Welcome!

Apache Authors: Elizabeth White, Pat Romanski, Liz McMillan, Christopher Harrold, Janakiram MSV

News Feed Item

Global Annual Climate Finance Reaches USD 364 Billion, Falls Short Of Investment Needed To Limit Global Warming To Two Degrees Celsius

DOHA, Qatar, Dec. 3, 2012 /PRNewswire-USNewswire/ -- A new report released today, The Global Landscape of Climate Finance 2012, produced by Climate Policy Initiative (CPI), shows that global annual investment to curb climate change reached approximately USD 364 billion in 2010/2011.

This amount, while significant, falls short of most estimates of investment needed to limit global warming to two degrees Celsius. According to the International Energy Agency, approximately USD 1 trillion each year is needed in incremental investment in the energy sector alone to promote low emissions growth. Much more will be needed to achieve climate resilient development globally.

Building a complete picture of climate finance flows is critical to understanding how much, and what type of support, is available to curb and address climate change. The Global Landscape of Climate Finance 2012 provides the most comprehensive global climate finance mapping effort to date.

According to the report, the private sector was the main source of global climate finance, contributing between USD 217 and 243 billion, mostly from corporations and renewable energy project developers. Public sector investment totaled between USD 16 and 23 billion globally. Most public sector investment acted as a catalyst for private investment through incentive mechanisms and subsidies that helped to lower investment costs.

Public and private intermediary organizations such as national development banks and commercial banks also played an important role, raising and channeling between USD 110 and 120 billion, and often providing support for projects that would otherwise not be viable.

"The fact that the public policies and incentives are starting to unlock private investment is good news for policymakers dealing with limited budgets," said Barbara Buchner, Director, CPI Europe, and one of the principal authors of the report. "However, the level of available investment still falls far short of the total amount needed to limit global warming to two degrees Celsius. We must focus on the policies that are working and act quickly to scale those up around the world."

One place to look for examples of how to encourage private investment may be in Germany. According to a related CPI report, The German Climate Finance Landscape, which will be released later this month, the private sector provided more than 95% of total climate finance in Germany, about half of which was supported by concessionary loans from public development banks.

The Global Landscape report also provided insights on how and where climate finance was used. Emerging economies were key recipients of climate finance, but were also important sources. Roughly one third of global climate mitigation investments were located in China, Brazil, and India, a significant share of which was raised domestically and invested in pursuit of national development mandates.

For more information, and to download the report, visit www.ClimatePolicyInitiative.org.

Climate Policy Initiative (CPI) is a global policy effectiveness analysis and advisory organization. Its mission is to assess, diagnose, and support nations' efforts to achieve low-carbon growth. An independent, not-for-profit organization with long-term support from George Soros, CPI's headquarters is in San Francisco and regional offices are in Berlin, Beijing, Hyderabad, Jakarta, Rio de Janeiro, and Venice.

SOURCE Climate Policy Initiative

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.