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CIF

Who are the barefoot solar sisters…and how can they help forest communities?

Ellysar Baroudy's picture
Photo credit: Lisa Brunzell / Vi Agroforestry
 
In Kenya, a group of Maasai grandmothers provide an inspiring example of how simple actions can transform societies and how, when empowered, women can break down barriers between men and women.

These women never had the opportunity to attend school. But now aged between 40 and 50 years old, they found themselves with a new task. They received training and were tasked with installing and maintaining solar lighting systems in their villages.
 

Empowering a greener future

Mafalda Duarte's picture
CIF launches annual report that marks 2015 as year of achievements
 CIF
Photo: World Bank Group


This is Morocco’s Noor 1 concentrated solar power plant, the first phase of what will eventually be the largest concentrated solar power plant in the world. It is an impressive sight—visible even from space–and it holds the promise of supplying over 500 megawatts of power to over a million Moroccans by 2018. It also embodies the power of well-placed concessional financing to stimulate climate action. Low cost, long term financing totaling $435 million provided by the Climate Investment Funds (CIF) has served as a spark to attract the public and private investments needed to build this massive facility, and it is just one example of how the CIF is empowering a greener, more resilient future.

The trillion dollar challenge

Abhishek Bhaskar's picture

 

According to the International Energy Agency (IEA), full implementation of countries’ submitted pledges for low-carbon development will require USD 13.5 trillion in investments in energy efficiency and low-carbon technologies from 2015 to 2030.  That’s almost USD 1 trillion every year. This means all hands need to be on the deck if the global community is to address one of the biggest development challenges of our times.

De-risking climate-smart investments

Rachel Stern's picture
 CIF / World Bank
The city of Ouarzazate in Morocco will host what will become one of the largest solar power plants in the world. Photo: CIF / World Bank


The investment needs for low-carbon, climate-resilience growth are substantial. Public resources can bridge viability gaps and cover risks that private actors are unable or unwilling to bear, while the private sector can bring the financial flows and innovation required to sustain progress. For this partnership to reach its full potential, investors need to be provided with the necessary signals, enabling environments, and incentives to confidently invest in emerging economies.  

Change agents: women and climate

Mafalda Duarte's picture
Women of Tajikistan
CIF is bringing attention to gender in climate investing in Tajikistan. Photo: CIF


In the arid farming lands of the Pyanj River Basin of Tajikistan, women and children spend much of their days searching for water, food and fuel. But higher temperatures, lower rainfall and less snow up in the mountain glaciers have made their job difficult, if not impossible. 

Bangladesh, a beneficiary of adaptation funding

Arastoo Khan's picture

This week marked another milestone in Bangladesh’s fight against climate change. Bangladesh with its long coastline and high poverty rates is among those countries most at risk from climate change. This week we got some good news on the climate front: Bangladesh was one of the three countries for which the Pilot Program on Climate Resilience (PPCR) was approved. The country will receive a total of US$50 million in grant and US$60 million in near zero-interest credits to pilot climate resilience strategies.

 

The PPCR was created to help highly vulnerable countries to pilot and demonstrate ways to integrate climate risk and resilience into core development planning. It is under the broader umbrella US$6.4 billion Climate Investment Funds (CIF), created in 2008 to finance climate resilience strategies. Today, it is one of just a handful of funds available for adaptation. The CIF’s   partners—donor countries, funding recipients, and five multilateral development banks—were meeting in Washington this week.

 

Until now there has been a spotty history of funding for climate change adaptation. We’ve hardly seen anything of the pledges made in Copenhagen (US$100 billion annually in the long term and US$30 billion as a fast-start fund). Money for adaptation is not even a fraction of what is needed. In this context, PPCR funds provide something real and timely for countries like Bangladesh for which adaptation is key to meeting the Millennium Development Goals.