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.
Citigroup's new five-year sustainability strategy could help shift global capital towards low-carbon development.
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.
A presentation on access to information policies at development banks by WRI's Sustainable Finance Team.
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.
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.
After two weeks of difficult negotiations and a nail-biting finale, delegates in Lima laid the groundwork for a successful international climate agreement in Paris next year.
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.
Leaders at COP20 can explore a range of sources for financing low-carbon urban development including multilateral investment banks, private investors, and innovative initiatives like the Nationally Appropriate Mitigation Actions or climate-themed bonds.
Today, at the international climate conference in Lima, Peru (COP20), the government of Belgium pledged to contribute more than 50 million Euros (around $62 million US) to the Green Climate Fund, edging the fund past its $10 billion goal for 2014. This is an important marker in making the Green Climate Fund operational.
Following is a statement by Athena Ballesteros, Finance Director, World Resources Institute: