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 report's
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
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