Last month, a new wind farm began spinning its blades in Jamaica. At 36 megawatts (MW) it became Jamaica’s largest private-sector renewable energy project, set to diversify the country’s energy matrix, reducing its high electricity prices and generating significant environmental and social benefits.
Oilmin Holdings, a logistics management company providing services to the oil, gas, and mining industry in Papua New Guinea, did not employ all that many women, but they had a star performer in Rose.
Rose had risen from administrative assistant to office manager in the company’s headquarters in Port Moresby. Her boss at Oilmin wanted her to go further up the chain, but in their industry, the next logical step – and one required for senior management roles - was managing a field site. It required long hours and smarts. Rose was willing and able, but it also meant a very remote location. It was too risky, her managers decided; they didn’t know how to keep her safe. Sending extra security guards – all male – would only increase the risk to her, not protect her, they concluded.
I recently had the chance to get to know dozens of forward-thinking, dynamic individuals from the public and private sectors. Despite their varied backgrounds, resumes, and perspectives, they shared one thing in common: they have all been influential in shaping the Asia Pacific PPP landscape. Our gathering was part of the IFC PPP Transaction Advisory Services Unit’s four-day Senior Training Program on PPPs and Project Finance, in collaboration with the Harvard Kennedy School in Singapore.
All of the participants – government representatives, donors, private sector clients, World Bank and MIGA staff, as well as senior IFC staff -- offered a different view on how best to combat today’s global PPP challenges. We captured a few key insights from the training program to share with others:
First published by Capital Finance International.
Soon the world will celebrate the one-year anniversary of the historic climate agreement signed in Paris in December 2015. The agreement will be implemented through country-led greenhouse gas (GHG) emissions reduction commitments known as their intended Nationally Determined Contributions (NDCs), which to date have been submitted by 189 countries covering 95 percent of global GHG emissions.
Apart from signaling concrete commitments, these reduction targets also offer a clear signpost of the investment direction countries need to follow as the global economy steers towards a low-carbon, climate-resilient pathway. Estimates point to between $57 trillion and $93 trillion in new low-carbon, climate resilient infrastructure investment by 2030. How developing countries evaluate and respond to their infrastructure needs will greatly determine their ability to meet GHG reduction commitments.
- Intended Nationally Determined Contributions (INDCs)
- private sector investment
- LAC Climate Business Forum
- low-carbon development
- Clean energy
- climate investment
- climate-smart investments
- Private Sector Development
- Climate Change
- Latin America & Caribbean
- climate finance
It is not often that I get to reflect on my own early childhood experience: Some 40 years ago, I attended a public kindergarten in a small town in Germany. My mother would take me there on her blue bike at 7 a.m., I would spend the morning with eight other children my age, and at around 1 p.m., she would pick me up. Many of my friends and colleagues had similar early childhood experiences.
Considering that the potential benefits from supporting early childhood development range from healthy development to greater capacity to learn while in school and increased productivity in adulthood, I consider myself very lucky. Across the world, nearly half of all three- to six-year-olds (159 million children) are deprived of access to pre-primary education (UIS, 2012). Evidence from both developed and developing countries suggests that an additional dollar invested in high-quality preschool programs will yield a return of anywhere between US$6 and US$17.
More broadly speaking, a new study by ITUC shows that investment in the care economy of 2 percent of GDP in just seven developed countries would create more than 21 million jobs and help countries overcome the twin challenges of aging populations and economic stagnation. So the development case for investing in childcare is clear. What about the business case?
Welcome to the “10 Candid Career Questions” series, introducing you to the PPP professionals who do the deals, analyze the data, and strategize on the next big thing. Each of them followed a different path into PPP practice, and this series offers an inside look at their backgrounds, motivations, and choices. Each blogger receives the same 15 questions and answers 10 or more that tell their PPP career story candidly and without jargon. We believe you’ll be as surprised and inspired as we were.
Today, over 80 million tons of CO2 will be emitted from economies around the world. Tomorrow will be the same, as will the day after that. The emitted amounts of CO2 will likely stay in the atmosphere for hundreds, if not thousands of years, further compounding the challenges in reversing the current and expected effects of climate change.
This past December, in Paris, leaders of 195 nations of the world agreed that this trend must be reversed, signaling a historic turning point in the global fight against climate change. The Paris Agreement ratified a global consensus to limit the global average temperature rise to ‘well below 2°C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5°C above pre-industrial levels.’ Developing nations were at the forefront of this agreement, with almost every one of them setting carbon reduction goals. While the public sector will play a major role in helping achieve the ambitious targets, the sheer volume of investment required to support low-carbon energy, transportation, and agriculture projects throughout the developing world leaves a gap of hundreds of billions of dollars that only the private sector is in a position to fill.
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.
Also available in: Spanish
With the passing of the historic climate change agreement in Paris, the buildings sector, which accounts for 32 percent of total energy use and 19 percent of GHG emissions, has been highlighted as a key industry to transform in order to achieve global climate mitigation goals. The private sector has responded with ambitious pledges for action, and must now turn to practical solutions to put the building sector on a low-carbon path.
The good news is that the level of aspiration is very high. I participated in the first-ever Buildings Day at COP21, witnessing ambitious commitments from both the public and the private sector. Over 90 countries have included attention to buildings in their Nationally Determined Contributions (NDCs), with greater than 1,300 commitments from companies and industry and professional organizations.
It's been two months now since the historic climate change conference, COP21, wrapped up in Paris, concluding with 195 countries pledging to take actions to keep global warming to under 2 degrees Celsius. This is an unprecedented achievement in the long history of international climate policy.
Compared to past negotiations, there was a different atmosphere in Paris. The negotiators were determined to find common ground rather than draw insurmountable lines in the sand. Investors lined up with billions of dollars in new financial commitments in addition to the suggested roadmap for developed nations to contribute to the needed $100 billion annually for mitigation and adaptation efforts.
And the private sector was more active and visible than ever before: CEOs from industries as far ranging as cement, transportation, energy, and consumer goods manufacturers announced their own climate commitments in Paris to decrease their carbon footprints, adopt renewable energy, and improve natural resource management.
This enthusiasm was especially apparent during the CEO panel that IFC, the organization I represent, convened during the Caring for Climate Business Forum by UN Global Compact. CEOs from client companies in India, Turkey, Thailand, and South Africa discussed their innovative climate change initiatives, investments, and technologies, and the challenges of scaling up their climate business.