Finance

Long-Term Mitigation May Cost 0.1% of Average Global Annual GDP Growth - OECD [viewed]

© OECD18 September 2009: A new book titled The Economics of Climate Change Mitigation: Policies and Options for Global Action Beyond 2012, launched by the Organisation of Economic Co-operation and Development (OECD), concludes that a full-fledged global carbon market would cost just one-tenth of a percent of average world annual GDP growth between 2012 and 2050 to achieve moderately ambitious climate targets. Put differently, this would mean a 4% reduction in GDP in 2050 compared to a scenario where no policy action is taken. Over the same period, world GDP growth is projected to grow by more than 250%.

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African Union Announces Position on Climate Change [viewed]

© African Union18 September 2009: During his monthly press conference on 17 September 2009 in Addis Ababa, Ethiopia, Jean Ping, President of the Commission of the African Union announced that Africa will request “polluting countries,” regardless of their participation in the Kyoto Protocol, to reduce their emissions “drastically.”

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UNCCD Secretariat Announces Plan to Offset COP 9 Carbon Emissions [viewed]

© UNCCD18 September 2009: The Secretariat of the UN Convention to Combat Desertification (UNCCD) and the Secretary of Environment of Argentina have announced that they are taking action towards making the ninth session of the Conference of the Parties (COP 9) carbon neutral.

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ADB Creates Financing Facility for Energy Efficiency in Pakistan [viewed]

© ADB17 September 2009: The Asian Development Bank (ADB) is extending US$780 million to Pakistan through a financing facility for energy efficiency projects to secure the country's growing energy needs and reduce its reliance on costly, polluting fossil fuels.

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EIB Funds Energy Efficiency in Italy [viewed]

17 September 2009: The European Investment Bank (EIB) is supporting Italy, through a US$200 million framework loan to Centrobanca, to finance small and medium-scale energy efficiency projects, hydroelectric, wind, photovoltaic and biomass plants.

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Climate Change Summit Background Paper Released [viewed]

© UN17 September 2009: Key questions and themes to guide the roundtable discussions of Heads of State and Government during the upcoming Climate Change Summit, to be held on 22 September 2009, have been identified in the UN Secretary-General's Background Paper.

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EU Heads of State and Government Agree on Climate Change Text for Pittsburgh G-20 Summit [viewed]

17 September 2009: The EU Heads of State and Government met informally in Brussels, Belgium, on 17 September 2009, in preparation for the Pittsburgh G-20 Summit.

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Adaptation Fund Board Takes Decisions on Operationalization [viewed]

© Adaptation Fund Board 16 September 2009: At its seventh meeting, held from 14-16 September 2009 in Bonn, Germany, the Adaptation Fund (AF) Board took several landmark decisions concerning the operationalization of, and direct access to, the Fund by eligible parties.

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UNEP FI and Investors Call for Strong Global Climate Change Treaty [viewed]

© UNEP16 September 2009: The International Investor Forum on Climate Change, the world's largest investor forum, co-convened by the United Nations Environment Programme Finance Initiative (UNEP FI), met in New York, US, on 16 September 2009.

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IPCC Member Appointed as UNEP's First Chief Scientist [viewed]

© IPCC16 September 2009: The United Nations Environment Programme (UNEP) has appointed environmental modelling and systems expert Joseph Alcamo as its first Chief Scientist.

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