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March 2016

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.

PAF first auction named carbon deal of the year

Scott Cantor's picture
Results of the first auction of the Pilot Auction Facility. Photo: PAF


When you think of online auctions, what products come to mind? Perhaps electronics, collectibles or concert tickets, but it’s unlikely that you think of climate finance. However, the Pilot Auction Facility for Methane and Climate Change Mitigation (PAF) recently combined the two, and for this, we are thrilled to be awarded Environmental Finance’s Carbon Deal of the Year 2016.

Delivering on the Paris agreement: Is there a carbon pricing opportunity for India?

Thomas Kerr's picture
Photo: Simone D. McCourtie / World Bank


Negotiators in Paris last December achieved a previously unattainable consensus among all countries — large and small, industrialized and developing — on a target for minimizing climate change.
 
They agreed to hold planetary warming to below 2 degrees Celsius, which can only happen by drastically cutting the greenhouse gas emissions that cause climate change.
 
Adhering to the target requires a de facto energy revolution that transforms economies and societies by weaning the world from dependence on fossil fuels. The magnitude of the task means strategies and spending on a scale far exceeding previous efforts. 

10 practical steps to create an Emissions Trading System

Pierre Guigon's picture
 
10 steps to create an Emissions Trading System. Photo: ICAP

Carbon pricing is increasingly being used by governments and companies around the world as a key strategy to drive climate action while maintaining competitiveness, creating jobs and encouraging innovation. The importance of carbon pricing was amplified in the run up to the global climate change agreement in Paris last December.

As countries move towards the implementation of the Agreement, it is the focus of a World Bank conference in Zurich this week which brings together over 30 developed and developing countries to discuss opportunities and challenges related to the role of carbon pricing in meeting their mitigation ambitions.

Climate change: from negotiations to action

John Roome's picture
Photo: UNFCCC


It has been nearly three months since 195 nations reached a historic agreement at COP21 in Paris to combat climate change and set the world on a path to a low carbon and more resilient future.

And in a little over a month, heads of state and governments will gather in New York to sign the Paris Agreement. Countries will then have one year to ratify the agreement, which will enter into force after it is ratified by at least 55 countries, representing at least 55 percent of global greenhouse gas emissions.

As we approach the signing of the agreement, it's time for countries and companies to seize the momentum from Paris and move from celebration of a landmark deal to action.

So what needs to happen?

A greener future starts with women

Mafalda Duarte's picture
Also available in: Spanish




When I started my career in the world of global development some twenty odd years ago, a number of female leaders inspired me. Rachel Carson had left an epic legacy with her book ‘Silent SpringWangari Maathai, the founder of the Green Belt Movement, had won a Nobel Peace Prize and Jane Goodall was reminding us all of nature conservation causes. And that’s just to name a few of those who were most visible.

One of my first experiences in the developing world was in Mozambique. While there, I saw the devastating impacts of floods not just at the national and community level, but especially on women and girls.