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December 2013

VP Rachel Kyte Welcomes UN Special Envoys on Climate Change

Climate Change Group's picture

World Bank Vice President for Sustainable Development Rachel Kyte issued the following statement welcoming the United Nations announcement today of two new UN special envoys on climate change: John A. Kufuor, who served as president of Ghana from 2001 to 2009 and chairperson of the African Union from 2007 to 2008, and Jens Stoltenberg, the prime minister of Norway from 2000 to 2001 and 2005 to 2013.
 
"The appointment of President John A. Kufuor and former PM Jens Stoltenberg as the Special Envoys on Climate Change by UN Secretary-General Ban Ki-moon is a crucial step to mobilize political will in advance of the UN 2014 Climate Summit. At the World Bank Group we are working with countries to increase ambition and take climate action by highlighting their opportunities for action that build growth, jobs, and resilience. We are delighted to support the Special Envoys, who will be critical to meeting the climate challenge."

Efforts to Protect Tropical Forests Take Big Step Forward – and Money Awaits

Ken Andrasko's picture


 

Last week in Paris, the Forest Carbon Partnership Facility’s partners and stakeholders agreed on groundbreaking rules for investments in tropical forest protection in developing nations – a framework that will also help reduce greenhouse gas emissions in our rapidly warming world.

Capping an intense five days of negotiations, this major milestone unblocks $390 million in funding held in escrow in the facility’s Carbon Fund. The agreement (formally known as a Methodological Framework) spells out how tropical countries should design and implement large-scale protection programs in the lowland and mountain forests of the tropics.

In return, the countries get results-based payments from donor countries that support climate policy and social development goals.

It’s the first time an international organization has put on paper the operational rules for purchasing so-called REDD+ credits to reduce greenhouse gas emissions. (REDD is short for Reducing Emissions from Deforestation and Forest Degradation.)

Reaching consensus on the operational roadmap for REDD+ required input from a diverse set of sometimes-contradictory viewpoints.

Seated at the table to negotiate through the many issues in Paris were donor countries, private corporations, officials from tropical countries willing to experiment with REDD+, civil society organizations and representatives from indigenous groups who were championing the rights of traditional dwellers in tropical forests.

New Funding to Expand Carbon Finance in Low-Income Countries

Brice Jean Marie Quesnel's picture





One of the few bright spots at the recent UN climate talks in Warsaw was the announcement of new financial commitments to the World Bank’s BioCarbon Fund.

Coming hard on the heels of that groundbreaking initiative for sustainable forest landscapes is another piece of good news in international efforts to bring more carbon finance to low-income nations.

The governments of the United Kingdom and Sweden and the Switzerland-based Climate Cent Foundation have pledged more than $125 million for the World Bank’s Carbon Initiative for Development (Ci-Dev), a financial initiative that, like the third tranche of the BioCarbon Fund, will help the least-developed countries access financing for low-carbon investments.

More specifically, the new funding allows the World Bank to focus on helping the world’s poorest countries – especially in Africa – access carbon finance to develop clean energy sources.

It will enable the development and scaling up of a diverse range of projects similar to household biogas systems in Nepal or solar home systems in Bangladesh. It’s also an example of how the World Bank continues its efforts to mobilize private-sector investments for clean development and climate mitigation.

We’re showing, through actions on the ground, that putting a price on carbon is a key part of the solution to the climate challenge.

Rachel Kyte on “The Good News and Bad News on Agriculture and Climate Change”

Karin Rives's picture

Climate-smart agriculture


At the climate talks last month in Warsaw, Poland, negotiators again delayed discussions around agriculture. The good news is that there are steps we can take now to make agriculture part of the solution, World Bank Vice President for Sustainable Development Rachel Kyte writes in a new blog post.

"Agriculture is the only sector that can not only mitigate, but also take carbon out of the atmosphere. It has the potential to substantially sequester global carbon dioxide emissions in the soils of croplands, grazing lands, and rangelands," Kyte writes. Importantly, she says, climate-smart agriculture techniques also improve crop yields, nutritional value, food security, and farmers' incomes, at the same time.

The potential is enormous, she writes. Read the full blog post.