Tata Cleantech Capital has to date contributed to the development of 9.8 million kilowatts renewable energy and the reduction of 15.1 million tons of carbon dioxide. India has pledged to reduce greenhouse gas emissions per GDP by 33 to 35 pct by 2030 from the 2005 level under the 2015 Paris Climate Agreement.
(Source: Japan International Cooperation Agency, PR, Kyodo News, 3 Apr., 2021) Contact: Japan International Cooperation Agency, www.jica.go.jp; Tata Cleantech Cap., www.tatacapital.com/tccl.html
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The World Bank, the largest multilateral provider of climate finance for developing countries, provided $83 billion in climate finance over the past five years, peaking at $21.4 billion in 2020.
Under the new plan, 35 pct of WB financing will have climate co-benefits, on average, over the next five years and 50 pct of WB climate financing will support climate change adaptation and resilience -- up from the 26 pct achieved on average in FY16-20 and an even more in dollar terms. The new Climate Change Action Plan will:
The World Bank Group reiterated it “will work with all stakeholders to address climate change challenges head on and support our clients to unlock the benefits of green, resilient and inclusive development."
(Source: World Bank Group, PR, April , 2021)Contact: World Bank, International Finance Corporation, www.ifc.org
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The initiative will focus on improving community-based forest management, improving integrated land use planning and promoting alternative energy sources. It is also expected to support
Nepal's Emission Reductions Programme aims to reduce 9 million tpy of carbon emissions,
lower rates of deforestation and forest degradation across 2.4 million hectares of resource-rich land, including 20 pct of the country’s forest cover in the Terai Arc Landscape. (Source: Gov. of Nepal, Energy Live, World Bank IFC, 1 Mar., 2021)
Contact: World Ban, International Finance Corporation, www.ifc.org
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The project, which aims to increase the scale of energy efficient green construction and mortgage finance, is also being supported by the UK-IFC market accelerator for green construction (MAGC) Program -- a partnership between IFC and the Government of the United Kingdom. (Source: International Finance Corporation, PR, Economic Times, 7 Dec., 2020)
Contact: International Finance Corporation, www.ifc.org; Aavas Financiers, www.aavas.in
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The two organizations will use the study to identify and develop appropriate financing mechanisms that can be used to leverage private sector participation and the mobilization of capital to address the financing needs for delivering the measures laid out in the National Energy Efficiency Strategy.
The study has a particular focus on the public, agriculture and industrial sectors which combined, represent about 45 pct of South Africa's total energy consumption.
(Source: World Bank, Creamer Media, 17 Nov., 2020)
Contact: South African National Energy Development Institute , Barry Bredenkamp. Energy Efficiency GM, +27 11 038 4300, www.sanedi.org.za; World Bank International Finance Corporation, www.ifc.org
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O2 Power is a $500-million renewable energy platform with an 800 MW solar portfolio in Andhra Pradesh and Rajasthan, according to the company website. (Source: O2 Power, Mint, 27 Sept., 2020)
Contact: Azure Power, Ranjit Gupta, CEO, +91-11-4940-9854, email@example.com, www.azurepower.com; O2 Power, info@O2power.in, www.O2power.in; Ayana Renewable Power, +9180-48511001, www.ayanapower.com
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According to IFC Country Head Jun Zhang, IFC is committed to urban and smart city development projects in India.
(Source: IFC, PR, The Dispatch, 19 Sept., 2020) Contact: IFC,
(202) 473-3031, www.ifc.org
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EAQIP is intended to forward Rwanda's progress towards achieving UN Sustainable Development Goal 7 (SDG7) to ensure access to affordable, sustainable and modern energy while contributing to the country's goal of cutting the country's reliance on cooking fuel by 50.
EAQIP will provide funding for the country's ongoing program of expanding grid connections for residential, commercial, industrial, and public sector consumers, as well as reducing the costs of off-grid residential solar systems. (Source: World Bank, PR, Sept., 2020)Contact: World Bank International Finance Corporation, www.ifc.org
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Version 2.1 of the Climate Assessment for Financial Institutions (CAFI) platform gives users new insights through graphics, enhanced climate metrics, and improved key performance indicators. The platform incorporates feedback from IFC's industry experts and the broader community of financial institutions.
Present;y, 120 financial institutions have access to CAFI, with $5.8 billion of climate disbursed loans reported through the platform. The resulting impact captured through CAFI is an annual reduction of 12.1 million tons of carbon dioxide equivalent, 26.2 GWh of renewable energy generated, 1.1 million square meters of green area built, and 1.7 million cubic meters of water saved.
CAFI will be updated to ensure its climate metrics and eligibility criteria stay in line with IFC's Definitions for Climate-Related Activities and IFC's GHG Reduction Accounting Guidance for Climate-Related Projects.
Download CAFI details HERE.
(Source: IFC, PR, 14 Sept., 2020) Contact: IFC, Jay Pulizzi,
(202) 473-3031, firstname.lastname@example.org, www.ifc.org
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EDGE software allows the evaluation of a building's energy consumption, energy efficiency and overall "green" features including: low-flow faucets to reduce water consumption; wastewater management systems; efficient HVAC systems; insulation; green building materials and others.
With EDGE software, certified green real estate projects are projected to achieve a 20 pct reduction in energy and water consumption compared to conventional buildings. (Source: IFC, Afrik21, Sept., 2020) Contact: World Bank International Finance Corporation, www.ifc.org
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The investment will facilitate the implementation of Globaltronics' energy efficient "smart" electric meter replacement project in Egypt, and is in line with
the Egyptian government's ongoing energy reforms program. (Source: International Finance Corporation, Afrik21, 29 June, 2020)
Contact: International Finance Corporation
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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 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;
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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
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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
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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,
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
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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
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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
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The Senegalese government and International Finance Corporation funded projects which have a combined installed capacity of 60 MW and are part of a wider initiative in Senegal called Scaling Solar.
Construction and operation of the two solar projects will be managed and executed by ENGIE. (Source: ENGIE Africa, PEI, 14 Nov., 2018) Contact: ENGIE Africa,www.engie-africa.com/en
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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
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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
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