Economics, Trade & Investment

IMF and World Bank Annual Meetings Address World Economic Crisis, Support Efforts to Tackle Climate Change [viewed]

69imfc_am_08_large 13 October 2008: The annual meetings of the Boards of

Governors of the International Monetary Fund (IMF) and World Bank took place on

11-13 October 2008, in Washington DC, US. Finance ministers from developing and

industrialized nations attended the event, which was preceded by a meeting of

the International Monetary and Financial Committee (IMFC) and the Development

Committee. The IMFC and seminars during the week addressed the responses to the

current economic crisis, as well as the challenges posed by higher food and

fuel prices.

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GEF and UNEP Commission Study on Weather Insurance for Wind Power Farms [viewed]

9 October 2008: Commissioned by the UN Environment Programme (UNEP) and the Global Environment Facility (GEF), Paris Re and Marsh have produced an index-based weather cover for the wind energy sector. The study analyzes the technical, legal and financial feasibility of implementing weather coverage in Mexico.

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EU-LAC Forum addresses bi-regional cooperation on climate change [viewed]

The EU, Latin America and the Caribbean: Confronting the challenges of globalisation in a post-Lima Summit partnership 6 October 2008: A bi-regional EU-Latin America and the Caribbean (EU-LAC) forum convened in Paris, France, on 6 October 2008, to address the challenges of globalization and its effect on the economy, social cohesion and the environment. Pamela Cox, World Bank Vice President for Latin America and the Caribbean, addressed the forum, highlighting that some countries in Latin America and its citizens “and particularly the extreme poor, are the most vulnerable to the effects of climate change.”

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OECD Convenes Conference on Competitive Cities and Climate Change [viewed]

The international conference on Competitive Cities and Climate Change 3 October 2008: The Organisation for Economic Cooperation

and Development (OECD) is co-organizing with the province and the city of

Milan, a Conference on Cities and Climate Change, which is scheduled to convene

from 9-10 October 2008, in Milan, Italy.

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World Bank Highlights Increased Funding for Renewable Energy and Energy Efficiency Projects [viewed]

2 October 2008: The World Bank has announced an 87% increase in funding for renewable energy (RE) and energy efficiency (EE) projects and programmes in developing countries in the past fiscal year.

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World Bank Climate Investment Funds Receive Pledges for US$ 6.1 Billion [viewed]

Donor Nations Pledge Over $6.1 Billion to Climate Investment Funds

26 September 2008: Leading industrialized nations met at the

World Bank, and pledged more than US$6.1 billion to the recently created World

Bank Climate Investment Funds (CIF).

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WTO Public Forum Addresses Climate-Trade Interface [viewed]

WTO OMC 26 September 2008: Pascal Lamy, World Trade Organization

(WTO) Director-General, addressed the 2008 WTO Public Forum highlighting that

trade in “environmental goods and services, in particular in climate-friendly

technology, can make vital pollution prevention and reduction equipment more

accessible to countries in need; thereby easing the climate crisis.”

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OECD Secretary-General Highlights Potential for GHG Emission Reductions in the Energy Sector [viewed]

16 September 2008: Angel Gurría, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), participated in the Energy Leaders Summit organized by the Financial Times and World Energy Council, in London, UK, on 16-17 September 2008. Addressing heads of the main traditional and new energy companies, as well as government representatives and financiers, who met to discuss the future of energy beyond 2025, Gurría highlighted the need for public-private partnerships for the development and deployment of “large-scale transformative energy technologies.”

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World Bank Consultations on Development and Climate Change Continue [viewed]

Global Consultations - Development and Climate Change: A Strategic Framework for the World Bank Group September 2008: Global consultations for the development of

a “Strategic Framework on Development and Climate Change for the World Bank

Group” continue receiving comments online from civil society, until 15

September 2008.

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New World Bank Report Highlights Africa's CDM Potential [viewed]

World Bank Carbon Finance Unit (CFU) 3 September 2008: A new World Bank report estimates that Clean Development Mechanism (CDM) projects in sub-Saharan Africa could potentially amount to 740 million tons of carbon dioxide equivalent per year.

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