This Inside the Institutions looks at the role of the World Bank in carbon finance initiatives
Notes from a meeting at the IMF/World Bank 2017 spring meetings on MDB actions on climate change and forests.
GCF’s permanent trustee will chosen through open bidding process with final decision expected to be taken in October
Lack of progress on Loss & Damage finance at global climate talks means climate insurance remains default option to mitigate losses from climate change.
A revised Clean Technology Fund (CTF) pipeline management and cancellation policy has been approved. A document outlining further details on the proposed “CTF 2.0” will be discussed. Approval for reallocation of funds for a Morocco project was challenged by Germany and the decision postponed.
Pipeline management and cancellation policies are in preparation for the Pilot Program for Climate Resilience (PPCR) to address funding constraints, with no funding available for new pilot countries’ projects. Questions were raised about gender impacts for a renewable energy project in Mozambique.
Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.
A new a new Enhanced Private Sector Program for the Scaling up Renewable Energy Program in Low Income Countries (SREP) is due to discussed. Cambodia’s investment plan has been approved. Social, environmental and financial risks related to a Nicaragua geothermal project were raised.
New edition of the Bretton Woods Project's biannual Climate Investment Funds (CIFs) Monitor, including an update on the Green Climate Fund, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
Notes from a side event at the IMF/World Bank 2016 annual meetings discussing lessons learned from the World Bank Group’s experiences with high risk projects, safeguards, gender equality, Indigenous Peoples, and environmental and social management systems, and how these should be applied to the Green Climate Fund.