International Financial Institution

June 2016 Climate Finance Update: Funds Meet, Non-state Actor Engagement Accelerates [viewed]

june20165 July 2016: This issue of the Climate Finance Update features recent global and regional news on climate finance activities by a variety of intergovernmental actors. Several climate funds met in June to make decisions on strategy and funding. A number of disaster recovery and resilience projects received funding in Asia and Africa. The World Bank highlighted developments in carbon pricing, and some concrete measures were taken to increase the engagement of non-state actors in climate financing.

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Transparency and Compliance Update: Developed Countries' Reviews Released, GEF Approves Trust Fund for CBIT [viewed]

Transparency and Compliance Update1 July 2016: In the last month, the UNFCCC Secretariat has released updates regarding national reporting from Parties on their climate change action, including status reports on greenhouse gas (GHG) inventories, reports of the technical review of Biennial Report (BR) submissions, and the summary report on the technical analysis of Andorra's first Biennial Update Report (BUR). Also in June, the Enforcement Branch took up questions of implementation with respect to Ukraine under the Kyoto Protocol, and the Global Environment Facility (GEF) approved a financial initiative and trust fund for the Paris Agreement's Capacity Building Initiative for Transparency (CBIT).

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Sustainable Energy Finance Update: World Bank and India Team Up on Solar, US$1 Billion Pledged for Sustainable Energy in Pacific [viewed]

sustainable_energy_finance1 July 2016: The New Energy Outlook 2016, a long-term forecast published in June by Bloomberg New Energy Finance (BNEF), predicts that coal and gas prices will remain lower than expected. However, with wind and solar costs anticipated to dip relatively lower, the Outlook assures that a fundamental transformation toward renewables is still in the works, with US$7.8 trillion in clean energy investments projected from 2016-2040.

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GCF Board Approves Nine Projects, Adopts Risk and Investment Guidelines [viewed]

green-climate-fund-new30 June 2016: During its 13th meeting, the Green Climate Fund (GCF) Board approved nine new projects, totaling US$256.6 million in GCF funding. The Board also adopted interim risk and investment guidelines, approved resources for national adaptation planning processes and announced a US$200 million pilot for Enhanced Direct Access.

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Adaptation and Loss and Damage Update: Regions Step up DRR Efforts and Resilience to El Niño, Human Mobility, Climate Change and Development Nexus Explored [viewed]

Adaptation_loss_and_damage30 June 2016: As May 2016 became the 13th consecutive month to break the global temperature records, the world's regions' need to adapt to the changing climate grew stronger. In 2015-2016, the periodic warming of the central to Eastern tropical Pacific, known as 'El Niño,' was the strongest since 1997-1998, causing some regions to receive more rain, and others to receive no precipitation. These changes impacted agriculture, food security and nutrition among the affected populations. During the past few weeks, the world's regions, States and sectors have redoubled adaptation efforts, focusing on building resilience and managing disaster risks. The news reported in this Update also demonstrate that the role of cooperation, innovation and knowledge dissemination in advancing climate change adaptation efforts cannot be underestimated.

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CIF Discuss Future Strategy, Share Experiences in Forest Management [viewed]

CIF20 June 2016: The governing bodies of the Climate Investment Funds (CIF) met to make decisions on the Funds' future strategy. The meetings attracted the participation of over 150 experts from approximately 50 developing and donor countries, as well as international organizations and civil society. Following the official opening of the governing body meetings, on 12 June, the joint Clean Technology Fund (CTF) and Strategic Climate Fund (SCF) Trust Fund Committees met on 15 June. This meeting was followed by the CTF Trust Fund Committee Meeting on 16 June.

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European Development Days Focus on SDG Implementation [viewed]

edd16 June 2016: Participants at the European Development Days (EDD 2016) underscored the role of partnerships in implementing the 2030 Agenda for Sustainable Development. The tenth anniversary of the EDD, which was organized by the European Commission (EC), focused on 15 topics related to the implementation of the Sustainable Development Goals (SDGs).

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Capacity Building and Technology Update: SB 44 Outcomes Focus on Implementation of Paris Agreement, GEF Establishes CBIT Trust Fund [viewed]

UNFCCC - GEF - UNITAR18 June 2016: The 44th sessions of the UNFCCC Subsidiary Body for Implementation (SBI 44) and Subsidiary Body for Scientific and Technological Advice (SBSTA 44) and the first session of the Ad Hoc Working Group on the Paris Agreement (APA 1) were held in Bonn, Germany, from 16-26 May 2016. The sessions presented the first opportunity for Parties to consider Paris mandates on capacity building and technology development and transfer, including the terms of reference (ToR) for the Paris Committee on Capacity-building, the Paris Agreement's technology framework, and the scope and modalities for the periodic assessment of the Technology Mechanism in the context of how it serves the Paris Agreement.

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SE4All Advisory Board Endorses 'Going Further, Faster' Strategy [viewed]

SE4ALL16 June 2016: The 2030 goals of the UN's Sustainable Energy for All (SE4All) initiative are to ensure universal access to modern energy services, double the global rate of improvement in energy efficiency, and double the share of renewable energy in the global energy mix. In order to achieve these goals, the SE4All Advisory Board has endorsed the Strategic Framework for Results 2016-2021: 'Going Further, Faster.'

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Guest Article #142: Collaborative Effort of European Financing Institutions to Help Improve Implementation of Climate Change Adaptation [viewed]

When the Paris Agreement on climate change was adopted in December 2015, it included a long-term goal for the adaptation to climate change – “enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change, with a view to contributing to sustainable development […]”. It recognised the direct link of climate change adaptation to sustainable development and further highlighted its importance. This added momentum to an increasing need for practical approaches for climate change adaptation, which can range from making transport infrastructure more resilient to storms and floods, to helping small businesses adapt to increasing water scarcity.

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