year in review financing combatting climate change uneca, tunis, 3 october 2012
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YEAR IN REVIEW
FINANCING COMBATTING CLIMATE CHANGEUNECA, Tunis, 3 October 2012
Drought Agriculture
Malawi Sudan
Ethiopia Senegal
Zimbabwe Zimbabwe
India Mali
Mozambique Zambia
Niger Morocco
Mauritania Niger
Eritrea India
Sudan Malawi
Chad Algeria
Kenya Ethiopia
Iran Pakistan
2
Two Key Climate Threats:Top 12 Countries Most at Risk from Each
Instruments to Combat Climate Change
•Quantitative Instruments:▫E.g. limits to emitting greenhouse gas
emissions (Kyoto Protocol);•Pricing Signals:
▫Kyoto Instruments: emissions trading, CDM, Nationally Appropriate Mitigation Actions (NAMAs)
•Financing Policies & Measures:▫Funds in support of Policies, Measures, and
Projects.
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Climate Finance Available in Africa Multilateral Financing
Bilateral Financing
Multilateral Financing
Institutions
Carbon Finance
4 FINANCE CARBONE
Potential for Future Domestic Funds to Combat Climate Change ?
Fut. Green Fund
Status of Carbon Finance• Africa is a small emitter of greenhouse gas emissions,
but potential for reduction of emission growth paths nevertheless important.
• Carbon finance potential remains largely unexploited in Africa. ▫ Limits to the Carbon Finance Model in Africa (only 3% of
projects globally in 2009)• Carbon Market in Crisis due to lack of follow-up on
Kyoto Protocol• Extension of the Kyoto Protocol and Reform of CDM
▫ The Kyoto commitment period has expired;▫ The model of implementation of the CDM has to be reformed
– high transaction costs and long gestation periods.
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What are NAMAs?• NAMA: Nationally Appropriate Mitigation Actions
• Part of Bali Action Plan (2007, para.1(b)(ii)) at COP13 referring to voluntary mitigation measures for developing countries post 2012
• Definition: voluntary governmental interventions of a developing country leading to greenhouse gas emissions reduction▫ Potentially bigger magnitude as the project-based activities under the CDM▫ In sink with the overall development needs of a country
• NAMAs have to:▫ Contribute to a country’s development;▫ Mitigate climate change to climate change;▫ Needs to be appropriate to the local environment of where it is employed;▫ Be measurable and verifiable.
• Types of NAMAs: ▫ Unilateral : realized on the basis of domestic resources▫ Supported: in need of international support▫ Credited: production of certified GHG emission reductions that may be sold on the
international carbon market
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Range of Pricing Instruments
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CDM Projects CDM Program of Activities NAMA Sector-based
approaches
Measures at the level of sub-sector
Capacity Building
Volontary program
Entire sector is targeted
Scope of Mitigation Measure
FINANCE CARBONE
Partnership for Market Readiness• World Bank initiative launched in December 2010
• Objective: capacity building for those countries that would like to develop policy instruments for a post-Kyoto (post 2012) carbon market.
• Some figures:▫ 10 contributors towards a total of US$ 75 million▫ Preparation grant of about US$ 350,000▫ Implementation grant between US$ 3 et 8 million▫ 15 countries benefit to date (Africa: Morocco, South Africa)
• Morocco has joined the PMR in 2012. The «Market Readiness Proposal » is under preparation.
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Partnership for Market Readiness Post-Kyoto: the case of Morocco
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www.worldbank.org/climatechange
fmissfeldt@worldbank.org
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