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.
At the 2015 international climate summit in Paris, Parties to the UN Framework Convention on Climate Change (UNFCCC) agreed to design and adopt the rules and procedures that will guide countries in meeting their obligations under the Paris Agreement on climate change. As the past two years have shown, negotiating fair and robust implementation guidelines remains a difficult task, as countries navigate complex technical options and vastly different political interests.
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.
French President Emmanuel Macron's planned summit in December, two years after the Paris Agreement, aims to foster more climate action, notably on the financial front. Here's what the summit can deliver to boost the global climate finance system.
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.
Bonn climate negotiations got underway, President Trump delayed his decision on whether the United States would stay in the Paris Agreement and the Arctic Council recognized climate change as an urgent threat.