Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework

Achieving the goals of the Paris Agreement requires countries to finance transformational changes with significant investments in both mitigation and resilience-building. International public climate finance with some degree of concessionality (i.e...

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Main Author:	World Bank Group
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2018
Subjects:	CLIMATE CHANGE CLIMATE FINANCE CLIMATE RESILIENCE ENVIRONMENTAL SUSTAINABILITY CARBON POLICY CARBON FINANCE CLIMATE CHANGE MITIGATION CLIMATE CHANGE POLICY CONCESSIONAL FINANCE PARIS AGREEMENT
Online Access:	http://documents.worldbank.org/curated/en/879251537779825585/Strategic-Use-of-Climate-Finance-to-Maximize-Climate-Action-A-Guiding-Framework http://hdl.handle.net/10986/30475

id	okr-10986-30475
recordtype	oai_dc
spelling	okr-10986-304752021-05-25T09:18:36Z Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework World Bank Group CLIMATE CHANGE CLIMATE FINANCE CLIMATE RESILIENCE ENVIRONMENTAL SUSTAINABILITY CARBON POLICY CARBON FINANCE CLIMATE CHANGE MITIGATION CLIMATE CHANGE POLICY CONCESSIONAL FINANCE PARIS AGREEMENT Achieving the goals of the Paris Agreement requires countries to finance transformational changes with significant investments in both mitigation and resilience-building. International public climate finance with some degree of concessionality (i.e., climate finance) makes it possible to provide grants or loans with reduced interest rates and/or longer grace or repayment periods. Given the scarcity of climate finance, this paper proposes a framework for determining the appropriate degree of concessionality for a program/project, and for prioritizing programs/projects for climate action. To maximize the impact of climate finance, the degree of concessionality allocated to a program/project should be equal to what is needed to overcome the identified barriers to implementation and make the program/project viable. In parallel, the framework prioritizes programs/projects that are ambitious and transformational. Ambitious projects contribute significantly to achieving the objectives of the Paris Agreement. A program/project is transformational if it meaningfully reduces barriers to implementation for future programs/projects that will decrease emissions or boost resilience. The paper illustrates how the three dimensions (i.e., barriers to implementation, ambitious, and transformational) can be qualitatively assessed at four levels for a given mitigation or resilience-building program/project and recommends future work to operationalize the framework into decision-making processes. 2018-10-01T20:27:17Z 2018-10-01T20:27:17Z 2018-09 Report http://documents.worldbank.org/curated/en/879251537779825585/Strategic-Use-of-Climate-Finance-to-Maximize-Climate-Action-A-Guiding-Framework http://hdl.handle.net/10986/30475 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Environmental Study Economic & Sector Work
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	CLIMATE CHANGE CLIMATE FINANCE CLIMATE RESILIENCE ENVIRONMENTAL SUSTAINABILITY CARBON POLICY CARBON FINANCE CLIMATE CHANGE MITIGATION CLIMATE CHANGE POLICY CONCESSIONAL FINANCE PARIS AGREEMENT
spellingShingle	CLIMATE CHANGE CLIMATE FINANCE CLIMATE RESILIENCE ENVIRONMENTAL SUSTAINABILITY CARBON POLICY CARBON FINANCE CLIMATE CHANGE MITIGATION CLIMATE CHANGE POLICY CONCESSIONAL FINANCE PARIS AGREEMENT World Bank Group Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework
description	Achieving the goals of the Paris Agreement requires countries to finance transformational changes with significant investments in both mitigation and resilience-building. International public climate finance with some degree of concessionality (i.e., climate finance) makes it possible to provide grants or loans with reduced interest rates and/or longer grace or repayment periods. Given the scarcity of climate finance, this paper proposes a framework for determining the appropriate degree of concessionality for a program/project, and for prioritizing programs/projects for climate action. To maximize the impact of climate finance, the degree of concessionality allocated to a program/project should be equal to what is needed to overcome the identified barriers to implementation and make the program/project viable. In parallel, the framework prioritizes programs/projects that are ambitious and transformational. Ambitious projects contribute significantly to achieving the objectives of the Paris Agreement. A program/project is transformational if it meaningfully reduces barriers to implementation for future programs/projects that will decrease emissions or boost resilience. The paper illustrates how the three dimensions (i.e., barriers to implementation, ambitious, and transformational) can be qualitatively assessed at four levels for a given mitigation or resilience-building program/project and recommends future work to operationalize the framework into decision-making processes.
format	Report
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework
title_short	Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework
title_full	Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework
title_fullStr	Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework
title_full_unstemmed	Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework
title_sort	strategic use of climate finance to maximize climate action : a guiding framework
publisher	World Bank, Washington, DC
publishDate	2018
url	http://documents.worldbank.org/curated/en/879251537779825585/Strategic-Use-of-Climate-Finance-to-Maximize-Climate-Action-A-Guiding-Framework http://hdl.handle.net/10986/30475
_version_	1764472197551751168

Strategic Use of Climate Finance to Maximize Climate Action : A Guiding Framework

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