Finance

World Bank Approves Environmental and Social Framework Inclusive of Ten Safeguards [viewed]

world_bank_new4 August 2016: An Environmental and Social Framework (ESF) meant to expand the protection of people and the environment in World Bank-financed projects has been approved by the World Bank's Board of Executive Directors, following almost four years of review.

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Event: G20 Summit - China 2016 [viewed]

The Group of 20 leaders will convene in Hangzhou, China, to discuss way to enhance international economic cooperation. The theme of the 2016 Summit is China, 'Towards an innovative, invigorated, interconnected and inclusive world economy'. Four Sherpas' Meetings will be held before the Summit for preparation, and one after the Summit on follow-up. In addition, four meetings will be held for Finance Ministers and Central Bank Governors, and six for finance deputies to move forward the financial agenda. G20 trade, employment, energy and agriculture ministers meetings as well as relevant working groups meetings will also seek to promote cooperation in their respective areas and prepare the deliverables for the Summit.  

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Guest Article #144: Severe, Increasingly Common Droughts Demand Climate Change Adaptation [viewed]

With climate change likely intensifying the effects of this year's El Niño, many parts of the world are experiencing longer droughts, more frequent floods and increasingly violent storms. This can have a devastating effect on poor and vulnerable households, underlying the critical role that climate adaptation efforts play in sustaining livelihoods. Ethiopia is facing its worst drought in 50 years. Two successive rainy seasons have failed, leaving up to ten million people in need of aid. As of May 2016, humanitarian funding requirements have increased to more than US$1.5 billion.

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Climate Vulnerable Forum Inaugurates South-South Centre, Ethiopian Presidency [viewed]

cvf15 August 2016: Addressing the Climate Vulnerable Forum (CVF) for the first time in his capacity as Chair, Shiferaw Teklemariam Menbacho, Minister of Environment, Forestry and Climate Change of Ethiopia, stressed that the 43 highly vulnerable member countries of the CVF strive to develop their economies, yet "continue to be faced with serious, devastating and unforeseeable challenges" that hinder progress toward "inclusive and sustainable development."

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2015 Climate Finance by MDBs at US$25 Billion [viewed]

2015_climate_finance9 August 2016: In 2015, six multilateral development banks (MDBs) jointly committed more than US$25 billion in climate finance. According to the '2015 Joint Report on Multilateral Development Banks' Climate Finance,' in addition, a total of US$55.7 billion were committed in co-finance, raising the total to US$80.8 billion. The sum committed in 2015 by the six MDBs represents an 11% drop compared to climate financing commitments in 2014, at US$28.3 billion, but is above 2013 levels (US$23.8 billion). The 2014 report (published in 2015) did not include data for co-financing.

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Adaptation and Loss and Damage Update: Heat-Related Deaths to Increase, Children and the Poor Most Climate Vulnerable [viewed]

adaptation and loss update8 August 2016: As reports of new temperature extremes exceeding the 50°C mark continue to come in, further climate change-related concerns have been voiced by the UN community. The UN Office for Disaster Risk Reduction (UNISDR) has expressed concern over a potential rise in deaths precipitated by heat. The UN Children's Fund (UNICEF) and the World Bank have cautioned that children and the world's poor are among those disproportionately affected by climate change. The Food and Agriculture Organization of the UN (FAO), the UN Economic Commission for Latin America and the Caribbean (ECLAC) and others have emphasized climate change impacts on food security. On the policy side, the Adaptation Committee (AC) and the Least Developed Countries (LDC) Expert Group (LEG) have issued a call for submissions from Parties and stakeholders on their Paris mandates.

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Event: 4th Forum of the Standing Committee on Finance [viewed]

This event will focus on financial instruments that address the risks of loss and damage associated with the adverse effects of climate change. More than 100 representatives from governments, financial institutions, private sector and civil society are expected to attend the forum. The forum has on its agenda: an overview of the approaches that address the risks of loss and damage; taking stock of existing financial instruments that address the risks of loss and damage across different levels and sectors; insights and case studies on these existing financial instruments; experiences on emerging national/regional funding schemes and new financing instruments; ways to replicate and scale‐up good practices and enhance effectiveness and impact; and roles and functions of different actors and strengthening linkages and collaboration. The Standing Committee on Finance (SCF) was mandated by the 17th session of the Conference of the Parties to the UNFCCC (COP 17), to organize a Forum for communicating and continuing information exchange related to climate change finance in order to promote linkages and coherence. The SCF reports on the Forum in its annual reports to the COP. The Forum is being organized by the UNFCCC in cooperation with the Asian Development Bank (ADB).  

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Mitigation Update: Cities Intensify Climate Action; IMO, ICAO Take Steps to Enable Mitigation Policies [viewed]

cdp_unfccc_imo_icao_mrv4 August 2016: The year 2015 has been confirmed as the hottest on record since at least the mid-to-late 1800s, according to the American Meteorological Society (AMS). The 'State of the Climate in 2015' report published in the Bulletin of the AMS notes the combined effect of long-term global warming and a very strong El Niño effect, and reports record-high sea levels, upper ocean heat content, global sea surface temperatures, global surface temperatures, and major greenhouse gas (GHG) concentrations.

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NGOs Make Recommendations for Future HLPF Sessions, Early SDG Action [viewed]

Sustainable Development Goals (SDGs)2 August 2016: Recommendations for future sessions of the High-level Political Forum on Sustainable Development (HLPF) are among the highlights of civil society input and action in recent weeks. They have also offered views and tools on financing for the UN Development System (UNDS), institutional gaps in the UNDS, integrated action to address climate change and achieve the Sustainable Development Goals (SDGs). The Overseas Development Institute (ODI) makes a case for early action to achieve the SDGs, both generally and in Latin America and the Caribbean.

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COP 22 Provisional Agendas Released [viewed]

UNFCCC3 August 2016: From 7-18 November 2016, in Marrakesh, Morocco, the Conference of the Parties to the UNFCCC (COP) will convene for the first time since it adopted the Paris Agreement in December 2015. In addition to the 22nd session of the COP (COP 22), the 12th session of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (CMP 12), the 45th sessions of the Subsidiary Body for Scientific and Technological Advice (SBSTA 45) and of the Subsidiary Body for Implementation (SBI 45), as well as the second part of the first session of the Ad Hoc Working Group on the Paris Agreement (APA 1-2) will take place during the Marrakesh Climate Change Conference. The UNFCCC Secretariat has recently released the provisional agendas for all five of these meetings.

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