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Tag:

developing world

Designing Climate Finance for the Developing World

Designing Climate Finance for the Developing World

written by Kat Friedrich

Scaling up investment in developing nations to reduce the hardships of climate change poses many challenges. The Organisation for Economic Co-Operation and Development, an international forum for improving social and economic policies, produced a report exploring this urgent situation in May. The report is titled “Scaling up and Replicating Effective Climate Finance Interventions.”

Kat Friedrich, editor of Clean Energy Finance Forum, interviewed Takayoshi Kato, the first author of the report, via email in August. The conversation explored the structural obstacles that make it difficult to expand climate finance in the developing world. It also highlighted strategies for sharing best practices, building self-sustaining programs, and developing adaptable solutions.

CEFF: The research paper says private climate finance can be mobilized by scaling up and replicating small-scale interventions. What are some of the advantages of starting at the local level rather than starting at a higher level?

Kato: One advantage of starting at the local level can be that a local-level intervention can more likely benefit from the knowledge and experience of local stakeholders and financiers as well as interpersonal networks in the area, which in turn could lead to timely and smooth implementation of the intervention.

Also, there are lots of small-scale actions that are economically efficient or have many co-benefits (for example, residential energy efficiency, agriculture, etc.), so this is an opportunity that needs to be tapped.

But you should also note that our paper and some previous studies have found that we should go for programmatic approaches, rather than project approaches, to better align individual climate initiatives with national developing goals in developing countries.

CEFF: What are some of the types of financial instruments that can be effective in helping climate finance interventions expand in developing nations?

Kato: There is no one-size-fits-all financial instrument to help climate finance interventions expand in developing nations.

The instruments or tools which are best suited to specific climate activities vary among different countries, technologies and project types.

For instance, grants can be particularly useful for building capacity and mobilizing financial support for countries with limited institutional capacities or resources.

Concessional loans could improve risk-return profiles of projects with greater risks such as large upfront investment requirements. Other instruments and tools (such as green bonds and equity provision) are better suited for generating interest from the private sector in more financially mature markets.

Importantly, some cases show that projects and programs tend to be more successful if they involve multiple financial instruments (and also multiple actors and policy interventions).

CEFF: What are some enabling environments and supportive institutional structures that facilitate the growth of climate finance interventions?

Kato: We need a variety of actions to enhance enabling environments and institutional capacities in developing countries to better access, manage and use the finance.

We need to work together among different levels of governments, private-sector organizations, and civil society to improve and sequence various policy frameworks such as stable policy goals, regulatory and policy instruments, and monitoring and evaluation frameworks. We also need to align these elements with countries’ national development goals.

It would also be useful to have a feedback loop process to revisit and update policy goals and policy instruments from time to time.

CEFF: What are some of the policy obstacles that can make it difficult for climate finance interventions to expand in developing nations?

Kato: In fact, there are barriers for finance in general such as the need for a stable regulatory environment, the relative maturity of local financial markets, the rule of law in the nation, and limited currency risks.

And on top of that, there are further climate-specific risks. Climate finance interventions could be expanded more in developing countries if they have stable and coherent policies for pricing carbon (and rationalizing subsidies for fossil fuels), develop local financial markets and investment policies to level the playing field for greener investments, and improve accountability.

International cooperation for building such “readiness” is also essential.

CEFF: The report mentions the importance of sharing best practices and performance data across programs. Is this an area in which international collaboration is possible? If so, how might that work?

Kato: It is an encouraging sign that there are a number of forums where negotiators, practitioners and academics can exchange their experiences and views.

Possible international collaboration on sharing best practices could build on such environments. Under the Convention, for example, there are the Forums of the Standing Committee on Finance, the Technical Expert Meetings, and the Durban Forum on capacity building.

There are also many initiatives outside the Convention, such as the Climate Investment Fund partnership forums. Indeed, information provision and sharing is an explicit part of some international climate finance programs, such as the Global Environment Facility and the Climate Investment Funds.

Also, a measuring, reporting and verification system could be enhanced in the post-2020 period so that it could provide decision makers with a wider range of information on effectiveness of the climate finance interventions. Such information would need to be shared internationally.

CEFF: How can organizations determine when climate finance interventions have become self-sustaining?

Kato: It really depends on the types of finance interventions and criteria that those organizations have for determining self-sustainability.

In the simplest sense, self-sustainability might mean the profit level that can cover capital, operational and financial costs.

Also, developing sufficient capacity and accumulating knowledge are essential parts to make interventions self-sustaining once the international financiers or consultants who set them up have gone away.

But many adaptation projects do not have revenue streams, at least in the short term. Even so, some adaptation projects could be self-sustaining, since a government keeps providing funding for those projects as this is recognized as the role of the government in providing public goods.

This article was originally published by Clean Energy Finance Forum, a news website sponsored by Yale University. To subscribe to our newsletter, please fill out our contact form.



October 15, 2014 1 comment
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Have We Reached the Point of “Peak Cars”?

Have We Reached the Point of “Peak Cars”?

written by

We’ve all heard a lot about Peak Oil, the point at which global oil production begins to decline because the accessible supply is simply not as big as it was the year before. Whether it has been passed or is looming in the near future, is still being debated, especially in the light of the recent boom in U.S. production. But it is highly likely that it is imminent, which is, despite the hardship involved, really a good thing, given the carbon emissions entailed, which have not been reason enough for many people, institutions and governments to press for alternatives.

But what about all of those cars and trucks that most of that oil goes into? There are a number of analysts who think that, despite the optimistic sales projections of automakers, we may be approaching the point of peak cars.

Given the fact that more and more people are pouring into cities that are getting more and more crowded, will there come a point where driving a car is simply not the best way to get around? For many, it already has. Here is the US, a significant number of people, particularly young people have relinquished that dream. Based on an analysis by Advisor Perspectives, the percentage of 18-years-olds with driver’s licenses fell from 80 percent in 1983 to 61 percent in 2010. The number of miles driven per person has also downshifted from historic highs by almost nine percent.

Of course, there are many people coming up in the developing world who see car ownership as a rite of entry into the middle class, and emblematic of the American Dream which has spread across the globe through movies and television.

But look at the reality. Take China, for example. As more and more of China’s 1.3 billion people climb out of poverty, they want to climb behind the wheel of a new car, and they are doing just that. Because of China, global car sales have grown by 46% since 2000. And in 2009, China passed the US as the world’s largest market for cars. Last year, Chinese consumers bought 22 million cars compared with 15.6 million in the US, the highest figure in several years. Analysts predict that Chinese car sales will hit the 30 million mark by 2030.

Is there no end, then?

Perhaps there is. China is beginning to experience gridlock and, of course, their terrible air quality has become legendary. The brown haze covering the biggest cities of Shanghai and Beijing have prompted leaders to tighten restrictions on car licensing in order to slow things down.

The times they are already a-changin’. Many municipalities, including Beijing, are upgrading their public transportation systems, even as new cars hit the streets at the rate of 1,000 per day.

In hyper-crowded Mumbai, only 14 percent of all commuting trips are by personal car, while more than half the commuters use passenger trains. The trains carry 7.6 million people each day. Beyond that, 23 percent ride buses and 9 percent use a public taxi or motorized rickshaw.

Back home, car-sharing has burst on the scene with an no-ownership option that many young people are taking advantage of. That really blows smoke in the face of automakers. Consulting firm AlixPartners has studied this trend, and found that car-sharing has already displaced some 500,000 vehicle purchases since 2006. Each car used for car-sharing runs as many as 32 vehicles off the road, so to speak. Indeed some car manufacturers, like Mercedes, are venturing into that business.

Let’s not forget the role that parking plays, especially in big cities. Anyone who has driven in one knows how exasperating and time-consuming it can be to try and find a spot. New technology applications like Smart Parking, which electronically connect drivers with available spots, can save a lot of time, energy and carbon emissions.

But perhaps the ultimate answer will be autonomous, driverless cars for hire. These robotic rickshaws will come and pick you up and drop you off. That means you don’t have to worry about parking or many of the other things drivers get to worry about. Presumably, because they are driverless, they would cost less than taxis. And because they are autonomous, they can synchronize and communicate with cars around them, making them far more time-efficient as they flow along the roads like schools of fish. They should be safer, too. Many companies, including Google, are working on this technology. It will be expensive and it will take awhile, to be sure. But it could work. One study done at MIT found that a mere 300,000 driverless vehicles could serve the entire city of Singapore, with its population of close to six million people, with no more than a 15-minute waiting time.

Will that be the ultimate answer? Or will it be buses, bicycles, electric cars, walking, or something not even thought of yet? Perhaps some combination of all of these, with a few vintage hot rods thrown in for good measure. Will we hit “peak cars” before we hit peak oil, and how will the one affect the other? The only thing I think we can be fairly certain of, is that it’s bound to be a lot different than it is today.

Article by RP Siegel of Justmeans, appearing courtesy 3BL Media.



February 26, 2014 1 comment
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Will Wind for Prosperity Take Off and Provide Investors With a Return?

written by Walter Wang

Launched in November of 2013, Vestas’ Wind for Prosperity program was the subject of a dynamic panel at the World Future Energy Summit during Abu Dhabi Sustainability Week this week.

The Wind for Prosperity program is a commercially based program that aims to deliver a hybrid energy

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January 21, 2014 1 comment
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Solar-Powered System Used to Produce Clean Water in Rural Villages

written by Walter Wang

Clean drinking water is often an overlooked privilege in first world countries. However, in areas such as the rural villages of the Yucatan Peninsula, potable water is at least a day’s drive away and costs more than local residents can afford.

MIT researchers have recognized this problem and

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September 12, 2013 2 comments
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Developing World Will Significantly Contribute to Global Energy Use

written by Walter Wang

According to International Energy Outlook 2013 (IEO2013) which was released this week by the U.S. Energy Information Administration (EIA), world energy consumption is projected to increase by 56 percent over the next three decades!

This projected increase is mainly due to the growth

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July 31, 2013 0 comment
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Nanofilter System Can Deliver Clean Water to Rural Families for $2.50

written by Yale Environment 360

Indian scientists have developed a filter system they say can provide clean water to rural families for less than $2.50 per year and help reduce incidences of diarrhea that cause tens of thousands of deaths in the developing world annually.

Writing in the Proceedings of the National Academy of

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June 5, 2013 0 comment
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Artificial Leaf’s Self Healing Properties Makes it Practical for Use in Remote Regions

written by Yale Environment 360

The so-called “artificial leaf,” a solar cell being developed by MIT and Harvard scientists to produce low-cost electricity, is now capable of “self healing” the damage that occurs during energy production, clearing a hurdle to deploying the device in the developing world, scientists say.

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April 10, 2013 0 comment
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Pay-As-You-Go Solar System Being Tried in Africa

written by Walter Wang

A UK company called Eight19 has announced a solution called IndiGo, a pay-as-you-go, personal electricity system for the developing world. The system combines solar energy and mobile phone technology and allows users to light their homes and charge mobile phones as a service, paid for using

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October 10, 2011 1 comment
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How the Poor May Boost Cleantech

written by Walter Wang

It’s not surprising that a company liked Greenhouse Holdings, which builds eco-friendly infrastructure, would have a thriving California-based operation. But as John Galt, the company’s executive chairman and founder, told Renewable Energy World magazine, the company is not just focusing on wealthy enclaves

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May 19, 2011 0 comment
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Climate Change Inaction is the Real War on the World’s Poor

written by Justmeans

As I described Friday, a representative of Peabody Energy recently said, “We believe that energy poverty is the world’s top priority, putting people first, not climate change.” I’ve already showed in a previous post why statements like this, which try to pit environmental concerns against poverty-reduction goals, are wrong-headed and hypocritical. Right on cue, a newly-released

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December 6, 2010 0 comment
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Looking for Climate Change Leadership? Try Mexico City

written by Justmeans

The largest city in the Western Hemisphere and third-biggest metropolitan area in the world is going to great lengths to clear its air and reduce its contribution to climate change. A few years ago the office of Mayor Marcelo Ebrard first laid out a citywide “Plan Verde”, intended to gradually convert the massive metropolis into an environmental leader. Many clean air

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November 15, 2010 0 comment
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Study Ranks Nations Based on Environmental Impacts

written by Yale Environment 360

Australian researchers have ranked the world’s nations based on their environmental impact using seven key indicators, including forest loss, habitat conversion, greenhouse gas emissions, and species loss.

The top 10 countries in terms of environmental impact are Brazil, the United States, China, Indonesia, Japan, Mexico, India, Russia, Australia, and Peru.

After correlating the ranking with socio-economic variables, the researchers found that total wealth was the most important factor driving environmental impact.

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May 7, 2010 0 comment
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Developing Countries Call for Legally-Binding Carbon Targets

written by Walter Wang

Two separate high-level diplomatic events last week gave more credence to the notion that in the months leading up to the next round of U.N. climate talks in Mexico in December, developing countries are working on building some strategic alliances — strategic alliances structured around the principle that it will be harder to develop without the help of fossil fuels like coal and oil, than it was to develop with them.

If there is ever going to be an international climate treaty that puts limits on the emissions of greenhouse gases like carbon dioxide, developing nations are going to make sure they don’t get the short end of the stick.

Making sure they don’t end up with that deal, the environment ministers of Brazil, South Africa, India and China (BASIC) met in Cape Town over to discuss their approach at upcoming global climate change negotiations. In a joint statement issued by the environment ministers, the BASIC countries said that a legally binding follow-up treaty to the Kyoto protocol should be agreed no later than the U.N. climate summit late 2011 in Cape Town.

The BASIC countries are responsible for about 30 percent of global carbon emissions, but represent a much larger proportion of the world’s population. In some respects, they command more bargaining power than the industrialized countries of the global North.

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May 6, 2010 0 comment
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Can You Patent Life-Saving Nutrition?

written by Walter Wang

In Normandy, France, a company makes a nutritional supplement called Plumpynut that offers the best hope for the world’s starving children.

Invented in 1999 by French pediatric nutritional scientist Andre Briend, who is affiliated with the World Health Organization (WHO), and manufactured under the flagship French company Nutriset, which was formed in 1986 to address the nutritional problems of populations at risk, the product is manufactured under license from the company in several African countries where, in the past five years, it has transformed the treatment of malnourished children.

According to Doctors Without Borders’ chief nutritionist, Dr. Milton Tectonidis, the product is remarkable in that it delivers a mega-burst of essential nutrients like protein, calcium, vitamins and minerals from a sterile, single-serving packet that doesn’t require any refrigeration, cooking, or clean water.

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April 19, 2010 4 comments
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