Return to Today's Publications

 

Newsletter:
Date Range (YYYY-MM-DD) -
Company, Industry or Technology:
  Search Tips


Japanese Loan to Support Indian Green Projects (Int'l. Report)
Japan International Cooperation Agency
Date: 2021-04-05
In Tokyo, the Japan International Cooperation Agency (JAIC) reports it will loan up to ¥10 billion ($90 million)to India's Tata Cleantech Capital Ltd. -- a joint venture between Tata Capital and the World Bank-backed International Finance Corporation (IFC). Tata Cleantech Capital Ltd. will use the funds to provide "green loans" to companies that focus on energy efficiency, renewable energy , and others aimed at cutting carbon emissions and mitigating the impact of climate change.

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

More Low-Carbon Energy News Japan International Cooperation Agency,  Renewable Energy ,  


World Bank Releases New Climate Action Plan (Ind. Report)
World Bank
Date: 2021-04-05
Last week in Washington, the World Bank (WB) announced a new Climate Change Action Plan aimed at helping developing countries achieve measurable reductions in greenhouse gas emissions and pledging to mobilize large-scale resources to aid the transition away from fossil fuels. The Plan will increase climate finance, focus on climate results and impact, improve and expand climate diagnostics and reduce emissions and climate vulnerabilities in key systems.

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:

  • Focuse on climate results and impact -- WB will focus on measuring results and achieving impact, through a greater focus on greenhouse gas emissions reduction, adaptation and resilience goals, supported by new metrics.

  • Improving and expanding climate diagnostics -- WB will build a strong analytical base at the global and country level, including introducing new Country Climate and Development Reports that will support preparation and implementation of Nationally Determined Contributions (NDCs) and Long-Term Strategies (LTSs), and which will feed in to all WBG Country Partnership Frameworks.

  • Reducing emissions and climate vulnerabilities in key systems: -- WB will support transformative investments in key systems that contribute the most to emissions and have the greatest climate vulnerabilities: for example, energy, food systems, transport, and manufacturing.

  • Aligning our financing flows with the goals of the Paris Agreement -- The Bank Group is committed to aligning financing flows with the objectives of the Paris Agreement. For the World Bank, we plan to align all new operations by July 1, 2023. For the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), 85 percent of new operations will be aligned by July 1, 2023 and 100 percent of these by July 1, 2025.

  • The World Bank Group has been instrumental in helping countries address climate change -- including delivering over $83 billion in climate finance over the past five years and reaching the highest level in a single year in 2020 at $21.4 billion. Through this plan, we will be doing more in terms of both dollars and impact.

    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

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


  • Nepal, World Bank Ink Emissions, Deforestation Agreement (Int'l.)
    Nepal, World Bank
    Date: 2021-03-01
    In Kathmandu , the Government of Nepal is reporting $45 million Emissions Reductions Payment Agreement (ERPA) has with the World Bank International Finance Corporation (IFC) aimed at supporting the Himalayan country's effort to decrease carbon emissions from deforestation and forest degradation through 2025.

    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

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


    Fiji, World Bank Ink Forest Carbon Trading Agreement (Int'l.)
    Fiji,Forest Carbon Partnership
    Date: 2021-01-29
    In the South Pacific, Fiji has become the only Small Island Developing State in the Pacific to enter a carbon trade under a 5-year emissions reduction payment agreement with the Forest Carbon Partnership Facility, a global partnership at the World Bank. The facility will unlock $26 million in results based payments for increasing carbon sequestration and reducing emissions from deforestation and forest degradation.

    The Forest Carbon Partnership Facility (FCPF) is a global partnership of governments, businesses, civil society, and Indigenous Peoples focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest carbon stocks in developing countries, activities commonly referred to as REDD+. The FCPF works with 47 developing countries across Africa, Asia, and Latin America and the Caribbean, along with 17 donors that have made contributions and commitments totaling $1.3 billion. The FCPF supports REDD+ efforts through its Readiness and Carbon Funds.

    Fijian Minister for Economy Aiyaz Sayed-Khaiyum noted "The emission reduction program area includes forest protection, planting and ustainable management of over 37,000 hectares spread over 20 districts on the islands of Viti Levu, Vanua Levu and Taveuni, with the potential to expand to other areas that express interest. The contracted volume of greenhouse gases that Fiji is expected to sequester from these forest activities in the next five years is 2.5 million tonnes, for which a result-based payment of $12.5 million will be paid upon verification by the World Bank."(Source: FBN News, 27 Jan., 2021) Contact: Forest Carbon Partnership Facility, www.forestcarbonpartnership.org

    More Low-Carbon Energy News World Bank,  REDD+,  Forest Carbon Partnership,  Fiji,  Carbon Trading,  Reforestation,  Carbon Emissions,  Climate Change ,  


    UK-IFC Supports Indian Energy Efficient Housing Finance (Int'l.)
    International Finance Corporation
    Date: 2020-12-07
    The Washington, DC-based International Finance Corporation (IFC), a member of the World Bank Group, is reporting an agreement with Aavas Financiers Ltd, a retail, affordable housing mortgage lender, and Aavas Foundation to help boost green housing opportunities and scale green housing finance in India. The agreement is expected to encourage the demand for and construction of green buildings and is in line with Indian government's "Housing for All" program.

    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

    More Low-Carbon Energy News International Finance Corporation news,  IFC news,  Green Housing news,  Energy Efficiency news,  


    Indonesia, World Bank Ink Carbon Emissions Reduction Deal (Int'l.)
    World Bank
    Date: 2020-11-30
    In Jakarta, the Indonesian Environment and Forestry Ministry and the World Bank on Friday last signed a deal under the Forest Carbon Partnership Facility (FCPF) which provides an additional opportunity for the government to receive payments in exchange for reducing carbon emissions.

    Under the agreement, Indonesia will be eligible to receive up to $110 million for reducing carbon emissions from deforestation and forest degradation until 2025.

    The results-based FCPF scheme seeks to advance the government's goal of reducing carbon emissions in East Kalimantan by 22 million tons, improve land management and protect 12.7 million hectares of rainforest and other bio-diverse biomass.

    Indonesia has committed to reducing 41 pct of its greenhouse emissions by 2030. (Source: World Bank, Jakarta Post, 28 Nov., 2020) Contact: Forest Carbon Partnership Facility, www.forestcarbonpartnership.org

    More Low-Carbon Energy News Deforestation,  World Bank,  Carbon Emissions,  Forest Carbon,  


    Vietnam Addresses Forest Carbon Emissions (Int'l. Report)
    Forest Carbon Partnership Facility
    Date: 2020-11-30
    In Hanoi, the Vietnamese government reports it has joined the Forest Carbon Partnership Facility (FCPF) to improve forest protection, forest quality and sustainable forest management, thereby helping Vietnam realize its climate targets.

    The Forest Carbon Partnership Facility (FCPF) pledged to purchase 10.3 million tonnes of CO2 emissions from six northern central provinces for a total $51.5 million via the Emission Reductions Payment Agreement (ERPA) in the 2018-2024 period, which was recently signed between the World Bank (WB) and the Ministry of Agriculture and Rural Development.

    The Forest Carbon Partnership Facility (FCPF) is a global partnership of governments, businesses, civil society, and Indigenous Peoples' organizations focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest carbon stocks in developing countries, activities commonly referred to as REDD+.

    The FCPF has to date worked with 47 developing countries across Africa, Asia, and Latin America and the Caribbean, along with 17 donors that have made contributions and commitments totaling $1.3 billion. Vietnam is the first country in the Asia-Pacific region and fifth globally to reach such a milestone agreement with the FCPF. (Source: Nhan Dan Online, 29 Nov., 2020) Contact: Forest Carbon Partnership Facility, www.forestcarbonpartnership.org

    More Low-Carbon Energy News Forest Carbon Partnership,  REDD+,  Carbon Emissions,  Deforestation,  


    Envision Commissions 50MW Argentine Wind Park (Int'l. Report)
    Envision Energy
    Date: 2020-11-18
    Shanghai-headquartered Envision Energy is reporting the commissioning of the 50-MW Vientos Del Secano wind farm in the Buenos Aires Province of Argentina -- the company's second wind farm in Argentina after the 10-MW Garcia del Río wind farm in the Bahia Blanca district.

    The Vientos Del Secano project incorporates 20 Envision EN110 2.5 MW wind turbines generating approximately 217 GWh of electricity. The Vientos Del Secano project was funded by Envision with a guarantee from the World Bank and is fully compliant with the World Bank Group environmental and social guidelines. (Source: Envision, PR, Website, 18 Nov., 2020) Contact: Envision, www.envision-group.com

    More Low-Carbon Energy News Envision Energy,  Wind,  


    World Bank Supports S.African Energy Efficiency Study (Int'l.)
    World Bank
    Date: 2020-11-18
    The World Bank reports the issuance of a $305,000 grant for South Africa for the Climate Change Trust Fund for South Africa: Development of Sustainable Financing Mechanisms for Demand-Side Energy Efficiency Market Transformation, a study of sustainable financial mechanisms for demand-side energy efficiency market transformation for the South African National Energy Development Institute (SANEDI) and the South African Department of Mineral Resources and Energy (DMRE).

    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

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


    IFC Commits $2Tn to Indian Green Bldg. Effort (Int'l. Report)
    International Finance Corporation
    Date: 2020-09-21
    The Washington, DC-headquartered World Bank International Finance Corporation (IFC) reports it will provide $2 trillion to the government of India to improve public transport, expand renewable energy sources and develop green buildings.

    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

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


    World Bank Supports Rwandan Affordable Energy, Efficiency (Int'l.)
    World Bank
    Date: 2020-09-21
    The World Bank is reporting a $150,000,000 commitment to the Rwanda Energy Access and Quality Improvement Project (EAQIP). Of the total, $75 million will be grant funding and $75 will be provided as a loan to improve access to affordable modern energy and to enhance the efficiency of energy services in Rwanda.

    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

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


    IFC's CAFI Helps Financials Measure Climate Impact (Ind Report)
    International Finance Corporation
    Date: 2020-09-21
    The Washington-based International Finance Corporation (IFC), a member of the World Bank Group, has updated its first-of-a-kind online climate impact measurement platform to help financial institutions assess the climate eligibility of their investments and estimate the development impact of their climate-related activities.

    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, hpulizzi@ifc.org, www.ifc.org

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


    Reed Biomass Power Plant Planned in Kazakhstan (Int'l. Report)
    Kazakh Invest
    Date: 2020-09-02
    A new investment project supported by In Kazakhstan, the national investment company Kazakh Invest reports it is supporting KAMYSAY ATYRAU LLP plans to construct a reed-burning biomass power plant and biochar production facility in Atyrau. The project will be "eco-friendly" and the biomass fuel will be processed without chemicals or other harmful additives.

    The roughly €1 million project -- the first in Central Asia to replace fossil fuels with biofuels on an industrial scale -- "will meet the needs of the local market for 'green' thermal and electric energy in remote communities, greenhouses, schools, hospitals and industrial facilities presently using fossil fuels. As a result, the volume of CO2 emissions into the atmosphere will be significantly reduced." Additionally, the plant hopes to export over 200,000 tpy of biochar to European markets, according to a release.

    Kazakh Invest is seeking project funding from the European Bank for Reconstruction and Development (EBRD), the World Bank (WB) and the Development Bank of Kazakhstan (DBK). (Source: Kazakh Invest, Website News, 30 Aug., 2020) Contact: Kazakh Invest, +7 7172 620 620 www.invest.gov.kz

    More Low-Carbon Energy News Biomass,  Biofuel,  Biochar,  


    Green Building Certification Launched in Namibia (Int'l. Report)
    International Finance Corporation
    Date: 2020-09-02
    In Namibia, the World Bank's International Finance Corporation (IFC) reports it is partnering with Bank Windhoek to launch Excellence in Design for Greater Efficiencies (EDGE) software that will enable the certification of green buildings to facilitate their financing. The EDGE initiative also aims to compensate for the lack of a local certification body.

    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

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


    Development Banks Commit $61Bn to Climate Finance in 2019 (Int'l.)
    Climate Change
    Date: 2020-08-24
    According to the 2019 Joint Report on Multilateral Development Banks' Climate Finance , in 2019 seven of the world's largest multilateral development banks (MDBs) provided $61.6 billion in climate financing, out of which $41.5 billion was offered to low-income and medium-income economies.

    Of the total, $46.6 billion was used for climate mitigation and the remaining $14.9 billion was used to help countries build resilience in tackling the impact of global warming.

    The seven banks include: African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank Group (IDB Group), World Bank Group (WBG) and the Islamic Development Bank (IsDB).

    Download the 2019 Joint Report on Multilateral Development Banks' Climate Finance report HERE. (Source: African Development Bank, Mercom India, Aug., 2020) Contact: African Development Bank, www.afdb.org

    More Low-Carbon Energy News Climate Change,  


    Global Gas Flaring Jumps to 2009 Levels (Int'l. Report)

    Date: 2020-07-27
    Estimates from satellite data indicate that global gas flaring increased to levels not seen in more than a decade, to 150 billion cubic metres (bcm), or an equivalent to the total annual gas consumption of sub-Saharan Africa. The data was released by the World Bank-managed Global Gas Flaring Reduction partnership (GGFR), which comprises governments, oil companies, and international institutions working to end routine gas flaring at oil production sites around the world. The data shows that the 3 per cent rise, from 145 billion cubic metres (bcm) in 2018 to 150 bcm in 2019, was mainly due to increases in three countries, including the United States (up by 23 pct), Venezuela (up by 16 pct0 and Russia (up by 9 pct).

    Gas flaring, the burning of natural gas associated with oil extraction, takes place because of technical, regulatory, and/or economic constraints. It results in more than 400 million tonnes of CO2 equivalent emissions every year and wastes a valuable resource, with harmful impacts to the environment from un-combusted methane and black carbon emissions. (Source: World Bank Global Gas Flaring Reduction Partnership, This Day, 26 July, 2020) Contact: Global Gas Flaring Reduction Partnership, World Bank, (202) 473-1000, www.worldbank.org › programs › gasflaringreduction

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


    World Bank, Myanmar Ink Off-Grid Solar Agreement (Int'l. Report)
    World Bank
    Date: 2020-07-20
    The World Bank is reporting a funding agreement with the Government of Myanmar to provide off-grid solar products to 450,000 people in rural Myanmar, nearly two-thirds of which have no access to electricity. The $3.45 million agreement is co-funded by the Global Partnership for Results-Based Approaches and the Energy Sector Management Assistance Program .

    The results-based financing pilot program will help develop a commercial market for Lighting Global-certified solar products and support the sustainable growth of the off-grid lighting market in remote areas of Myanmar. (Source: World Bank, Mercom India, 19 July, 2020) Contact: World Bank, www.worldbank.org

    More Low-Carbon Energy News Solar,  World Bank,  


    IFC Invests in Globaltronics Energy Efficient Smart Meters (Int'l.)
    International Finance Corporation
    Date: 2020-06-29
    The World Bank subsidiary International Finance Corporation (IFC) is reporting a $10 million investment in power grid solutions provider Globaltronics .

    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 Globaltronics, www.globaltronics.net

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


    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,  


    Indonesia Scores $56Mn for CO2 Emissions Reductions (Int'l Report)
    REDD+
    Date: 2020-05-22
    In Jakarta, the Indonesian Environment and Forestry Ministry is set to receive a US$56 million grant from Norway as the first payment for Indonesian success in reducing deforestation and carbon emissions under the Reducing Emissions from Deforestation and Forest Degradation (REDD+) cooperation scheme. The fund would be channeled through the Indonesian Environmental Estate Fund (BPDLH), a public service agency tasked with managing funds related to environmental protection and conservation.

    The ministry reported to Norway that the country saw a decline in the deforestation rate in the 2016-2017 period, with 480,000 hectares of forest lost that was believed to have prevented the release of about 4.8 million tons of carbon dioxide equivalent (CO2e) emissions to the atmosphere -- a figure lower than the baseline agreed upon by both countries.

    Under the REDD+ scheme, Indonesia and Norway agreed to measure Indonesia's results against a 10-year average level of emissions between 2006 and 2016. The annual emissions during that period were estimated at 237 million tons CO2e from deforestation and 42 million tons from forest degradation. Each ton of CO2e under the scheme was valued at $5, referring to the price designated by the World Bank for the REDD+ scheme. (Source: Indonesian Environment and Forestry Ministry, Jakarta Post, 29 May, 2020)

    More Low-Carbon Energy News Carbon Emissions,  REDD+,  


    IFC Supports South African Green Bond Issuance (Int'l, Funding)
    IFC,Standard Bank of South Africa
    Date: 2020-03-04
    IFC, a member of the World Bank Group and one of the world's largest green bond issuer, reports it has invested $200 million in the Johannesburg-based Standard Bank of South Africa Limited's green bond placed on the London Stock Exchange.

    The 10-year green bond -- Africa's largest and South Africa's first offshore green bond issuance -- is compliant with the International Green Bond Principles and will enable Standard Bank Group's Sustainable Finance Business Unit to on-lend to and finance climate-smart projects in South Africa such as renewable energy, energy efficiency, water efficiency and green buildings. (Source: IFC, 2 Mar., 2020) Contact: IFC, www.ifc.org; Standard Bank of South Africa, Nigel Beck, Sustainable Finance, www.standardbank.co.za

    More Low-Carbon Energy News IFC,  Green Bond,  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,  


    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,  

    Showing 1 to 50 of 62.

    Go to page:
    1 2