2007
Trade, Finance and Investment Media Reports Archives:
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DECEMBER 2007
UNDP AND GEF INAUGURATE WIND FARMS IN ERITREA
The UN Development Programme (UNDP), in
cooperation with the Global Environment Facility (GEF) and the Eritrean
Ministry of Energy and Mines, has inaugurated the first wind generated
electric power in Assad, Eritrea. The wind power project was initiated
in 2003 and it aims at transforming the market for wind energy
applications through investments in and replication of new technology.
Currently, the project is expected to generate electricity of 600 KWH
per annum with a potential up to 750 KWH, contributing to a lower
dependence on imported fossil fuels and reducing greenhouse gas
emissions through the partial displacement of diesel generating
facilities. An additional objective of the project is to help achieve
the Millennium Development Goals, especially the goal pertaining to "the
protection and sustainable use of the environment."
Link to
further information
UNDP Press release, 18 December 2007
WTO STRENGTHENS REQUIREMENTS FOR ENVIRONMENTAL
EXCEPTIONS IN BRAZIL TYRE CASE
The World Trade Organization (WTO) Appellate Body issued a ruling on
3 December 2007, confirming a prior WTO panel report's assessment that
Brazil had violated multilateral trade rules by applying an import ban
on used and retreaded tyres based on health and environmental
considerations, in a discriminatory manner. The Appellate Body, however,
strengthened the requirements to bring Brazil's import ban into
compliance with the WTO. While both the Panel and the Appellate Body
accepted that Brazil's import ban could be justified for public health
reasons, the latter estimated that an exemption towards Mercosur
countries (a free trade area including Brazil, Argentina, Paraguay and
Uruguay) had led to the import ban being applied "in a manner that
constitutes arbitrary or unjustifiable discrimination." The fact that
the Appellate Body
disagreed with the Panel's estimation that trade volumes with Mercosur
were negligible will make it more difficult for Brazil's capacity to easily bring the
regulation back in compliance with the WTO. Brazil will now need to
change Mercosur regulations, while under the previous ruling by the
Panel it could revert to compliance by stopping specific Supreme Court
injunctions.
Links to
additional information
WTO Summary of the Case: "Brazil-
Measures Affecting Imports of Retreaded Tyres"
"WTO Appellate Body agrees with EU, reinforces ruling against Brazil
tyre import ban"
ICTSD Bridges, 5 December 2007
EU AND US PROPOSE ELIMINATING TARIFFS RELATED TO
MITIGATING CLIMATE CHANGE
The United States and the European Union
presented a joint submission to the World Trade Organization (WTO)
Committee on Trade and Environment Special Session (CTE-SS), on 30
November 2007, proposing to eliminate trade barriers facing goods and
services directly related to mitigating climate change. According to the
proposal the "ultimate objective should be a zero tariff world for
climate friendly goods in the near future and no later than 2013." The
list of environmentally friendly goods proposed includes 43 products
identified by a recent World Bank report on trade and climate change,
covering products ranging from solar collectors and system controllers,
to wind-turbine parts and components, stoves, grates and cookers,
and hydrogen fuel cells. Developing countries offered mixed reactions,
as they contended that most products on the list are primarily of export
interest to industrialized countries. Brazil, for example, has proposed
the inclusion of biofuels (a product it exports) in the list of
environmental goods (IISD Sources; ICTSD Bridges, 5 December 2007).
Links to
additional information
"Summary
of U.S. and EC Proposal for Liberalizing Trade in Environmental
Goods and Services in the WTO DDA Negotiations," European
Union, 30 November 2007
"EU and US propose new WTO green trade agreement for Doha round;"
European Commission, 30 November 2007
"EU, US Call for Eliminating Trade Barriers to Climate-Friendly Goods
and Services;"
ICTSD Bridges, 5 December 2007
WTO PROPOSAL LIMITS SUBSIDIES ON FISHERIES
New negotiating
proposals at the World Trade Organization (WTO) impose limits on
subsidies for fisheries, a move welcomed by conservation
non-governmental organizations concerned about overfishing. The
proposals from the chair of the Doha Round negotiations on rules do not
propose a blanket ban but list a number of subsidies, including those
for the construction of new vessels and for operating costs of
fisheries, which would be banned.
Link to further information
The
proposals
ICTSD Bridges, 5 December 2007
NOVEMBER 2007
UNEP LAUNCHES
ALTERNATIVE ENERGY GENERATION INITIATIVES
Two alternative energy projects, led the UN
Environment Programme (UNEP) and funded by the Global Environment
Facility (GEF), aiming to develop new forms of indigenous energy in
parts of Africa, were launched on 8 November 2007. Cogeneration for
Africa seeks to use waste from the sugar industry to generate
electricity, and the initiative has been endorsed by, among others,
Kenya, Malawi, Mozambique, Rwanda, Tanzania and Zambia. Greening the
Tea Industry entails a small-scale hydro initiative to deliver power
to tea plantations across Eastern and Southern Africa. The projects are
expected to cut greenhouse gas emissions, reduce energy costs and
enhance the sugar and tea industries' global competitiveness.
Link to further information
UNEP Press release, 8 November 2007
OCTOBER 2007
BIGGEST US PENSION
FUND CALLS FOR DISCLOSURE OF CLIMATE RISK
The US' biggest pension fund, the California Public Employees'
Retirement System (Calpers), has called for the US Securities and
Exchange Commission to force publicly traded companies to disclose their
climate-related risks. They joined other institutional investors,
environmental groups and New York Attorney General Andrew Cuomo in
asking for four main disclosures to analyze a company's business risk
and opportunities from climate change, including emissions, climate risk
and emissions management, physical risks of climate changes and
regulatory risks.
Link to further information
ENN/Reuters News Release, 31 October 2007
WORLD BANK CREATES
TWO NEW CARBON FINANCE FACILITIES
The World Bank has announced that it will establish two new carbon
finance facilities, to help increase the world's ability to tackle
global climate change and deforestation. The Forest Carbon Partnership
Facility will compensate developing countries for carbon dioxide
reductions realized by maintaining their forests. In addition, the
Forest Carbon Partnership Facility will support programs targeting the
drivers of deforestation and develop activities to reach out to poor
people who depend on forests to improve their livelihoods. The Carbon
Partnership Facility will be used in areas such as power sector
development, energy efficiency, gas flaring, transport, and urban
development, including integrated waste management systems.
Link to additional information
World Bank Press Release, 11 October 2007
BRAZIL PROPOSES
INCLUDING BIOFUELS IN WTO ENVIRONMENTAL GOODS NEGOTIATIONS
The World Trade Organization (WTO) Committee on Trade and Environment
special session (CTE-SS) met informally on 2 October 2007, to continue
advancing on its Doha mandate to negotiate "the reduction or, as
appropriate, elimination of tariff and non-tariff barriers to
environmental goods and services." At the meeting, Brazil proposed
including biofuels in the list of products identified for tariff cuts,
and suggested determining such list on the basis of a request-offer
process (JOB (07/146)). Brazil's proposal to list biofuels as an
environmental good was meet with some scepticism by developed
countries, which place high tariffs on ethanol (like the US and the EU).
The proposed "request-offer" process to determine the list, however, was
contemplated as a possible way out for the current deadlock between
countries favoring a list of products and those proposing the end use
(for example waste management activities) to determine which products
will receive more favorable tariff treatment. The Brazilian proposal
will be further addressed in the next session of the CTE-SS scheduled
for 1-2 November 2007 (Source: ICTSD).
Link to
additional information
ICTSD Bridges, 10 October 2007
WORLD BANK INADEQUATELY CONSIDERED
FOREST-RELATED SAFEGUARDS IN DRC - INSPECTION PANEL
The World Bank's Inspection Panel is reported to have found that two
projects funded by the Bank since 2002 in the Democratic Republic of
Congo's rainforests inadequately considered many important
socio-economic and environmental issues of forest use, which are
embedded within the Bank's safeguard policies designed to protect
natural habitats and the rights of people living in them.
Link
to further information
Rainforest Foundation News Release, 3 October 2007
CHINA JOINS INITIATIVE
TO REDUCE THE RELEASE OF CARBON DIOXIDE
China, which produces 70% of the world's
light bulbs, has agreed to phase out incandescent bulbs in favor of
energy-efficient compact fluorescent bulbs. China is the first
developing country to join a Global Environment Facility (GEF) programme,
which will provide about US$ 25 million to support the initiative in
China. The program will be formally announced in December 2007 at the
climate change meetings in Bali, Indonesia, as the GEF affirms that a
shift to more efficient bulbs from traditional incandescent ones could
mitigate 500 million tonnes of the greenhouse gas carbon dioxide
annually, and the transition could be made in the next 10 years.
Link to
additional information
Reuters News story,
1 October 2007
SEPTEMBER 2007
SEAL HUNTING DISPUTE LIKELY TO LAND AT WTO
The Canadian Government has requested
consultations with the European Union (the first step in the WTO dispute
settlement procedure) to challenge Belgian and Dutch bans on the import
and marketing of seal products (WT/DS369/1). Canada contends that
sealing is an important way of life for many Canadians, and has
traditionally opposed pressure by animal rights groups to end seal
hunting. The seal hunt employs around 6,000 Canadians per year,
including Inuit and other Aboriginal peoples. The biggest market for
Canada's seal products is Norway, which is not a member of the EU. In
Europe, Canada's annual seal hunt has long been condemned by animal
rights activists as cruel, and it is facing a number of possible bans on
its seal products in European nations. A dispute settlement panel may be
established if Canada and the EU do not arrive at a solution within 60
days.
Links to
additional information
WTO Dispute Settlement Case
Business Week News Story, 26 September 2007
Planet Ark News Story, 1 August 2007
GEF SEEKS PROJECTS ON CLEAN LIGHTING TECHNOLOGY FOR AFRICA
The Global
Environment Facility (GEF) and World Bank have launched a "Lighting
Africa Development Marketplace Grant Competition" to provide grants for
projects addressing the off-grid lighting needs of Sub-Saharan Africa,
including alternative distribution models, new clean lighting
technology, stronger production chains and improvement of the policy
environment. A total of US$ 2.5 million in awards will be allocated to
10-20 winning projects, for a maximum duration of 18 months. The
deadline for applications is 31 October 2007.
Link to further information
Lighting Africa Development Marketplace
EU APPEALS WTO RULING ON
ENVIRONMENT-RELATED IMPORT BAN
The EU has appealed a WTO Panel ruling that upheld Brazil's right to ban
imports of retreaded tires due to environment and health concerns.
Brazil has argued that the import restrictions and associated fines were
necessary to meet public health goals, as used tires may provide fertile
grounds for disease vectors to breed. It based its arguments on GATT
Article XX(b), which allows governments to limit trade when necessary in
order to protect human, animal, or plant life and health.
The EU's appeal, which was announced on
3 September, follows a decision that Brazil could maintain its ban on
imports from EU countries as long as it also stopped the import of used
tires from other nations.
Environmental non-governmental
organizations called on the EU to withdraw the appeal noting the value
of the Panel's report for the interpretation of environmental rules
within the WTO (Sources: WTO; ICTSD Trade BioRes, 7 September 2007).
Links to further information
WTO Documents
ICTSD Trade BioRes
Letter from CIEL and WWF to Commissioner Mandelson
UN PREPARES FOR
HIGH-LEVEL DIALOGUE ON FINANCING FOR DEVELOPMENT
The UN has presented a note on the organization of work for the
High-level Dialogue on Financing for Development to be held at UN
headquarters in New York, from 23-24 October 2007. The High-level
Dialogue will consist of a series of plenary and informal meetings on
the status of implementation of the Monterrey Consensus and tasks ahead.
Six interactive multi-stakeholder round tables on the themes based on
the structure of the Monterrey Consensus will also be held, with
participation of three representatives of civil society organizations.
On 10 August 2007, a report by the UN Secretary-General on the
implementation status of the agreements reached at the 2002
International Conference on Financing for Development was released. The
report notes positive developments relating to developing countries'
progress in macroeconomic and fiscal management, while expressing
concerns over lack of progress in reducing
poverty levels and improving wealth distribution, as well as a
significant increase in the total debt of developing countries. In
addition, the report notes that current and projected levels of ODA for
the period 2006-2010 still fall far short of targets to achieve the
Millennium Development Goals.
Civil Society organizations can register for the High-level Dialogue on
Financing for Development, as well as the informal interactive hearings
taking place on 22 October 2007, at
http://www.unngls.org/ffd/sign.php.
Link to further information
Financing for Development Reports and Summaries.
JULY 2007
WTO COMMITTEE ON
TRADE AND ENVIRONMENT WAITING FOR PROGRESS IN OTHER AREAS
The World Trade Organization (WTO)
Committee on Trade and Environment Special Session (CTE-SS) met on 18
July 2007, under a new chair, Ambassador Mario Matus (Chile). Members
continued discussions on the relationship between WTO rules and specific
trade obligations present in multilateral environmental agreements (MEAs),
although no progress was made pending an outcome in the negotiations on
agricultural and industrial market access. Discussions on information
exchange and observer status of MEAs at the WTO (mandated by Paragraph
31(ii) of the Doha Declaration) focused on new language proposed by the
chair, with members discussing whether a list of questions or a list of
criteria should be adopted to determine how to grant observership
status. Informal negotiations will continue, and the next formal CTE-SS
is scheduled to take place on 1 October (Source: ICTSD Bridges).
Link to further information
ICTSD Bridges, 25 July 2007
UNDP-GEF BIODIVERSITY CONSERVATION
PROJECT REPORTS PROGRESS
The UN Development Programme-Global Environment
Facility's (UNDP-GEF) project Biodiversity conservation in coffee,
which seeks to protect coffee farmers and biodiversity in Latin America,
is making strides, according to a project report dated 14 June 2007. The
project focuses on establishing new, environmentally and socially
responsible ways of doing business, and one of the main strategies is to
transform productive practices in the coffee sector by increasing market
demand for certified sustainable coffee. The project works with major
coffee traders, roasters and importers to increase the volumes of
Rainforest Alliance certified (RAC) coffee, one of the most rigorous and
complete sustainability standards in the coffee industry. An early
success has been the announcement that 1,200 McDonald's restaurants in
the UK and Ireland will exclusively sell RAC coffee.
Link to further information
UNDP-GEF Project report
THREE-PHASE APPROACH PROPOSED FOR FFD FOLLOW-UP
At an informal General Assembly consultation of the whole, held at UN
headquarters, New York, US, on 8 June 2007, the Permanent Representatives of Norway and
Egypt to the UN suggested adopting a three-phased approach towards the
Financing for Development (FFD) Follow-up Conference in Doha, Qatar, in
the second half of 2008. The first phase will include the
High-level Dialogue on FFD to be held during the 62nd Session of the
General Assembly (New York, 22-23 October 2007), featuring the
participation of civil society during interactive multi-stakeholder
round-table sessions. The second phase will focus on outstanding
procedural issues related to the review process, with the goal of
concluding with the adoption of a resolution covering these issues. The
third phase will perform substantive preparations and consultations in
accordance with guidance stipulated in GA resolution 61/191, to ensure
that the Follow-up Conference does not alter or re-negotiate the
Monterrey Consensus.
Link
to additional information
The
Road to Doha Newsletter
DEADLINE SET FOR COMPLIANCE WITH WTO BIOTECH
RULING
The EU has agreed with Argentina, Canada and the US on a 21 November
2007 deadline for compliance with the World Trade Organization (WTO) ruling in
the case of the EU approval procedure for genetically modified organisms
(GMOs). The ruling had claimed that the application of EU-wide and
national moratoria on the approval of GMOs at the time the case was
filed was illegal under WTO law. Meanwhile, EU member states continue to
be divided over the approval of new GMOs, while Greece has just extended
its ban on genetically modified maize.
Link
to further information
Bridges Trade BioRes, 6 July 2007
ILLEGAL LOGGING CONTINUES IN INDONESIA – WTO
REPORT
A trade policy review (TPR) conducted by the World Trade
Organization (WTO) stated that a ban on log exports has done little to
stem forest over-exploitation and illegal logging in Indonesia. Illegal
logging is estimated to account for over 50 percent of Indonesian timber
production, despite a ban on the export of logs being reinstated in
2001. The WTO report said that foreign demand for cheap timber appeared
to overwhelm Indonesia's enforcement capacity.
Link to further information
BRIDGES Weekly Trade News Digest, Volume 11, Number 24, 4 July 2007
JUNE 2007
WTO DISCUSSES
PESTICIDE RESIDUE LIMITS AS BARRIERS TO TRADE
During the 27–28 June 2008 meeting of the
World Trade Organization's (WTO) Sanitary and Phytosanitary (SPS)
Measures Committee, which deals with food safety and animal and plant
health and safety, a group of developing countries led by Argentina
expressed concerns about new maximum pesticide residue levels imposed by
several developed nations as creating barriers to trade. They urged the
establishment of common international standards by the joint UN Food and
Agriculture Organization (FAO)-WHO
Codex Alimentarius Commission on food safety. Japan, the EU, New Zealand
and Australia said they would join the discussion when they have had
time to study Argentina's paper.
Link to additional information
WTO SPS Press Release, 29 June 2007
WORKSHOP ON
VOLUNTARY STANDARDS ORGANIZED BY WTO AND UNCTAD
On Monday 25 June 2007, the World Trade
Organization (WTO) and the UN Conference on Trade and Development (UNCTAD) held
a joint workshop on private and commercial standards, such as "EurepGap"
rules, the retailer-driven Global Food Safety Initiative (GFSI) and the
food safety management system standard "ISO 22000" from the
International Organization for Standardization (ISO). These voluntary
standards cover a wide range of issues including food safety and
quality, production methods, fair trade and labor requirements, and
other environmental concerns (such as transportation distances). The
main themes addressed during the workshop relate to the following
aspects of voluntary standards: that standards set by the private sector can
help suppliers improve the quality of their products and gain access to
markets, but this may be offset by the cost of meeting the standards and
obtaining certificates; and that there are concerns regarding the lack of
transparency and/or scientific basis for some of these standards.
Link to additional information
WTO SPS Press Release, 29 June 2007
IMO PROJECT ON
BALLAST WATER RECEIVES FUNDING
The International Maritime Organization
(IMO) has announced the approval by the Global Environment Facility (GEF)
of funding for the second phase of the project entitled "Building
Partnerships to Assist Developing Countries to Reduce the Transfer of
Harmful Aquatic Organisms in Ships' Ballast Water." The project will be
implemented by the IMO, in partnership with the GEF and the UN
Development Programme, and aims to assist particularly vulnerable
countries and regions to enact legal, policy and institutional reforms
in compliance with the objectives of the International Convention for
the Control and Management of Ships' Ballast Water and Sediments of
2004.
Link to further information
IMO Press Release, 21 June 2007
WTO PANEL RULES ON
RETREADED TIRES DISPUTE, BOTH SIDES CLAIM VICTORY
On 12 June 2007, a WTO panel ruled in favor
of the European Community (EC) on a complaint filed in 2005 by the EC
against Brazil, challenging the latter's ban on imports of retreaded
tires. The environmental component of the dispute revolved around
Brazil's argument that its import ban was justified on public health
grounds, under GATT Article XX(b) (measures necessary to protect human,
animal, or plant life or health), as growing piles of waste tires
provide fertile breeding grounds for disease-carrying mosquitoes,
increasing the potential for dengue, yellow fever and malaria, and their
sheer volume is already beyond the country's capacity for
environmentally responsible disposal. The Panel upheld Brazil's
argument, however it ruled that the application of the measure was
discriminatory because, due to several court injunctions, Brazil had
continued to import retreaded tires from other countries. As a
consequence, the EU won the case but Brazil may easily ensure its policy
is "WTO-friendly" by applying it consistently throughout the country.
Initial reactions to the case note that both parties were satisfied with
the outcome, although the option for an appeal will remain open for 60
days until WTO Members adopt the panel's report.
Links to additional information
BRIDGES Weekly Trade News Digest, 20 June 2007
WTO Documentation Centre
IFC PROMOTES
SUSTAINABILITY IN STOCK EXCHANGE TRADING
The International Finance Corporation (IFC) recently helped Brazil's
São Paulo Stock Exchange, the largest stock trading center in Latin
America, to launch a new index of publicly traded companies that have
adopted world-class sustainability standards. The new BOVESPA Corporate
Sustainability Index is part of a trend to integrate sustainability into
lending and investment in emerging markets.
Link to additional information
IFC Press Release, 15 June 2007
IFAD BACKS WATER PROJECTS
TO HELP RURAL POOR IN SYRIA
Under agreements
entered in mid-June 2007, the International Fund for Agricultural
Development (IFAD) has created two new programmes designed
to improve irrigation for needy Ethiopian families and to overcome water
shortages and create jobs in north-eastern Syria. IFAD's North-eastern
Regional Rural Development Project will be financed partly by a
low-interest IFAD loan of US$ 20 million, a loan of US$ 17 million from
the OPEC Fund for International Development and a contribution of US$ 20
million from the Syrian Government. A US$ 57.7 million Ethiopian project
is financed in part by a US$ 20 million grant from IFAD and a separate
US$ 20 million loan from the same agency and will benefit more than
60,000 families.
Link to further information
IFAD Press Release, 14 June 2007
UNEP FI LAUNCHES CLIMATE CHANGE DECLARATION BY
FINANCE SECTOR
The
UN Environment Programme Finance Initiative (UNEP FI) launched its
"Declaration on Climate Change by the Financial Services Sector," signed
by over 20 of UNEP FI member companies, on 5 June 2007. The declaration
states, among other things, that: anthropogenic climate change is real;
the cost of inaction will be extremely high; financial institutions must
take greater action and integrate climate change into their everyday
decision-making; and governments need to set ambitious, long-term
targets for emissions reduction. The statement will remain open for
endorsement in the run-up to the climate change negotiations in Bali,
Indonesia, in December 2007.
Link to further
information
UNEP FI Statement, 5 June 2007
ADB AND UN SECRETARY-GENERAL'S ADVISORY BOARD ON
WATER AND SANITATION AGREE TO COLLABORATE
The UN Secretary-General's Advisory Board on Water and Sanitation is
mandated to promote global action on water and sanitation issues, while
the Asian Development Bank (ADB) is a regional development finance
institution. In a joint statement the two bodies agreed to collaborate
on various activities to increase investments and results in water
supply and sanitation, disaster management, and integrated water
resources management in Asia. This collaboration is expected to help
both institutions reach their objective of achieving the Millennium
Development Goals related to water and sanitation in the region.
Link to
further information
ADB Press Release, 1 June 2007
MAY 2007
GLOBAL COMPACT INTRODUCES BUSINESS LEADERSHIP
PLATFORM ON CLIMATE CHANGE
In a press release on 30 May 2007, the UN Global Compact introduced the
statement "Caring for Climate: The Business Leadership Platform,"
drafted by the UN Environment Programme, WBCSD and Global Compact, which
provides a practical platform for Global Compact participants to advance
climate change solutions and demonstrate leadership. Global Compact
anticipates that a significant number of business leaders will become
signatories of the statement, and expects that the occasion of the
Global Compact Leaders Summit (Geneva, Switzerland, 5-6 July 2007) will
be used to express the urgent need to address climate change.
Links to
further information
UN Global Compact Press release, 30 May 2007
The
Statement
MARINE SCIENTISTS URGE
WTO TO END FISHING SUBSIDIES
A group of 125 international marine
scientists have appealed to WTO Director-General Pascal Lamy, asking him
to push for a slashing of fisheries subsidies. The statement, sponsored
by preeminent fisheries experts Daniel Pauly and Boris Worm and
delivered on 24 May 2007, warns that unless worldwide subsidies are
significantly reduced, global overfishing and other destructive fishing
practices will likely result in the permanent damage of the ocean
ecosystem. WTO Negotiations on fisheries subsidies are considered to
represent an historic opportunity to address environmental concerns
through trade negotiations. "The WTO has a once in a lifetime chance to
demonstrate that it can not only balance trade and the environment, but
make one of the greatest contributions to protecting the world's
oceans," said Andrew Sharpless from the marine conservation group
Oceana.
Links to further information
The
letter to Lamy
ICTSD Bridges Weekly Trade News Digest, 30 May 2007
Oceana press release, 24 May 2007
PREPARATIONS UNDERWAY FOR THE 31st GEF COUNCIL MEETING
The documents for the 31st Global Environment Facility (GEF) Council
meeting, scheduled for 12-15 June 2007, in Washington DC, US, have been
posted online and include a revised project cycle and focal area
strategies, as well as a results-based management framework. The meeting
will be preceded by an NGO consultation on 11 June.
Link to
further information
GEF Council website
QATAR TO HOST FOLLOW-UP
TO UNGA DEBATE ON MDGs
In a letter dated 7 May 2007, UN General
Assembly (UNGA) President Sheikha Haya Rashed Al Khalifa has informed UN
Member States about the meeting entitled "Financing Development to
achieve the MDGs" to take place in Doha, Qatar, from 17-18 June 2007,
which is a follow-up to the thematic debate "Partnerships to achieve the
MDGs," held in November 2006. The meeting will focus on translating
existing commitments into action, reviewing developing country efforts
to implement scaled up Millennium Development Goal (MDG) strategies, and
exploring innovative financing sources, and could serve as an input to
the preparatory process of the 'Follow-up International Conference on
Financing for Development to Review the Implementation of the Monterrey
Consensus,' which will convene in Doha in the second half of 2008.
Links to further information
UNGA President's letter, 7 May 2007
Draft programme
UN INITIATIVE ON RESPONSIBLE INVESTMENT GAINING
MOMENTUM
The Principles of Responsible Investment, an initiative of the UN Global
Compact and the UN Environment Programme Finance Initiative (UNEP FI),
has announced that, on its first anniversary, it has
attained over 180 leading institutional signatories, representing more
than US$ 8 trillion in assets under management. The Principles of
Responsible Investment are voluntary and provide a framework for
analyzing environmental, social and corporate governance (ESG) issues in
the investment process. The newly established PRI Engagement
Clearinghouse is the first global collaborative forum for investors to
work together and share knowledge to take action on ESG issues.
Link to further information
Principles of Responsible Investment Press release, 29 April 2007
APRIL 2007
US TRADE PANEL INVESTIGATES ILLEGAL
LOGGING COMPLAINTS
The US International Trade Commission is investigating logging practices
by China and other countries, after timber-producing states complained
that as much as 30 percent of US hardwood imports are from suspicious or
illegal sources. Industry groups say that illegally-harvested timber
from some Latin American countries is sent to China for low-cost
processing and then exported to the US and other countries.
Link to further information
International Herald Tribune news report, 18 April 2007
AFRICAN DEVELOPMENT BANK ANNOUNCES NEW SCIENCE
AND TECHNOLOGY STRATEGY
The African Development Bank held a stakeholder workshop from 12-13
April 2007, in Accra, Ghana, that ended with the adoption of a
development strategy for higher education, science and technology. The
strategy aims to establish public-private partnerships, as well as
private sector investments for programmes to develop technological
skills, strengthen science and technology infrastructure and bring about
institutional and policy reforms.
Link to further information
Sci-Dev Net news release, 16 April 2007
PRIVATE PARTNERSHIP TO SAVE MAJOR RIVERS
IBM and The Nature Conservancy announced on 24 April 2007, a new
partnership to conserve some of the world's great rivers through
information technology and science-driven conservation. The Nature
Conservancy's Great Rivers Partnership and IBM's Big Green Innovations
project will create a computer modeling framework that will allow users
to simulate the behavior of river basins around the world, helping
inform policy and management decisions. The project will start with the
Paraguay-Paraná river system in Brazil, and then move to China's Yangtze
River and the Mississippi River in the United States. Among the data
collected will be information on water flow, erosion rates, potential
pollution and nutrient overflow from farming, as well as the historical
climate and rainfall of the region.
Links to further information
The
Nature Conservancy Press Release, 24 April 2007
IBM Press Release, 24 April 2007
MARCH 2007
US
PROPOSES CUTS IN FISHERIES SUBSIDIES
The US has sent a proposal
to the World Trade Organization (WTO) to cut national fisheries
subsidies, which it says contribute to overfishing. The proposal calls
for a broad ban on subsidies to fisheries that capture wild ocean stock
and that contribute to the overcapacity of the world's fishing fleets
and the depletion of marine life globally. It would cover subsidies
related to the construction and upkeep of fishing vessels and costs
associated with allowing vessels to fish longer than would be
economically possible without the subsidies. Under the proposal,
activities such as capturing young fish to be raised in pens or farms or
harvesting unpenned ocean fish to use as feed would be prohibited.
Global subsidy levels are estimated at USD$34 billion annually. After
receiving comments on its proposal, the US will submit it to the next
session of the Negotiating Group on Rules, tentatively scheduled for 30
April 2007.
Link to further information
ICTSD reporting, 28 March 2007
WTO PANEL'S
CONFIDENTIAL REPORT REJECTS ENVIRONMENTAL IMPORT RESTRICTIONS ON USED
TIRES
A confidential interim report by a WTO
panel on the dispute between Brazil and the EU over the former's
restrictions to the import of retreaded tires (old tires that are
reprocessed for a second and final use), was reported to have been
circulated to the two parties on 12 March 2007. The panel is said to
have concluded that Brazil's restrictions were contrary to WTO rules,
because it allowed imports of the same product from its MERCOSUR trade
bloc partners. In response to the report, Brazilian Environment Minister
Marina Silva noted that there was a substantial difference in
environmental terms between disposing of 100 thousand tires from Uruguay
and doing the same for 80 million tires from the EU. In addition,
several environmental NGOs have defended Brazil's right to restrict such
imports under GATT Article XX, due to the potential for waste
generation. The decision is not yet final; once the panel's report is
officially disclosed and approved, the dispute settlement procedure will
allow recourse to its Appellate Body.
Link to further information
ICTSD Trade Bio Res, 16 March 2007
3 MILLION EURO AVAILABLE FOR CLEAN ENERGY PROJECTS
The Renewable Energy and Energy Efficiency
Partnership (REEEP), which was established at the Johannesburg World
Summit on Sustainable Development in 2002 and includes over 200 partners
including 35 governments, has announced a call for tenders for renewable
energy and energy efficiency projects in developing countries and
emerging market economies. The Partnership also seeks bidders for the
production of a REEEP Report on Energy Efficiency and to commission work
around risk reduction investment in renewable and energy efficiency.
Link to
further information
REEEP Press Release, 1 March 2007
GLOBAL COMPACT AND SAN
FRANCISCO LAUNCH CLIMATE PARTNERSHIP
The UN Global Compact, the City of San
Francisco and a number of Bay Area businesses launched on 1 March 2007
the Principles on Climate Leadership
and Business Council on Climate Change (BC3) initiatives. The new
partnerships will involve voluntary actions to address climate change.
The initiative will give Bay Area businesses a forum in which to
share best practices to reduce greenhouse gases, and it will also seek
to create a model for climate action in the commercial and public
sectors that the Global Compact will aim to place in companies and
cities around the world.
Link to further information
UN Global Compact press release, 1 March 2007
INTERNATIONAL
BIOFUELS FORUM LAUNCHED AT UN
The International Biofuels Forum, a joint
project of Brazil, China, India, South Africa, the United States and the
European Commission, was launched at UN Headquarters in New York, US, on
2 March 2007. The forum will seek to expand the world market for
alternative fuels and to structure the dialogue among the biggest
producers and consumers of biofuels to establish common norms and
standards, and work towards the commoditization of biofuels. A further
objective is to identify ways to encourage investment in countries with
the potential to develop alternative fuels. The International Biofuels
Forum will meet regularly for one year and plans to convene an
international biofuel conference in Brazil in 2008.
Links to further information
UN News Release, 2 March 2007
Wired News press release, 3 March 2007
US UTILITY BUYOUT SHOWS
GREEN TREND
A planned buyout of US energy utility TXU by private equity groups has
been hailed by some in the environmental movement as a sign that the
finance sector is increasingly taking climate change and sustainable
development seriously. The groups involved in the buyout have indicated
that they will not proceed with a number of coal-fired power plants that
TXU had planned to construct in Texas. Instead, the new owners are set
to invest more in energy efficiency, renewable energy, and clean coal
technology. Environmental groups have expressed hope that this will hail
a "new era" in greener investment.
Links to further information
Newsweek, 12 March 2007
Greenwire/WBCSD news, 27 February 2007
CERES news release, 26 February 2007
FEBRUARY 2007
ADB AND UN HABITAT WILL
INCREASE WATER INVESTMENTS FOR ASIA'S URBAN POOR
The Asian Development Bank (ADB) and
UN-HABITAT have decided to continue their partnership and committed to
double investments in safe drinking water and sanitation facilities for
some of Asia's poorest urban areas. The partnership started in 2003 and
carries the Water in Asian Cities Program, which will extend to 2011
with each organization committing $10 million in grant funds. The
partnership was established to improve water supply and sanitation
services to the urban poor in Asia, build the capacity of Asian cities
to secure and manage investments, and to help the region meet the
Millennium Development Goal of halving by 2015 the proportion of people
without sustainable access to safe drinking water and improved
sanitation.
Link to further information
ADB Press release, 13 February 2007
WTO DISCUSSES RELATIONSHIP TO MEAS
World Trade Organization (WTO) Member States met on 23 January 2007
to discuss the relationship between the secretariats of multilateral
environmental agreements (MEAs) and the WTO, following Paragraph 31(ii)
of the Doha Declaration. The Secretariat presented a paper addressing,
inter alia: cooperation and information exchange experiences
between MEAs and the WTO, such as information sessions in the WTO
Committee on Trade and Environment and WTO side events in MEAs; and
technical cooperation activities such as WTO trade and environment
regional seminars and the UNEP-UNCTAD Capacity Building Task Force. No
progress was reported on the issue of MEA observer status in the WTO,
although some indicate that a resolution is more likely than in the
other two key issues: the status of MEA trade measures within the WTO,
and tariffs for environmental goods and services.
Links
to further information
ICTSD Bridges, 31 January 2007
WTO Document TN/TE/S/2/Rev.2, 16 January 2007
JANUARY 2007
DESPITE GLOBAL ECONOMIC SLOWDOWN, DEVELOPING
COUNTRIES EXPECTED TO GROW IN 2007 – UN REPORT
Jose Antonio
Ocampo, UN Under-Secretary General for Economic and Social Affairs, has
highlighted a new UN report's finding that developing countries will
continue to grow despite a slow down in the world economy's growth. He
said the global economic slowdown should not jeopardize the attainment
of the Millennium Development Goals during the 10 January 2007 launch of
the World Economic Situation and Prospects 2007. He added that
the Report emphasizes that, after three consecutive years of high
economic growth, the global economy is expected to unwind due to the
cooling of the housing market in the US. The slow economic growth in the
US, projected to be 2.2 percent in 2007, followed by the protracted
economic recovery of Japan and Europe, will moderate consumer demand.
Nevertheless, the report points out that East Asian economies will
continue to lead economic growth, particularly the Chinese economy. The
report indicates that coordination of economic policies could build
greater confidence in the stability of financial and foreign-exchange
markets and help avoid negative growth effects.
Links to further
information
UN News Centre, 10 January 2007
World Economic Situation and Prospects 2007
UNDESA Press release, 11 January 2007
Launching of the Report –
webcast
WORLD BANK SEEKS
FEEDBACK ON GOVERNANCE AND ANTI-CORRUPTION
The World Bank Group is seeking written feedback on strengthening
the Bank's governance and anticorruption work as an integral part of its
work to reduce poverty and promote growth. A new approach, set out in
the paper "Strengthening Bank Group Engagement on Governance and
Anticorruption," will be presented to the Development Committee for
approval later this semester. Written feedback is being accepted in
English, French, Spanish, Arabic or Russian, and the deadline for
submissions is 26 January 2007.
Links to further information
Invitation to Comment
Strengthening Bank Group Engagement on Governance and Anticorruption
IDB's MULTILATERAL
INVESTMENT FUND FINANCES CLEAN ENERGY MARKETS
The Inter-American Development Bank's Multilateral Investment Fund
has created a new cluster of activities focused on promoting clean
energy markets to help small enterprises gain access to these markets
while improving their competitiveness. It will promote new financial
instruments and assist in the creation of capacities required by smaller
firms to serve these markets. The new cluster has already approved two
projects to support market opportunities for clean energy: a US$975,000
grant to Fundación Chile and a US$600,000 grant to the Ecologica
Institute to work in rural areas of Tocantins, Brazil.
Link to further information
IDB Press Release, 18 January 2007
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