Global S&T Development Trend Analysis Platform of Resources and Environment
Supporting National Development Banks to Drive Investment in the Nationally Determined Contributions of Brazil, Mexico, and Chile | |
Dario Abramskiehn; Karoline Hallmeyer; Chiara Trabacchi and Donovan Escalante | |
2017-10 | |
出版年 | 2017 |
语种 | 英语 |
国家 | 美国 |
领域 | 气候变化 |
英文摘要 | Co-authors of this report are Maria Netto, Maria Margarita Cabrera, and Alexander Vasa. This report was first published by the Inter-American Development Bank. Executive SummaryThe unprecedented global goals for climate change mitigation and adaptation established by the Paris Agreement in December 2015 will be pursued largely through domestic plans submitted by the 197 participating countries. These plans, known as Nationally Determined Contributions (NDCs), outline how each country will fight and adapt to climate change, including key goals and priority sectors. Thirty-two of 33 countries in Latin America and the Caribbean (LAC), representing more than 99 percent of LAC emissions, signed the Paris Agreement, and 25 countries, representing more than 77 percent of LAC emissions, have ratified it so far (WRI, 2016a; UNFCCC, 2017). Implementing NDCs will require large amounts of investment, and the Paris Agreement recognized the need to mobilize flows of finance toward low emission and climate-resilient development. Climate investment needs in LAC are forecast to rise to around $80 billion a year in the next decade—almost three times what the region invests today. As part of these efforts, at its annual meeting, the IDB Group committed to focus on projects that will help LAC countries implement their commitments to reduce greenhouse gas (GHG) emissions and to build resilience to climate change, and pledged to increase the share of climate finance to 30 percent of the portfolio by 2020. This study examines 12 national development banks (NDBs) and other domestic development finance institutions (DFIs) in Brazil, Mexico, and Chile to explore their current and potential roles in financing NDC implementation. These three countries represent more than 56 percent of LAC emissions. Domestic DFIs occupy a unique position in development landscapes, as connectors of international finance, domestic governments, and local private sector actors. They have the institutional support from governments and nuanced understanding of local sectors needed to provide finance and technical support and to mobilize climate investments that can help to meet NDC objectives. This is the first study of its kind to focus on what domestic DFIs in three large LAC countries are doing to mobilize investments for NDCs, the barriers they face in increasing climate finance, and opportunities they have to overcome them. It builds on and complements previous research from the IDB and the Climate Policy Initiative (CPI) on the roles of NDBs in catalyzing climate finance (Smallridge, Buchner, Trabacchi, et al., 2013), as well as analysis from the International Finance Corporation (IFC) on NDC financing needs in LAC (IFC, 2016a). The Investment GapThe shortfall between current climate finance flows and identified NDC investment needs in these three countries is large. Even with conservative estimates of NDC financing needs—which cover only a limited fraction of climate change mitigation objectives in the renewable energy, industrial energy efficiency, and infrastructure sectors—this gap is billions of dollars per year in Chile, tens of billions annually in Brazil and Mexico, and is particularly significant in the energy efficiency and urban infrastructure sectors (IFC, 2016a, b; Buchner, Mazza, and Falzon, 2016). The gap between tracked current adaptation spending and NDC adaptation objectives in these three countries is likely to be significant. Adaptation goals form an important part of all three countries’ NDCs but are often high-level goals and are not yet quantitatively defined. So far, there are no reliable estimates of the financing needs to achieve these goals. The challenges to domestic DFIs in identifying and structuring adaptation projects are reflected in a lack of investment—less than 2 percent of their climate finance flows went toward adaptation. Despite these challenges, surveyed domestic DFIs made more than US$11 billion in climate finance commitments in 2015. The vast majority of this financing (98 percent) went toward mitigation projects. Virtually all tracked climate financing came in the form of concessional or market-rate lending, most financing went to private-sector recipients (85 percent), and the predominant sector for climate financing investment was renewable energy (43 percent). Opportunities to Support Domestic DFIs in Increasing Climate Financing
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英文关键词 | climate finance financial institutions Latin America and the Carribean national development banks nationally determined contributions private finance public finance sustainability |
URL | 查看原文 |
来源平台 | Climate Policy Initiative |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/242508 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | Dario Abramskiehn,Karoline Hallmeyer,Chiara Trabacchi and Donovan Escalante. Supporting National Development Banks to Drive Investment in the Nationally Determined Contributions of Brazil, Mexico, and Chile,2017. |
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文件名称/大小 | 文献类型 | 版本类型 | 开放类型 | 使用许可 | ||
Supporting-National-(2046KB) | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 |
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