Syndicate content

May 2010

Carbon markets, still in the game

Pablo Benitez's picture

I’m writing to you from what is probably the most exciting place to be in the carbon world this week―Carbon Expo in Cologne Germany―the global trade fair and knowledge-sharing platform on current and future carbon investments. There are thousands of people here from all over the world and the story in the corridors is...well...carbon. It is a meeting place for large and small companies operating in the CO2 market, as well as government representatives and climate experts interested in the latest CO2 projects and climate developments. Carbon Expo is proving to be a showcase for introducing projects to investors and carbon buyers, with sessions on everything from the ‘How-to” of Low Carbon Growth to matchmaking and deal facilitation.

The Carbon Market Outlook

On Wednesday, the World Bank released its annual State and Trends of the Carbon Market report here at Carbon Expo. It had a very interesting story to tell.

Carbon footprints: What you buy matters, but where you live is more important!

Dan Hoornweg's picture

Lots of people, companies, cities, and nations have started to calculate their greenhouse gas (GHG) emissions, since you can only change what you can measure. These measurements are starting to highlight some very interesting trends and show how complex the global results of our lifestyle are.

Will climate finance mean a new path for the World Bank?

Athena Ballesteros's picture

In Copenhagen, donor countries pledged to raise US$30 billion in “fast start funds” and an additional US$100 billion a year by 2020 to invest in reducing emissions and adapting to the impacts of climate change. Though the commitments are clear, the delivery is uncertain. By the June UNFCCC meetings in Bonn, countries will need to start drafting a set of decisions on the financial architecture to manage and distribute these climate funds.

 

Photo: Woman in China counting moneyBy embarking on several climate change initiatives, including an assessment of progress in implementing the Strategic Framework on Development and Climate Change (SFDCC) and the revision of its Energy Strategy, the World Bank has positioned itself to play a role in the management of new climate funds.  The Bank already hosts several climate related trust funds, including the Climate Investment Funds. It is the trustee of the Global Environment Facility (GEF), and its largest implementing agency. The question is whether the Bank should be entrusted with an even larger role in the future of climate finance. If it is going to gain the political support necessary to make this happen, the World Bank must systematically address issues of environmental and social sustainability in its mainstream investments.

 

Political will, money, ingenuity and cooperation for UN Energy goals

Jamal Saghir's picture

Access to energy services and energy efficiency are the two key messages of the report released in New York April 28 by UN Secretary-General Ban-Ki-moon and his Advisory Group on Energy and Climate Change. “Energy for a Sustainable Future” calls on countries—rich, poor and middle-income—to transform their national energy systems to ensure universal access to modern energy services, and reduce global energy intensity by 2030.


These are ambitious goals, the report says. It notes that access, in particular, “requires overcoming complex challenges in some of the poorest and most remote locations on the globe.” Although ambitious, the goals are certainly attainable. Achieving both of them will require political will, money, ingenuity and cooperation, not only among governments, but must also include the private sector and civil society.