The new Asian Infrastructure Investment Bank has committed to being "lean, clean and green." Will its new Environmental and Social Framework achieve that goal? Researchers Gaia Larsen and Sean Gilbert investigate.
multilateral development banks
A new report lays out clear recommendations for how the Chinese government can put the right policies in place to shift investments from polluting to sustainable industries.
The China-led Asian Infrastructure Investment Bank and other new multilaterals are becoming an important part of the development finance landscape. How they answer these five questions will have far-reaching implications.
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.
Ownership and Accountability in Social and Environmental Safeguards
Global growth has not come without costs: Pollution, natural resource depletion, climate change, and the disruption of ecosystem services are now felt around the world.
This report aims at helping investors in developing countries develop effective social and environmental safeguard...
One of the biggest successes from 2009’s COP 15 conference was securing funding for climate change adaptation and mitigation in developing countries. Donor nations agreed to “provide new and additional resources […] approaching $30 billion for the period 2010–2012, with balanced allocation between adaptation and mitigation.” They also committed to mobilize $100 billion a year by 2020.
But the agreement left a key question unresolved: how should funding be “balanced” between adaptation and mitigation? Should the funding balance be 50/50 between adaptation and mitigation or should it based on each country’s needs? Should funding include both private and public sector investment? These are some of the questions that negotiators will need to address during COP 19 in Warsaw.
But whatever they decide as being a “balanced commitment,” one thing is clear: finance for adaptation needs to increase in the coming years.
U.S. public financing for overseas coal-fired power is likely coming to an end.
That’s the clear signal from the U.S. Department of Treasury’s announcement earlier this week. At institutions like the World Bank, where the United States is the largest shareholder, this decision holds real significance.
On July 16, 2013 the World Bank agreed to support universal access to reliable modern energy and limit the financing of coal-fired power plants to rare circumstances in an effort to address climate change concerns.
Few countries are unaffected by China’s overseas investments. The country’s outward foreign direct investments (OFDI) have grownfrom $29 billion in 2002 to more than $424 billion in 2011. While these investments can bring economic opportunities to recipient countries, they also have the potential to create negative economic, social, and environmental impacts and spur tension with local communities.
To address these risks, China’s Ministry of Commerce (MOFCOM) and Ministry of Environment (MEP)—with support from several think tanks—recently issued Guidelines on Environmental Protection and Cooperation. These Guidelines are the first-ever to establish criteria for Chinese companies’ behaviors when doing business overseas—including their environmental impact. But what exactly do the Guidelines cover, and how effective will they be? Here, we’ll answer these questions and more.