In advance of the 2014 World Bank/IMF Spring Meetings, the World Resources Institute analyzed the extent to which economic, social, and environmental sustainability are embedded in the design of World Bank projects.
This working paper reports on a series of three regional workshops in which participants from governments in Latin America, Africa and Asia reflected on the main technical, policy, and capacity challenges to monitoring climate finance, and exchanged experiences on efforts that are under way in th
In a first step to quantify global public and private investment in transport across all modes, WRI estimated annual capital expenditures (excluding consumer spending) at between US$1.4 trillion and US$2.1 trillion annually.
New analysis quantifies the total annual transport capital investment around the world. The Trillion Dollar Question: Tracking Public and Private Investment in Transport working paper finds that the global transport investment is between US$1.4 and US$2.1 trillion each year, enough to fund the capital budget of New York’s subway 88 times.
This finding and others have significant implications—both for the cities of today and for investing in the future cities we want.
In 2010, parties to the United Nations Framework Convention on Climate Change established the Green Climate Fund (GCF) with the hope that it would become the primary global fund for climate change finance in developing countries.
Two and a half millennia ago, Plato announced that “Human behavior flows from three things: desire, emotion, and knowledge.” Unfortunately, our human and corporate behavior on climate change is not even close to where it needs to be. But if the great philosopher was right (and he usually was), 2013 may have been a game changer.
The big news from 2013 came from gains in knowledge. New tools and research are opening our understanding much wider than before. But will we act on this? Knowledge can spur action, but this path is not guaranteed.
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.
Developing countries are calling for greater ownership of climate finance and a greater voice in climate finance decisions. Decades of evidence with official development assistance shows that when support is aligned with country development plans and priorities—and funding
A year after its inaugural meeting, the Board of the Green Climate Fund (GCF) left its fifth meeting in Paris earlier this month with a collective sense of urgency. The GCF is expected to become the main vehicle for disbursing climate finance to developing nations, so the decisions made at this most recent meeting significantly impact the future of climate change mitigation and adaptation. Encouragingly, Board members stepped up to the important task before them, making progress across several key issues. Their decisions made it clear: The GCF’s inception phase (referred to officially as "the interim period") is over—the focus now is on funding it and launching its operations.
Expectations are running high as the Board of the Green Climate Fund prepares for its fifth meeting in Paris this week. The GCF must make progress towards five key issues at next week’s meeting in Paris.
While working on tracking adaptation finance for our Adaptation Finance Accountability Initiative project, we often get the question “What is adaptation finance?” or “What counts as adaptation finance?” To our embarrassment, we still don’t have a clear answer to either question, other than “Well… finance that funds efforts to adapt to the impacts of climate change qualifies as adaptation finance.”
We aren’t the only ones who struggle to define the very issue on which we work. Even some of the definitions that the Organisation for Economic Cooperation and Development (OECD) and multilateral development banks are developing do not provide a complete answer to the question of what types of investment are considered to be adaptation finance.
We decided to do some soul-searching on this subject. While it’s still too complicated to provide a cut-and-dry definition of adaptation finance, we identified three common traits surrounding the issue: Adaptation finance is context-specific, dynamic, and not just about finance.
As global mean temperatures rise, governments and public financial institutions are seeking ways to mobilize the several hundred billion dollars of finance required to limit the growth of greenhouse gas emissions in developing countries and develop climate-resilient economies.
Developed country governments have repeatedly commit¬ted to provide new and additional finance to help developing countries transition to low-carbon and climate-resilient growth.
Bringing together some of the world’s foremost economic experts to contribute to the global debate about climate change and economic policy, and to inform government, business and investment decisions.
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.
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.
Advancing effective, equitable adaptation finance systems to build resilience in a changing climate
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.