Finance

GEF Council Re-elects Monique Barbut as CEO, Approves Climate-Related Projects [viewed]

Monique Barbut, GEF CEO & Chairperson 14 November 2008: The Global Environment Facility (GEF) Council re-elected Monique Barbut as CEO during its biannual meeting, which took place from 11-13 November 2008, in Washington DC, US. The Council also renewed efforts to scale up technology transfer to developing countries looking to mitigate and adapt to climate change challenges, by approving projects amounting to US$50 million for climate-related activities.

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UNFF Expert Group Discusses Financing Framework, REDD [viewed]

The United Nations Forum on Forests 14 November 2008: The UN Forum on Forests (UNFF) Ad Hoc

Expert Group on Finance convened in Vienna, Austria, from 10-14 November 2008,

to develop proposals for the development of a voluntary global financial

mechanism/portfolio approach/forest financing framework to support: the

implementation of sustainable forest management (SFM); the achievement of the

global objectives on forests; and the implementation of the non-legally binding

instrument on all types of forests.

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World Bank Creates Green Bond to Finance Mitigation and Adaptation [viewed]

6 November 2008: The World Bank, in partnership with SEB and

Scandinavian institutional investors, will raise funds for projects seeking to

mitigate climate change or promote adaptation to its effects, through the issue

of a “World Bank green bond.”

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Beijing High-Level Conference Calls for Improved Technology Transfers to Tackle Climate Change [viewed]

8 November 2008: The high-level conference on “Climate

Change: Technology Development and Technology Transfer,” which took place in

Beijing, China, from 7-8 November 2008, was co-hosted by the UN Department of

Economic and Social Affairs, and supported by the UN Foundation.

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EC Announces Communication on Deforestation and Climate Change [viewed]

7 November 2008: At the 44th session of the International

Tropical Timber Council and the Associated Sessions of the four Committees

(Finance and Administration, Economic Information and Market Intelligence,

Forest Industry, and Reforestation and Forest Management), the European

Commission (EC) announced a communication on deforestation and climate change,

with the goal of informing the EU position at the upcoming climate change

negotiations in Poznan, Poland.

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UNIDO and China to Tackle Climate Change [viewed]

UN industrial agency partners with China to tackle climate change

7 November 2008: The UN Industrial Development Organization

(UNIDO) is collaborating with China to address the problem of climate change

through agreements to increase clean development mechanism (CDM) clean energy

projects and boost the use of hydropower in Africa.

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Documents Posted for 34th GEF Council and Climate Funds Meetings [viewed]

6 November 2008: Documents for the 34th Global Environment Facility (GEF) Council meeting,

which will convene from 11-13 November 2008, in Washington DC, US, are

available online.

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Sixth World Forum on Sustainable Development Discusses Effects of Globalization in the Face of Climate Change [viewed]

6th World Forum of Sustainable development 31 October 2008: The Sixth World Forum on Sustainable

Development took place in Brazzaville, Republic of Congo, from 27-30 October

2008, and was organized with the participation of several institutions,

including the UN Environment Programme, the UN Development Programme, the UN

Food and Agriculture Organization, the African Union, the African Development

Bank, the Economic Commission for Africa, and the World Environment Fund.

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OECD Releases Paper on Role of Public Finance in Climate Change Mitigation [viewed]

Organisation for Economic Co-operation and Development (OECD)

24 October 2008: The Organisation for Economic Co-operation

and Development (OECD) has released a discussion paper entitled “What Role for

Public Finance in Climate Change Mitigation,” which considers how public

finance in developed countries can best be used to support climate change

mitigation in developing countries.

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UN Secretary-General Underlines the Economic Rationale for “Green Growth” [viewed]

Secretary-General Delivers Rajiv Gandhi Memorial Lecture 30 October 2008: In a lecture delivered at the Rajiv Gandhi

Foundation in New Delhi, India, UN Secretary-General Ban Ki-moon underlined

that the financial crisis should not “become an excuse for deferring or backing

away from our fight against climate change.”

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