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WB Funding Supports Pakistan's Climate Change Fight (Int'l.)
World Bank
Date: 2020-06-03
In Islamabad, the Prime Minister's office is reporting a 5-year, $188 million funding agreement with the World Bank (WB).

The funding is to support Pakistan's Hydromet and Ecosystem Restoration Services Project and will provide financial and technical support to disaster resilience and ecosystem restoration initiatives through more reliable and timely weather forecasting, improved disaster risk management services and overall environmental sustainability as well as help Pakistan achieve its green growth targets.It will also support the country's "10 Billion Tree Tsunami Afforestation Project" aimed at bolstering plantations and nature-based solutions to Pakistan's climate change adaptation and mitigation objectives. (Source: World Bank, Profit, 2 June, 2020)Contact: World Bank International Finance Corporation, www.ifc.org

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


World Bank Issues $28.6Mn Blue Economy Bond (Int'l. Report)
World Bank
Date: 2019-11-27
The World Bank International Bank for Reconstruction and Development is reporting the issuance of a $28.6 million five-year Sustainable Development Bond as part of ongoing efforts to focus attention on the sustainable use of oceans and coastal areas -- the "Blue Economy." Credit Suisse Securities (Europe) Ltd., through its Impact Advisory and Finance Department, acted as the sole manager of the transaction.

World Bank bonds support the financing of sustainable development projects and programs designed to promote strong governance of marine and coastal resources to support sustainable fisheries and aquaculture, reduce pollution in waterways and oceans and address climate change. The World Bank issues $50-$60 billion in the global capital markets every year.

"Absorbing approximately 30 pct of the CO2 created by humans and generating 50 pct of the world's oxygen, yet significantly underfunded from a private capital perspective, ocean health is critical," according to Marisa Drew, CEO of the Impact Advisory and Finance Department at Credit Suisse.

(Source: World Bank, Credit Suisse, The Asset, Nov., 2019) Contact: World Bank International Finance Corporation, www.ifc.org; Credit Suisse, www.credit-suisse.com

More Low-Carbon Energy News Credit Suisse,  World Bank,  Low-Carbon Economy,  


WB Loan Supports Armenian Climate Change Initiatives (Int'l Report)
World Bank
Date: 2019-11-25
The Amenian press service is reporting the World Bank (WB) has given the nod to a €45.8 million ($50 million) loan for the Armenia Governance Development Policy Operation (DPO) which supports the government's efforts to strengthen economic, fiscal, public sector governance and other initiative, including addressing climate change.

As part of the World Bank's global commitment to climate change mitigation and adaptation, this operation will also support the assessment of the climate change impact of new regulations, as part of the implementation of a Regulatory Impact Assessment Framework, thus enabling policymakers to make quantitative assessments and informed decisions on climate change adaptation and mitigation initiatives and related legislative and regulatory packages. (Source: ARMENPress, 22 Nov., 2019) Contact: World Bank International Finance Corporation, www.ifc.org

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


$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,  


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,  


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 ,  


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,  

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