22 July 2008: The Independent Evaluation Group, an
independent unit within the World Bank that reports directly to the Bank's
Board of Executive Directors, has released its report evaluating
the effectiveness of World Bank Group (WBG) support to the environment from
1990 to 2007.
1 July 2008:The World Bank signed its first greenhouse gas emission
reductions purchase agreement in Egypt, for a municipal solid waste-composting
project. The facility will feature waste sorting for recovery of recyclables
and aerobic composting of organic waste, reducing the amount of methane and
other greenhouse gases emitted from the landfill site.
8 July 2008: The Asian Development Bank
(ADB) has established a new fund to finance clean energy projects, in the
Asia-Pacific region, that generate carbon credits beyond 2012. “The new fund will provide an incentive
for the ADB's developing member countries to scale up energy efficiency and the
use of renewable energy sources that will contribute to both climate change
mitigation and enhanced energy security,” ADB Vice President Ursula
1 July 2008: The
United Nations Environment Programme (UNEP) has launched the Report Global
Trends in Sustainable Energy Investment 2008: Analysis of Trends and Issues in
the Financing of Renewable Energy and Energy Efficiency. The Report notes
record breaking investment levels in the sustainable energy sector during 2007,
with over US$148 billion of new investment, an increase of 60% over 2006,
largely driven by wind power.
July 2008: The Japan Bank for International Cooperation (JBIC) has signed a
Memorandum of Understanding (MOU) with Pakistan's Ministry of Environment and
Japan Carbon Finance Limited (JCF) to promote the Clean Development Mechanism
(CDM) in Pakistan and to support Japanese entities in their acquisition of the
carbon credits generated by the CDM projects.
1 July 2008: Philippe de
Fontaine Vive, European Investment Bank (EIB) Vice-President, has presented the results of a study on climate change in the
Mediterranean and its consequences on the development of Maghreb and Machreq
17 June 2008: The UN Financing for Development Office, UN-DESA and the Friedrich Ebert
Foundation organized an event on “Carbon Taxes - A Tool for Managing Climate Change or a Threat to the
World's Poor?” on 17 June, 2008, at UN
Headquarters in New York.
18 June 2008: The UN Conference on Trade and
Development's (UNCTAD) Working Party on the Medium-term Plan
and Programme Budget met from 16–18 June 2008, in Geneva, Switzerland, and discussed
a work plan for the implementation of the outcomes of the twelfth UNCTAD, held in Accra,
The World Bank has launched a web site on climate change in the Middle East and
North Africa region (MENA).
1 July 2008: The
World Bank's Board of Executive Directors, meeting on 1 July 2008, approved two
Climate Investment Funds (CIFs) following an extensive public consultation
process that culminated with an agreement on the CIFs by 40 developing and
industrialized countries in Potsdam, Germany, on 21-22 May 2008. The establishment of the CIFs was also endorsed by
the G8 Finance Ministers who met in
Osaka, Japan, in June 2008.