6 March 2009: The second design meeting for the World Bank's Forest Investment Program (FIP), a part of its Climate Investment Framework (CIF), took place on 5-6 March 2009, in Washington DC, US.
February 2009: The International Finance Corporation (IFC), a member of the World Bank Group, is financing the construction of the Totoral Wind Farm, Chile's first-ever project-financed wind farm. In related news, the World Bank's Vice President for Europe and Central Asia approved a grant of US$1.5 million for the Armenia Geothermal Energy Development project funded under the Global Environment Facility's (GEF) Geothermal Energy Development Program (GeoFund).
March 2009: The World Bank, in collaboration with the French Agency for Development, the Global Gas Flaring Reduction Initiative and the Egyptian Environmental Affairs Agency, is organizing the Middle East and North Africa (MENA) Carbon Forum, scheduled to convene from 6-7 May 2009, in Cairo, Egypt.
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.
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.
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.
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
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.”
21 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.
23 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.