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Begin New Search Topic Climate Finance Publication Year within 1 Year

21. Climate Finance Unchecked: How much does the World Bank know about the climate actions it claims?

Author:
Christian Donaldson, James Morrissey, and Jason Farr
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Oxfam finds that for World Bank projects, many things can change during implementation. On average, actual expenditures on the Bank’s projects differ from budgeted amounts by 26–43% above or below the claimed climate finance. Across the entire climate finance portfolio, between 2017 and 2023, this difference amounts to US$24.28–US$41.32 billion. No information is available about what new climate actions were supported and which planned actions were cut. Now that the Bank has touted its focus on understanding and reporting on the impacts of its climate finance, it is critical to stress that without a full understanding of how much of what the Bank claims as climate finance at the project approval stage becomes actual expenditure, it is impossible to track and measure the impacts of the Bank's climate co-benefits in practice. The Bank should improve its reporting practices, undertake a climate finance assessment on closed projects, standardize how it reports on climate finance in projects and create a public climate finance database.
Topic:
Development, Climate Finance, Accountability, Transparency, and Multilateral Development Banks (MDBs)
Political Geography:
Global Focus

22. Carbon Inequality Kills: Why curbing the excessive emissions of an elite few can create a sustainable planet for all

Author:
Mira Alestig, Dabi Nafkote, Abha Jeurkar, Alex Maitland, Max Lawson, Daniel Horen Greenford, Corey Lesk, and Ashfaq Khalfan
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
The only way to beat climate breakdown and deliver social justice is to radically reduce inequality. This briefing paper reveals the catastrophic climate impacts of the richest individuals in the world, and proposes taking urgent action to protect people and the planet. What little carbon dioxide we can still safely emit is being burned indiscriminately by the super-rich. We share new evidence of how the yachts, jets and polluting investments of the 50 richest billionaires are accelerating the climate crisis. Oxfam’s research shows that the emissions of the world’s super-rich 1% are causing economic losses of trillions of dollars; contributing to huge crop losses; and leading to millions of excess deaths. As global temperatures continue to rise, risking the lives and livelihoods of people living in poverty and precarity, we must act now to curb the emissions of the super-rich and make rich polluters pay.
Topic:
Climate Finance, Investment, Loss and Damage (L&D), Conference of the Parties (COP), and Billionaires
Political Geography:
Global Focus

23. Neither Enough, Nor Adequate: A participatory assessment of the barriers to local access for climate finance in the Sahel

Author:
Norman Martin Casas, Ali Compaoré, and Ximena Michemberg
Publication Date:
11-2024
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Access to climate finance is a prominent feature of the debate for the upcoming COP29 decision to set a New Collective Quantified Goal on Climate Finance. Countries, communities and groups representing marginalised collectives who are most impacted by the climate crisis are in urgent need of scaled-up, accessible and adequate climate finance. Findings from participatory research conducted with more than 100 organisations in the Sahel show that there are still numerous challenges to address in terms of how climate finance mechanisms are designed, how capacities need to be supported, how decision-making spaces affecting climate finance need to be more inclusive, and how gender, intersectional and geographical fragility factors shape unequal access to climate finance. In order to effectively bridge the climate finance access gap, rich countries need to make an urgent commitment to undertake concrete and bold actions to address climate finance access barriers for local actors in climate-vulnerable contexts.
Topic:
Climate Finance, Marginalization, Fragility, and Conference of the Parties (COP)
Political Geography:
North Africa and Sahel

24. Unheard Water Stories from Asia, Africa and MENA: Elevating local voices for water security in a climate insecure world

Author:
Nuzhat Nueary
Publication Date:
11-2024
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
This paper shares stories from six countries—Bangladesh, Nepal, Kenya, Somalia, Syria, and Iraq—highlighting the challenges communities face in accessing water. It seeks to bring forward the unique perspectives of communities from diverse backgrounds, each experiencing water crises in distinct ways. While climate change intensifies their crises, many communities also face marginalization due to exclusionary water governance. The impacts are further compounded by factors such as gender, poverty, ethnicity, and race. However, the voices and perspectives of these communities are often overlooked in global climate discussions.The paper aims to highlight these diverse community experiences and advocate for the inclusion of local voices and leadership in climate actions and interventions to ensure fairer access to water. As global climate events like COP-29 unfold, it calls on governments to create inclusive climate policies, integrate water issues into loss and damage discussions, actively involve women and local voices, and urge rich, polluting nations to compensate those most affected by historic and ongoing carbon emissions.
Topic:
Climate Change, Migration, Water, Governance, Climate Finance, Land Rights, Drought, Loss and Damage (L&D), Gender Equality, Water Insecurity, and Salinity
Political Geography:
Bangladesh, Kenya, Africa, Iraq, South Asia, Middle East, Nepal, Syria, and Somalia

25. Finance for nature: how to improve funding for the protection of biodiversity

Author:
Heather Grabbe and Luca Léry Moffat
Publication Date:
12-2024
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The economics of biodiversity are still little understood and the loss of nature, which provides pollination, clean water and other ecosystem services, is often considered to have primarily local economic impact. But nature has an intrinsic value and also has extrinsic value to many parts of the economy. Destruction of nature has global costs because nature loss accelerates climate change by releasing greenhouse gases into the atmosphere, causes water stress and crop failures that reduce food exports, and can force people to move. Some of the consequences are systemic. Others are long term, because potential solutions to human problems contained in intact ecosystems, such as medicines and bio-technologies, are lost to future generations. The benefits from nature – and particularly biodiversity – do not result in revenue flows that would protect natural capital assets from degradation. The costs of ecosystem destruction are still largely unaccounted for. Finance for biodiversity is very small relative to what is required for its maintenance. Most of the sources are state or public funds, or from private philanthropy. Because biodiversity is complex and has largely been ignored as an economic issue, market mechanisms are still at an early stage of development. Nature still does not appear on many balance sheets, and nor is it integrated into risk assessments across the public and private sectors. This policy brief summarises the options and outlines the main considerations in finding better ways to value nature. We explain why financial tools are important for biodiversity, give an overview of the range of tools developed to finance ecosystems and assess which would be most suitable to pursue at European Union level. The focus in developing existing and new tools should be on whether they can deliver reliable revenue streams over a long period to maintain the value of natural assets. In the EU, the most impactful immediate means of using financing to protect and restore nature is to defund the damage caused to biodiversity by eliminating nature-harming subsidies, starting with reform of the common agricultural policy.
Topic:
Climate Change, Climate Finance, Biodiversity, and Energy
Political Geography:
Europe

26. A climate loss and damage fund that works

Author:
Melanie Pill and Georgia Hammersley
Publication Date:
09-2024
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The new Fund for responding to Loss and Damage should adopt a clear allocation mechanism based on recipient countries’ vulnerability, emission contributions, and climate change policies. Loss and Damage solutions are unlikely to result in clear financial returns, and the Fund should therefore focus on providing fast and efficient grant-based finance to the most vulnerable countries. Simplified procedures for countries and organisations to access financing and a flexible suite of implementation approaches are key. To raise more financial support, the Fund should explore the potential for engagement with philanthropies and encourage donor countries to adopt voluntary market mechanisms such as levies to raise additional funds.
Topic:
Climate Change, Climate Finance, and Loss and Damage (L&D)
Political Geography:
Global Focus