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1. The Challenges of Climate Financing in Conflict Contexts

Author:
Sagal Abshir
Publication Date:
03-2023
Content Type:
Special Report
Institution:
European Institute of Peace (EIP)
Abstract:
The “Challenges of climate finance in conflict contexts” is a paper by Sagal Abshir, senior advisor to the Environmental Peacemaking Project in Somalia, supported by the Norwegian Ministry of Foreign Affairs. Amidst a general global underfunding of climate action, fragile and conflict-affected states struggle to secure climate financing. This is the case even for countries where climate change exacerbates the impact of chronic war and poverty. Although the funding gap is known, climate finance flows are scarce and scattered to fragile and conflict-affected to adapt and mitigate lag behind what has been promised and what is needed. In the cases of Somalia and Yemen, which are highly vulnerable to climate impacts, it averaged only USD 2 per capita. More generally, the total annual global flows of climate-related finance averaged a little over USD 600B in 2019-2020 – only a third of the IPCC’s estimate of funding required to reach our climate targets – from which only 10 per cent is directed to climate adaptation. The challenges in preparing communities and governments in fragile and conflict-affected states for climate impacts call for a new imagination, new mechanisms, and mobilizing political commitment to ensure climate financing flows help people in these countries respond to climate risks. Other solutions are on the horizon: well-designed climate action can serve as an opportunity to consolidate peace. Lessons learned from pilot climate responses in war-torn countries demonstrated that climate adaptation could contribute to conflict prevention and resolution efforts, such as in the case of Sudan and Nepal. In this paper, Sagal Abshir explores the status of climate finance for the extremely fragile and climate-vulnerable countries of Somalia and Yemen. The author reviews the global climate financing landscape and some challenges of deploying climate financing resources in these contexts. Using Somalia and Yemen as case studies, the paper will take a closer look at how these two countries have fared; and conclude with some reflections and recommendations.
Topic:
Climate Change, Environment, Climate Finance, and Conflict
Political Geography:
Africa and Somalia

2. Climate Financing

Author:
Mohammed Mahmoud
Publication Date:
09-2023
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
Director of MEI’s Climate and Water Program Mohammed Mahmoud speaks to energy and sustainable infrastructure expert Lucia Fuselli on the role of climate financing - a critical component of initiatives aimed at reducing greenhouse gas emissions and bolstering climate resilience.
Topic:
Climate Change, Energy Policy, Water, Infrastructure, Climate Finance, Sustainability, and Carbon Emissions
Political Geography:
Middle East and Global Focus

3. Unaccountable Accounting: The World Bank’s unreliable climate finance reporting

Author:
Jason Farr, James Morrissey, and Christian Donaldson
Publication Date:
10-2022
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Despite being the largest multilateral provider of climate finance, the World Bank supplies very little evidence to support its claims about the amount of climate finance it provides. Oxfam has attempted to recreate the Bank’s reported climate finance figures using public information for projects in the Bank’s FY2020. Oxfam found that the Bank’s current climate finance reporting processes are such that its claimed levels of climate finance cannot be independently verified and could be off by as much as $7bn, or 40%. Without better disclosure practices, the World Bank is asking us to take much on faith. Climate finance funding is too important for us to do that. The World Bank must be more transparent in its reporting so that it can be held to account.
Topic:
Climate Change, Environment, International Cooperation, World Bank, Climate Finance, and Banking
Political Geography:
Global Focus

4. Climate finance in Asia: Assessing the state of climate finance in one of the world’s most climate vulnerable regions

Author:
Christopher Roy
Publication Date:
11-2022
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Asia is particularly vulnerable to climate hazards including extreme temperatures, flooding, droughts, cyclones, and sea level rise. The most vulnerable communities need financial support to help adapt to the climate crisis – they cannot do so alone. Developed countries have promised $100 bn in climate finance to developing countries every year until 2025. This promise has not been met. Asian countries have outlined the support they require and delivering on these needs is integral to bringing climate justice to those most vulnerable to – yet least responsible for – the climate crisis. We find that the climate finance provided to Asia is woefully inadequate to support the necessary adaptation actions and vulnerable communities are suffering as a result.
Topic:
Climate Change, Environment, Finance, and Climate Finance
Political Geography:
Asia

5. The Untapped Potential of Global Climate Funds for Investing in Social Protection

Author:
Mariya Aleksandrova
Publication Date:
01-2021
Content Type:
Working Paper
Institution:
German Institute of Development and Sustainability (IDOS)
Abstract:
Social protection plays a central role in achieving several of the social and environmental goals of the 2030 Agenda for Sustainable Development. As a result, this policy area is gaining increased recognition at the nexus of global climate change and development debates. Various social protection instruments are deemed to have the potential to increase the coping, adaptive and transformative capacities of vulnerable groups to face the impacts of climate change, facilitate a just transition to a green economy and help achieve environmental protection objectives, build intergenerational resilience and address non-economic climate impacts. Nevertheless, many developing countries that are vulnerable to climate change have underdeveloped social protection systems that are yet to be climate proofed. This can be done by incorporating climate change risks and opportunities into social protection policies, strategies and mechanisms. There is a large financing gap when it comes to increasing social protection coverage, establishing national social protection floors and mainstreaming climate risk into the sector. This necessitates substantial and additional sources of financing. This briefing paper discusses the current and future potential of the core multilateral climate funds established under the United Nations Framework Convention on Climate Change (UNFCCC) in financing social protection in response to climate change. It further emphasises the importance of integrating social protection in countries’ Nationally Determined Contributions (NDCs) to access climate finance and provides recommendations for governments, development cooperation entities and funding institutions.
Topic:
Climate Change, United Nations, Climate Finance, Sustainable Development Goals, and Investment
Political Geography:
Global Focus

6. EuroPACE Market Analysis

Author:
Grzegorz Poniatowski, Izabela Styczynska, Karolina Beaumont, and Karolina Zubel
Publication Date:
10-2019
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
EuroPACE is an innovative tool designed to make home renovation simple, affordable and reliable for all Europeans by combining affordable financing with people-centric technical assistance. EuroPACE offers 100% up-front financing that can be repaid over a long term of up to 25 years. The innovation lies in the collection and repayment mechanism – financing is attached to the property and is repaid regularly with charges linked to a property. Homeowners are offered logistical and technical support throughout the process and access to trained and qualified con-tractors. Thus, EuroPACE overcomes the main barriers to home renovation – lack of financing, technical knowledge and complexity of the works. The concept of EuroPACE is inspired by the success of a financing model called Property Assessed Clean Energy (PACE), launched in California in 2008. In the United States (US), the PACE market reached over USD 6 billion in funded projects, including the retrofit of over 220,000 homes, which resulted in more than 50,000 new local jobs and the creation of hundreds new companies.
Topic:
Energy Policy, Markets, Climate Finance, Fiscal Policy, and Innovation
Political Geography:
Europe

7. Gender Equality in Climate Finance: Progress and Aspirations

Author:
Catherine Tinker and Renata Koch Alvarenga
Publication Date:
08-2019
Content Type:
Journal Article
Journal:
The Journal of Diplomacy and International Relations
Institution:
School of Diplomacy and International Relations, Seton Hall University
Abstract:
The article concludes that all proposals for funding climate action through entities created under the UNFCCC should be screened according to the gender policies and plans of the climate funds, including the GEF and the GCF, and the results should be available publicly to provide transparency and build trust and accountability. Broader inclusion of women in decision-making and the requirement of evidence of a gender perspective prior to approving financing for climate change projects will contribute to the normative element of sustainable development and its implementation. The intersection of gender justice and climate justice in reducing the dangerous effects of climate change means allocating adequate financial resources to women leaders and projects generated and administered by women at international, regional, national and local levels, for large and small projects and programs alike.
Topic:
Climate Change, Gender Issues, Treaties and Agreements, Women, Inequality, Climate Finance, and Justice
Political Geography:
Global Focus

8. Reforming the Renewable Fuel Standard

Author:
James Stock
Publication Date:
03-2018
Content Type:
Special Report
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
The US Renewable Fuel Standard (RFS) was introduced in the Energy Policy Act of 2005 and expanded in both scope and duration in the Energy Independence and Security Act (EISA) of 2007. The policy goals of the RFS program are threefold: - enhance energy security through additional domestic production of biofuels, - support rural economies by expanding the demand for agricultural products, and - expand the development and production of second-generation low–greenhouse gas transportation fuels. The RFS requires the blending of increasing quantities of biofuels into the US surface vehicle transportation fuel supply. These quantities are specified in the EISA but are subject to modification by the US EPA under certain conditions (“waiver authorities”). The EPA issues annual rules specifying the overall fractions of renewable fuels in the fuel supply. The fractional requirements are specified by fuel category: cellulosic, advanced biomass-based biodiesel, other advanced fuels, and total renewable fuels. Compliance with the blending standards is demonstrated by obligated parties (petroleum refiners and importers) retiring electronic certificates, called renewable identification numbers (RINs), when they sell petroleum fuel into the surface transportation fuel supply. RINs, which become available when a renewable fuel is blended into the fuel supply, are tradable and bankable (with limitations). Thus obligated parties have the choice of either producing RINs themselves through blending operations or purchasing RINs on the open market.
Topic:
Energy Policy, International Affairs, and Climate Finance
Political Geography:
Global Focus

9. US Carbon Tax Design: Options and Implications

Author:
Jason Bordoff and John Larsen
Publication Date:
01-2018
Content Type:
Special Report
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
While there seem to be no immediate prospects for a national carbon tax in the United States, there is growing interest among some policymakers and thought leaders across the political spectrum. If and when a legislative opening emerges in the coming years, policymakers will need to grapple with a range of important design issues that will determine the effectiveness of a carbon tax in reducing carbon emissions.
Topic:
Energy Policy, International Affairs, and Climate Finance
Political Geography:
Global Focus

10. The new dynamics of global energy and climate

Author:
Rachel Kyte
Publication Date:
11-2018
Content Type:
Video
Institution:
The Brookings Institution
Abstract:
On the heels of a major new report from the Intergovernmental Panel on Climate Change on the rising risks of climate impacts, on November 19th Brookings hosted Rachel Kyte, CEO of Sustainable Energy for All, in conversation with David G. Victor.
Topic:
Climate Change, International Political Economy, and Climate Finance
Political Geography:
Global Focus