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Climate Change Finance at the World Bank Group

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Climate Change Finance at the World Bank Group ITU Symposium on ICT, Environment and Climate Change Cairo, November 2-3, 2010 Sergio Margulis, The World Bank – PowerPoint PPT presentation

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Title: Climate Change Finance at the World Bank Group


1
Climate Change Finance at the World Bank Group
  • ITU Symposium on ICT, Environment
  • and Climate Change
  • Cairo, November 2-3, 2010
  • Sergio Margulis, The World Bank

2
Three strategic themes
World Banks ICT Sector Strategy (under
preparation)
Connectivity infrastructure Policy, sector
reform, and investments
Use of ICT to transform delivery of public and
private services
Connect
Use of ICT to foster innovation and industry
development across the economy
3
ICTs larger impact lies in enabling energy
efficiencies in other sectors
Potential Impact - Other Sectors
Potential Impact- ICT Sector
ICT contribution to total Global Greenhouse Gases
(GHG)
ICTs impact enabling energy efficiencies in other
sectors
5 xs
  • 15 - 20
  • E.G.
  • Smart grids
  • Smart buildings
  • Smart motors
  • Other
  • PCs and peripherals
  • Data centers
  • Telecoms infrastructure/devices
  • Other

4
Opportunities to reduce GHG and increase energy
efficiency - Mitigation
5
Financing Needs to Deal with Climate Change
Additional investment needs in developing
countries, by 2030
Climate finance covers additional costs and
serves to..
Baseline Private Public Investment
75-100
to catalyze sustainable investments ..enhance
capacity policy leverage other sources of
finance
6
Climate Finance is a Catalyst
  • Climate finance can cover additional cost to
  • Facilitate policies, regulatory frameworks,
    institutions and markets support adaptation and
    mitigation
  • Catalyze transformational private and public
    investments and programs
  • low-carbon technologies
  • terrestrial carbon
  • climate resilience
  • Support research, development and deployment
    of new technologies

7
Developing Countries are already taking action
CHINA Energy efficiency, 20 reduction in energy
intensity from 2005 to 2010 15 renewable
energy target by 2020 Clean technology RD
sustainable transport
BRAZIL Reducing Amazon deforestation by 70 by
2020 biofuel program, energy efficiency
ETHIOPIA Integrating adaptation in sustainable
land management, social protection, hydropower
development, building capacity programs
INDIA Adaptation (drought, floods, cyclones,
glacier melting), energy efficiency, hydro and
new renewable energy, solar energy RD
MOROCCO Integrated approach to tackling CC in
water, agriculture, and urban sectors,
Mediterranean Solar Plan Initiative
CARIBBEAN ISLANDS Adaptation to increasing
hurricanes and storms, using catastrophic risk
bonds
8
Financial and Investment Flows for Climate Action
in DCs
9
(No Transcript)
10
A growing menu of climate finance instruments
Pilot Program for Climate Resilience
Clean Technology Fund
Risk Instruments
(GEF)
11
Mobilizing Finance Climate Investment Funds
Clean Technology Fund demonstration, deployment,
and transfer of low carbon technologies.
Commitment 4.5 billion
Strategic Climate Fund Programs to pilot new
approaches and scale-up Commitment 1.9 billion
Approved in July 2008, CIFs have balanced and
equitable governance with equal representation
from developed and developing countries
12
Clean Technology Fund
  • Thirteen investment plans endorsed with a total
    envelope of US4.5 billion, mobilizing 36
    billion (leverage ratio 18 with all other
    funding and 13 with private sector)
  •  
  • Example Mexico
  • 500 million, leverages 6.2 billion
  • Aims to reduce 20 of national energy consumption
    through energy efficiency
  • Enables shift to efficient, low carbon bus rapid
    transit systems and light rail, and to retire old
    buses
  • Develop renewable energy, particularly wind power
    and mini-hydro installations
  • Colombia, Egypt, Indonesia, Kazakhstan, Mexico,
    Morocco Philippines, South Africa, Thailand,
    Turkey, Ukraine, and Vietnam
  • Regional Program for Concentrated Solar Power in
    Middle East N. Africa

13
Pilot Program for Climate Resilience (PPCR)
  • First operational program under the Strategic
    Climate Fund 1 billion in grants IDA-like
    grants

Purpose Help highly vulnerable countries pilot
and demonstrate ways to integrate climate risk
and resilience into core development
planning Participating countries Bangladesh,
Bolivia, Cambodia, Mozambique, Nepal, Niger,
Tanzania, Yemen, Zambia, Regional Programs
Caribbean (Dominica, Grenada, Haiti, Jamaica,
Saint Lucia, Saint Vincent and Grenadines) and
South Pacific (Papua New Guinea, Samoa, Tonga)
  • Example Cambodia
  • TA for mainstreaming climate resilience
  • Piloting vulnerability assessments and
    investments on an ecosystem basis
  • Data collection on climate risks
  • Promoting participation of the private sector and
    civil society

14
FIP SREP
  • Forest Investment Program launched 2009, total
    pledges US587 million pilot countries Brazil,
    Burkina Faso, DRC, Ghana, Indonesia, Lao PDR,
    Mexico, Peru
  • Program for Scaling up Renewable Energy in Low
    Income Countries launched in 2010, total pledges
    US318 million pilot countries Ethiopia,
    Honduras, Kenya, Maldives, Mali, Nepal

15
Carbon Market Development
  • Expanding the reach and boundary of carbon
    markets
  • The WBG portfolio has more than 200 projects in
    57 developing countries, spanning 23 technologies
  • Africa accounts for one fifth of active projects
    in the WBG carbon finance portfolio compared to
    2-3 share of projects in the CDM pipeline

10 Carbon Funds 2.5 billion
  • Supporting programmatic and sector-wide
    interventions
  • Carbon Asset Development Fund 7 million
  • Carbon Fund - 100 million
  • 4 sellers participants, more programs in
    preparation

Carbon Partnership Facility (CPF)
  • Supporting Country-readiness and piloting
    incentives for reducing emissions from
    deforestation and forest degradation - 160
    million available
  • 37 participating developing countries
  • 11 Readiness grants signed

Forest Carbon Partnership Facility (FCPF)
16
Innovation in Carbon Finance Biocarbon Fund
Costa Rica Coopeagri Forestry Project The
project reimburses farmers for environmental
services of biodiversity protection as a result
of reforestation. Payments will be complemented
with the income from the carbon sales. The
project is expected to sequester around
0.56MtC02e by 2017. China Reforestation on
Degraded Lands in NW Guangxi (8,000 ha) The
project is blending three types of financing from
multiple sources loans (World Bank, commercial),
private equity and carbon finance. Carbon
revenues (expected from 2011) serve as a stable
source of income up to 2017 that contributes to
the repayment of commercial bank loans in the
short-term, helping to bridge the gap before
revenues from timber harvesting are produced.
17
Mobilizing Finance via Capital Markets
  • Example Mongolia Index-based Livestock Insurance
    Project
  • Livestock sector represents 87 of GDP and
    supports half of the population.
  • 999 and 2002 one-third of the national herd was
    lost in successive harsh seasons, showing extreme
    vulnerability.
  • This project introduces a new market-based
    approach that spreads the risk across herders,
    government, and the private sector.
  • World Bank Green Bonds 1.6 billion raises
    through 22 issuances in 15 currencies since
    November 2008
  • Cool Bonds 31.5 million
  • Eco Notes 390 million
  • Products and Advisory Services for catastrophe
    risk financing
  • MultiCat Program
  • Caribbean Catastrophe Reinsurance Facility (2007,
    2008, 2009)
  • CAT DDOs
  • Weather hedges

18
Example of Innovative use of ICT in Arab
Countries
  • How Remote optimization of Load Sharing of
    Boilers used for steam production in the region
  • Program of Activity (PoA) state of the art
    Clean Development Mecanism (CDM)
  • Economy of scale, scalable and replicable,
    unlimited potential
  • Production of Certified Emissions Reduction
    Creation of an asset (can be sold).
  • Increase the IRR of the underlying project
  • Rated best PoA by KfW

19
  • Thank you !!! ?
  • smargulis_at_worldbank.org
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