Finance

Event: Fourth Special Session of the African Ministerial Conference on the Environment (AMCEN) [viewed]

The Fourth Special Session of AMCEN will provide a platform for African countries to further consolidate and enhance Africa's common negotiating position on climate change ahead of the Durban Climate Change Conference and look towards UNCSD. The Session will address issues related to the Climate Green Fund, green economy, and Africa's preparations for the UN Conference on Sustainable Development (UNCSD, or Rio+20) in 2012, with a special emphasis on international environmental governance (IEG).  

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ITTO Supports REDD+ Feasibility Study in Brazil [viewed]

1 August 2011: The International Tropical Timber Organization (ITTO) has signed an agreement with the Japanese company Marubeni to conduct a feasibility study on reducing emissions from deforestation and forest degradation in developing countries, as well as conservation, sustainable management of forests and enhancement of carbon stock (REDD+) in the Brazilian Amazon.

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ESCAP Committee Highlights Importance of Trade in Low Carbon Goods [viewed]

29 July 2011: The UN Economic and Social Commission for Asia and the Pacific (ESCAP) Committee on Trade and Investment, which convened from 27-29 July 2011, in Bangkok, Thailand, highlighted the need for UN assistance to developing Asia-Pacific countries for them to realize the potential for trade and investment in low-carbon goods, technologies and services.

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Multilateral Fund ExCom Supports China's Commitment to Cut HCFCs [viewed]

29 July 2011: During its 25-29 July 2011 meeting in Montreal, Canada, the 64th meeting of the Executive Committee (ExCom) of the Multilateral Fund agreed to grant US$265 million to China to cut hydrochlorofluorocarbon (HCFC) emissions by 2015. The agreement is expected to lead to dual ozone and climate benefits.

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IDB Funds Modernization of Hydroelectric Plants in Brazil and Renewables in Nicaragua [viewed]

IDB28 July 2011: The Inter-American Development Bank (IDB) has approved a US$128 million loan to Brazil to refurbish two large hydropower plants, and a US$22 million loan to Nicaragua to improve access to electricity and supply of renewable energy.

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IDB Funds Access to Green Credit in Honduras [viewed]

IDB27 July 2011: The Inter-American Development Bank (IDB) has approved a US$30 million green line facility for Banco Atlántida of Honduras, to support its loans to environmentally-sustainable projects.

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IDB Joins Airplane Companies in Funding Research on Jet Biofuel from Sugarcane [viewed]

IDB27 July 2011: Boeing, Embraer and the Inter-American Development Bank (IDB) have announced they will jointly fund a sustainability analysis for renewable jet fuel production based on Brazilian sugarcane.

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Adaptation Fund Board Adopts Decisions on Private Donations and Operational Policies Templates [viewed]

Adaptation Fund21 July 2011: The Adaptation Fund Board has adopted two intersessional decisions, on facilitating private donations and on templates for operational policies and guidelines.

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Event: ADB Urban Forum 2011: Financing Future Cities [viewed]

The objectives of this forum include to: familiarize participants with the Asian Development Bank's (ADB's) Urban Operational Plan focusing on the urban environment, the urban economy and urban equity (the 3E agenda) and the products available to support its implementation; increase understanding of mechanisms available for financing green, competitive and inclusive cities; raise awareness of innovative practices in financing green, competitive and inclusive cities; and increase understanding between financiers and borrowers on opportunities and constraints to financing city/regional projects. Representatives from ministries of finance and urban development, mayors, financial and urban planners, financing agencies, contractors, infrastructure companies, and donors are expected to attend.  

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Event: Third Meeting of the Transitional Committee for the Design of the Green Climate Fund [viewed]

At its 16th session, the Conference of the Parties (COP) to the UNFCCC decided to establish a Green Climate Fund, with arrangements to be concluded between the COP and the Green Climate Fund to ensure that it is accountable to and functions under the guidance of the COP. The Green Climate Fund will support projects, programmes, policies and other activities in developing country Parties using thematic funding windows. The COP also decided that the Green Climate Fund shall be designed by a Transitional Committee, which comprises 40 members, with 15 members from developed country parties and 25 members from developing country parties, with members having the necessary experience and skills, notably in the area of finance and climate change. The Transitional Committee is to develop and recommend for approval to the COP at its 17th session to be held in Durban, South Africa, from 28 November to 9 December 2011, a number of operational documents for the Green Climate Fund.  

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