the first draft of a resolution containing the proposed modalities for the organization of the conference, including consultations and the proposed dates of 26-29 May 2009.

Links to further information
UNGA President’s letter proposing modalities for the Conference, 28 January 2009
UN Non-Government Liaison Service (NGLS)

JANUARY 2009

QATAR JOINS GLOBAL GAS FLARING REDUCTION PARTNERSHIP
The World Bank’s Global Gas Flaring Reduction partnership (GGFR) welcomed Qatar as the first Gulf State to join the global effort to reduce the flaring of gas associated with oil production. The GGFR partnership estimates that globally some 150 billion cubic meters (bcm) of gas are flared or wasted every year, adding about 400 million tons of greenhouse gases in annual emissions. This is equivalent to almost all the potential yearly emission reductions from projects currently submitted under the Kyoto mechanisms. The amount of gas flared in the Middle East alone (about 30 bcm) could feed a 20 million ton liquefied natural gas plant. The World Bank thus called on other oil producing countries and companies in the Middle East to join worldwide efforts of reducing the venting or flaring of natural gas, and of increasing energy efficiency to mitigate climate change.

Link to further information
World Bank Press release, 25 January 2009

GEF DEVELOPS FIVE NEW PROGRAMMATIC APPROACHES
The Global Environment Facility (GEF) has highlighted its shift in the focus of its portfolio to a programme-based approach, in an effort to secure larger-scale and a more sustained impact on the global environment. In this regard, five new programme approaches approved by the GEF Council during its 34th Council meeting in November 2009 include: a GEF Strategic Programme for West Africa on Biodiversity, led by the World Bank, to scale-up biodiversity conservation and sustainable use in the region in support of poverty alleviation and growth; a GEF Strategic Programme for West Africa on Energy led by UNIDO, to scale up investments in renewable energy and energy efficiency in the region; a Framework for Promoting Low Greenhouse Gas Emission Buildings led by UNDP, aimed at promoting low-energy and low-emissions buildings, with projects submitted by UNDP and some by UNEP; a programme to Reduce Industry�s Carbon Footprint in Southeast Asia through Compliance with a Management System for Energy, led by UNIDO, which aims to promote sustainable energy efficiency improvement in the industrial sector through training at the level of systems and facilitating the introduction of energy management standards, involving five national projects in Indonesia, Philippines, Thailand, Vietnam and Malaysia; and a Strategic Programme for Sustainable Forest Management in the Congo Basin led by the World Bank, aimed at strengthening the protection and sustainable management of forest ecosystems, and also contributing to long-term innovative finance architecture for sustainable forest management in the region by supporting payment schemes for ecosystem services, public-private partnerships and the establishment/strengthening of trust funds. 

Links to further information
GEF Press Release, 9 January 2009
GEF Council documents

up to top