Economics, Trade & Investment

Fund Launched to Conserve Congo Basin Rainforest [viewed]

17 June 2008: The Congo Basin

Forest Fund, a multi-donor facility established to take action to protect the

forests in the Congo Basin region, was launched in London, UK. The Fund will be

used over a ten-year period, up to 2018, to finance the

Central African Forests Commission (COMIFAC) Action-Plan in ten different

strategic areas aimed at conserving the Congo Basin rainforest.

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MEM: Leaders Meeting of Major Economies on Energy Security and Climate Change Develops Declaration [viewed]

9 July 2008: The

Leaders Meeting of the Major Economies took place on 9 July 2008, in Hokkaido,

Japan, in conjunction with the G8 Summit. The leaders of Australia, Brazil,

Canada, China, the European Union, France, Germany, India, Indonesia, Italy,

Japan, the Republic of Korea, Mexico, Russia, South Africa, the United Kingdom,

and the United States issued a Declaration, which had been agreed during a

previous meeting held in Seoul, Republic of Korea, from 21-22 June 2008.

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Bonn Climate Change Talks Conclude as Attention Turns to Accra [viewed]

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13 June

2008: Four parallel meetings took place between 2-13 June 2008, in Bonn,

Germany, under the UN Framework Convention on Climate Change (UNFCCC) and Kyoto

Protocol. The second session of the Ad Hoc Working Group on Long-term

Cooperative Action under the Convention (AWG-LCA), which was launched in Bali,

started its substantive work in Bonn, while the resumed fifth session of the Ad

Hoc Working Group on Further Commitments for Annex I Parties under the

Kyoto Protocol (AWG-KP) began the process of listing issues for further

negotiation, particularly on the Kyoto Protocol's market-based mechanisms and

on carbon sinks.  

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G8 Finance Ministers Support Climate Investment Funds [viewed]

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14 June 2008: G8 Finance Ministers, meeting  in preparation for the Summit of the G8 Heads of State and Government in  Hokkaido-Toyako, met from 13-14 June 2008, in Osaka, Japan, and agreed to the “G8  Action Plan for Climate Change to Enhance the Engagement of Private and Public  Financial Institutions.” In their final statement, Ministers supported the  launch of new Climate Investment Funds (CIFs) by the World Bank, which will complement existing bilateral and multilateral efforts, until a post-2012 framework under the UNFCCC is implemented.

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OECD Report: Economic Aspects of Adaptation to Climate Change: Costs, Benefits and Policy Instruments [viewed]

Oecdreport

May 2008: This Organisation for

Economic Co-operation and Development (OECD) publication, edited by Shardul

Agrawala and Samuel Fankhauser, provides a critical assessment of adaptation

costs and benefits in key climate sensitive sectors, as well as at national and

global levels.

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ECLAC Approves the Examination of Socio-Economic Implications of Climate Change as a Priority [viewed]

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13 June 2008: The Economic Commission for Latin America

and the Caribbean (ECLAC) held its thirty-second session from 9-13 June 2008,

in Santo Domingo, Dominican Republic. Among the thirteen approved resolutions

were a number of elements related to climate change.

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WTO's Lamy Says More International Trade Prevents Climate Change and Water Scarcity [viewed]

Pascallamy

3 June 2008: The World Trade

Organization's (WTO) Director-General, Pascal Lamy, addressed the High-Level

Conference on World Food Security, which met in Rome, Italy, from 3-5 June

2006, where he highlighted climate change's impacts on agriculture, including

the potentially greater scarcity of water, and called attention to the

water-saving potential of international trade, by preventing the unnecessary

growth of agriculture in countries without access to sufficient water resources.

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OECD Ministerial Council and Forum Focus on the Economics of Climate Change [viewed]

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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.

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World Bank Prices Bond Linked to CDM Project [viewed]

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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.

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UNGA Discusses Role of Global Private Investments in Climate Change [viewed]

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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

change.

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