World Bank Report 2010 Highlights Rise in Climate-Related Investments
October 2010: The World Bank presented its Report 2010, which indicates that Bank support to low-carbon investments, including through the International Development Association (IDA) and Trust Funds, rose to US$3.9 billion this fiscal year, up from US$2.4 billion in fiscal 2009.
The Bank also stepped up support for energy access and reliable supply, and implemented new climate risk-management products and financing mechanisms, such as green bonds. Through the Climate Investment Funds' (CIF) Clean Technology Fund (CTF), it also endorsed new investment plans to scale up financing for demonstration, deployment, and transfer of low-carbon technologies. The Pilot Program for Climate Resilience under the CIF's Strategic Climate Fund initiated activities in nine IDA countries this year, including three in Africa and four in fragile States. Similarly, the Forest Carbon Partnership Facility, designed to build global capacity under the international Reduced Emissions from Deforestation and Forest Degradation Program, now has commitments of US$165 million. The Bank is also working on reducing its own carbon footprint and has adhered to Green Press Initiative standards. In addition, its newest building is certified to green building standards. [World Bank Report 2010]