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Pricing carbon: No longer a question of if, but how for growing number of leaders

Rachel Kyte's picture
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Carbon pricing was the center of discussion as Carbon Expo got underway in Barcelona on May 26. World Bank Group Vice President and Special Envoy for Climate Change Rachel Kyte was asked by RTCC about the changing views toward carbon pricing as a policy tool in the fight against climate change and how business leaders responded to carbon pricing during Climate Week Paris the previous week.

A Food System that can feed everyone, everyday, everywhere

Juergen Voegele's picture



Whether you’re a food producer or consumer, and no matter what part of the world you live in, I’m sure we can agree: The world needs a food system that can feed everyone, everyday, everywhere.

A food system that works for everyone can also create jobs and raise the incomes of smallholder farmers and rural residents who are 78 percent of the world’s poor people. After all, growth originating in agriculture is proven to be 2 to 4 times more effective at reducing poverty than growth originating in other sectors. An effective food system can also provide better nutrition, steward the world’s natural resources, and even be a part of the solution to climate change.
 

If you want to go far, go together

Jana Malinska's picture

A new global network of Climate Innovation Centers will support the most innovative private-sector solutions for climate change.
 
Pop quiz: What does an organic leather wallet have in common with a cookstove for making flatbread and a pile of recycled concrete?
 
Believe it or not, each of these represents something revolutionary: a private sector-driven approach to climate change. Each of these products – yes, even concrete – is produced by an innovative clean-tech company. And as of March 26th, those businesses, and hundreds more like them, have something else in common. They’re connected through infoDev's newly established global network of Climate Innovation Centers (CICs), an innovative project that is taking the idea of green innovation beyond borders.
 
Having piloted the CIC model in seven different countries – Kenya, South Africa, the Caribbean, Ethiopia, Morocco, Ghana and Vietnam – it was time for infoDev, a global entrepreneurship program in the World Bank Group’s Trade and Competitiveness Global Practice, to follow a time-honored business practice: to scale up and take this movement global.

And so, as part of last month’s South Africa Climate Innovation Conference, we joined forces with 14 experts from the seven different countries where the CICs operate to establish the foundations of the world’s first global network devoted to supporting green growth and clean-tech innovation.



CIC staff debate and discuss the new CIC Network during the South Africa Climate Innovation Conference.

This global network of Climate Innovation Centers – business incubators for small and medium-sized enterprises (SMEs) – has been designed to help local ventures take full advantage of the fast-growing clean-technology market. The infoDev study “Building Competitive Green Industries” estimates that over the next decade $6.4 trillion will be invested in clean technologies in developing countries. An even more promising fact is that, out of this amount, about $1.6 trillion represents future business opportunities for SMEs, which are important drivers of job creation and competitiveness in the clean-tech space.

By the numbers: Tracking finance for low-carbon & climate-resilient development

Barbara Buchner's picture
CPI's Landscape of Climate finance Flows Chart


Barbara Buchner is senior director at the Climate Policy Initiative and lead author of the Global Landscape of Climate Finance reports.

In December 2015, countries will gather in Paris to finalize a new global agreement to tackle climate change. Decisions about how to unlock finance in support of developing countries’ low-carbon and climate-resilient development will be a central part of the talks, and understanding where the world stands in relation to these goals is a more urgent task than ever.

Climate Policy Initiative’s Global Landscape of Climate Finance 2014 offers a view of where and how climate finance is flowing, drawing together the most comprehensive information available about the scale, key actors, instruments, recipients, and uses of finance supporting climate change mitigation and adaptation outcomes.

Pension fund CEO: One of the biggest risks in a long-term investor's portfolio is carbon

Mats Andersson's picture
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Mats Andersson, CEO of Swedish pension fund AP4, spoke at the World Bank Group about the importance of transparency for investors and the impact of a carbon price in shifting investment to cleaner, more sustainable development.

Québec Premier: A price on carbon signals to businesses they have a role in fighting climate change

Philippe Couillard's picture
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The Province of Québec in Canada and the U.S. State of California held their first joint auction of greenhouse gas emissions allowances on Nov. 25. Québec Premier Philippe Couillard talked ahead of the auction about the value of a price on carbon in building a cleaner economy.  

All politics is local – that goes for climate solutions, too

Gary Kleiman's picture
Adding up the Benefits of Climate Action



“How do you engage a country that may not agree with your climate agenda?”

The question came last week, as I was sharing the findings of our recent report, Climate-Smart Development: Adding up the benefits of actions that help build prosperity, end poverty and combat climate change with students from the Williams College Center for Development Economics. I hope my talk answered her question. I pointed out that increasingly, decision-makers want to know if there are investment decisions they can make that address urgent development priorities and, at the same time, address the challenges of a rapidly warming world.
 
Three articles in the news this week reinforce the messages in our report and shed further light on the answer to her question. A pair of research papers point out that black carbon and ground-level ozone – air pollution associated with so-called short-lived climate pollutants, or SLCPs – are already reducing Indian agricultural yields by up to half, and that coal-fired power – a large source of air pollution including CO2 – is costing China 670,000 deaths each year. These are both prime examples of local development issues that present climate-smart investment choices. As governments search for solutions to their health and agriculture problems that are exacerbated by air pollution, they have two options: invest in smoke stack controls and other interventions that eliminate the air pollution causing crop loss and mortality, but keep churning out CO2, or invest in alternative energy sources and efficiency measures that will also reduce both forms of climate pollution. 

Using auctions to keep methane-reduction projects running: An interview with Vikram Widge

Isabel Hagbrink's picture
Gas flaring


Vikram Widge heads the World Bank Group’s Climate and Carbon Finance Unit. He spoke from the UN Climate Summit about the new Pilot Auction Facility for Methane and Climate Mitigation (PAF).
 
Q. U.S. Secretary of State John Kerry and the Swedish Energy Agency just pledged $15 million each for the design of a new facility called the Pilot Auction Facility for Methane and Climate Mitigation. What is the PAF?

The World Bank Group is designing a new climate finance pilot that will support emission reductions in developing countries. Because of limited public resources available for climate investment, this facility leverages private capital to support projects that reduce greenhouse gas emissions and are at risk of being decommissioned due to the low price for carbon credits today. 

The facility tests an innovative contract structure by offering put options through an auction to guarantee a minimum price for carbon credits that a project will generate, which gives private-sector buyers, such as projects developers and intermediaries, the security of knowing that they will be paid for investments they make to lower emissions.

Merkel: We support a price on carbon – Growth & climate protection can go hand in hand

Angela Merkel's picture
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In a video shown at the UN Climate Leadership Summit on Sept. 23, 2014, German Chancellor Angela Merkel talks about her country's support for carbon pricing and how it can drive low-carbon growth. 

The atmosphere at the People’s Climate March is electric

Rachel Kyte's picture
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The People's Climate March drew people from all over the world to New York City today, and you could feel the energy in the air. Across town, government ministers are beginning to feel the sense of urgency, too. 


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