Finance

December 2015 Climate Finance Update [viewed]

December 2015 Climate Finance Update21 December 2015: During the month of December, the Asian Development Bank (ADB), the African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD), the World Bank, the Green Climate Fund (GCF), the Adaptation Fund and the Secretariat of the UN Framework Convention on Climate Change (UNFCCC), among others, reported on new financing pledges and other climate finance news. Multilateral Development Banks (MDBs), climate funds and UN initiatives launched studies, reports and briefs on, inter alia, climate risks and resilience, and adaptation finance. A large number of climate finance-related side events were held during the UN Paris Climate Change Conference in December 2015.

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Event: High-Level Signing Ceremony for Paris Agreement [viewed]

A high-level signing ceremony, convened by UN Secretary-General Ban Ki-moon, will take place as a first step in implementing the Paris Agreement, which was adopted in Paris, France, on 12 December 2015. The Agreement will then be open for signature in New York, US, until 17 April 2017. Countries will also need to adopt the agreement within their own legal systems, through ratification, acceptance, approval or accession. The agreement will enter into force when joined by at least 55 countries, which together represent at least 55% of global emissions. The ceremony is taking place on International Mother Earth Day.  

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UNEP FI, WRI, 2° Investing Initiative Report Focuses on Climate-friendly Investor Activities [viewed]

wri_unepfi_iiDecember 2015: The UN Environment Programme Finance Initiative (UNEP FI), the World Resources Institute (WRI), and the 2° Investing Initiative have published a report, titled 'Climate Strategies and Metrics: Exploring Options for Institutional Investors,' which provides guidance for investors who wish to help facilitate low-carbon change.

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Event: 2016 Annual Meetings of the Inter-American Development Bank and Inter-American Investment Corporation [viewed]

The 57th Annual Meeting of the Board of Governors of the Inter-American Development Bank (IDB) and the 31st Annual Meeting of the Board of Governors of the Inter-American Investment Corporation (IIC) is intended to provide a forum for discussion among the institution's Governors, including finance ministers and central bank presidents, and representatives of multilateral financial institutions, development agencies and private banks. A series of seminars will take place prior to the opening of the meeting. In addition to meetings of the Boards of Governors, the meeting will include sessions on, inter alia: the private sector as an engine of growth for Latin America and the Caribbean (LAC); strengthening financing for the private sector to promote growth; consolidating LAC's participation in global value chains; the Caribbean's energy challenge; protecting productive ecosystems, including the coasts and the ocean, through an integrated approach; a “Blue Urban Agenda”; and the Road to Habitat III. The annual meetings take place in late March or early April each year.  

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UNFCCC COP 21 Adopts Paris Agreement [viewed]

cop21_iisd12 December 2015: On 12 December 2015, in Paris, France, the 21st session of the Conference of the Parties (COP 21) to the UNFCCC adopted the Paris Agreement (FCCC/CP/2015/L.9/Rev.1), a universal, legally-binding agreement to take effect from 2020. Commenting on the new Agreement, COP 21 President Laurent Fabius, Foreign Minister, France, stated, "The Paris Agreement allows each delegation and group of countries to go back home with their heads held high. Our collective effort is worth more than the sum of our individual effort."

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COP 21 Side Events Address African Youth, SDGs, International Mountain Day on Final Day [viewed]

afric_cop2112 December 2015: Following intensive consultations and bilaterals, UNFCCC COP 21 concluded on Saturday, 12 December 2015, with the adoption of the Paris Agreement and associated decision (FCCC/CP/2015/L.9/Rev.1). On 11 December, a number of side events took place on the final official day of COP 21.

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Saint Kitts and Nevis, Venezuela Submit INDCs [viewed]

UNFCCC12 December 2015: The UNFCCC Secretariat has reported that Saint Kitts and Nevis and Venezuela have formally submitted their intended nationally determined contributions (INDCs), bringing the total number of Parties that have made their submissions to 188.

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EBRD Analyzes Impacts of Climate Policies on Government Assets and Financial Stability [viewed]

European Bank10 December 2015: The European Bank for Reconstruction and Development (EBRD) has launched a paper, titled 'Government assets: risks and opportunities in a changing climate policy landscape.' The paper was launched at an event held on the sidelines of the Paris Climate Change Conference.

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CCAC Strengthens Efforts to Reduce Short-Lived Climate Pollutants [viewed]

CCAC9 December 2015: The High Level Assembly (HLA) of the Climate and Clean Air Coalition to Reduce Short-Lived Climate Pollutants (CCAC) committed to ambitious action over the next five years to reduce emissions of the short-term climate pollutants (SLCPs) - black carbon, methane and hydrofluorocarbons (HFCs).

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COP 21 Considers Revised Draft Paris Outcome [viewed]

cop21_day1110 December 2015: Negotiations continued on the draft outcome of the Paris Climate Change Conference on Thursday, 10 December, with COP 21 President Laurent Fabius introducing a revised draft text in the evening. Fabius said there are “open options” on the most complex issues of differentiation, finance and ambition, and asked delegates to examine the document with a "new perspective,” keeping the final agreement in mind, suggesting “we are extremely close to the finish line.” Following a second night of negotiations, delegates were told on Friday that the sixth meeting of the Comité de Paris would convene Saturday morning, 12 December, during which a final draft of the proposed Paris Outcome would be presented.

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