Stabilizing the global climate is one of the most urgent challenges in coming decades. Our warming world affects all people and ecosystems, particularly the poor who already suffer disproportionately from climate-change impacts.
Governments will meet Wednesday in Stockholm to decide how to replenish the Global Environment Facility (GEF), a fund that helps developing nations meet international environmental agreements. GEF grants finance everything from toxic chemical clean-up to biodiversity protection to anti-wildlife trafficking efforts.
Because better information about climate finance offers big benefits, Colombia worked with WRI and its partners on a new system to measure, report and verify how much funding goes toward climate change projects. Launched November 27, the system has registered $6 billion worth of climate change actions.
Multilateral development banks are key pistons in the climate finance engine, providing significant international financing for climate adaptation and mitigation and mobilizing private sector capital. Our analysis of the latest snapshot of MDB climate finance for 2016 offers cause for celebration – and concern.
WRI researchers analyzed energy supply investments from the World Bank, International Finance Corporation and Asian Development Bank. While only 3 percent of this financing is misaligned with the goal of limiting temperature rise to 2⁰C, about half fell into a “conditional” category; its alignment with a low-carbon future depends on how projects are designed.
President Trump's 2018 budget request for fiscal 2018 makes clear that international climate finance is in the crosshairs, undermining U.S. economic, diplomatic and security interests around the world.
The most recent communique from the G20 drops all references to climate change, a move reportedly instigated by the United States, Saudi Arabia and others. The omission is a setback, as climate finance benefits U.S. jobs and exports and is key to meeting global climate targets.
Over the past 25 years, dozens of national, regional and international climate funds have emerged, creating a confusing system. New WRI research offers recommendations to more effectively attract and disburse climate finance.
The United States spent $2.6 billion in 2015 to support climate action in developing nations. This finance represents just 0.07 percent of the federal budget, but boosts U.S. business, promotes development and improves national security.
Last week, the Board of the Green Climate Fund (GCF) convened in Songdo for its penultimate meeting in 2016. As the biggest multilateral climate fund to date, the GCF has a vital role to play in delivering on the goals of the Paris Agreement. While the GCF has made some progress in the last year—including approving its first projects, adopting a strategic plan, strengthening its...