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MEXICO CITY (March 17, 2015)— Today, Mexico City’s Head of Government Miguel Ángel Mancera announced a new partnership with World Resources Institute, World Bank, CAF, and Inter-American Development Bank to invest $150 million in expanding and modernizing sustainable transport systems. The announcement comes after a 60 day period of discussions on the future of Mexico City’s sustainable transport solutions kicked-off on the margins of WRI’s event Transforming Transportation 2015.

WASHINGTON (March 17, 2015)— The World Resources Institute announced today that Paul Bodnar will join the organization as a senior advisor for WRI's Sustainable Finance Center. Bodnar will help lead the Finance Center’s work on climate finance technical analysis, strategy and policy. Most recently, Bodnar served at the White House as director for Climate Change and Environment at the National Security Council.

Today, President Obama released his 2016 Budget Request outlining the administration’s spending plans for the coming fiscal year. The request includes $500 million in funding for the Green Climate Fund, and $230 million for the Climate Investment Funds. The budget allocation to the Green Climate Fund is part of the $3 billion pledge the U.S. made in November 2014, while $230 million requested for the Climate Investment Funds would complete a commitment made under the Bush Administration in 2008.

Despite difficult negotiations in Lima, discussions signaled the positive outlook among development banks for expanding climate finance in Latin America and the Caribbean.

With increasing low-carbon investments, pledges to the Green Climate Fund, and ambitious renewable energy and efficiency targets demonstrate robust political and financial commitments, building momentum for a strong global response to climate change.

Going in the Right Direction?

Tracking Adaptation Finance at the Subnational Level

This working paper explores local finance structures in Nepal, the Philippines, Uganda and Zambia.

It highlights challenges and good practices in channeling funding to communities that are vulnerable to climate change.

The International Development Finance Club (IDFC)—a group of international, national, and regional development banks based in the developed and the developing world—released its annual report on green investment (i.e. mitigation, adaptation and ‘other’ environmental finance which includes environmental protection and remediation related projects)—as the world’s climate negotiators were meeting in Lima, and its numbers are significant.

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