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1.
A large portion of foreign assistance for climate change mitigation in developing countries is directed to clean energy facilities. To support international mitigation goals, however, donors must make investments that have effects beyond individual facilities. They must reduce barriers to private-sector investment by generating information for developers, improving relevant infrastructure, or changing policies. We examine whether donor agencies target financing for commercial-scale wind and solar facilities to countries where private investment in clean energy is limited and whether donor investments lead to more private investments. On average, we find no positive evidence for these patterns of targeting and impact. Coupled with model results that show feed-in tariffs increase private investment, we argue that donor agencies should reallocate resources to improve policies that promote private investment in developing countries, rather than finance individual clean energy facilities.Policy relevanceWe suggest that international negotiations could usefully shift the focus of climate change finance towards adaptation in exchange for mitigation-improving policy reforms in developing countries. There is little evidence that mitigation-related financing is having broader effects on energy production, so new financial arrangements should be the focus of future negotiations. Additionally, international donors should focus efforts on reforming policies to attract private investment. 相似文献
2.
Karl Harvey Schultz 《Climate Policy》2013,13(2):187-197
Climate mitigation credits have mobilized considerable resources for projects in developing countries, but similar funding to adapt to climate change has yet to emerge. The Copenhagen Accord targets up to US$50 billion per year in adaptation funding, but commitments to date have been trivial compared to what is needed. Although there are some studies and suggestions, it remains unclear where the money will come from and how it will be disbursed. Beyond this, many development experts believe that the main hurdle in climate adaptation is effective implementation. A framework, based on the polluter pays principle, is presented here regarding the mobilization of resources for adaptation in developing countries using market mechanisms. It is assumed that mitigation and adaptation are at least partly fungible in terms of long-term global societal costs and benefits, and that quantifying climate vulnerability reductions is possible at least sometimes. The scheme's benefits include significant, equitable and flexible capital flows, and improved and more efficient resource allocation and verification procedures that incentivize sustained project management. Challenges include overcoming political resistance to historical responsibility-based obligations and scepticism of market instruments, and, critically, quantifying climate impact costs and verifying investments for vulnerability reduction credits. 相似文献
3.
Managing disaster risk is increasingly being considered a key line of response in climate adaptation. While funding support for adaptation has been pledged, rationales for support and cost implications are essentially unclear, which may explain why financing is currently only forthcoming at low levels. Various estimates for the costs of adaptation have been suggested, yet the rationale and robustness of the estimates have been difficult to verify. Focusing on weather-related extreme events, we conduct a global assessment of the public finance costs for financially managing extreme event risks. In doing so, we assess countries’ fiscal disaster vulnerability, which we operationalize as the public sector's ability to pay for relief to the affected population and support the reconstruction of lost assets and infrastructure. Methods employed include minimum-distance techniques to estimate the tail behaviour of country disaster risks as well as the inclusion of non-linear loss and financing resources relationships. We find that many countries appear fiscal vulnerable and would require assistance from the donor community in order to bolster their fiscal resilience. Our estimates may inform decisions pertaining to a global fund for absorbing different levels of country risks. We find the costs of funds covering different risk layers to be in the lower billions of dollars annually, compared to estimates of global climate adaptation which reach to more than USD 100 billion annually. Our estimates relate to today's climate, and while disaster losses have currently not been robustly linked to climate change, physical science has made a strong case in attributing changes in climate extremes to anthropogenic Climate Change. We suggest that estimates of current weather variability and related risks, although also associated with substantial uncertainty, can be interpreted as a baseline for discussion and any future projections of risks. 相似文献
4.
It is widely acknowledged that private finance has a key role to play in achieving low-carbon development and resilience to climate change. However, while there have been several studies that have closely examined the data on public climate finance, there have been few such studies of the private climate-related finance data. There is a political dimension to accounting for ‘private finance’ given the commitment of industrialized countries – enshrined in the Copenhagen Accord and the Cancun Agreements – to mobilize US$100 billion of public and private finance for developing countries by 2020, on an annual basis. The availability and quality of data for different types of private climate finance flows with climate benefits (investments, carbon market payments, and voluntary funding) are analysed, and these flows are assessed according to various criteria for inclusion in the $100 billion figure. While existing data suggest that private climate finance invested in developing countries and mobilized by industrialized countries might currently be in the range of $27–123 billion per year, this number is a questionable point of reference. Existing data are limited and of very poor quality: definitions of ‘private climate finance’ are missing and data are hardly verified. Therefore, policy makers will first have to clearly define ‘private climate finance’ and develop systems for measuring, reporting, and verifying it, before using private finance numbers in international climate agreements. 相似文献
5.
Laurence L. Delina 《Climate Policy》2013,13(6):1350-1366
The Asian Development Bank's (ADB) support for the development of the clean energy sector in Asia and the Pacific is examined, together with its implications for mitigating climate change. A key question is whether financing has shifted from fossil fuel projects to renewable energy and energy efficiency in the past decade (2000–2009). Financial data from the ADB – a multilateral source of significant financing in the region – are assessed, and 127 technology-deploying projects and 199 technical assistance projects are evaluated. The assessment suggests that clean energy assistance has gained momentum during the last few years, peaking in 2008, implying a considerable shift in energy investments from conventional fossil-fuel projects to clean energy. Although private sector involvement has been central to the ADB's investment policy, only 30% of funding has been channelled into this sector over the past decade. The reporting of clean energy investments has also progressed within the ADB by including renewable and energy efficiency components in conventional energy projects and other investments, which was not previously accounted for. Nevertheless, the ADB needs to address several challenges in the future, including sustaining funding for clean energy, strengthening private sector investments and improving financial reporting. 相似文献
6.
Britta Horstmann 《Climate Policy》2013,13(4):1086-1096
The Adaptation Fund of the Kyoto Protocol marks a change in the international climate change financing architecture due to its independence from official development assistance, direct access and the majority of developing countries in governance. A major goal of the Adaptation Fund is to finance concrete adaptation projects and programmes in developing countries that are particularly vulnerable to the effects of climate change. The presented analysis considers the results of operationalization of the fund between 2008 and 2010, and the role vulnerability had in the allocation of funds. The definition of ‘vulnerability’ remains broad and currently does not allow for a prioritization in the allocation of funds. Criteria like ‘level of vulnerability’ or ‘adaptive capacity’ still need to be specified. The possibilities for the Adaptation Fund Board to implement a vulnerability-oriented funding approach are limited by the legal basis of the Kyoto Protocol and the principle of a country-driven approach. The effective support of vulnerable communities primarily depends on the institutional capacities and the institutional arrangement at the national level and the quality of analysis the adaptation projects and programmes are based on. 相似文献
7.
纵深并拓宽气候适应国际合作,是《巴黎协定》增强适应行动的主要内容,是“后巴黎”时代延续全面适应行动的重要组成部分。在系统地调研和梳理主要国家/集团适应气候变化国际合作机制以及全球气候适应国际合作重点领域的基础上,分析中国近年来开展的政府间交流机制,双、多边合作机制,国际组织合作以及与发展中国家开展的南南合作等适应气候变化合作重点工作,总结出资金缺乏、合作渠道多元化不足、国际合作模式亟待深化以及“后疫情”时代经济绿色复苏的挑战是中国开展适应气候变化国际合作面临的主要问题。“后巴黎”时代,中国作为全球生态文明建设的重要参与者、贡献者、引领者,深化气候适应国际合作将落脚于深度参与全球气候适应治理机制的建设、深化与全球适应中心的合作、探索气候适应国际合作重点领域和重点工作以及进一步开拓跨国对标城市间的适应气候变化国际合作。 相似文献
8.
Governments are major investors in climate change mitigation, but aversion to public indebtedness has led to reliance on private finance to deliver public assets. Compounding this challenge, financing through Energy Service Contracts is ruled out by accounting rules. With public and traditional private funding avenues closed, government departments have sought contracts that do not disclose the full cost of borrowing, such as the Public–Private Partnership (PPP) described in this case study. We unpack the utility contract filed with the provincial regulator to show that circumventing budgetary constraints cost the Delta School Board (DSB) 8.75% per annum on borrowed private funds while public finance would have cost 4%pa. All levels of the public sector are keen to play their role in climate mitigation. Climate policy is about not passing our burden of unbridled fossil fuel use and greenhouse gas emissions to future generations. If we do not exempt public sector capital investments for decarbonization from deficit regulations, we risk passing an unnecessary economic burden to future generations.
Key policy insights
Transition to a low-carbon economy requires public sector investments that exceed budget deficit regulations and political aversion in many jurisdictions;
Private–Public Partnerships are currently viewed as the solution to this self-imposed fiscal constraint;
PPPs without clear performance targets or contractual templates will expose less experienced public sector investors to high costs and emissions above expectations.
9.
Vanesa Castán Broto 《Climate Policy》2018,18(2):170-183
Should energy projects to extend the use of natural gas be considered for funding under public climate finance commitments? This article provides an overview of evidence for and against climate finance for natural gas projects. The argument focuses on a case study, the UK’s International Climate Fund (ICF). This synthesis concludes that gas-related projects will rarely be eligible for funding under public climate finance, save a few exceptions in which they provide energy access to households directly. Although gas power plants have generally lower emissions than those which use other fossil fuels such as coal, their impact will depend on the material constraints to calculate emissions reductions, the context of implementation, and the political economy of the target country. Three case studies demonstrate that energy access projects need to be understood as providing a whole range of sustainable benefits, from improving local health to reducing emissions. Overall, gas-related projects are complex interventions that require context-specific knowledge of both the effects of technology and the possible business models that can work in context.POLICY RELEVANCEThis article investigates whether projects related to natural gas constitute an appropriate use of public climate finance, with a particular focus on the UK’s International Climate Fund. Policy makers in developed countries will decide in the coming years how to use public climate finance; that is, the fraction of overseas development assistance (ODA) for climate change mitigation and adaptation. In the UK, for example, the ICF is the most important instrument to provide climate finance for developing countries. In 2013, the UK set out a clear position ‘to end support for public financing of new coal-fired power plants overseas, except in rare circumstances.’ This ban has fostered debate about whether similar positions should follow for other fossil fuels such as natural gas, specifically in the context of ICF funding. Similar debates are taking place in other countries such as Germany and Norway, and are informing the implementation of international facilities such as the Green Climate Fund. 相似文献
10.
Michael Grubb 《Climate Policy》2013,13(3):299-301
A growing body of literature suggests that an economic case may exist for investment in large-scale climate change mitigation. At the same time, however, investment is persistently falling well short of the levels required to prevent dangerous climate change, suggesting that economically attractive mitigation opportunities are being missed. To understand whether and where these opportunities exist, this article contrasts macro-level analyses of climate finance with micro-level bottom-up analyses of the scale and composition of low-carbon investment opportunities in four case study developing world cities. This analysis finds that there are significant opportunities to redirect existing finance streams towards more cost-effective, lower-carbon options. This would mobilize substantial new investment in climate mitigation. Two key explanations are proposed for the failure to exploit these opportunities. First, the composition of cost-effective measures is highly context-specific, varying from place to place and sector to sector. Macro-level analyses of climate finance flows are therefore poor indicators of the micro-level landscape for low-carbon investment. Specific local research is therefore needed to understand the opportunities for cost-effective mitigation at that level. Second, many opportunities require enabling governance arrangements that are not currently in place. Mobilizing new low-carbon investment and closing the ‘climate finance gap' therefore requires attention to policy frameworks and financing mechanisms that can facilitate the exploitation of cost-effective low-carbon options.Policy relevanceThe importance of increasing investment in climate mitigation, especially in developing nations, is well established. This article scrutinizes four city-level studies of the scope for cost-effective low-carbon investment, and finds that significant opportunities are not being exploited in developing world cities. Enabling governance structures may help to mainstream climate considerations into investments by local actors (households, businesses and government agencies). While climate finance distributed through international bodies such as the Green Climate Fund may not always be a suitable vehicle to invest directly in disaggregated, local-level measures, it can provide the incentives to develop these governance arrangements. 相似文献
11.
The evolving architecture of global climate change adaptation finance is shifting towards fund mechanisms with competitive application and allocation principles. At the same time, prioritization of the most vulnerable countries is a key goal within this emerging architecture. The paper analyses whether the Green Climate Fund (GCF), by far the largest climate change fund, has so far delivered on its promise to prioritize the most vulnerable countries. For our analysis, we consider the USD 2.5 billion GCF funding allocated until the end of the first mobilization phase and disaggregate it project-by-project into its mitigation and adaptation related amounts. We then analyze the adaptation flows in terms of the recipient country’s level of vulnerability and institutional capacity. We further analyze whether funds are being accessed through independent national entities or international intermediaries and whether recipient countries have developing country priority status. The results show that funds-based adaptation finance creates an ambiguous picture: On the one hand, the GCF is on track in allocating its funds largely to country groups which its statutes aim to prioritize, particularly LDCs, African countries and SIDS. At the same time, the proposal process results in the fact that many countries with the highest climate vulnerability but weak government institutions and fragile state-bureaucracies have missed out and not been able to access project funding, mostly LDCs in Africa and conflict-ridden countries. Further, most countries have not yet been able to access project funds independently through their national entities, limiting direct access and country ownership – the strengthening of which is a major goal of the fund. The findings suggest that simplified approval tracks need to be strengthened in the emerging climate finance architecture so that populations in countries with the lowest institutional capacity but highest vulnerability are not being left behind in the long-run. 相似文献
12.
实现中国2030年前碳达峰、2060年前碳中和需要大量的资金支持,亟需构建与之匹配的气候投融资体系.气候投融资监测、报告与核证(M RV)是气候投融资体系的重要组成部分,一方面能够有效地监督报告资金来源、使用及效果,另一方面能够统筹利用现有资金充分发挥对应对气候变化的积极作用,并撬动更多资金流向气候变化领域.本文通过广... 相似文献
13.
Public developmental institutions are pivotal in shaping the contours of the electricity sector of the developing world and its associated greenhouse gas emissions pathways. However, we have a fragmented and incomplete picture of the evolution of their investments over time and space. This is particularly the case for the recent rise of various Chinese Developmental Institutions (CDIs) for which infrastructure investment estimates range in the trillions under China’s Belt and Road Initiative (BRI) and for which data is mostly not publicly disclosed. We address this gap in two ways: first, we compile and analyze a novel dataset that draws on commercial data tracking, publicly available datasets, and more than 1,000 supporting documents to match financial transactions by the main CDIs and traditional Multilateral Development Banks (MDBs) to power plant projects worldwide. This allows us to conduct a quantitative, comparative analysis of the role of CDIs and MDBs to understand the relative size, technology, and country focus of such investments in the period 1999–2020. Second, we complement the quantitative dataset with 39 expert interviews to shed light on the drivers behind the Chinese investments, with a particular focus on coal projects. The analysis shows that CDIs have rapidly emerged as the largest public finance provider for the electricity sector in the developing world. We also find that, in contrast with the increasingly green BRI rhetoric, the technology portfolio of CDI investments in power plants is still heavily dominated by coal plants. Over time, however, CDIs have increasingly supported more efficient coal plants and increased the share of their portfolio supporting non-hydro renewables and supported a growing number of projects jointly with MDBs. Steering China’s bilateral coal finance flows through international efforts into a more sustainable direction to meet climate goals will require careful consideration of a set of drivers and enablers of the involvement of CDIs and recipient countries in coal projects, which we discuss, as well as of the role of other finance providers, including traditional MDBs. 相似文献
14.
Ravi S. Prasad 《Climate Policy》2019,19(3):354-366
With poverty alleviation and sustainable development as key imperatives for a developing economy like India, what drives the resource-constrained state governments to prioritize actions that address climate change impacts? We examine this question and argue that without access to additional earmarked financial resources, climate action would get overshadowed by developmental priorities and effective mainstreaming might not be possible. A systematic literature review was carried out to draw insights from the current state of implementation of adaptation projects, programmes and schemes at the subnational levels, along with barriers to mainstreaming climate change adaptation. The findings from a literature review were supplemented with lessons emerging from the implementation of India’s National Adaptation Fund on Climate Change (NAFCC). The results of this study underscore the scheme’s relevance.Key policy insights
Experience with NAFCC implementation reveals that states require sustained ‘handholding’ in terms of financial, technical and capacity support until climate change issues are fully understood and embedded in the policy landscape.
Domestic sources of finance are critically important in the absence of predictable and adequate adaptation finance from international sources.
The dedicated window for climate finance fosters a spirit of competitive federalism among states and encourages enhanced climate action.
Enhanced budgetary allocation to NAFCC to strengthen the state-level adaptation response and create capacity to mainstream climate change concerns in state planning frames, is urgently needed.
15.
International cooperation on climate change adaptation is regarded as one of the major avenues to reduce vulnerability in developing countries. Nevertheless, it remains unclear which design properties of international arrangements match with specific problems in local adaptation processes. This paper analyses conditions and institutional design options under which international cooperation can facilitate climate adaptation in urban areas in developing countries. We conduct a qualitative meta-analysis of empirical evidence from 23 cases. Using the archetype approach, we identify re-appearing barriers and change factors in urban squatter settlements and municipal public sectors in developing countries. We characterise five generic modes of international cooperation for climate adaptation based on UNFCCC documents, process observation, and literature review. Combining these analyses, we develop testable propositions that explain how specific design options of international arrangements can alleviate barriers and make use of change factors for urban adaptation in developing countries. We find, first, that international cooperation has the most potential to tackle adaptation barriers in squatter settlements if its institutional mechanisms support improvements of procedures and rights in localised state–society interactions. Second, national or regional centres of competence may foster endogenous dynamics in municipal public sectors. Third, national adaptation policies can enable and incentivise municipal adaptation. Fourth, flexible indicators of adaptation benefits are instruments to tailor international decision making and monitoring systems to local needs. We conclude that these insights, the archetypes approach, and a multi-level study design can be used to advance research on international cooperation, barriers, and success factors for climate change adaptation. 相似文献
16.
There is much scholarly and policy interest in the role that international finance could play in closing the financing gap for community adaptation initiatives. Despite the interest, the overall amount of international adaptation finance that has reached local recipients remains low. What makes internationally-financed climate change adaptation projects focus on investment at the community level is particularly poorly understood. This study systematically assesses conditions that influence the focus on vulnerable local communities in internationally-financed adaptation projects. Using the Adaptation Fund (AF) under the Kyoto Protocol as the case study, we apply fuzzy-set Qualitative Comparative Analysis (QCA) to analyze 30 AF projects to identify specific configurations of conditions that lead to a stronger or weaker community focus in project design. We find that the absence of high exposure to projected future climate risks is a necessary condition for a weaker community focus in AF projects. Three configurations of sufficient conditions are identified that lead to a stronger community focus. They involve the contextual factors of projected future climate risks, civil society governance, and access modality to AF financing. In particular, AF projects with a stronger community focus are stimulated by the sole presence of higher exposure to projected future climate risks in a group of countries, and by the complementary roles of civil society governance and the access modality to the AF in others. These findings contribute new insights on how to enhance local inclusiveness of global climate finance. 相似文献
17.
Climate resilient development is emerging as a global policy strategy that integrates climate adaptation and mitigation into sustainable development decisions. For the Caribbean small island developing state (SIDS) of Antigua and Barbuda, the national government is pursuing climate resilient development through multilateral climate funds to protect economic growth from climate and weather-related disasters. Critical adaptation literature argues that interpreting climate vulnerability through an economic growth lens prioritizes economic solutions over other development concerns, which can further the uneven distribution of climate vulnerability and risk. Despite revealing the consequences of market-based climate actions, research has yet to fully understand the economization of vulnerability, which describes the political techniques that render and reconfigure vulnerability in calculated ways. By tracing the discursive interactions between multilateral climate financial institutions and the Antigua and Barbuda national government, this paper empirically examines how vulnerability is economized through climate resilient development. Findings identify the construction of ‘adaptation economies’ in watershed areas, which are economies that can capitalize upon climate challenges within areas of highest vulnerability through fee-for-climate services. The results illustrate that economic growth rationalities characterize climate vulnerability problematizations, which incentivize solutions that enforce the economic development of areas with the highest disaster impacts. Based on these findings, this study emphasizes a need to critically evaluate national actor efforts to re-organize development under climate financing rationales, and its vulnerability-inducing effects. 相似文献
18.
Peter Warren 《Climate Policy》2019,19(7):861-877
Mobilizing climate finance for climate change mitigation is a crucial part of meeting the ‘well-below’ 2°C goal of the Paris Agreement. Climate finance refers to investments specifically in climate change mitigation and adaptation activities, which involve public finance and the leveraging of private finance. A large proportion of climate finance is Official Development Assistance (ODA) from OECD countries to ODA-eligible countries. The evidence shows that the largest proportion of climate finance for climate change mitigation has been channelled to the development of renewable energy, with a much smaller proportion flowing to other crucial forms of clean energy-related measures, such as demand-side management (DSM) (particularly sustainable cooling) and carbon capture, usage and storage (CCUS). This forms the rationale and aim of this synthesis paper: to review the role of climate finance to develop clean energy beyond renewables. In doing so, the paper draws on practical policy and programme experiences of some donor countries, such as the UK, and Development Finance Institutions (DFIs). This paper argues that a greater amount of climate finance from OECD countries to ODA-eligible fossil fuel-intensive emerging economies and developing countries is required for sustainable cooling and CCUS, particularly in the form of technical assistance and clean energy innovation.
Key policy insights
Demand-side management (DSM) and carbon capture, usage and storage (CCUS) are underfunded in climate finance compared with the promotion of renewables.
Climate finance for sustainable cooling, in particular, represents just 0.04% of total ODA, despite cooling projected to represent 13% of global emissions by 2030.
Public investment in CCUS is limited at US $28 billion since 2007, despite the costs of meeting the Paris Agreement estimated to be 40-128% more expensive without CCUS.
Additional climate finance for these sectors should not come at the expense of funding for renewables but should be complementary to it.
19.
There are compelling reasons for policy makers to be interested in the low-carbon agenda. More than half of the world's population lives in, and more than half of the world's economic output comes from, cities. Up to 70% of global carbon emissions can also be attributed to consumption that takes place in cities. Recent research has shown that cost-effective investments in low-carbon options could deliver a 40% reduction in GHG emissions from cities by 2020, while also providing wider economic benefits such as enhanced competitiveness and increased employment. As yet, however, investments in low-carbon cities have not been made at scale due mainly to the scale of the finance required, local government budgetary constraints, and perceptions about their costs and benefits. With a focus on the UK, a contemporary account is provided of what local authorities see as the major financial risks associated with funding low-carbon cities. Practical proposals – which also have more general relevance to the future financing of low-carbon cities around the world – are offered on how local authorities, in conjunction with central government, the private sector, and institutional investors, can effectively manage these risks. Policy relevance Cities house more than half of the world's population, generate more than half of the world's economic output, and produce between 40% and 70% of all anthropogenic GHG emissions. In the UK, 70% of such emissions are under the influence of its local authorities. Thus, one of the key public policy challenges for the low-carbon transition is how it should be financed. There are several obstacles and related risks to this transition, including financial and legal obstacles and the differing views and perceptions of stakeholders. These can be attenuated, somewhat, by national government support at scale, local authority leadership, and cooperation between other authorities and the private sector, and the development of tools and guidance to reduce transaction costs. 相似文献
20.
适应气候变化政策机制的国际经验与启示 总被引：1，自引：0，他引：1
中国高度重视适应气候变化工作,实行减缓与适应并重的应对气候变化原则,已出台适应气候变化相关的战略、规划等一系列政策文件。但总体来看,中国适应气候变化政策与行动尚处于起步阶段,面临着法规制度缺位、监测评估不足、组织协调机制不完善等挑战,适应气候变化政策的类型、数量和力度都明显弱于减缓。为完善中国适应气候变化政策与机制的框架设计,文中梳理了相关研究、《联合国气候变化框架公约》下的适应气候变化国际机制及主要国家经验,提出了一套完整闭环的适应气候变化核心决策流程及关键支撑机制,并重点从开展法制建设、制定适应战略（计划）、建立监测评估机制、构建协调机制和完善资金机制等五方面,归纳了主要国家的经验与启示,最终研究提出完善我国适应气候变化政策与机制框架设计的建议,包括加快建立和完善适应气候变化法制建设、加快构建国家适应气候变化的政策体系、加快完善国家适应气候变化的机制设计、加强适应气候变化支撑能力建设、推动适应气候变化的国际合作等。 相似文献