International Financial Institution

Vulnerable Countries Urge Financial Responses to Climate Change Consistent with 1.5°C Limit [viewed]

v2014 April 2016: Finance ministers of the Vulnerable Twenty (V20) Group consisting of 43 developing countries 'systemically' vulnerable to climate change have agreed to advance climate change responses through financial action compatible with the goal of keeping the global temperature rise below 1.5°C above preindustrial levels, calling for swifter progress towards the developed countries' commitment of US$100 billion annually.

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Inaugural FfD Forum Begins with 2030 Agenda Challenges, Implementation, Follow-Up [viewed]

ECOSOC18 April 2016: The inaugural session of the UN Economic and Social Council (ECOSOC) forum on financing for development follow-up (FfD Forum) opened in New York, US, with ministers, high-level officials, heads of UN departments and agencies and other stakeholders discussing current global economic challenges, including slow economic growth and massive waves of forced migration, the need for concerted action, and innovative development financing options, as well as their contributions to the implementation of the 2030 Agenda for Sustainable Development and the Addis Ababa Action Agenda (AAAA).

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Spring Meetings Address Humanitarian-Development Link [viewed]

wb_imf17 April 2016: The refugee crisis, a slowing economy and other global challenges were in focus for the central bankers, ministers of finance and development and civil society representatives participating in the 2016 World Bank Group - International Monetary Fund (IMF) Spring Meetings.

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World Bank Announces Five-Year Forest Action Plan [viewed]

world_bank_new6 April 2016: The World Bank Group has released the 'Forest Action Plan FY16-20,' which aims to integrate the sustainable management of forests more fully into the Bank's development priorities over the next five years.

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Banks Pledge US$7 Billion for Clean Energy, World Bank Adopts Climate Change Action Plan [viewed]

bloomberg_wbg7 April 2016: A number of private banks and the World Bank Group (WBG) have announced initiatives that will contribute to implementing the Paris Agreement on climate change, which was adopted in December 2015, as well as various Sustainable Development Goals (SDGs). By pledging US$7 billion, a group of eight banks and investors have joined the Bank of America's initiative aimed at stimulating US$10 billion for investments in clean energy and sustainable development. For its part, the WBG has announced its Climate Change Action Plan, which aims to support countries in delivering on their national climate plans, also referred to as Nationally Determined Contributions (NDCs) under the UNFCCC, and sets ambitious targets for 2020 in high-impact areas, including clean energy, green transport, climate-smart agriculture and urban resilience.

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Implementation Update: Momentum Builds Ahead of Paris Agreement Signing Ceremony [viewed]

UNFCCC8 April 2016: This Implementation Update report summarizes activities by UNFCCC Parties related to the fulfillment of their commitments, especially following the adoption in 2015 of the Paris Agreement and in the context of the Sustainable Development Goals (SDGs). Recent news includes actions taken by the UNFCCC Secretariat to support implementation, announcements by Parties of their intention to sign or ratify the Paris Agreement, and efforts by Canada, the US and Thailand aimed at accelerating climate action.

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World Bank and GFDRR, UN-Habitat and UfM to Collaborate on Sustainable Urban Development [viewed]

world_bank_new8 April 2016: Two partnerships related to resilient urban development have been recently been unveiled. The World Bank Group and the Global Facility for Disaster Risk Reduction (GFDRR) have announced a partnership that will strengthen building regulation for disaster resilience in vulnerable countries, by improving implementation and compliance through the 'Building Regulation for Resilience: Managing Risks for Safer Cities' program. For their part, UN-Habitat and the Union for the Mediterranean (UfM) have agreed to cooperate on actions aimed at achieving socially and environmentally sustainable urban development in the Mediterranean region. These developments will help achieve Sustainable Development Goal 11 (Make cities and human settlements inclusive, safe, resilient and sustainable).

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March 2016 Climate Finance Update: Fund Boards Meet, Carbon Markets Under the Spotlight [viewed]

march2016_climate_finance7 April 2016: In the Paris Agreement, agreed upon by 195 UN Member States in December 2015, countries agreed to make “finance flows consistent with a pathway towards low greenhouse gas (GHG) emissions and climate-resilient development.” Developing countries will receive financial resources for both mitigation and adaptation actions, while developed countries are expected to continue to lead in mobilizing climate finance from a variety of sources, with public funds playing a significant role in reaching the previously agreed US$100 billion annual target by 2020. Monthly IIDS RS Climate Finance Updates aim to help track multilateral financing to support the finance goal agreed under the UNFCCC, which will in turn contribute to the implementation of Sustainable Development Goal (SDG) 13 (Take urgent action to combat climate change and its impacts).

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Sustainable Energy Finance Update: Majority of 2015 Renewables Investment Went to Developing Countries [viewed]

energy_finance_review20151 April 2016: When governments adopted the Sustainable Development Goals (SDGs) in September of last year, they agreed to a goal of ensuring access to affordable, reliable, sustainable and modern energy for all (SDG 7) by 2030. In a separate Goal, SDG 17, they set out targets for the means of implementation (MOI) necessary for achieving the SDGs. As the focus shifts from "the year of decisions" to "the year of implementation," the MOI necessary for achieving SDG 7, as well as the other Goals, are receiving greater attention. This update examines recent news related to finance MOI, with a view to identifying what governments and intergovernmental actors are doing to mobilize renewable energy, energy efficiency and energy access finance.

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March 2016 Transparency Update [viewed]

enlighten_unfccc_mrv31 March 2016: During the month of March, the UNFCCC Secretariat published a number of reports in accordance with the current transparency system of the UNFCCC. These include an information note on the creation of a public registry for nationally determined contributions (NDCs), 19 true-up period review reports (TPRs) and the greenhouse gas (GHG) inventory review report for Canada. Two UNFCCC meetings of lead reviewers also took place and the outcomes were subsequently published. In addition, the UN Environment Programme (UNEP) and Global Environment Facility (GEF) en.lighten initiative and the International Partnership on Mitigation and MRV announced transparency-related capacity-building initiatives.

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