You are here

Blog Posts: Green Climate Fund

  • 4 Ways the Green Climate Fund Can Make Its Investments Count

    The Green Climate Fund (GCF) has big ambitions: It aspires to become the main global fund for providing climate change finance, contributing to activities like the design of resilient cities and the expansion of low-emission power generation.

    While the GCF Board should be ambitious and innovative, they can also look to what’s been done before. Drawing knowledge from the experiences of other critical climate and development funds is one way to ensure that the GCF succeeds.

    Share

  • 2 Messages for the Green Climate Fund on Supporting “Readiness”

    Readiness is a hot topic for the newly established Green Climate Fund (GCF), as it heads towards its 6th Board meeting in Bali, Indonesia next week. At the meeting, the Board is expected to make a decision on what the GCF’s readiness program will look like. It will likely be narrow in focus, which makes sense based on its limited funding and timeframe. Yet as the GCF moves forward, it is important to remember countries’ broader readiness needs and to be flexible in finding the right institutions to channel funds in the short term.

    Share

  • High Hopes for the Green Climate Fund: 5 Messages on Private Sector Engagement

    Climate change mitigation and adaptation investment needs are urgent, significant, and growing. The world will need to devote trillions of dollars into clean energy, sustainable transport, and other green infrastructure to limit global temperature rise to 2 degrees C and prevent the worsening effects of climate change. Private sector investment will be critical to achieving the type of low-carbon, climate-resilient growth necessary to secure a sustainable future.

    Share

  • 2 Big Issues to Tackle as the Green Climate Fund Sets Up Shop

    The world will need to spend an estimated US$5.7 trillion annually in green infrastructure by 2020 in order to limit global temperature rise to 2 degrees C. This week, it took a step toward creating an institution – the Green Climate Fund – that will be pivotal in achieving this goal.

    Share

  • The Green Climate Fund: From Inception to Launch

    A year after its inaugural meeting, the Board of the Green Climate Fund (GCF) left its fifth meeting in Paris earlier this month with a collective sense of urgency. The GCF is expected to become the main vehicle for disbursing climate finance to developing nations, so the decisions made at this most recent meeting significantly impact the future of climate change mitigation and adaptation. Encouragingly, Board members stepped up to the important task before them, making progress across several key issues. Their decisions made it clear: The GCF’s inception phase (referred to officially as "the interim period") is over—the focus now is on funding it and launching its operations.

    Share

  • 5 Areas for Action to Set the Green Climate Fund on an Ambitious Path

    Expectations are running high as the Board of the Green Climate Fund prepares for its fifth meeting in Paris this week. The GCF must make progress towards five key issues at next week’s meeting in Paris.

    Share

  • Strengthening Ownership and Effectiveness of Climate Finance

    The Climate Investment Funds (CIFs), one of the world’s largest dedicated funding facilities for climate change mitigation/adaptation projects, have now been in operation for five years. It’s a good time to step back and evaluate what lessons we’re learning from these important sources of climate finance.

    WRI recently did just that, inviting a group of representatives from countries accessing CIFs funding to speak at our offices. It became clear from the discussions that while some valuable progress has been made, there is still plenty of room for improvement. In particular, lending institutions involved with the CIFs could deploy climate finance more effectively by fostering a stronger sense of country ownership over mitigation/adaptation projects.

    The Good News: Climate Investment Funds Are Contributing to Change on the Ground

    We’re starting to see some countries make progress on implementing climate change mitigation and adaptation projects with funds from CIFs programs (see text box). Panelists at the WRI event highlighted a few examples:

    Share

  • 4 Ways the Green Climate Fund Can Support "Readiness" for Climate Finance

    Research shows that developing countries will need about $531 billion of additional investments in clean energy technologies each year in order to limit global temperature rise to 2° C above pre-industrial levels, thus preventing climate change’s worst impacts. While developed countries have pledged to provide $100 billion of climate finance per year, this amount is well below what’s needed to help developing nations mitigate and adapt to climate change.

    So how can countries bridge this funding gap? The answer lies in part on how well developing countries implement “readiness” activities, as well how effectively developed nations and international institutions like the Green Climate Fund (GCF) can mobilize finance to support them.

    The Need for Readiness

    To attract investments on the scale required, developing country governments must provide an attractive investment climate—one that encourages public and private sector investors to put their money into climate-friendly projects like solar and wind energy. On their end, developed countries need to offer financial and technical support for “readiness” activities that create the right conditions for said investments. Readiness includes any activity that makes a country better positioned to attract investments in climate-friendly projects or technologies. A few examples include: developing a policy to promote energy efficiency in industry; passing a law that gives a new or existing institution the mandate to promote renewable energy; conducting an assessment of a country’s wind energy resources; or strengthening a bank’s capacity to lend to small businesses in low-carbon sectors. International institutions such as the GCF can play a big role in supporting readiness activities, thereby helping developing nations attract the investments that will help them transition onto a low-carbon, climate-resilient development path.

    Share

  • Reflections on COP 18 in Doha: Negotiators Made Only Incremental Progress

    This piece was written with analysis from Athena Ballesteros, Edward Cameron, Yamide Dagnet, Florence Daviet, Aarjan Dixit, Heather McGray, and Clifford Polycarp.

    Expectations were low for this year’s UNFCCC climate negotiations in Doha, Qatar (COP 18), which concluded last week. It was scheduled to be a “finalize-the-rules” type of COP, rather than one focused on large, political deals that went into the early hours of the morning. Key issues on the table included finalizing the rules for the Kyoto Protocol’s second commitment period; concluding a series of decisions on transparency, finance, adaptation, and forests (REDD+); and agreeing on a work plan to negotiate a new legally binding international climate agreement by 2015. The emissions gap was also front-and-center, as the new UNEP Gap Report showed that countries are further away than even a year ago from the goal of keeping global average temperature rise below two degrees C.

    In the end, countries were successful in making progress, but only incrementally. The lack of political will was breathtaking, particularly in light of recent extreme weather events.

    Here’s a look at what happened across nine key issues that were on the table:

    Share

  • What’s the Future of the Climate Investment Funds?

    The committees governing the $7 billion Climate Investment Funds (CIFs) – the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF) – will meet in Istanbul this week. Alongside these meetings, a range of stakeholders from civil society, indigenous groups, and the private sector will participate in a series of events organized as part of the annual Partnership Forum, which takes place from November 4-7, 2012.

    Decisions made at these meetings are critically important for the funding of climate mitigation and adaptation activities in developing nations. They’ll have important implications for meeting the immediate investment needs of developing countries, as well as for long-term global climate finance. The meetings will mark the start of discussions on how to sunset the CIFs and transition to a new global climate finance mechanism—the Green Climate Fund.

    Share

Stay Connected

Sign up for our newsletters

Get the latest commentary, upcoming events, publications, maps and data. Sign up for the biweekly WRI Digest .