A Financing Facility for Low-Carbon Development

Christophe de Gouvello, Ivan Zelenko and Philippe Ambrosi

No 5914 in World Bank Publications - Books from The World Bank Group

Abstract: The reality of climate change associated with anthropogenic emissions is now widely acknowledged by the scientific community. Its potential devastating future harms are equally well perceived and as stated in the Copenhagen Accord major nations agree on the need to jointly and urgently combat climate change. The international community is also quite aware that stabilizing atmospheric concentrations of green-house gases (GHG) at supportable levels will require a drastic reduction in GHG emissions within a limited period of time. Undertaking such an enormous effort triggers several interlinked challenges: (1) technically mitigating GHG emissions to the required level; (2) implementing these solutions in countries where the required amount of emission reduction is most realistically and efficiently achievable in particular through involving and using in full the large potential of developing countries; and (3) mobilizing the large amount of financing needed to ensure that the corresponding projects and programs can be effectively implemented. Furthermore, these challenges must be simultaneously addressed in a way that is acceptable to all the parties involved. This means in particulars that any arrangement designed to meet the global GHG emission reduction challenge must be consistent with the principle of the common but differentiated responsibilities of developed and developing countries.

Keywords: Finance; and; Financial; Sector; Development-Debt; Markets; Finance; and; Financial; Sector; Development-Banks; &; Banking; Reform; Environment-Climate; Change; Mitigation; and; Green; House; Gases; Macroeconomics; and; Economic; Growth-Climate; Change; Economics; Environment-Environmental; Economics; &; Policies (search for similar items in EconPapers)
Date: 2010
ISBN: 978-0-8213-8521-0
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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