International Financial Institution

World Bank President Zoellick Presents New Climate Investment Funds at G8 Finance Ministers Meeting [viewed]

President_zoellick

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June 2008: Speaking on the sidelines of the meeting of finance ministers for

the Group of Eight (G8), held in Osaka, Japan, World

Bank President Robert B.

Zoellick presented two new climate investment funds built to support the

UNFCCC's efforts to address the effects of, and mitigate, climate change.

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Maldives Prepares for Climate Change [viewed]

5 June 2008: As

part of the UN World Tourism Organization's (UNWTO) strategy to implement the

recommendations of the Davos Declaration, a project aiming to integrate the

Maldives' tourism into its climate change adaptation activities is underway.

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WTO's Lamy Says More International Trade Prevents Climate Change and Water Scarcity [viewed]

Pascallamy

3 June 2008: The World Trade

Organization's (WTO) Director-General, Pascal Lamy, addressed the High-Level

Conference on World Food Security, which met in Rome, Italy, from 3-5 June

2006, where he highlighted climate change's impacts on agriculture, including

the potentially greater scarcity of water, and called attention to the

water-saving potential of international trade, by preventing the unnecessary

growth of agriculture in countries without access to sufficient water resources.

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World Bank Prices Bond Linked to CDM Project [viewed]

World_bank

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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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