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Michele de Nevers is a Visiting Fellow at the Center for Global Development specializing in climate finance issues. Before joining CGD she was a Visiting Fellow at the Global Economic Governance Programme at University College, Oxford. From 1981 to 2010 she worked for the World Bank, including as Senior Manager of the Environment Department and Director at the World Bank Institute. In the Environment Department she led the preparation of the WB's corporate Environment Strategy and the global consultations on the Bank’s Strategic Framework for Development and Climate Change Michele holds an MS in Management, with a concentration in Finance, from MIT and a BA in Bacteriology from the University of California, Berkeley.
One month since the Paris climate agreement, it’s essential to maintain the momentum of that highpoint in global cooperation towards addressing the problems of climate change. But how can nations now turn words into action? Join us for a panel discussion on tangible policy options to spur the climate action envisioned in the Paris Agreement. How does a carbon market actually work? What is the role of carbon taxes in reducing global emissions? Why is financing tropical forest preservation the cheapest way for rich countries to cut emissions?
At next week’s global climate summit in Paris the mood is likely to be somber in the wake of the devastating terrorist attacks. Spirits won’t be raised by the fact that the national emissions reduction plans submitted so far are only half of what’s needed to keep global temperature increases within the agreed target of 2 degrees Celsius. Also discouraging are the large gaps that remain between how much climate finance developing countries need to cover the costs of mitigation and adaptation and the commitments put forward by developed countries.
Under the rubric of “buttressing sustainability,” the Turkish presidency has placed development at the center of its G-20 agenda, with a special focus on climate change finance. As G-20 leaders assemble this weekend, with the UN climate summit in Paris just two weeks later, the conversation will undoubtedly focus on how rich countries can make good on their 2009 Copenhagen commitment to mobilize $100 billion for developing countries by 2020. How can G-20 leaders make the Paris summit a success? Here are three suggestions.
A new CGD working group report says performance payments can play an important role in providing visible and meaningful incentives to reduce deforestation. That’s important because the benefit to the global climate from keeping trees standing is huge.
Protecting tropical forests is good for the global climate and good for development in forested countries. In the absence of robust carbon markets, performance-based funding to reduce emissions from deforestation is a key way donors can provide the incentives and commitment tropical countries need to curtail forest loss.
Tropical forests are undervalued assets in the race to avert catastrophic climate change. They deliver a global—and very public— benefit by capturing and storing atmospheric carbon.
Hela Cheikhrouhou has a tough job. As the first ever executive director of the Green Climate Fund (GCF) she is tasked with establishing a new institution for climate finance amidst considerable fatigue with concept of new climate finance bureaucracy; raising billions of dollars at a time when many promising donor countries face fiscal austerity; and devising implementation processes that satisfy the interests of developing and developed countries, as well as appeal to ministries of environment (critical GCF sponsors) and ministries of finance (funding managers).
Last Tuesday the U.S. Supreme Court decided, by a 5 to 4 vote, to allow states to temporarily stop preparing to implement the Obama administration's signature regulation for cutting greenhouse gas emissions until a series of lawsuits against the rules have been decided. This casts uncertainty on climate policy actions both in the U.S. and internationally, as many developing countries are only willing to take climate action if the US shows leadership.
On Thursday, August 4, the World Bank’s Board of Executive Directors approved a new “Environmental and Social Framework” for bank-financed investment projects. While the new policy framework has cleared the hurdle of Board approval, many questions remain. Will the new framework succeed? Will it enhance country capability and commitment to managing environmental and social risks? And will it reduce the bureaucratic hassles associated with bank lending and bolster demand?