5 June 20
08: The Organisation for
Economic Co-operation and Development's (OECD) Forum 2008 and the annual
OECD Council at ministerial level considered ‘Climate Change, Growth and
Stability' and ‘Outreach, reform and the economics of climate change,'
respectively, during their meetings in Paris, France, from 3-5 June 2008.
June 2008: The World Bank has priced a US$25 million bond linked to Certified
Emissions Reductions (CERs) to be generated by a Clean Development Mechanism
(CDM) project in China.
9 June 2008: The UN General Assembly
(UNGA) considered private investment's role in mitigating climate change and
how climate change, in turn, influences private investment decisions, during
this body's first follow-up to its February 2008 thematic debate on climate
3 June 2008: Private and public
sector participants in the Asia Clean Energy Forum, which convened from 2-6
June 2008, in Manila, the Philippines, called for new investments in clean
energy, amid spiraling costs for oil and coal and the growing threat of climate
4 June 2008: The African Development Bank (AfDB) and the World
Bank jointly organized a fourth regional consultation to discuss their
respective strategies on climate change. The 4 June 2008 consultation in Dakar,
Senegal, was the last in a series aimed at brainstorming and seeking ways to
strengthen collaboration with African institutions and development partners in
order to efficiently implement the strategies. Participants identified three
main challenges – energy security and access, cushioning the adverse effects of
climate change, and climate change risk management and adaptation.
3 June 2008: In his address to the High-Level Conference on
World Food Security: the Challenges of Climate Change and Bioenergy, which
convened from 3-5 June 2008, in Rome, Italy, the Secretary-General of the UN
Conference on Trade and Development (UNCTAD), Supachai Panitchpakdi, criticized
subsidized exports from the developed world, noting that many former net
exporters of food in Africa, Asia and Latin America are now net importers as a
result of the market distortions caused by the subsidies.
21 May 2008: The Commission on Growth and Development has released its report entitled “The Growth Report: Strategies for Sustained Growth and Inclusive Development,” in which it analyzes, among other issues, whether deve loping countries can grow as fast as the fastest growing economies without causing global greenhouse gases to spiral out of control.
29 May 2008: Climate change poses “particularly serious macroeconomic, fiscal, and financial challenges for low-income countries,” said Takatoshi Kato, Deputy Managing Director of the International Monetary Fund (IMF) at the Fourth Tokyo International Conference on African Development (TICAD IV), which convened in Yokohama, Japan, from 28-30 May 2008.
29 May 2008: In an address to the European Parliament's Temporary Committee on Climate Change, World Trade Organization (WTO) Director-General Pascal Lamy highlighted and reviewed different approaches regarding the WTO's role in combating climate change.
23 May 2008: Representatives from 40 donor and developing countries, meeting in Potsdam, Germany, reached an agreement on the creation of two international investment funds that will provide innovative financing for developing countries to pursue cleaner development paths and protect themselves from the impacts of climate change.