Ref. :  000038847
Date :  2015-11-30
Language :  English
Home Page / The whole website
fr / es / de / po / en

New $500 million initiative to boost large scale climate action in developing countries


Four European countries - Germany, Norway, Sweden, and Switzerland - today announced a new $500 million initiative that will find new ways to create incentives aimed at large scale cuts in greenhouse gas emissions in developing countries to combat climate change. The World Bank Group worked with the countries to develop the initiative.

The Transformative Carbon Asset Facility will help developing countries implement their plans to cut emissions by working with them to create new classes of carbon assets associated with reduced greenhouse gas emission reductions, including those achieved through policy actions.

The facility will measure and pay for emission cuts in large scale programs in areas like renewable energy, transport, energy efficiency, solid waste management, and low carbon cities. For example, it could make payments for emission reductions to countries that remove fossil fuel subsidies or embark on other reforms like simplifying regulations for renewable energy.

We want to help developing countries find a credible pathway toward low carbon development,” said World Bank Group President Jim Yong Kim. “This initiative is one such way because it will help countries create and pay for the next generation of carbon credits.

This new initiative is planned to start operations in 2016 with an initial expected commitment of more than $250 million from contributing countries. The facility will remain open for additional contributions until a target of $500 million is reached. It is expected that the new facility’s support will be provided alongside $2 billion of investment and policy-related lending by the World Bank Group and other sources.

Putting market forces to work is an efficient way of reducing emissions. We expect to achieve significant impact on the ground through the facility and ensure the sustainability of reducing emissions even beyond the facility’s initial support, for example, through carbon pricing instruments like emissions trading systems and carbon taxes, or stronger low-carbon policy standards and their enforcement,” said Prime Minister Erna Solberg of Norway. “We are pleased to support this initiative that will help guide the next generation of carbon market programs.

This facility will work alongside a range of global initiatives and national climate plans to help both developed and developing countries achieve their mitigation goals. It will pay for carbon assets with high environmental integrity and a strong likelihood to comply with future international rules, and will share its learning with the international community.

"It is very encouraging to see this new initiative launched when all eyes are on Paris. Four countries are leading with their example and bridging one of the main challenges for developing countries to achieve low carbon growth. By working with developing countries to establish market-based carbon pricing policies and programs, the facility can help achieve both better growth and a better climate for all,” said Felipe Calderón, Chair of the Global Commission on the Economy and Climate and former President of Mexico.

For more information on the facility, please click here.


Countries : 
- Sweden   
- Norway   

Rate this content
 
 
 
Average of 11 ratings 
Rating 2.18 / 4 MoyenMoyenMoyenMoyen
Same author:
 flecheThe 2017 Atlas of Sustainable Development Goals: a new visual guide to data and development
 flecheImproved water source (% of population with access)
 flecheDigital Dividends
 flecheIndigenous Latin America in the twenty-first century : the first decade
 flecheClimate-Driven Water Scarcity Could Hit Economic Growth by Up to 6 Percent in Some Regions, Says World Bank
 flechePrimary completion rate, both sexes (%)
 flecheWhere Are Forests Being Lost and Gained?
 flecheWaste Not, Want Not – Solid Waste at the Heart of Sustainable Development
 flecheImproving Food Security and Agricultural Productivity: A Priority for Burkina Faso
 flecheBreaking the Gender Earnings Gap
 flecheIndigenous Latin America in the twenty-first century
 flecheWhat challenges will Latin America face in 2016?
 flecheYear in Review: 2015 in 12 charts
 flecheHeads of State and CEOs Declare Support for Carbon Pricing to Transform Global Economy
 flecheImmediate Push on Climate-Smart Development Can Keep More than 100 Million People Out of Poverty
 flecheA New Approach to Cities: Everyone Counts
 flecheLeaders Unite in Calling for a Price on Carbon Ahead of Paris Climate Talks
 flecheWorld Bank Forecasts Global Poverty to Fall Below 10% for First Time; Major Hurdles Remain in Goal to End Poverty by 2030
 flecheSouth Asia Not Taking Full Economic Advantage of Urbanization
 flecheJobs Without Borders
 flecheAide à l’éducation : le Groupe de la Banque mondiale va doubler les financements axés sur des résultats pour les porter à 5 milliards de dollars au cours des cinq prochaines années
 flecheRemittances growth to slow sharply in 2015, as Europe and Russia stay weak; pick up expected next year
 flecheWorld Bank President Outlines Strategy to End Poverty, Welcomes New Development Partners
 flecheBrazil, Colombia and Peru are among the countries of the world with the most water
 flecheBreaking the Cycle of Chronic Poverty in Latin America and the Caribbean
 flecheClean Air and Healthy Lungs: How to Better Tackle Air Pollution
 flecheWho Gains and Who Loses from Plunging Oil Prices in the Middle East and North Africa Region?
 flecheGlobal Economic Prospects to Improve in 2015, But Divergent Trends Pose Downside Risks
 flecheFighting Climate Change & Poverty at the Same Time
 flecheWorld Is Locked into ~1.5°C Warming & Risks Are Rising, New Climate Report Finds
 flecheNew Evidence Highlights What Works to Empower Girls and Young Women
 flecheWomen Empowered by Solar Energy in Bangladesh
 flecheHappy Cows Help Save the Planet: Climate Smart Agriculture in Costa Rica
 flecheFood Price Watch, May 2014: First Quarterly Increase Since August 2012; The Role of Food Prices in Food Riots
 flechePoor Quality Education Holding Back South Asia, World Bank says
 flecheNew Study Adds Up the Benefits of Climate-Smart Development in Lives, Jobs, and GDP
 flecheHillary Clinton and Jim Yong Kim: Empowering Women & Girls Improves the World
 flecheWarmer World Will Keep Millions of People Trapped in Poverty, Says New Report
 flecheWhat Will It Take to Achieve Learning For All?
 flecheWorld Bank Urges Governments to Think Green for Inclusive Growth
 flecheDeveloping World Lags on Global Targets Related to Food and Nutrition, Says IMF-World Bank Report
 flecheWorld Development Report: Gender Equality and Development
 flecheDisclosure of Assets and Income by Public Officials Is Crucial to Curbing Corruption, Finds New StAR Study
 flecheGender Equality: the Right and Smart Thing to Do – World Bank Report
 flecheCitizen security, justice and jobs key to breaking cycles of political and criminal violence: World Bank report
 flechee-Atlas of global development launched by World Bank easy mapping with new data visualization tool
 flecheAdvancing food security in a changing climate
 flecheWorld Bank’s fund for the poorest receives qlmost $50 billion in record funding
 flecheNew report sees cities as central to climate action
 flecheWorld Bank-UN report charts path to prevent death and destruction from natural hazards
 flecheWorld Bank launches new tools to empower innovative solutions to development challenges
 flecheDeveloping countries come to the global economy’s rescue
 flecheProtecting land rights is key to successful large-scale land acquisitions
 flecheIntegrate water management, help countries on hydropower, says review of World Bank Group water strategy
 flecheCountries have opportunities to boost global investment competitiveness, finds World Bank Group
 flecheExperts: opening data will drive global knowledge
 flecheWorld Bank frees up development data
 flecheWorld Bank reforms voting power, gets $86 billion boost
 flecheGlobal trade logistics improving, but more needed to boost recovery
 flecheWorld Bank data now in Google search results
 flecheAdapting to climate change to cost US$75-100 Billion a year
 flecheDoing Business 2010: Governments set new record in business regulation reform
 flecheBangladesh: Who migrates overseas and is it worth their while?
 flecheHigh speed internet is key to economic growth and job creation in developing countries, says new World Bank Group report
 flecheCrisis reveals growing finance gaps for developing countries
 flecheRecovery rides on the 'G-2'
 flecheWorld Bank maps local and global economic geography, calls for greater integration
 flecheNew data show 1.4 billion live on less than us$1.25 a day, but progress against poverty remains strong
 flecheWater and Climate Change
 flecheBusiness Push Benefits Poor
 flecheDeveloping countries growth resilient in the face of financial turmoil and soaring food and energy prices
 flecheNew report sheds light on success strategies of fast-growing countries
 flecheGlobal monitoring report warns on MDG goals
 flecheDeveloping World greenhouse gas projects face carbon market bottlenecks
 flecheState and Trends of the Carbon Market 2008
 flecheIndia top receiver of migrant remittances in 2007, followed by China and Mexico
 flecheGlobalization requires education reforms in Middle East and North Africa, report says
 flecheReport "The road not traveled: Education reform in the Middle East and North Africa"
 flecheDeveloping countries to cushion rich-country slowdown in 2008
 flecheAfrica high on Japan’s agenda in 2008
 flecheIn search of clean energy to meet China’s needs
 flecheAfrica Development Indicators (ADI) 2007
 flecheSpreading and sustaining growth in Africa
 flecheThe human factor in re-engineering government
 fleche“Catalyzing the future: an inclusive & sustainable globalization” - Remarks of Robert B. Zoellick
 flecheWorld Bank Group Pledges $3.5 Billion for Poorest Countries
 flecheWorld Bank and UNODC to Pursue Stolen Asset Recovery
 flecheGlobal Monitoring Report 2007: Confronting the Challenges of Gender Equality and Fragile States
 flecheGreater Attention Needed to Gender Equality and Fragile States to Reach Global Targets by 2015, Says World Bank-IMF Report
 flecheGlobal Economic Prospects 2007: Managing the Next Wave of Globalization
 flecheGlobal Economic Prospects 2007: Managing the Next Wave of Globalization
 flecheWorld Bank Allocates Record Amount of Income For Poorest Countries

 flecheA Funding Call for Nutrition
 flecheSending The Money Home
 flecheInformation and Communications for Development 2006: Global Trends and Policies / World Bank
 flechePoverty reduction and growth : virtuous and vicious circles
 flecheLatin America Needs To Cut Poverty To Boost Growth
 flecheLe moment d'agir est venu
 flecheLatin America: A Need to Boost Spending on Infrastructure
 flecheA New Spark in Romania's Village Schools
 flecheThirty Years of Life in a Favela
 flecheNiger Receives Emergency Aid
 flecheWorking Together to Beat the Heat
 flecheLending Rises, Quality Remains High - World Bank Releases Results for FY 05
 flecheStatement By Paul Wolfowitz, President Of The World Bank, At Conclusion Of G8 Summit
 flecheG-8 Gleneagles Summit and Development
 flecheAid Flows, Debt Relief, And Economic Growth On The Rise In Africa, But Threats To Poverty Alleviation Remain: World Bank Report
 flecheGrowing on the Ashes of Conflict
 flecheDebt Relief
 flecheNew World Bank President Paul Wolfowitz Takes Office
 flechePrêmio Banco Mundial de Cidadania 2005 - Voz Mulher
 flecheNovo Relatorio Aponta Crise Mundial de Aposentadorias
 flecheDeveloping Countries At Odds Over Preferences In Farm Trade Talks
 flecheDevelopment in an Insecure World
 flecheProtect & Promote Poor People’s Knowledge To Raise Their Incomes
 flecheWolfensohn, James D.
 flecheWorld Bank Commits $250 Million for Tsunami-Affected Countries
 flecheEnvironmental Degradation And Climate Change Threaten Development Prospects
 flecheUnited Nations Report Offers New Vision Of Collective Security
 flecheGlobal Economic Prospects 2005: Trade, Regionalism and Development
 flecheRegional Trade Pacts Must Create – Not Divert – Trade to Reduce Poverty: World Bank Report
 flecheMillennium Development Goals : Countdown to 2015 - Gender Equity
 flecheEast Asia: Global Uncertainties Threaten to Mar 2005
 flecheChina Gives Bank Poverty Award
 flecheThe World Bank Leading The Way In Biodiversity
 flecheDebt relief plan eludes IMF Group; Issue likely to be resolved next year
 flecheEradicating Poverty For Stability And Peace
 flecheEasing Policy Risks, Costs And Barriers To Competition Keys To Faster Growth, Less Poverty: World Development Report 2005
 flecheIndigenous Culture Fundamental To Global Development
 flecheWorld Bank
 flecheDevelopment Education Program
 flecheMillenium Development Goals related regional charts
 flecheUniversal primary education
 flecheGlobal poverty evolution (1981-2001)
 flecheWhy Development Policy Lending's Time Has Come
 flecheWorld Bank Paper Urges Major Easing Of Israeli Closure Measures And Stepped-Up Palestinian Reform Efforts
 flecheUnhealthy Environment, Unhealthy People
 flechePoor Nations Agree On Flexible Approach To Kickstart Global Trade Talks
 flecheCities Put New Face on Poverty
 flecheNew AIDS Report Says Latin America Needs Broader Civil Society Participation To Battle Epidemic
 flecheIFC Invests in Caspian Oil and Pipeline Projects
 flecheWorld Bank's Wolfensohn: Poverty Fueling Global Unrest
 flecheKey Services Often Fail Poor People - New Report Shows How Governments and Citizens Can Do Better
 flecheWorld Bank-IMF Annual Meetings Open in Dubai
 flecheWorld Bank Grant Launches Bank-WTO Assistance on Standards
 flecheStatement by Horst Köhler, Managing Director of the International Monetary Fund, on the Work Program of the Executive Board, October 30,2002
 flecheRich Countries Should Show the Way on Trade
 flecheInvesting in Better Globalization sous-titre : Remarks by Horst Köhler Managing Director of the International Monetary Fund at the Council on Foreign Relations Washington, D.C.
 flecheSustaining Development; Our Opportunity in Johannesburg
 flecheWorld Bank Urges More Balanced Global Approach To Development
 flecheAgreement Reached on Increased Funding For Poorest Countries
 flecheWorld Bank President Outlines Post-Monterrey Action Plan to Development Committee
 flecheWorld Bank Anticipates Global Upturn, Urges Increased Help to Poor Countries
 flecheA Partnership for Development and Peace
 flecheWorld Bank estimates cost of reaching the millennium development goals at $40-60 billion annually in additional aid
 flecheGlobalization, Growth and Poverty: Building an Inclusive World Economy
 flechePoverty To Rise in Wake Of Terrorist Attacks in US
 flecheZoellick, Lamy, Wolfensohn Discuss Growth and Development World Bank Calls for 'Development Round' at Qatar
 flecheWorld Bank Reviews Strategy, Launches Projects To Expand Health Coverage, Restructure Banks
 flechePutting Social and 'Green' Responsibility on the Corporate Agenda
 flecheWorld Bank Development Economics Conference Goes Online
 flecheWorld Bank Cancels Academic Meeting in Spain
 flecheWorld Bank Calls For New Compact To Fight Global Poverty
13
SEARCH
Keywords   go
in