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Saudi Aramco Joins WB Zero Routine Flaring Initiative (Int'l.)
Saudi Aramco
Date: 2019-11-08
Saudi Aramco reports it is joining Zero Routine Flaring by 2030, a World Bank climate collaboration initiative aimed at minimizing carbon emissions and addressing climate change.

According to the release, as a result of Saudi Aramco's reservoir management best practices, flaring minimization and energy efficiency programs, the Company's 2018 upstream carbon intensity figure is among the lowest globally at 10.2 kilograms of CO2 equivalent per barrel of oil equivalent.

Launched in April 2015, the Zero Routine Flaring by 2030 Initiative brings together more than 80 governments, oil and gas companies, and development institutions from around the world to eliminate routine flaring by 2030. (Source: Saudi Aramco, PR, Asharq AliAwsat, 6 Nov., 2019) Contact: Saudi Aramco, Ahmad A. Al-Saadi, Senior VP, Technical Services, Amin H. Nasser, Acting Pres., CEO, +966 13 872 0115, webmaster2@aramco.com, www.saudiaramco.com

More Low-Carbon Energy News Saudi Aramco ,  Carbon Emissions,  Climate Change,  World Bank,  


$150Mn IFC Fund Supports Ukraine Energy Efficiency (Int'l Report)
International Finance Corporation
Date: 2019-11-01
The International Finance Corporation (IFC), a member of the World Bank, reports it is providing up to $150 million (€134,36 million) to assist sustainable energy investments in Ukraine. The IFC financing initiative follows the launch of a new Ukraine wholesale energy market in July 2019 -- a necessary move to qualify for EU Commission assistance. The energy market launch led to higher electric power costs for Ukraine's large and reportedly inefficient and outdated industrial sector. (Source: IFC, Smart Energy, 31 Oct., 2019)Contact: World Bank International Finance Corporation, Georgina Baker, VP Europe, www.ifc.org

More Low-Carbon Energy News International Finance Corporation ,  Energy Efficiency,  


Manila Hosts First Zero-Carbon Certified Office Bldg (Int'l.)
Zero-Carbon
Date: 2019-10-14
In Manila, ARTHALAND Corp. is reporting its 31-story Century Pacific Tower office building has been accredited as "green and sustainable" with EDGE Zero Carbon certification from International Finance Corp. (IFC), a member of the World Bank Group.

The first in the world, the Arthaland building was recognized for its projected savings of 45 pct in energy consumption, 64 pct in water use, and 34 pct incorporation of embodied energy in materials, surpassing the benchmark of 20 pct less use for each category. The Arthaland building is now the country's only triple-certified project Excellence in Design for Greater Efficiencies (EDGE), LEED Platinum and green building system BERDE five-star ratings since it opened in 2018. (Source: Arthaland, Business Mirror, Oct., 2019) Contact: Arthaland Corp., +63 2 8403 6910, www.arthaland.com.ph; International Finance Corp., www.ifc.org; BERDE, www.berdeonline.org

More Low-Carbon Energy News International Finance Corp.,  


$350Mn Support for Energy Storage Announced (Int'l. Funding)
Climate Investment Fund
Date: 2019-09-27
The World Bank is reporting several European states have committed to bankroll various World Bank clean energy initiatives in support of renewable energy-- energy storage projects in middle-income and developing countries.

The funding comes as part of the Climate Investment Funds Global Energy Storage Program's Energy Storage Partnership aimed at financing 17.5GWh of battery storage by 2025 -- over triple the 4-5GWh installed across all developing countries. The program is expected to support middle-income and developing countries as they increase their use of renewables, improve energy security, grid stability and expand electricity access.

In addition to the UK's £200 million commitment, France and the Netherlands pledged US$55 million and US$44 million respectively for the development of solar in Sub-Saharan Africa.(Source: World Bank, Energy Storage, 24 Sept., 2019)Contact: Climate Investment Fund, www.climateinvestmentfunds.org

More Low-Carbon Energy News Solar,  Energy Storage,  Climate Investment Fund,  


IFC's 1st Canadian Green Bond Raises $750Mn (Ind. Report)
International Finance Corporation
Date: 2019-09-09
The World Bank's International Finance Corporation (IFC) is reporting issuance of its first Canadian dollar green bond raised $750 million (Cdn) ($569 million US) for climate-smart business.

The proceeds of the five-year green bond will finance IFC low-carbon investments in green projects, including renewable energy, green buildings, sustainable forestry, and energy efficiency. Approximately half of the investments were from Canadian interests Canadian, followed by Asian (26 pct), EMEA (16 pct) and the Americas (8 pct). IFC issued it firs Green Bond its first issuance in 2010. (Source: IFC, Saur Energy, 7 Sept., 2019) Contact: World Bank International Finance Corporation, www.ifc.org

More Low-Carbon Energy News International Finance Corporation,  Green Bond,  Low-Carbon Energy,  


EU Earmarks €100Mn for Ukraine Energy Efficiency (Int'l.)
European Energy Efficiency Fund
Date: 2019-09-06
In Kiev, Ukrinform, the Ukrainian new agency is reporting the European Union (EU) has allocated €80 million ($88.2 million U.S.) under the European Energy Efficiency Fund (EEEF) to support a Ukrainian energy modernization program. The EU also added another €20 million ($22 million U.S.) for technical assistance in the implementation of the program.

In July, the EU-backed EEEF has signed an agreement with the International Finance Corporation, a member of the World Bank Group, under which the partners will allocate $235 million to upgrade Ukraine's energy efficiency for some 6,000 homes over a four-year period. (Source: Ukrinform, Xinhua, 5 Sept., 2019) Contact: European Energy Efficiency Fund, www.eeef.eu

More Low-Carbon Energy News Energy Efficiency Funding,  


IFC, Bank Windhoek Introduce Green Building Software (Int'l.)
International Finance Corporation
Date: 2019-08-21
In Namibia, Bank Windhoek and the World Bank's International Finance Corporation (IFC) are reporting the joint introduction free to use Excellence in Design for Greater Efficiencies (EDGE) green building certification system for emerging markets.

Developed and created by the IFC, EDGE is a measurable way for builders to optimize their designs, leading to a more investment-worthy and marketable product. EDGE helps project design teams and owners identify and assess the most cost-effective ways to incorporate energy and water saving options into nuilding projects.

In December 2018, Bank Winhoek and IFC collaborated to develop the Bank's Green Bond Framework for the Green Bond. The Bank obtained additional sources of funding for its green lending activities by raising funds in the debt market through a local Green Bond issuance, of which the proceeds will be used solely to finance eligible green projects and assets throughout Namibia. (Source: IFC, Bank Windhoek, New Era, 20 Aug., 2019) Contact: Bank Windhoek, www.bankwindhoek.com.na; World Bank International Finance Corporation, www.ifc.org

More Low-Carbon Energy News International Finance Corporation ,  


Vietnam Cement Producers Prepare for Carbon Tax Pilot (Int'l.)
Carbon Tax
Date: 2019-08-09
In Hanoi, the Vietnam Ministry of Agriculture and Rural Development is reporting the planned 2020 launch of a one-year carbon tax pilot program that will affect 11 cement and 9 power production plants across the country.

Under the scheme, cement producers and traders will be charged US$0.09/t of clinker, equivalent to US1.35/t of CO2. The tax is lower than the World Bank's Forest Carbon Partnership Facility pledge to pay for emission reduction efforts in North Central Region of US$5/t of CO2. The provinces running the tariff are expected to generate around US$7.4 million per year. (Source: Vietnam News Agency Bulletin, Global Cement News, 4 Aug., 2019)

More Low-Carbon Energy News Cement,  Carbon Tax,  


Costa Rica Borrows $35Mn for Green Energy Projects (Funding)
World Bank Group International Finance Corporation
Date: 2019-07-24
The World Bank Group International Finance Corporation (IFC) is reporting a S$ 35 million loan to support and incentivise the issuance of a green bond by Davivienda Costa Rica, the third largest private bank in Costa Rica. The loan will contribute to the funding sustainable buildings, energy efficiency and small-scale renewable energy generation and bioenergy projects under the "green lending standards" as set out by the Zurich-headquartered International Capital Markets Association. (Source: World Bank Group International Finance Corporation, July, 2019) Contact: World Bank Group, www.worldbank.org; World Bank Group International Finance Corporation, www.ifc.org; International Capital Markets Association, www.icmagroup.org

More Low-Carbon Energy News World Bank,  Green Energy,  


Ghana, World Bank Deal to Cut Deforestation, CO2 Emissions (Int'l)
World Bank
Date: 2019-07-15
In Accra, the World Bank (WB) has announced an agreement with the Ghana Forestry Commission to address the role of deforestation and forest degradation on climate change. Under the agreement, the World Bank five-year Emission Reductions Payment Agreement (ERPA) will reward community efforts to reduce carbon emissions from deforestation and forest degradation. Ghana is the third country to initiate the deal.

The Emission Reductions Payment Agreement (ERPA) with the Forest Carbon Partnership Facility (FCPF) carbon fund, is administered by the World Bank and unlocks unlocks performance-based payments of up to $50 million for carbon emission reductions from the forest and land use sectors.

Under the ERPA, the FCPF carbon fund commits to making initial results-based payments for reductions of 10 million tonnes of CO2 emissions. The agreement also specifies on carbon emission baselines, price per ton of avoided CO2 emissions, and a benefit-sharing mechanism. Ghana's emission reductions programme area covers 1.2 million hectares of forest reserves and national parks.

In Ghana, forest degradation and deforestation are driven primarily by cocoa farm expansion, coupled with logging and a recent increase in illegal mining. (Source: World Bank, Ghana News Agency, 10 July, 2019) Contact: Ghana Forestry Commission, Kwadwo Owusu Afriyie, CEO, +233 30 240 1210, www.fcghana.org; World Bank Group, www.worldbank.org

More Low-Carbon Energy News World Bank,  Climate Change,  Carbon Emissions,  Deforestation,  


WB Supports Sri Lankan Climate Preparedness, Resilience (Int'l)
World Bank
Date: 2019-06-28
As part of its Climate Resilience Multi-Phase Programmatic Approach Project, the World Bank (WB) reports approval of $310 million in loan funding to reduce and mitigate flood risks and improve weather forecasting and early warning systems across the Bay of Bengal island nation of Sri Lanka. The loan, through the International Bank for Reconstruction and Development, is the first of a three-phase investment program totaling $774 million over 8 years.

In 2017, Sri Lanka ranked second among countries most affected by extreme weather events -- extreme temperatures, flooding and drought -- and is expected to see a 1.2 pct drop in annual GDP by 2050 due to climate change. The Program is designed with flexibility for adaptive learning and the potential for private sector participation. (Source: World Bank, Modern Diplomacy, 27 June, 2019) Contact: World Bank Group, www.worldbank.org

More Low-Carbon Energy News World Bank,  Climate Resilience,  Climate Change Mitigation,  


MDB Climate Finance Hits Record $43.1Bn in 2018 (Ind. Report)
Climate Change,World Bank
Date: 2019-06-28
According to the 2018 Joint Report on Multilateral Development Banks' Climate Finance, climate financing by the world's largest multilateral development banks (MDBs) in developing countries and emerging economies rose to a high of $43.1 billion in 2018, boosting projects that help developing countries cut emissions and address climate risks -- an over 22 pct increase from 2017 where climate finance totaled $35.2 billion.

The report notes that $30.2 billion (70 pct) of the 2018 total was devoted to climate change mitigation investments that aim to reduce harmful greenhouse gas emissions and slow down global warming. The remaining $12.9 billion (30 pct) was invested in climate change adaptation efforts to help address mounting impacts of climate change, including worsening droughts and more extreme weather events from extreme flooding to rising sea levels.

Since 2011, the six MDBS have committed nearly $237 billion in climate finance for developing and emerging economies. MDBs' climate finance aims to ensure that global financial flows are consistent with the Paris Climate Agreement.(Source: World Bank, Modern Diplomacy, June, 2019) Contact: World Bank Group, Mehreen Sheikh, (202) 458-7336, msheikh1@worldbank.org, www.worldbank.org

More Low-Carbon Energy News Climate Change,  Climate Change Mitigation,  Climate Finance,  


New Credit Card Limits Climate Impact (Ind. Report)
UNFCCC
Date: 2019-06-03
Swedish financial company Doconnomy is touting a new credit card that allows consumers to track and offset the emissions related their purchases.

The card uses the Aland Index to quantify consumers' carbon footprint and compute offset costs using the World Bank's carbon price. Consumers can use the data supplied to either reduce their carbon footprint through behavior change, or to buy offset credits from UN-certified projects that reduce, avoid or remove GHG emissions.

Users can also directly compensate for their GHG emissions, through projects meeting the criteria of UN-certified green projects. To identify the carbon dioxide (CO2) impact of each transaction, the Do card uses the Aland Index, developed in 2017 by Bank of Aland in Finland.

Partnering with the Framework Convention on Climate Change (UNFCCC), the initiative encourages users to compensate their carbon footprints in UN-certified projects that reduce, avoid or remove GHG emissions. The projects are implemented in developing countries and are rewarded with Certified Emission Reductions (CERs) as well as Gold Standard. Ranging from cleaner-burning cook stoves to wind-generated electricity and clean waste disposal, all projects contribute to global emissions reductionsA savings product by the company offers an interest rate that includes investment in climate-friendly projects. (Source: UNFCCC Press Release, 30 April, 2019) Contact: UNFCCC, www.unfccc.int

More Low-Carbon Energy News Carbon Emissions,  Climate Change,  UFCCC,  


World Bank Launches Energy Storage Partnership (Int'l Report)
World Bank
Date: 2019-05-29
The World Bank is reporting the establishment of a new international partnership to help expand the deployment of energy storage and bring new technologies to developing countries' power systems.

The Energy Storage Partnership (ESP) comprises the World Bank Group and 29 organizations working together to help develop energy storage solutions tailored to the needs of developing countries whose grids are not yet fully considered in the current energy storage market -- even though these countries may have the largest potential for battery deployment.

There is a clear need to catalyze a new market for batteries and other energy storage solutions that are suitable for electricity grids for a variety of grid and off-grid applications and deployable on a large scale.

The Energy Storage Partnership (ESP) is intended to foster international cooperation on: technology and R&D; system integration and planning tools; policies, regulations and procurement; and enabling systems for management and sustainability. By connecting stakeholders and sharing international experiences in deploying energy storage solutions, the ESP's holistic approach will help bring new technological and regulatory solutions to developing countries, help develop new business models and help expand the global market for energy storage.

The ESP will complement the WBG's $1 billion battery storage investment program announced in September 2018 to significantly scale up support to battery storage projects and raise an additional $1 billion in concessional finance. (Source: World Bank, PR, 28 May, 2019) Contact: World Bank Group, Riccardo Puliti, Senior Director and Head of the Energy and Extractives Global Practice, www.worldbank.org

More Low-Carbon Energy News World Bank,  Energy Storage,  


World Bank Fund to Support Climate-Smart Mining (Ind. Report)
World Bank Group
Date: 2019-05-06
The World Bank is reporting the launch of the Climate-Smart Mining Facility fund to support the sustainable extraction and processing of minerals and metals used in clean energy technologies, such as wind, solar power, batteries for energy storage and electric vehicles. The new Facility focuses on helping resource-rich developing countries benefit from the increasing demand for minerals and metals, while ensuring the mining sector is managed in a way that minimizes the environmental and climate footprint.

Facility partners include the German government and private sector companies, Rio Tinto and Anglo American. The Facility will also assist governments to build a robust policy, regulatory and legal framework that promotes climate-smart mining and creates an enabling environment for private capital. Facility projects may include:

  • Supporting the integration of renewable energy into mining operations, given that the mining sector accounts for up to 11 percent of global energy use and that mining operations in remote areas often rely on diesel or coal;
  • Supporting the strategic use of geological data for a better understanding of “strategic mineral” endowments;
  • Forest-smart mining -- preventing deforestation and supporting sustainable land-use practices; repurposing mine sites;
  • Recycling of minerals -- supporting developing countries to take a circular economy approach and reuse minerals in a way that respects the environment

    The World Bank is targeting a total investment of $50 million, to be deployed over a 5-year timeframe. The Facility will focus on activities around four core themes: climate change mitigation; climate change adaptation; reducing material impacts and creating market opportunities, contributing to the decarbonization and reduction of material impacts along the supply chain of critical minerals needed for clean energy technologies. (Source: World Bank Group, Modern Diplomacy, May, 2019) Contact: World Bank Group, Riccardo Puliti, Senior Director and Head of the Energy and Extractives Global Practice, www.worldbank.org

    More Low-Carbon Energy News World Bank,  Climate Smart,  Climate Change,  Carbon Emissions,  


  • World Bank Earmarks $22.5Bn for African Climate Efforts (Int'l)
    World Bank Group
    Date: 2019-03-15
    The World Bank Group reports it will scale up support for both climate adaptation and climate mitigation initiatives in Africa to $22.5 billion over five years -- 2021-2025. The funding is part of the Bank Group's 2025 Targets to Step Up Climate Action, launched in December 2018 during the UN's COP24 in Poland.

    The funding is aimed at helping African countries manage the risks of a changing climate while unlocking new investment opportunities. The IFC and MIGA, the Group's private sector arms, will also grow their climate activities in Africa.

    More than half of the $22.5bn financing will be devoted to supporting adaptation and resilience in Africa. This year, for example, the World Bank will provide the government of Ethiopia with a results-based support program for adaptation and resilience, the largest done by the World Bank ever in Africa. The new operation, which is currently under preparation, will provide $500 million for results in improved watershed management and land administration systems.

    In addition, the World Bank, will carry out intensive Nationally Determined Contributions (NDC) engagements with Rwanda and Kenya, under the framework of the NDC Partnership, and with generous support from Germany's BMZ. The engagements will help accelerate the implementation of, and raise the level of ambition for, their NDCs by supporting systematic mainstreaming and institutionalization of climate adaptation and mitigation across and within key development sectors and governance levels. (Source: World Bank Group, africanews.com, 14 Mar., 2019) Contact: World Bank Group, www.worldbank.org

    More Low-Carbon Energy News World Bank Group,  Climate Change Mitigation,  Climate Change adaptation,  


    Green Bond Raises $410Mn for Asian Low Carbon Projects (Int'l)
    AC Energy,Ayala
    Date: 2019-02-11
    In the Philippines, AC Energy, the energy platform of one of the largest conglomerates located in the Philippines, Ayala Corporation, reports it raised $410 million (US) in its first Climate Bond Initiative listed on the Singapore Exchange. The International Finance Corporation (IFC), a member of the World Bank Group, provided an anchor investment of $75 million to complete the public placement of the bonds. AC Energy added a private placement of $110 million in climate bonds for 10 years and the Asian Development Bank (ADB) invested $20 million in the transaction, which is paying a coupon of 5.25 pct.

    Proceeds from the bond offering are earmarked for AC Energy's low-carbon energy projects in the Asia-Pacific region. The bonds received pre-issuance certification as climate bonds under the Climate Bonds Standard (CBS). (Source: AC Energy, Asset ESG Forum, 10 Feb., 2019) Contact: AC Energy , Eric Francia, Pres., CEO, www.acenergy.com.ph; Ayala, www.ayala.com.ph/ac-energy

    More Low-Carbon Energy News Ayala,  AC Energy,  Climate Change,  Green Bond,  Renewable Energy,  


    BIOD India Touting Biodiesel to Check Pollution (Int'l)

    Date: 2019-01-07
    Indian waste management company BIOD Energy Pvt. reports it is developing a 100 tpd waste cooking oil IS15607 or its equivalent European EN14214 standard biodiesel plant in the industrial town of Bawal, Haryana.

    According to the World Bank, India generates more than 150,000 tpd of municipal solid waste (MSW), 83 pct of which is collected and less than 30 pct is treated. The country's daily waste generation is projected to reach 377,000 tpd by 2025.

    The Indian government's Biofuel Policy of India 2018, stresses the future role of biofuels in addressing pollution and envisages a 20 pct biofuel and gadcia, Tech Panda, Jan., 2019) Contact: BIOD Energy India, Shiva Vig, CEO and Director, +91 11 4728 9966, /+91 11 4728 9900, info@biodenergy.in, www.biodenergy.in


    India's EESL Raised $800 Mn for Energy Efficiency Services (Int'l)
    Energy Efficiency Services Ltd
    Date: 2019-01-02
    In New Delhi, Indian state owned Energy Efficiency Services Ltd (EESL) reports it has raised its first long-term rupee loan of Rs 500 crore (1 crore = $160,000/- 500 crores = $800,000,000) from the government owned Punjab National Bank (PNB). The funds will be earmarked for EESL's national energy efficient street lighting programme, smart meter programme, solar substation and e-mobility projects, according to a press statement.

    In other recent EESL news, in March, 2018, the company's UK subsidiary EnergyPro Assets acquired British power generation solutions provider Edina UK Ltd for £55 million (Rs 493 crore). In May, 2018, EESL received a $300 million loan from the World Bank for residential and public sector energy efficiency projects. (Source: EESL, IANS, 1 Jan., 2018) Contact: Punjab National Bank, www.pnbindia.in; Energy Efficiency Services Ltd., Saurabh Kumar, Managing Director, www.eeslindia.org

    More Low-Carbon Energy News Energy Efficiency Services Ltd,  


    World Bank Earmarks $200Bn for Climate Change Fight (Int'l)
    World Bank
    Date: 2018-12-05
    The World Bank has announced its investment of $200 billion over 5 yrs to fund the fight against climate change. The funding is for a new set of climate targets for 2021-25.

    The $200 billion across the Group is comprised of approximately $100 billion in direct finance from the World Bank, and approximately $100 billion of combined direct finance from the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) and private capital mobilized by the World Bank Group. (Source: World Bank, Various Media, Climate Action, 4 Dec., 2018)Contact: World Bank Group, www.worldbank.org

    More Low-Carbon Energy News World Bank,  Climate Change,  


    ADB Commits $13Mn to Indian Energy Efficiency Fund (Int'l)
    Asian Development Bank,Energy Efficiency Services
    Date: 2018-11-12
    In the Sub-Continent, the Asian Development Bank (ADB) reports it will grant $13 million to Indian government-owned Energy Efficiency Services Ltd (EESL) to establish an energy efficiency revolving fund (EERF) to expand and sustain investments in the energy efficiency market in India, build market diversification, and scale up existing technologies.

    According to the World Bank’s Country Director for India, Junaid Ahmad , energy efficiency is one of the “strategic pillars” of the bank’s engagement in India. (Source: World Bank, PR, IANS, 11 Nov., 2018) Contact: Asian Development Bank, +63 2 632 4444, www.adb.org; Energy Efficiency Services (India), www.eeslindia.org

    More Low-Carbon Energy News Asian Development Bank,  Energy Efficiency Services,  


    $16Mn WB Supports Belarus Energy Efficiency, Saving Projects (Int'l)
    World Bank
    Date: 2018-11-12
    In Minsk, Belarus News reports the World Bank will grant Belarus an additional $160 million loan to implement energy conservation projects. The country's Standardization of the Republic of Belarus Department for Energy Efficiency notes that “Work is underway to raise additional financing to the tune of $160 million."

    The World Bank loan will be used to build facilities running on local fuel and to improve energy saving and efficiency in apartment houses." (Source: Belrus News, 9 Nov., 2018)

    More Low-Carbon Energy News World Bank,  Energy Conservation,  


    Jordanian Wind Farm Finds $71Mn Financing (Int'l)
    International Finance Corporation
    Date: 2018-11-09
    The World Bank's International Finance Corporation (IFC) reports approval of a$71 million financing package for the construction of a new 51-MW wind power plant in Tafileh, southwest of Amman, Jordan.

    The $103 million project is being developed by KOSPO and Daelim Energy, both of Korea.

    IFC is providing a $10 million loan for its own account and also acted as lead arranger, mobilizing parallel loans of $26 million from Managed Co-Lending Portfolio Programme, $27.7 million from the Standard Chartered Bank and $8 million from Korea's Shinhan Bank. The IFC also structured an equity bridge loan of $26 million. (Source: International Finance Corporation, Daehan Wind Power Company, Jordan Times, 7 Nov., 2018) Contact: IFC, (202) 473-1000, www.ifc.org; Daehan Wind Power Company, www.daelimenergy.com

    More Low-Carbon Energy News Wind,  International Finance Corporation ,  


    Carbon Tax Possible with Incoming Midterm Congress? (Ind. Report)
    Carbon Tax
    Date: 2018-11-05
    Canada's CBC Radio is reporting a U.S carbon tax is on the agenda of a bipipartisan, incoming House of Representatives caucus, despite President Donald Trump's claim that climate change was just a "hoax" perpetrated by the Chinese as a competitive economics edge.

    "There's a consensus growing in the House of Representatives that could lead to a price on carbon emissions. I think we'll be able to have a bipartisan piece of legislation that puts a price on carbon," the House Climate Solutions Caucus co-chair Florida Democrat Ted Deutch, told CBC Radio. Deutch added he expects every option will be considered to move forward on fighting climate change.

    The U.S. produced 16.49 tonnes of carbon emissions per capita, while Canada produced 15.12 tonnes in 2014, according to World Bank data. (Source: CBC Radio, 3 Nov., 2018) Contact: Florida Congressman Ted Deutch, 202-225-3001, www.teddeutch.house.gov

    More Low-Carbon Energy News Carbon Tax,  U.S. Carbon Tax,  


    Denmark, Ethiopia Expanding Wind Energy Cooperation (Int'l)
    Danish Energy Agency
    Date: 2018-10-24
    In Denmark, the Danish Energy Agency reports it will add 7 million DDK to its financial support for the 2017, Danish-Ethiopian Accelerating Wind Power Generation partnership programme in Ethiopia.

    The Danish support specifically provides wind measurements and the expertise of the Danish Energy Agency concerning public procurement of wind-farms, and cost-efficient expansion of wind energy. The Ethiopian programme will be cooperatively administered by the Royal Danish Embassy in Addis Ababa, the Danish Energy Agency, Danish system operator Energinet.dk, the World Bank and relevant Ethiopian counterparts. With this new agreement, the pprogram will run until the end of 2020 with a total budget of 35 million DKK. (Source: Danish Energy Agency, reve, October 19, 2018) Contact: Danish Energy Agency, +45 33 92 67 00, https://ens.dk/en

    More Low-Carbon Energy News Wind,  Danish Energy Agency,  


    $30Mn Committed to Nigerian Cassava Ethanol Project (Int'l.)
    Nigeria
    Date: 2018-10-24
    In the Nigerian capital city of Akure, the Nigerian federal government reports it has earmarked $30 million for an existing Cassava Ethanol Project at Okeluse in Ondo State.

    The project, which is expected to break ground next month, was planned and then abandoned under a previous administration. The project will be constructed on 15,000 hectares near a Nigeria National Petroleum Corporation (NNPC) facility. The World Bank supports the project. (Source: This Day, Various Media, 23 Oct., 2018)

    More Low-Carbon Energy News Cassava Ethanol,  Ethanol,  Biofuel,  


    IFC Komodo Green Bond Raises $134Mn for Climate Investments (Int'l)
    International Finance Corporation
    Date: 2018-10-10
    International Finance Corporation (IFC), a member of the World Bank Group, reports issuance of its inaugural Indonesian rupiah Komodo Green Bond which raised Rp 2 trillion (US$134 million) to support climate friendly Indonesian projects to combat climate change.

    The five-year green bond, which will be listed on both the London Stock Exchange and the Singapore Stock Exchange, will support the local-currency market in Indonesia, funding the first-ever green bond issued in Indonesia by an IFC client, Bank OCBC NISP. The proceeds will finance underlying infrastructure and climate-related projects.

    According to the IFC's just released Green Bond Impact Report, IFC issued 32 green bonds totaling $1.8 billion in the fiscal year that ended June 30. (Source: Jakarta Post, IFC, 8 Oct., 2018) Contact: IFC, Nena Stoiljkovic, VP Asia and the Pacific, (202) 473-1000, www.ifc.org

    More Low-Carbon Energy News International Finance Corporation,  Climate Change,  Green Bond,  


    UK Adds $73Mn to $500Mn S. African Energy Storage Project (Int'l)
    UK,Energy Storage
    Date: 2018-08-31
    In London, the UK Gov't of Prime Minister Thersa May reports it will contribute £56 million ($73 million) to a South African energy storage fund totaling $500 million aimed at securing renewable power in South Africa by developing battery technology to store energy.

    The UK contribution will come through the Clean Technology Fund, which provides funding for clean technology projects in developing countries with a focus on developing low-carbon solutions and eliminating greenhouse gas emissions.

    The UK is the largest contributor to the global fund, followed by the US and Japan. The storage project is being developed by the World Bank, the African Development Bank and the South African government. (Source: Various Media, Energy Digital, 30 Aug., 2018)

    More Low-Carbon Energy News Energy Storage,  Renewable Energy,  Battery,  


    Caribbean Climate-Smart Accelerator Announced (Int'l. Report)
    Caribbean Climate-Smart Accelerator
    Date: 2018-08-17
    The recently launched Caribbean Climate-Smart Accelerator reports the following Caribbean regin nations have joined its ranks: Grenada, St. Lucia, Dominica, Jamaica, Montserrat, Turks and Caicos, St. Kitts & Nevis, Antigua & Barbuda, US Virgin Islands, Anguilla, British Virgin Islands, Belize, Barbados, Bahamas, Guyana, Suriname, Costa Rica, Dominican Republic, Aruba, Curacao, Bonaire, St Vincent & The Grenadines, Panama, Haiti, Mexico, and Honduras. Additionally, more than 40 public and private sector organizations and prominent individuals such as Bill Gates of Microsoft, the Clinton Foundation, Airbnb, Tesla, Sir Richard Branson's The Virgin Group, and others are also onboard.

    The Accelerator aims to make the Caribbean the world's first climate-smart zone that will include the implementation of solutions for resilience, renewable energy, development of sustainable cities, oceans, and transportation.

    The InterAmerican Development Bank (IDB) has committed $3 million in start-up funding plus $1 billion to support innovative solutions focused on low-carbon emissions, sustainable infrastructure, and energy efficiency projects. The World Bank Group has committed $1 million annually for 3 years in in-kind services, in addition to its existing support for the region which adds up to almost $2 billion in projects aimed at strengthening resilience and financial protection against climate disasters. (Source: Caribbean Climate-Smart Accelerator, CleanTechnica, 14 Aug., 2018) Contact: Caribbean Climate-Smart Accelerator, www.caribbeanaccelerator.org

    More Low-Carbon Energy News Caribbean Climate-Smart Accelerator ,  


    Singapore Study to Shape Future Carbon Tax (Int'l Report)
    Singapore Carbon Tax
    Date: 2018-08-15
    In Singapore, the Straits Times is reporting a Climate Change Secretariat commissioned study of the impact and effectiveness of carbon pricing will be used to shape how a carbon tax is implemented here in future.

    Set to be completed by August 2019, the study will seek to quantify the costs that greenhouse gas-producing firms bear in different jurisdictions, as well as the effectiveness of various measures in reducing carbon emissions. Consultants will look at direct costs from carbon taxes or emissions trading schemes and indirect costs from compliance.

    Singapore will start pricing carbon at $5 per tonne of emissions from next year to 2023 then likely to raised to between $10 and $15 per tonne by 2030. The tax will be levied on approximately 30 to 40 large emitters that produce more than 25,000 tpy of emissions. This is likely to affect around that are responsible for 80 pct of Singapore's greenhouse gas emissions. The World Bank notes the global average per ton of carbon emissions is US$21.50. (Source: Singapre Strait Times, 13 Aug., 2018)Contact: World Bank Carbon Pricing Dashboard ; Climate Change Secretariat, www.nccs.gov.sg

    More Low-Carbon Energy News Singapore Carbon Tax,  Carbon Tax,  


    Cal. Pledges "Green" Financing in Climate Change Fight (Ind. Report)
    Green Bond, Climate Change
    Date: 2018-08-10
    In Sacramento, California Treasurer John Chiang reports his office has signed on to the Green Bond Pledge committing the Golden State to fight climate change through a strategy using green financing. The Green Bond Pledge is a declaration with broad and far-reaching impact, under which states and cities nationwide are being urged to commit to a strategy that will finance infrastructure and capital projects that meet the challenges of climate change with "green bonds," or green financing.

    Green Bond pledge adherents agree that climate change poses an existential threat and that the rapid growth of a green bonds market will not only meet the unique challenges the world faces, but will do so while making communities more economically competitive, prosperous, and productive.

    Green bonds may be sold by governments, as well as by private entities, to finance projects that have positive environmental or climate attributes. The projects can range from clean transportation to renewable energy.

    The green bond market started in 2007 with bonds issued by the World Bank and the European Investment Bank. By 2017, both California and New York had issued more than $4 billion in bonds to finance such things as clean water projects, green schools, mass transit, land preservation, and green housing. The state is now looking to build on that start and help grow a much more robust market for green bond financing.

    Download a copy of the Green Bonds Pledge and other details HERE. (Source: California Treasurers Office, Lake County News, Aug., 2018) Contact: California Treasurers Office, (916) 653-2995, www.treasurer.ca.gov

    More Low-Carbon Energy News Green Bond,  Climate Change,  


    Namibia Scores GEF Climate Mitigation, Environmental Funds (Int'l)
    Global Environment Facility
    Date: 2018-07-20
    In the Namibian capital city of Windhoek, the Ministry of Environment is reporting receipt of NAD $186.5 million from the World Bank Global Environment Facility (GEF). Of the total NAD $186.5 million, NAD $13.44 million will be spent on climate change mitigation while NAD $84 million will be for biodiversity management and NAD $88.9 million towards combating land degradation, according to the Ministry statement. ($1,000,000 NAD = $74,017.26 US) (Source: Namibia Ministry of Environment, Nampa, 19 July, 2018) Contact: World Bank Global Environment Facility, www.thegef.org

    More Low-Carbon Energy News Global Environment FacilityClimate Change,  Climate Change Mitigation,  


    Increased Climate Finance Aids Caribbean Countries (Int'l)
    IDB
    Date: 2018-06-27
    According to the Washington-based Inter-American Development Bank (IDB), a financing increase of more than 20 pct to a seven-year high of $35.2 billion from the previous year by the world's six largest multilateral development banks (MDBs) has boosted projects that help the Caribbean and other developing countries cut emissions and address climate risks.

    The MDBs' latest joint report on climate financing said $27.9 billion -- 79 pct of the 2017 total -- was devoted to climate mitigation projects that aim to reduce harmful emissions and slow down global warming. The remaining 21 pct or $7.4 billion of financing for emerging and developing nations was invested in climate adaptation projects. In 2016, total MDB climate financing totaled US$27.4 billion.

    The MDBs, which include the African Development Bank , the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank , the Inter-American Development Bank Group (IDB and IDB Invest) and the World Bank Group (World Bank, IFC and MIGA), account for the vast majority of multilateral development finance. (Source: IDB, Caribbean Life, 23 June, 2018) Contact: IDB, Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org

    More Low-Carbon Energy News IDB,  Climate Change,  Climate Change Mitigation,  Climate Finance,  


    MD Banks' Climate Finance Climbs to $35.2bn in 2017 (Int'l Report)
    World Bank
    Date: 2018-06-20
    According to the recent joint report on climate finance, climate financing by the world's six largest Multilateral Development Banks (MDBs) rose to $35.2 billion in 2017 -- a 28 pct jump over 2016. $27.9 billion of the 2017 total was earmarked for climate mitigation projects that aim to reduce emissions and slow down global warming in line with the objectives of the Paris Agreement.

    Of the total, $7.4 billion financing for emerging and developing nations was invested in climate adaptation projects that help economies deal with the effects of climate change -- unusual levels of rain, worsening droughts and extreme weather events.

    Of the 2017 total, 81 pct was provided as loans and other financial instruments such as policy-based lending, grants, guarantees, equity and lines of credit. Latin America, Sub-Saharan Africa and East Asia and the Pacific were the three major developing regions receiving the funds. The report contains a breakdown of climate finance by country.

    Multilateral banks began publishing their climate investment in developing countries and emerging economies jointly in 2011, and in 2015 MDBs and the International Development Finance Club agreed joint principles for tracking climate adaptation and mitigation finance. (Source: World Bank, New Telegram, 19 June, 2018) Contact: World Bank, John Roome, (202) 473-3373, www.worldbank.org/en/about/people/j/john-roome

    More Low-Carbon Energy News World Bank,  Climate Change,  Climate Change Mitigation,  Climate Finance,  


    World Bank State and Trends of Carbon Pricing 2018 - World Bank Report Attached (Ind. Report)
    World Bank
    Date: 2018-06-06
    "Since it was first launched more than a decade ago, the annual State and Trends report has established itself as perhaps the most important reference document -- first on carbon markets and, later, on carbon pricing more broadly -- by providing up-to-date information on developments in initiatives and policies around the world. Previous editions also included analytical discussions on issues that related to these developments.

    "The 2018 edition of the report focuses exclusively on data and information on the evolving initiatives that put a price on carbon, in terms of their most current status and emerging trends. It includes an expanded discussion on what the trends are telling us about the underlying motivations of and the direction the world is moving in when it comes to carbon pricing.

    "The growing momentum for carbon pricing and the increasing prevalence of the topic in climate change discussions in recent years take us in a new direction for the report. More national and sub-national jurisdictions and private sector entities are adopting carbon pricing.

    "This report also includes a reflection on the engagement of non-state actors on climate action and carbon pricing -- a development that characterizes the implementation phase the world has embarked on since the adoption of the Paris Agreement. The inclusion of internal carbon prices in business operations, and how this is incentivizing action on climate change, has raised the need to expand the focus to include an important discussion on how carbon pricing is considered in other economies and the indirect measures taken to provide a carbon price signal."

    Download the World Bank Group State and Trends of Carbon Pricing 2018 report at www.openknowledge.worldbank.org/handle/10986/29687.

    Download an online dashboard to complement the publication HERE. (Source: World Bank Group, May, 2018)Contact: World Bank Group, www.worldbank.org

    More Low-Carbon Energy News World Bank,  Carbon Price,  


    Global Carbon Market Up 56 pct, says World Bank (Ind. Report)
    World Bank
    Date: 2018-05-25
    According to a new World Bank report, the global value of carbon pricing schemes has jumped by 56 pct over 2016 to an estimated value of $82 billion. The increase follows the opening of new markets, including China, Chile, Colombia, and the Canadian provinces of Alberta and Ontario.

    The report notes there are currently 51 carbon pricing initiatives around the world, consisting of 25 emissions trading schemes and 26 carbon taxes. These initiatives cover 20 pct of all global greenhouse gas emissions. The World Bank estimates that receipts from carbon pricing now amount to $33 billion -- a 50 percent increase on the previous year. (Source: World Bank, Climate Action, Other 22 May, 2018) Contact: World Bank, Marcene Broadwater Global Head, Strategy and Business Development, (202) 473-1000, mbroadwater@ifc.org; John Roome, Senior Director for Climate Change, www.ifc.org

    More Low-Carbon Energy News World Bank,  Carbon Emissions,  Carbon Market,  


    World Bank Supporting Indian Energy Efficiency (Int'l)
    World Bank
    Date: 2018-05-25
    The World Bank reports it has approved $300 million of funding to help scale up India's national energy efficiency programme. The Energy Efficiency Services India (EESI) organization will use the money to drive the deployment of energy saving measures in both the residential and public sectors and enhance access to commercial financing.

    EESI aims to improve energy efficiency, cut energy consumption and help the country hit its goal of reducing carbon intensity by up to 35 pct by 2030 from 2005 levels The money will be used to create sustainable markets for LED lights and energy efficient ceiling fans, facilitate investments in public street lighting and develop sustainable business models for emerging markets such as efficient air conditioning and agricultural water pumping units. (Source: World Bank, Energy Live, 24 May, 2018) Contact: Energy Efficiency Services India, Saurabh Kumar, Managing Dir., www.eeslindia.org

    More Low-Carbon Energy News Energy Efficiency Services Limited,  India Energy Efficiency,  Energy Efficiency,  World Bank,  


    Global CO2 Emissions Pricing Schemes Worth $82Bn, says World Bank Report (Int'l. Report)
    World Bank
    Date: 2018-05-23
    In a just released report, the World Bank pegs the value of global schemes to put a price on carbon dioxide (CO2) emissions and designed to reduce greenhouse gases blamed for global warming at $82 billion, as compared to $52 billion in 2017. The report estimates that 25 emission trading schemes and 26 carbon taxes initiatives worldwide cover 11 gigatonnes of carbon dioxide emissions, or 20 pct of global greenhouse gas emissions.

    "Looking ahead, this trend is set to continue, as indicated by some of the jurisdictions which are planning carbon price increases," the World Bank report says. "This includes emerging carbon pricing initiatives, which are launching at relatively low price levels, with the intention of scaling up over time," the report added.

    Governments raised around $33 billion in carbon pricing revenues in 2017, compared with $22 billion the previous year, the report said. (Source: World Bank, Economic Times India, 22 May, 2018) Contact: World Bank, John Roome, (202) 473-3373, http://www.worldbank.org/en/about/people/j/john-roome

    More Low-Carbon Energy News Carbon Tax,  Climate Change,  CO2,  GHG,  World Bank,  


    Kenyan Biogas Specialist Wins World Bank Support (Int'l) i
    Sistema.bio,
    Date: 2018-05-18
    In Nairobi, Kenysn biogas/biodigestion specialist Sistema.bio reports receipt of a Sh35 million ($349,000)investment from the World Bank that converts manure into biogas and natural fertilizer have received a investment from a World Bank fund Kenya Climate Ventures Fund.

    Sistema.bio will use the funds to scale-up its hybrid reactor biodigesters, delivering sustainable renewable energy and agricultural products to more small farmers in Kenya. Sistema.bio generates revenues from sales of the high-performance bio-digesters and the sale of utility accessories suitable for cooking, heating, mechanical energy and electric power generation. The company also offers interest-free payment plans to small farmers.(Source: Sistema.bio, Capital Business, 17 May, 2018) Contact: Sistema.bio, +254 7044 44215, www.sistema.bio

    More Low-Carbon Energy News Biogas,  bio-digesters,  Anerobic Digestion ,  


    Argentine Banco Galicia Offers Energy Efficiency Funding (Int'l)
    Banco Galicia,International Finance Corporation
    Date: 2018-05-07
    Telam, the Argentin national news agency is reporting Argentine banking giant Banco Galicia is offering $100 million in financing for renewables, energy efficiency and sustainable construction projects. The loans are for up to seven years and fixed rates of between 6 pct and 8 pct.

    Funds for this green energy financing were raised through a recent Banco Galicia green bond issuance that was 100 pct subscribed to by the International Finance Corporation (IFC). (Source: Telam, Banco Galicia, Renewables, 7 May, 2018) Contact: Banco Galicia, www.bancogalicia.com; IFC World Bank, (202) 473-1000, www.ifc.org

    More Low-Carbon Energy News Energy Efficiency Funding,  Energy Efficiency,  Renewable Energy,  International Finance Corporation,  


    Bhutan REDD+ Project to Fight Climate Change Scores $4.8Mn (Int'l)
    World Bank,REDD+
    Date: 2018-02-12
    The World Bank reports it has granted $4.8 million to support Bhutan's efforts to reduce greenhouse gas emissions through strengthening the country's forests under the Bhutan REDD+ Readiness Project.

    The Reducing Emissions from Deforestation and Forest Degradation, and Conservation, Sustainable Management of Forest and Enhancement of Forest Carbon Stocks (REDD+) is a mitigation mechanism to combat climate change. The international programme operates under the principles of reducing emissions from deforestation and forest degradation, and enhancing carbon sequestration through improved forest protection and management.

    The REDD+ Readiness programme was established in Bhutan in 2010. In 2013, the Forest Carbon Partnership Facility of the World Bank approved the REDD+ Readiness Preparation Proposal (R-PP) and the project was implemented from 2015 with $3.8 million in World Bank grant funding. In the three years, the project completed the National Forest Inventory, established heritage forests, land use and land cover mapping 2016, revised forest and nature conservation rules and regulations of 2017, build capacity for forest management, and institutionalized national forest monitoring system and forest reference emission level including the forest resource information management system. (Source: Kuensel, World Bank, 12 Feb., 2018)

    More Low-Carbon Energy News REDD+,  World Bank,  Reforestation,  Deforestation,  Climate Change,  


    World Bank Funds Ghana Climate Change Mitigation Project (Int'l)
    World Bank
    Date: 2018-02-12
    The World Bank (WB) Climate Investment Fund is reporting the launch of Ghana Dedicated Grant Mechanism for Local Communities, a 5-year, $5.5 million project to mitigate the impact of climate change in 52 forest fringe communities in Ghana. The project is being implemented by the Solidarid West Africa, a partner of the WB, which seeks to fight forest loss and half unsustainable land use practices in the drive against climate change and associated impact.

    The first component of the project focuses on the dissemination of knowledge to increase communities understanding of the linkages between climate change and their current land use practices. The second component focuses on the provision of demand driven sub-grants to communities and Community-Based Organisations (CBOs) to put into practice knowledge acquired by the beneficiaries for climate change mitigations.

    The WB and its partners are implementing similar community projects in Mexico, Indonesia, Burkina Faso, Peru, Brazil, Laos and Congo. (Source: GNA, World Bank, 9 Feb., 2018)

    More Low-Carbon Energy News World Bank,  Climate Change,  


    WB IFC, Canada Partner on Sub-Saharan Renewable Energy (Int'l)
    World Bank IFC
    Date: 2018-02-05
    The World Bank Group IFC (WB IFC)and the government of Canada are reporting the launch of the Canada-IFC Renewable Energy Program for Africa, a financial partnership intended to utilize public funding to generate private sector investments in renewable energy in Sub-Saharan Africa.

    Canada is contributing $122 million to be used by WB IFC to "catalyze" private sector investment in renewable energy by offering concessional financing mixed with WD IFC's own account resources to mitigate a variety of risks that can deter private investment in renewable energy. The Canadian contribution is inline with its commitments under the 2015 Paris Agreement and the Africa Renewable Energy Initiative. (Source: World Bank IFC, Various Media, PV Tech, 20 Feb., 2018)Contact: World Bank IFC, www.ifc.org

    More Low-Carbon Energy News World Bank IFC,  Renewable Energy,  


    $200Mn Earmarked for Uzbekistan Industrial Energy Efficiency (Int'l)
    World Bank
    Date: 2018-02-02
    The World Bank is reporting that industrial enterprises in Uzbekistan will be able to improve energy efficiency and productivity, thanks to the just approved Energy Efficiency Facility for Industrial Enterprises Project - Phase 3. The Project will be financed by a $200 million loan from the International Bank for Reconstruction and Development (IBRD).

    Uzbekistan's energy intensity is one of the highest in the world and its industrial sector, which is largely dependent on inefficient and obsolete technology, accounts for about 40 pct of the country's total energy consumption.

    The Uzbekistan government aims to reduce the country's energy intensity by about 50 pct by 2030 and, to that end, has initiated modernization investment programs that target key energy-consuming sectors. (Source: World Bank, AKIPRESS.COM, 31 Jan., 2018)Contact: World Bank IFC,www.ifc.org

    More Low-Carbon Energy News World Bank,  Energy Efficiency,  


    Manila, IFC Creating Philippines' Green Building Code (Int'l)
    International Finance Corp
    Date: 2018-01-19
    In Manila, the government od the Philippines and the International Finance Corp (IFC) report they have partnered to create the country's first "green building" code to help private firms reduce greenhouse gas emissions, cut electric power consumption by 3.9 million KWh, and reduce greenhouse gas emissions by 1.87 million metric tpy for a projected savings of $864 million. About one-third of electricity demand in the Philippines comes from buildings.

    IFC -- a sister organization of the World Bank and member of the World Bank Group -- is the largest global development institution focused exclusively on the private sector in developing countries. The IFC utilizes and leverages its products and services as well as the products and services of other World Bank institutions. (Source: International Finance Corp., ABS-CBN, 17 Jan., 2018) Contact: International Finance Corp., www.ifc.org

    More Low-Carbon Energy News Green Building,  Energy Efficiency,  International Finance Corp,  


    World Bank Supports Marshall Islands Renewables, Energy Efficiency (Funding)
    World Bank
    Date: 2017-12-18
    In the Pacific, the Republic of the Marshall Islands reports the World Bank has approved $34 million in grant funding for the Marshall Islands Sustainable Energy Development Project.

    The new project will assist in the design, supply, installation, and provide operational support for solar power generation, battery energy storage, and grid management equipment in the capital Majuro, as well the replacement of existing generators to ensure lower emissions and improve operational and energy efficiency in Majuro and Ebeye.

    The project will also provide technical and operational training and workshops and other assistance to reduce energy consumption by improving the efficiency for both the use and supply of electricity from the country's two public sector utilities. The project will also promote energy efficiency through public information campaigns. (Source: Voxy.com.nz, World Bank, 18 Dec., 2017)

    More Low-Carbon Energy News Energy Efficiency news,  World Bank news,  Renewable Energy news,  


    Philippines BDO Issues $150Mn Green Bond (Ind. Report)
    World Bank IFC
    Date: 2017-12-11
    The Philippines' largest lender BDO Unibank has raised $150 million from a pioneering offshore "green" bond issuance, boosting private sector funding for climate change mitigating initiatives. The funds will be used exclusively to finance climate-smart projects including renewable energy, green buildings, and energy-efficient equipment.

    The green bond is seen to provide an alternative source of long-term green finance in the country and contribute to the Philippines' target of reducing carbon emissions by 70 pct by 2030 relative to its Business As Usual scenario. The financing deal is expected to help save 93,000 tpy of CO2 emissions per year by 2022, according tothe bank's website.

    The World Bank International Finance Corp. (IFC) is the sole investor in the bond. Since 2005, IFC has invested $18.3 billion in long-term financing from its own account, and mobilized another $11 billion through partnerships with investors for climate-related projects. Overall, IFC has issued $7.25 billion in green bonds in 12 currencies. (Source: BDO, Philippine Daily Inquirerer, 8 Dec., 2017)Contact: BDO, www.bdo.com.ph; World Bank International Finance Corp, https://finances.worldbank.org/ifc

    More Low-Carbon Energy News Green Bond,  Climate Change Mitigation,  Climate Change,  World Bank IFC,  


    Green Bldg. Investments Top $3.4Tn by 2025, says IFC (Ind. Report)
    World Bank International Finance Corp.
    Date: 2017-12-01
    A recent study by the World Bank International Finance Corp. (IFC) has found that investments in "green" or environment-friendly buildings could top a cumulative $3.4 trillion by 2025 "if countries adopt better building codes and standards, create targeted financial incentives such as green-building certification and mandatory benchmarking of energy use, encourage new utility business models; green mortgages and energy-service companies.

    In 2010, buildings accounted for 36 pct of the country's total annual power consumption and emitted 33.28 million metric tons of carbon dioxide. In seven years, rapid urban migration is expected to increase the number of new buildings by 20 pct annually.

    Since 2005, the IFC has invested $18.3 billion in long-term funding for climate-smart projects and mobilized an additional $11 billion from other investors. (Source: World Bank, International Finance Corp., ProudGreenBuilding, 29 Nov., 2017) Contact: World Bank IFC, www.ifc.org

    More Low-Carbon Energy News Green Building,  Energy Efficiency,  Building Energy Benchmarking,  World Bank International Finance Corp.,  Green Building,  Energy Efficiency,  


    2017 BP Statistical Review of World Energy -- Report Attached (Ind. Report)
    BP
    Date: 2017-10-27
    According to the 2017 BP Statistical Review of World Energy, since 2005 annual U.S. carbon dioxide emissions have declined by 758 million metric tons -- the largest decline of any country over that time frame.

    By way of comparison, the European Union's total decline amounted to 770 million tons while the UK reported a 170 million metric ton decline. At the same time, China's carbon dioxide emissions grew by 3 billion metric tons, and India's grew by 1 billion metric tons.

    According to the World Bank, U.S. per capita carbon dioxide emissions rank 11th among all countries. So, we are not the largest per capita emitter, but we do emit 2.2 times as much on a per capita basis as China. But, China has 4.3 times as many people, and that matters from an overall emissions perspective. China's lower per capita carbon dioxide emissions are more than offset by its greater population, so China emits over 70 pct more CO2 per year than the U.S.

    Access the BP Statistical Review of World Energy HERE. (Source: BP, Forbes, Other Media, 24 Oct., 2017)

    More Low-Carbon Energy News BP,  Carbon Emissions,  


    Fiji Issues Green Bond for Climate Mitigation (int'l Report)
    Green Bonds
    Date: 2017-10-20
    In Suva, the government of Fiji reports it has issued a sovereign $50 million green bond to fund climate change mitigation efforts and to achieve 100 pct renewable energy and reduce its CO2 emissions in the energy sector by 30 pct by 2030. The World Bank, the International Finance Corporation, and the Australian government through a Capital Markets Development Project helped Fiji with the issuance.

    The World Bank issued the first green bond in 2008. The island nation of Fiji the first developing country to issue a green bond. The Fiji bonds issued between 1 November 2017 – May 2018, will mature between 1 November 2022 and 1 November 2030, with interest rates of 4 pct and 6.3 pct. (Source: Matangi, Tonga Online, Radio New Zealand, 18 Oct., 2017)Contact: Fiji Government Online Portal, www.fiji.gov.fj

    More Low-Carbon Energy News Green Bonds,  Climate Change Mitigation,  Renewable Energy,  World Bank,  

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