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President Obama’s Climate Action Plan: Can it Shift the World Away from Coal?

While reactions to President Obama’s newly announced climate plan have focused on domestic action, the plan actually has potentially significant repercussions for the rest of the world. These repercussions will come in part through his commitment to limit U.S. investments in new coal-fired power plants overseas. If fully implemented, the plan will help ensure that the U.S. government channels its international investments away from fossil fuels and toward clean energy. The move sends a powerful signal—and hopefully, will inspire similar action by other global lenders.

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Reducing the vulnerability of local communities exposed to climate change by increasing the volume and effectiveness of finance directed towards adaptation.

How Are China’s Overseas Investments Affecting the Environment?

Chinese overseas investments are rapidly increasing. As of 2011, China’s outward foreign direct investments (OFDI) spread across 132 countries and regions and topped USD 60 billion annually, ranking ninth globally according to U.N. Conference on Trade and Development statistics. A significant amount of this increasing OFDI goes to the energy and resources sectors—much of it in Asia, Africa, and Latin America.

But there are two sides to China’s OFDI coin. On the one side, these investments can benefit China and recipient countries, generating revenue and improving quality of life. However, like any country’s overseas investments, without the right policies and safeguards in place, these investments can fund projects that harm the environment and local communities.

WRI‘s new issue brief surveys the progress and challenges China faces in regulating the environmental and social impacts of its overseas investments. I sat down with WRI senior associate and China expert, Hu Tao, to talk about China’s overseas investment landscape. Before joining WRI, Tao worked as a senior environmental economist with China’s Ministry of Environmental Protection (MEP). Here’s what he had to say:

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Mobilizing Climate Investment

The Role of International Climate Finance in Creating Readiness for Scaled-Up, Low-Carbon Energy

Limiting global temperature rise to 2°C above pre-industrial levels will require billions of dollars in investments each year to mitigate greenhouse gas emissions and shift to low-emissions development pathways. This report draws on the experiences of six developing countries to examine how...

Communicating the "Financeability" of Energy Efficiency Projects (EEPs)

Guide to Data Needs for Financing EEPs in China

This guide will help companies be better prepared as they seek to secure attractive external financing for energy efficiency improvements at their facilities in China. The guide can be used by industry, energy services companies, and financiers to achieve a smoother financing process and prompt...

Where Is Climate Adaptation Funding Going? A New Project Aims to Find Out

Experts say that developing nations could require more than $100 billion for adaptation each year. Developed countries say that they have already delivered more than $33 billion so far towards this climate adaptation funding.

However, some question whether these funds are going to the right places and meeting real needs. Is adaptation finance being directed towards the nations that need it the most? Is it being used to support projects that will allow people to adapt to climate change’s impacts?

We currently don’t have adequate answers to these questions—but we hope to soon. At the recent UN climate change negotiations in Doha, Qatar, Oxfam, the Overseas Development Institute (ODI), and WRI launched the Adaptation Finance Accountability Initiative to help civil society organizations find out where adaptation finance is really going.

The Question Is: Where Should Adaptation Finance Go?

The easy answer is that adaptation finance should go to activities that strengthen the resilience and reduce the vulnerability of countries most susceptible to climate change’s impacts. People in developing countries will likely be hit hardest by global warming.

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A Closer Look at the Evolution of Brazil’s Overseas Investments

From 2001 to 2011, Brazil’s per capita GDP more than tripled. At the heart of this domestic economic boom is the Brazilian Development Bank (BNDES).

BNDES is Brazil’s key financial institution for domestic long-term financing, and it’s one of the main financial engines behind Brazil’s take-off as a leading Latin American economy. Its lending and equity investments are becoming increasingly important internationally.

But what’s driving all of this growth? And what standards exist to ensure that Brazil’s overseas investments aren’t coming at the expense of the environment and human well-being? WRI seeks to address these questions and more in its new slide deck, “Emerging Actors in Development Finance: A closer look at Brazil’s Growth, Influence and the Role of BNDES.”

 

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