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International Finance Corporation Flashes Warning Signs for Green Climate Fund
International Finance Corporation Flashes Warning Signs for Green Climate Fund

The IFC doesn’t know what a lot of its money is doing, and that’s bad. Though the subject matter might at first seem a bit dull, a recent monitoring report of the financial sector lending of the International Finance Corporation (IFC) is a doozy for the warnings it provides to the Green Climate Fund (GCF). The International Finance Corporation (IFC), the World Bank Group’s private sector lending arm, had a financial intermediary (FI) portfolio of…

Five things Trumps Paris Climate Speech got wrong in his attack on Green Climate Fund
Five things Trumps Paris Climate Speech got wrong in his attack on Green Climate Fund

Donald Trump announced this afternoon that the United States will begin the process of withdrawing from the Paris Agreement. During his remarks, Trump made a series of inaccurate and misleading statements about the Green Climate Fund in connection to his withdrawal decision.

5 simple reasons to oppose HSBC and Credit Agricole at the Green Climate Fund
5 simple reasons to oppose HSBC and Credit Agricole at the Green Climate Fund

Either Wednesday or Thursday of this week, the Board of the Green Climate Fund will decide whether or not banking giants HSBC and Credit Agricole will become "accredited entities" of the GCF. Accredited entities are official partners of the GCF; they can receive and manage GCF funds. Here are five simple reasons why the GCF Board should reject their applications for accreditation. Number 1: Scarce public finance must be used to support communities in developing…

COP Blog: Paris’s $100B question
COP Blog: Paris’s $100B question

Originally posted on Environmental Finance At the Paris COP, it is hardly possible to overstate the importance of climate finance – the provision of funds by developed countries for developing countries to take climate action. This money is critical to show poor nations that rich nations are making good on years of promises to provide such funds – promises which have largely gone unfulfilled. It is also essential for negotiations in Paris to begin in…

112 groups demand grants and honest accounting for rich countries’ promised $100 billion in climate finance
112 groups demand grants and honest accounting for rich countries’ promised $100 billion in climate finance

In light of the recent release of the OECD report, “Climate Finance in 2013-14 and the USD 100 billion goal,” and the finance ministerial that took place in Lima, Peru on Oct. 9 on the sidelines of the World Bank/International Monetary Fund annual meetings, 112 groups from around the world sent a letter to those developed country governments that last month issued the Joint Statement on Tracking Progress Towards the $100 billion Goal. The…

Green Climate Fund faces worrisome developments with big banks, bad process
Green Climate Fund faces worrisome developments with big banks, bad process

Developing countries urgently need money -- and lots of it -- to address climate change. To tackle this tremendous challenge, the international community is looking to the newly established United Nations Green Climate Fund to be the primary channel for multilateral climate finance for the poor and the vulnerable in developing countries. But a recent meeting of the GCF board in Korea brought some worrying developments regarding how the fund will work and for whom.…

Green Climate Fund: Course correction needed?
Green Climate Fund: Course correction needed?

Originally posted on Reuters The Green Climate Fund (GCF) is meant to be a new, innovative institution that will directly support climate action in developing countries, with a particular focus on the poorest and most vulnerable who thus far have had little access to climate finance. Further, the GCF is to do this through projects and programmes that also address sustainable development and bring social, environmental, economic and gender benefits. But last week, at…

Getting climate finance right
Getting climate finance right

Successful examples for the Green Climate Fund from around the world UN climate watchers are eager to see what projects and programs the Green Climate Fund finances out of the starting gate. The implications of the initial project pipeline are big -- not only because they will set a precedent for future projects, but because they also set the stage for Paris. Ambitious, environmentally sound and socially just projects and programs will send the right…

Should the Green Climate Fund finance “less dirty” energy?
Should the Green Climate Fund finance “less dirty” energy?

Originally posted on Reuters Many governments and financial institutions support the deployment of “less dirty” fossil fuels to fight climate change both domestically and internationally, and claim this is a sane, sensible approach. Let’s try applying this logic to smoking. A heavy smoker walks into her doctor’s office hacking up a lung. The doctor tells her patient that it’s fine to smoke, as long as the cigarettes are filtered. The competence - let alone…

Dirty energy financed by the Green Climate Fund? Should we worry?
Dirty energy financed by the Green Climate Fund? Should we worry?

Many governments and financial institutions support the deployment of “less dirty” fossil fuels to fight climate change both domestically and internationally, and claim this is a sane, sensible approach. Let’s try applying this logic to smoking. Here’s a scenario. A heavy smoker walks into her doctor’s office hacking up a lung. The doctor tells her patient that it’s fine to smoke, as long as the cigarettes are filtered. Ludicrous, right? The competence, let alone the…