Finance

IEA Releases Brief on Benefits of Reducing Fossil Fuel Subsidies [viewed]

8 June 2010: Following the G-20 Finance Ministers and Central Governors' Meeting on 4-5 June 2010, in Busan, Republic of Korea, on the implementation of the G-20 Pittsburgh mandate to phase out inefficient fossil fuel subsidies, the International Energy Agency (IEA) has published a brief on fossil fuel subsidies based on data from 37 countries representing over 95% of global fossil fuel subsidization.

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UNFCCC Publishes Grenada Submissions [viewed]

2 June 2010: The UNFCCC Secretariat has published a submission (FCCC/CP/2010/3) from Grenada, on behalf of the Alliance of Small Island States (AOSIS), consisting of a proposed protocol to the Convention for adoption at the 16th session of the Conference of the Parties (COP 16), to take place in Cancun, Mexico, at the end of 2010.

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New Co-Chair Appointed for UN Advisory Group on Climate Change Financing [viewed]

6 June 2010: UN Secretary-General Ban Ki-moon has announced that Jens Stoltenberg, Prime Minister of Norway, has accepted his invitation to become, with immediate effect, the Co-Chair of the UN High-level Advisory Group on Climate Change Financing.

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G-20 Continues Discussion of Fossil Fuel Subsidies [viewed]

5 June 2010: The Meeting of Finance Ministers of major advanced and emerging economies and Central Bank Governors (G-20), which convened in Busan, Republic of Korea, on 5 June 2010, welcomed the strategies and timetables provided by many G-20 members for rationalizing and phasing out inefficient fossil fuel subsidies that encourage wasteful consumption.

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World Bank Approves Financing for Chillers Replacement [viewed]

3 June 2010: The World Bank approved a bundle of financial instruments for a project called the “Chillers Energy Efficiency Project,” which will replace around 375 chillers in the Philippines with more climate-friendly technologies.

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UNEP Releases Report on Ecosystem Restoration [viewed]

3 June 2010: The UN Environment Programme (UNEP) has released a new report titled "Dead Planet, Living Planet: Biodiversity and Ecosystem Restoration for Sustainable Development." The report highlights that the repair of forests, lakes and other types of nature reserves that have been damaged or depleted can generate wealth, create jobs, sequester carbon and alleviate poverty.

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FAO Releases Report on Forests and Climate Change After Copenhagen [viewed]

May 2010: The Food and Agriculture Organization of the UN (FAO) and RECOFTC-Center for People and Forests have released a report on perspectives for Asia-Pacific with regard to forests and climate change following the 15th session of the Conference of the Parties to the UNFCCC (COP 15), which took place in Copenhagen, Denmark, in December 2009.

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World Bank Responds to Civil Society on Financing Fossil Fuels and Adaptation [viewed]

27 May 2010: Kseniya Lvovsky, the World Bank's Climate Change Team Manager, responded online to questions by civil society on the World Bank's strategy for climate change, including on the Bank's approach to fossil fuel financing and the availability of funds for adaptation.

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World Bank Finances Green Energy in Kenya [viewed]

27 May 2010: The World Bank has approved a US$330 million loan for Kenya to expand electricity access and expand geothermal power generation as part of its green energy development strategy.

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World Bank Approves First Climate Change Development Policy Loan [viewed]

25 May 2010: The World Bank approved its first development policy loan dedicated to climate change mitigation and adaptation, in Indonesia.

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