International Financial Institution

World Bank Prices Bond Linked to CDM Project [viewed]

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June 2008: The World Bank has priced a US$25 million bond linked to Certified

Emissions Reductions (CERs) to be generated by a Clean Development Mechanism

(CDM) project in China.

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Asia Clean Energy Forum Calls for Investments to Enhance Energy Security and Address Global Warming [viewed]

Asia_clean_energy_forum

3 June 2008: Private and public

sector participants in the Asia Clean Energy Forum, which convened from 2-6

June 2008, in Manila, the Philippines, called for new investments in clean

energy, amid spiraling costs for oil and coal and the growing threat of climate

change.

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Consultation Discusses Climate Change Strategies for the African Development Bank and World Bank [viewed]

4 June 2008: The African Development Bank (AfDB) and the World

Bank jointly organized a fourth regional consultation to discuss their

respective strategies on climate change. The 4 June 2008 consultation in Dakar,

Senegal, was the last in a series aimed at brainstorming and seeking ways to

strengthen collaboration with African institutions and development partners in

order to efficiently implement the strategies. Participants identified three

main challenges – energy security and access, cushioning the adverse effects of

climate change, and climate change risk management and adaptation.

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World Bank Carbon Fund Project in Nicaragua Buying Carbon-Equivalent Emission Reductions [viewed]

Maderas_preciosas

6 June 2008: The World Bank's Carbon Fund is facilitating a

US$8.37 million project in southern Nicaragua that plans to turn 600 hectares

of privately-owned former cattle ranches into new-growth teak forests. The Nicaragua Precious Woods Project began in August 2006,

and intends to absorb nearly 300,000 tons of carbon emissions by the year 2017

while conserving approximately 350 hectares of secondary forest and mature

trees.

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World Bank Announces Adaptation Programme for Glacier Retreat in the Andes [viewed]

29 May 2008: The World Bank announced a new

programme to address the impact of tropical glacier retreat in Bolivia, Peru, and

Ecuador. During the project launch in Lima, Peru, Carlos Felipe Jaramillo,

World Bank director for Bolivia, Ecuador, Peru, and Venezuela noted that “Climate

change will heavily impact Andean countries' economies, particularly the poor.

Adapting to climate change is crucial given the severe and irreversible effects

it will have on the region.”

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Growth Commission Report: Technology is the Key to Coping with Global Warming and Growth [viewed]

Thegrowthreport21 May 2008: The Commission on Growth and Development has released its report entitled “The Growth Report: Strategies for Sustained Growth and Inclusive Development,” in which it analyzes, among other issues, whether deve loping countries can grow as fast as the fastest growing economies without causing global greenhouse gases to spiral out of control.

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IMF Deputy Managing Director: Climate Change Poses Serious Macroeconomic Challenges for Low-Income Countries [viewed]

Takatoshi_kato29 May 2008: Climate change poses “particularly serious macroeconomic, fiscal, and financial challenges for low-income countries,” said Takatoshi Kato, Deputy Managing Director of the International Monetary Fund (IMF) at the Fourth Tokyo International Conference on African Development (TICAD IV), which convened in Yokohama, Japan, from 28-30 May 2008.

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WTO Director-General says International Trade Negotiations Will Benefit from Global Consensus on the Issue of Climate Change [viewed]

Pascallamy29 May 2008: In an address to the European Parliament's Temporary Committee on Climate Change, World Trade Organization (WTO) Director-General Pascal Lamy highlighted and reviewed different approaches regarding the WTO's role in combating climate change.

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UNIDO: Director-General Outlines Climate Change Challenge to Industrial Development Board [viewed]

Kandeh_yumkella14 May 2008: In his opening statement to the thirty-fourth session of UNIDO's Industrial Development Board, UNIDO Director-General Kandeh K. Yumkella said the accelerating process of global climate change is “ possibly the most pervasive and irreversible global crisis.” He said the global energy crisis was also significant because of its widespread implications, especially on industry, and pointed out other global challenges, including food and global instability, as the major challenges that UNIDO has been asked to assist the international community to resolve.

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World Bank Members Reach Agreement on Climate Investment Funds [viewed]

World_banks_global_consultations23 May 2008: Representatives from 40 donor and developing countries, meeting in Potsdam, Germany, reached an agreement on the creation of two international investment funds that will provide innovative financing for developing countries to pursue cleaner development paths and protect themselves from the impacts of climate change.

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