Accessing International Climate Change Related Finance in Latin America and the Caribbean

Financing projects and programs to mitigate impacts of, and adapt to, the climate change is a matter of necessity not choice. This green expenditure policy note looks at factors facilitating the access to international financial instruments for Latin America and the Caribbean (LAC) countries that support mitigation of and adaptation to climate change. This policy note explores two questions: (i) does the quality of government institutions matter for enabling action aimed at mitigation or adaptation to the climate change?; and (ii) what financial instruments are available to governments in addition to own resources to address climate change challenges? This policy note aims to present them with advice on how to achieve greater access to international financing or co-financing of projects supporting renewable and alternative energy generation for transport, agriculture, housing, preservation of unique ecosystems, and other projects supporting sustainable development. This policy note describes the climate challenges facing the LAC region and then discusses the various climate financing flows. It discusses the factors affecting LAC countries' access to climate financing, and how countries can apply to several of the principal global and regional climate funds. The objective is to disseminate knowledge that will help governments of all LAC countries, and particularly finance ministries, understand and access new climate funds and financing mechanisms. The policy note consists of three parts: part one reviews the global landscape of the climate change financing for mitigation and adaptation and emerging trends, identifies various financial instruments, and presents an overview of the LAC's share of available finances from several public financing sources, both bilateral and multilateral. Part two reviews two case studies for Bolivia and El Salvador that demonstrate how each of these countries addresses environmental challenges through its policies, institutional systems and involvement of the civil society. Part three includes technical annexes, which represent a compilation of technical information presenting main climate change financial instruments. A list of global and specialized climate funds of possible interest to LAC countries appear in annex one. A complementary list of climate finance instruments appears in annex two, in which climate funds as well as financial tools are named, described, and categorized according to their primary purpose. A more detailed description of several of the largest climate funds including when such funds were founded, their purpose, and eligibility requirements are presented in annex three. Annex four provides a step-by-step description of how to apply to the largest climate funds. Annex five lists the LAC projects that have been supported by Global Environment Facility (GEF) by country.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2013-06-14
Subjects:	ACCREDITATION, ADVANCED ECONOMIES, ADVERSE EFFECTS OF CLIMATE CHANGE, AGRICULTURE ORGANIZATION, ALLOWANCES, ALTERNATIVE ENERGY, APPLICATION PROCESS, ATMOSPHERIC CONCENTRATION, AWARENESS OF CLIMATE CHANGE, CAPITAL INVESTMENTS, CAPITAL MARKET, CARBON, CARBON CREDITS, CARBON EMISSIONS, CARBON EMISSIONS FROM DEFORESTATION, CARBON FINANCE, CARBON MARKET, CARBON MARKETS, CARBON NEUTRAL, CARBON OFFSET, CARBON OFFSETS, CARBON TAXES, CERTIFIED EMISSIONS REDUCTIONS, CHEMICALS, CLEAN DEVELOPMENT MECHANISM, CLEAN ENERGY, CLEAN ENERGY TECHNOLOGIES, CLEAN TECHNOLOGY, CLIMATE, CLIMATE ACTION, CLIMATE CHANGE, CLIMATE CHANGE ACTIVITIES, CLIMATE CHANGE ADAPTATION, CLIMATE CHANGE CHALLENGES, CLIMATE CHANGE FUND, CLIMATE CHANGE FUNDS, CLIMATE CHANGE MITIGATION, CLIMATE CHANGE PROBLEMS, CLIMATE CHANGE PROGRAM, CLIMATE CHANGE RESEARCH, CLIMATE CHANGE STRATEGY, CLIMATE FACTORS, CLIMATE INITIATIVE, CLIMATE INVESTMENT, CLIMATE MITIGATION, CLIMATE POLICY, CLIMATE RESILIENCE, CLIMATE SPECIALISTS, CLIMATE-CHANGE, CLIMATE-RELATED DISASTERS, CO, CO2, COLORS, CONCEPTUAL FRAMEWORK, COSTS OF CLIMATE CHANGE, CPI, DEBT, DEFORESTATION, DEMAND FOR ENERGY, DEMOGRAPHICS, DEVELOPED COUNTRIES, DEVELOPMENT ASSISTANCE, DEVELOPMENT BANK, DEVELOPMENT BANKS, DISASTER PREVENTION, DNA, DOMESTIC SOURCES, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIES OF SCALE, ECOSYSTEM, ELIGIBILITY CRITERIA, EMISSION, EMISSION REDUCTION, EMISSION REDUCTION POTENTIAL, EMISSION REDUCTION TARGETS, EMISSION REDUCTIONS, EMISSION TRADING, EMISSION-REDUCTION, EMISSIONS, EMISSIONS FROM DEFORESTATION, EMISSIONS REDUCTION, ENERGY CONSUMPTION, ENERGY EFFICIENCY, ENERGY SECURITY, ENVIRONMENTAL, ENVIRONMENTAL ECONOMICS, ENVIRONMENTAL IMPACTS, ENVIRONMENTAL ISSUES, ENVIRONMENTAL MANAGEMENT, ENVIRONMENTAL POLICIES, ENVIRONMENTAL POLICY, ENVIRONMENTAL PROBLEMS, ENVIRONMENTAL REGULATION, ENVIRONMENTAL TAXATION, ENVIRONMENTAL TAXES, EQUITY INVESTMENTS, EXPENDITURE, EXPENDITURES, EXPOSURE TO CLIMATE CHANGE, EXTREME CLIMATE EVENTS, EXTREME WEATHER, FIDUCIARY STANDARDS, FINANCE INITIATIVES, FINANCIAL CHALLENGES, FINANCIAL INCENTIVES, FINANCIAL INSTRUMENTS, FINANCIAL INTERMEDIARY, FINANCIAL MARKETS, FINANCIAL RESOURCES, FINANCIAL RISK, FINANCIAL TOOLS, FOREIGN DIRECT INVESTMENT, FOREST, FOREST CARBON, FOREST CARBON STOCKS, FOREST DEGRADATION, FOREST INVESTMENT, FOREST RESOURCES, FORESTRY, FORESTS, FRAMEWORK CONVENTION ON CLIMATE CHANGE, FUNDING SOURCES, GHG, GHGS, GLOBAL CLIMATE, GLOBAL ENVIRONMENT FACILITY, GLOBAL ENVIRONMENTAL FACILITY, GLOBAL GREENHOUSE GAS, GLOBAL WARMING, GOVERNMENT POLICY, GREATER ACCESS, GREENHOUSE, GREENHOUSE GAS, GREENHOUSE GAS EMISSIONS, GROSS NATIONAL INCOME, INEQUALITY, INNOVATIVE FINANCING, INSTITUTIONAL INVESTORS, INSURANCE, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, INTERNATIONAL BANK, INTERNATIONAL FINANCE, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL FOREST CARBON, INVESTMENT BANK, ISLAND ECONOMIES, LAND DEGRADATION, LAND USE, LAND USE CHANGE, LINES OF CREDIT, LOW-CARBON, METHANE, MITIGATION OF CLIMATE CHANGE, MONETARY FUND, MULTILATERAL FINANCIAL INSTITUTIONS, N2O, NATIONAL CLIMATE, NATIONAL CLIMATE CHANGE, NATIONAL INCOME, NATURAL RESOURCES, ODS, OFFSET CREDITS, OIL, OZONE, PENSION FUNDS, PEOPLES, POLLUTERS, POLLUTION, PORTFOLIO, PP, PRIVATE EQUITY, PRIVATE INVESTMENT, PRIVATE INVESTORS, PROPERTY RIGHTS, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC POLICY, RAINFALL, RECYCLING, REDUCING EMISSIONS, REGIONAL CLIMATE, REGIONAL CLIMATE PROJECTIONS, REGULATORY FRAMEWORK, RENEWABLE ENERGY, RENEWABLE ENERGY SOURCES, RESOURCE ALLOCATION, RESOURCE USE, SCIENTIFIC RESEARCH, SOURCES OF FINANCE, STRATEGIES FOR CLIMATE CHANGE, SUSTAINABLE DEVELOPMENT, SUSTAINABLE MANAGEMENT, TECHNOLOGICAL CHANGE, UNEP, UNION, VULNERABILITY TO CLIMATE CHANGE, WASTE MANAGEMENT, WIND,
Online Access:	http://documents.worldbank.org/curated/en/2013/06/17939143/latin-america-accessing-international-climate-change-related-finance-latin-america-caribbean https://hdl.handle.net/10986/16073
Tags:	Add Tag No Tags, Be the first to tag this record!