Finance

OECD, IEA Explore Role of Paris Agreement in Enhancing Climate Adaptation [viewed]

OECD_NEW21 May 2015: The Secretariats of the Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA) have released a report, titled 'The Role of the 2015 Agreement in Enhancing Adaptation to Climate Change,' which explores the technical pros and cons of Parties' adaptation-related proposals for the 2015 agreement, focusing on aspects that may help enhance policies and coordinated planning for national adaptation.

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CIF Expands Investment Opportunities to 72 Countries [viewed]

CIF19 May 2015: Decisions taken during the semi-annual Climate Investment Funds (CIF) governing body meetings will bring the US$8.1 billion CIF to a total of 72 developing and middle-income countries in the areas of renewable energy, technology, sustainable forestry and climate resilience. During the meetings, the CIF earmarked US$100 million to Ghana, Nicaragua and Haiti to help them develop their renewable energy markets.

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UNDP, UNEP Support Environment and Climate Mainstreaming for Poverty Reduction [viewed]

UNDP UNEPMay 2015: The UN Development Programme (UNDP) – UN Environment Programme (UNEP) Poverty-Environment Initiative (PEI) has published the second edition of a report, titled 'Mainstreaming environment and climate for poverty reduction and sustainable development: A handbook to strengthen planning and budgeting processes,' which supports the integration and implementation of pro-poor, environmental sustainability objectives into national, subnational and sectoral development policies, plans and budgets to contribute to poverty alleviation and an inclusive, green economy.

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GCF Set to Begin Funding Projects [viewed]

green-climate-fund-new23 May 2015: The Government of Japan and the Green Climate Fund (GCF) have signed a contribution arrangement confirming the conversion of Japan's pledge of US$1.5 billion equivalent, which carries the Fund over the required 50% threshold to begin allocating resources for projects and programmes in developing countries.

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Climate Week Paris Showcases Business Leadership on Climate Change [viewed]

climate_week_paris22 May 2015: Planned 200 days in advance of the 21st session of the Conference of the Parties (COP 21) to the UNFCCC, Climate Week Paris highlighted that "climate action makes good business sense." Business leaders, policymakers and non-governmental organizations (NGOs) alike confirmed that a strong global climate change agreement, to be adopted at COP 21, will be a critical signal to the private sector to scale up their low-carbon activities.

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Climate Finance Day Focuses on Shifting Capital to Low-Carbon Economy [viewed]

climate_finance_day22 May 2015: At the Paris 2015 Climate Finance Day, key stakeholders from the financial sector gathered for four roundtables on climate change, which all centered around the theme of shifting trillions of dollars toward the goal of limiting global warming below 2°C above pre-industrial levels. In addition, two platforms for tracking climate actions in the financial sector were announced and speakers throughout the day discussed tools for mitigating risk and transaction costs of climate-friendly projects.

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Stakeholder Launch of Sustainable Innovation Forum 2015 Held at Climate Week Paris [viewed]

climate_action_parisweek21 May 2015: The UN Environment Programme (UNEP) and Climate Action held a Stakeholder Launch of the Sustainable Innovation Forum 2015 (SIF15) at Climate Week Paris, 200 days ahead of the SIF event to be held at the 21st session of the Conference of the Parties (COP 21) to the UNFCCC in December 2015. UNEP and Climate Action partner to host the SIF, which is the largest business-focused event at each COP session.

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Business Leaders Call for Global Climate Deal, Net Zero Emissions [viewed]

climate_week_paris_businessclimate_summit21 May 2015: During the Business & Climate Summit, a key event of Climate Week Paris, leaders of major businesses worldwide called on policymakers to leverage public and private finance to shift to a low-carbon economy, introduce carefully designed and predictable carbon pricing, and eliminate fossil-fuel subsidies. The Summit mobilized over 6.5 million companies from more than 130 countries through 25 business networks, who pledged to lead the global transition to a low-carbon, climate-resilient economy.

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Campaign to Align Corporate Emission Reduction Targets with 2°C Goal [viewed]

science_based_targets20 May 2015: The Science Based Targets initiative has launched a global campaign to recruit 100 companies by the end of 2015 to set emission reduction targets in line with climate science. While 80% of the world's 500 largest companies are setting such targets, only the most proactive companies are doing so at the level required to meet the internationally agreed goal of limiting global temperature rise to 2°C above pre-industrial levels by 2100.

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Event: UNFCCC In-Session Workshop on Long-Term Finance [viewed]

At its 20th session, the Conference of the Parties (COP 20) to the UNFCCC requested the Secretariat to organize annually through 2020 in-session workshops on long-term finance, focusing on adaptation finance, needs for support to developing country parties and cooperation on enhanced enabling environments, and support for readiness activities. The 2015 workshop will take place in conjunction with the intersessional negotiations at the Bonn Climate Change Conference in June. The workshop will be held over two afternoons. The programme includes: presentations by the thematic bodies of the UNFCCC, including the Adaptation Committee, the Least developed countries Expert Group (LEG), the Standing Committee on Finance (SCF) and the Technology Executive Committee (TEC); and sessions on scaling up finance to foster adaptation actions in developing countries and fostering investments to enhance resilience to climate change. The sessions will include case studies and break-out groups on the following four topics: the role of collaborative arrangements for managing climate risks; accessing climate finance by strengthening institutional capacity; policy, legal frameworks, country strategies and priority sectors for investments in climate-resilience; interaction between public and private for scaling-up funding and investments in climate resilience. The Secretariat will prepare a summary report of the workshop to present to the COP at the Paris Climate Change Conference in December 2015.  

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