Climate Change

No country today is immune from the impacts of climate change.

• According to our most recent research, climate change could drive 216 million people to migrate within their own countries by 2050, with hotspots of internal migration emerging as soon as 2030, spreading and intensifying thereafter.
• Climate change could cut crop yields, especially in the world’s most food-insecure regions. At the same time, agriculture, forestry, and land use change are responsible for about 25% of greenhouse gas emissions. The agriculture sector is core to addressing the climate challenge.

Reducing emissions and becoming more resilient are possible, but require major social, economic and technological changes.

Priorities for climate action also differ significantly across countries and across sectors.

The urgency and scale of the challenge requires countries to learn quickly from each other, adapt to their own special circumstances, and be bold in implementing policies that bend the emissions curve and improve livelihoods.

• The challenge for developing countries is they no longer have an opportunity to develop first in a high carbon-intensive way and then clean up and decarbonize later. They need support today to make investments now to slow a changing climate and enable billions to live safer, more prosperous, inclusive and sustainable lives.
• If they are well designed and implemented, the policies countries put in place for low-carbon, resilient growth could also help them address poverty and inequality.

The Bank Group has a clear role to play in supporting our client countries so that they are prepared for the low-carbon, resilient transition, enabling them to build climate-smart economies that are green, resilient and inclusive.

Last Updated: Apr 08, 2022

The World Bank Group is today the world’s largest financier of climate action in developing countries – over $26 billion in 2021 alone – accounting for over half of multilateral climate finance to developing countries—and over two-thirds of adaptation finance.

• An urgent priority is to support a small group of high-emitting countries with the low-carbon transition - halting new coal and decommissioning existing coal-fired plants
• For the world’s poorest countries that account for less than one tenth of global emissions, support will drive investments in clean energy at scale, so they can avoid locking in to polluting infrastructure while achieving their energy access goals.
• Some climate impacts are now inevitable so all countries will need to invest in adaptation and resilience, and these needs will be very localized and specific.

In June 2021, the Bank Group released its second Climate Change Action Plan (2021-25), marking a paradigm shift in the Bank’s approach:  from investing in “green” projects to greening entire economies; and from inputs to measuring impacts.

Some key highlights include:

• A major push to further integrate climate and development on a number of fronts, but particularly through new Country Climate and Development Reports (CCDRs) will help inform the development strategies of individual countries in a manner that integrates climate and development.:
  • The Bank will make CCDRs public so that other donors, lending institutions or companies can also use them to guide their investments.
• A big step up on finance. The Bank Group set a target to commit 35% of its overall financing to climate finance on average over the five years of the Action Plan; and at least 50% of World Bank climate finance will support adaptation. The commitment to aligning financing flows with the Paris Agreement means that the Bank Group’s finance will account for climate considerations going forward.
• Ramping up support for countries to shape a green, resilient and inclusive recovery. A core part of the Action Plan focuses on key systems—energy; agriculture, food, water, and land; cities; transport; and manufacturing—that must be transformed to address climate change, achieve a resilient and low-carbon future, and support the protection of natural capital and biodiversity.
  • Accounting for over 90% of global greenhouse gas emissions, these systems face significant climate change impacts as well, making adaptation action critical across all five.
  • In addition, it will be essential to develop local capital markets and make greater use of these markets to fund private investments in climate adaptation and mitigation.
• The Action Plan also places a strong emphasis on approaches that integrate people and communities into the low-carbon transition; so rather than being left behind, they are beneficiaries of the new climate economy of the future.

Even with these ambitious new targets on climate finance, a sizeable financing gap remains and, along with multilateral institutions, both private and public sectors will have a vital role in financing the transition.

• Getting the right policies in place is a first, critical step: ranging from climate-proofing a financial system, to regulating vehicles or setting energy efficiency guidelines, to national climate plans, whether Nationally Determined Contributions to the Paris Agreement or Long Term Strategies for decarbonization.

Setting a clear low-carbon, resilient path sends a signal to the private sector. Trillions of dollars in global financial assets are held by banks, institutional investors, and asset managers.

• The Bank Group’s private sector arm, IFC, is deploying innovative platforms, creating and strengthening local capital markets and greening domestic financial sectors. These efforts will help generate opportunities for bankable projects and private capital to flow at scale for both mitigation and adaptation.
• Financial markets should also take a holistic approach to mainstreaming climate and sustainability in all their decision-making. The World Bank uses the Sustainable Development Bond label as a way to signal that climate and sustainability concerns are integrated across all of our work, regardless of sector, region or country.

Last Updated: Apr 08, 2022

The World Bank Group is the world’s largest financier of climate action in developing countries, providing over $26 billion in 2021 alone. In 2020, The Bank Group accounted for over half of multilateral climate finance to developing countries and over two-thirds of adaptation finance.

Selected sectoral results:

Energy

• In Ethiopia, the National Electrification Plan focuses on “last-mile service delivery” for households, schools and local health centers, with an emphasis on reliable and affordable access for all. The Bank is currently supporting the National Plan through a $375 million IDA credit that will help bring electricity to one million households, and pilot new approaches for off-grid electrification. In March 2019, Ethiopia launched an updated version of the Plan (NEP 2.0), which includes a detailed framework for the integration of off-grid technologies with grid connectivity to achieve universal access by 2025.
• The World Bank’s support to clean cooking totals more than $400 million in 21 countries—mainly in Africa and South Asia—helping 20 million people access cleaner and more efficient cooking and heating solutions.
• As part of a $775 million partnership, the $8.5 billion Climate Investment Funds is helping India expand its rooftop solar industry. In less than a year, the program has enabled close to 500 MW of new rooftop solar capacity. It is estimated that rooftop solar alone can save almost 2 billion tons of CO2 emissions and lead to nearly 50,000 jobs.
• In 2021, IFC supported one of India's leading renewable energy developers, Continuum Green Energy Ltd, to anchor its first green bond to help reduce greenhouse gas emissions and support a resilient recovery from COVID-19. The offering raised US$561 million and was heavily oversubscribed. Continuum is one of the largest providers of renewable power to corporates in the commercial and industrial sectors in India, with roughly 2 GW of wind and solar projects across the country. IFC's investment continues a relationship that began in 2014, when IFC financed Continuum's development of a wind farm in Madhya Pradesh.
• In the West Bank and Gaza, IFC and its development partners invested $18 million in a first-of-its-kind pioneering project to build solar arrays on top of 500 schools in the West Bank. This will provide 28 MW of clean electricity, enough to power the equivalent of 16,000 homes. IFC will also be providing a local currency loan to Massader to develop energy and infrastructure projects in the Palestinian territories.
• The Bank’s Carbon Initiative for Development (Ci-Dev) has emission reduction purchase agreements (ERPAs) for thirteen programs—twelve in Sub-Saharan Africa and one in Asia. Of these, six have had issuances of Certified Emission Reductions (CERs)—representing almost half of the portfolio.  In total they have achieved more than 360,000 tons of CO2 reductions through clean energy access programs ranging from low-carbon cooking programs in Lao PDR, Ethiopia and Madagascar, biodigester programs in Burkina Faso and Kenya, to solar energy and rural electrification programs in Ethiopia, Kenya and Uganda.
• In Uzbekistan, IFC committed a $17.5 million loan and a $17.5 million blended finance for the Navoi Scaling Solar project, a 100 MW solar PV plant. This is Uzbekistan’s first private sector infrastructure financing. IFC advised the government on the competitive bidding process, which resulted in the country procuring power at $2.679 cents / kWh for 25 years. The project is expected to start generating electricity in November 2021.
• In Nigeria, IFC committed a loan of up to US$20 million to Daystar Power to fund expansion of its operations in Nigeria. The Project is expected to increase reliability and affordability of electricity for customers who are currently facing unstable supply and will result in a reduction in GHG emissions and supports the decarbonization of the power sector, especially in Nigeria where an estimated 15GW of electricity is generated by diesel and petrol generators annually.

Adaptation and Resilience

• The Bank has committed that over the coming 5 years, 50% of IBRD and IDA financing will support adaptation and resilience.
• The World Bank has scaled up analytical work and metrics related to adaptation and resilience.
  • The Resilience Rating System, being piloted in 20 projects across all regions and covering a range of sectors, is helping us assess resilience across two dimensions: the resilience of a project’s design (whether it is resilient to risks from climate change and natural hazards); and the resilience gained through project outcomes (whether it builds the resilience of people and of the wider system).
  • The Adaptation Principles report lays out 6 universal principles (along with 26 actions, 12 toolboxes and 111 indicators) to help policymakers plan for adaptation.
  • The flagship report “Lifelines: The Resilient Infrastructure Opportunity” makes the case for more resilient infrastructure systems to minimize the wide-ranging consequences of disasters on the livelihoods and well-being of people. Tools and approaches developed through the Lifelines research are already being applied in a number of countries that have sought specialized technical assistance on the subject.
  • A GFDRR report, “Frontline: Preparing Heathcare Systems for Shocks from Disasters to Pandemics”, is the first World Bank study offering recommendations to better prepare health systems to respond to a wide range of shocks, from seasonal demand surges, to pandemics, climate change, and disasters.

• Some highlights of work underway with support from Global Facility for Disaster Reduction and Recovery (GFDRR):
  • In the Mozambican city of Beira, the World Bank and the government of Germany have jointly financed the creation of one of the largest urban parks in Africa, which serves as a nature-based solution to fight urban flooding and improves livelihoods for vulnerable citizens. The Bank financed interventions demonstrably strengthened the resilience of the city against the impacts of Cyclone Idai, which hit the city in 2019.
  • In Sierra Leone, an unconventional reforestation campaign, #FreetowntheTreeTown, is harnessing digital and disruptive technology to track trees planted and create employment opportunities (550 short-term jobs) especially for local youth during the COVID-19 pandemic. The campaign is helping to establish long-term climate resilience for the community and comes with ecosystem benefits that include reducing heat stress, improving air and water quality, and reducing flooding and landslide risks.

• In Bangladesh: CIF’s Coastal Embankment Improvement Project provides protection against tidal flooding and storm for more than 700,000 people and 66,000 hectares (has.) of highly productive land. It also focuses on improving agricultural production by reducing saline water intrusion in selected polders. The project has upgraded 243 kilometers (km) of coastal embankments and 158 km. of drainage channels. The project has also completed the protection works for 9 km of riverbanks and 18 km of slopes and afforestation of 340 has. of land. These interventions have helped Bangladesh to mitigate the impacts of cyclones and flooding, as well as improve emergency responses in the coastal region.

Transport

Between FY17-20, the Bank committed a total of $3.7 billion to support low-carbon and resilient transport infrastructure, policies, and planning.

• In Dakar, Senegal, the Bank is working with partners to help develop a new transport system aimed at moving 300,000 passengers per day. The Dakar Bus Rapid Transit (BRT) Pilot Project will improve travel conditions and reduce by half the average rush hour in-vehicle travel time by public transport. Senegal's NDC lists the BRT as central to reducing the country’s transport-related carbon emissions.
• In Bangladesh, the Bank supported the development of the country’s inland waterway transport sector. Through a pilot exercise some of Bangladesh’s cargo transport along the Dhaka-Chittagong corridor is shifting to inland waterways which would reduce emissions in line with the country’s NDC, lower transaction costs for suppliers and improve the reliability and efficiency of freight transport in the country.
• In the face of growing climate risk, the Bank is working with client countries to design more resilient infrastructure, enhance maintenance, and build alternative connections between strategic points. In Mozambique, following cyclones Idai and Kenneth, the Bank’s $110 million Integrated Rural Roads Development Project, re-established links between agricultural product growers and consumers and restored communities’ access to education and health services, helping the country recover. Also in Mozambique,  CIF and the Bank are supporting  technical work for climate-resilient road design to help rehabilitate and strengthen over 300 km of flood-damaged roads and vital infrastructure: an approach which has helped revise national design standards and specifications for roads and has been adopted by the Government nationwide.
• Due to their size and location, Small Island Developing States are disproportionately affected by climate change. In a bid to enhance their overall climate resilience, the Bank has substantially increased assistance to the transport sector in many of these countries, with a clear focus on adaptation. For instance, the Pacific Climate-Resilient Transport Program is currently under implementation in Samoa, Tonga, Tuvalu, and Vanuatu, with more countries expected to join in a second phase.
• In Bogota, Colombia, IFC is supporting the development of the TransMicable cable cars that link low-income neighborhoods with the primary bus system, and the expansion of the TransMilenio corridors (BRT system) with a financing package of $140 million.  IFC is also supporting the city in enhancing its environmental and social standards, in particular, a community engagement program in one of the poorest areas of Bogota. The cable car project has reduced commute times for the poorest residents from 2 hours to 13 minutes and increased access to jobs.
• In January 2020, a vehicle scrapping and recycling program in Egypt  delivered  340,000 certified emissions reductions in its contract with the Facility’s Participants. More than 41,000 new taxis – over 90% of Cairo’s taxi fleet – replaced aging taxis in the city, some of which were over 50 years old. This project has reduced accidents as well as pollutants affecting air quality and human health.
• The World Bank-CIF’s Enhancing the Climate Resilience of the West Coast Road Project in Samoa provides both technical assistance and actual investment support to improve the capacity of the government to design road infrastructures that can cope with the impacts of climate change. The project is helping develop a more climate resilient road network: it has climate-proofed 12 km of the eastern section of the West Coast Road, installed 17 new rainfall outfall channels to improve drainage; and provided vegetated scour protection along sea walls, with the participation of local communities.

Food and Agriculture

• Climate change and agriculture are closely linked. The fast pace of climate change is challenging farmers’ ability to adapt and cutting into their livelihoods. Agriculture is also a major part of the climate problem. Together with forestry and land use change, it generates up to 29% of total GHG emissions. 

• To help secure the triple win of higher agriculture productivity, increased resilience to climate change and lower greenhouse gas emissions, we need to accelerate and scale the adoption of climate-smart innovations. Despite its importance, only 3 percent of climate finance has been going to agriculture. A substantial increase in financing is needed to provide farmers with the resources they need to adopt climate-smart, green technologies. 

• A new report by the World Bank and IFPRI finds that repurposing a portion of public support to agriculture toward research and development and green innovations could both reduce emissions and enhance productivity to meet growing demand for food and ensure food security. These technologies include feed supplements that reduce livestock emissions while increasing productivity, and rice production systems that use less water and produce less methane, without compromising farmers’ incomes and yields.  

• In particular, transforming food systems so that they are more resilient is urgent at a time when hunger and food prices are rising in the face of multiple shocks, including climate change, conflict, rising energy prices and other economic disruptions.  

• In Africa, a three-year project financed by IDA to accelerate the impacts of CGIAR climate research in Africa (AICCRA) will provide better access to climate information services and validated climate-smart agriculture technologies in six countries —Senegal, Ghana, Mali, Ethiopia, Kenya, and Zambia – to help farmers and livestock keepers better anticipate climate-related events and take preventative actions, to safeguard their activities and avoid catastrophic losses. 

• In West Africa, a new $570 million IDA Food Systems Resilience Program will simultaneously increase agricultural productivity through climate-smart agriculture, promote intraregional value chains and trade, and build regional capacity to manage agricultural risk. 

• Learning lessons from climate-induced disasters, COVID-19 and the 2007-2008 food price crisis when rice prices reached historical highs, Bangladesh is investing in improved grain storage facilities with World Bank financing, to increase the storage capacity of Bangladesh’s national strategic grain reserves by 535,500 tons for 4.5 million households. Large steel silos are replacing older brick storerooms, helping reduce food loss and waste and preserve the nutritional quality of grain. The investment safeguards food and nutrition security and mitigates climate change.

• In Burkina Faso, a CIF-supported portfolio, which includes the WB Decentralized Forest and Woodland Management and the Dedicated Grant Mechanism (DGM) projects, is helping the government, indigenous people, and local communities to implement a coherent vision of integrated community-based rural development to combat agricultural expansion, overgrazing, and the exploitation of firewood and non-timber forest products. Climate resilient agricultural practices, sustainable management and reforestation activities in 320,527 hectares have benefited more than 350,000 people and led to a GHG emission reduction of 2.9 MtCO2e. The DGM itself is implementing 85 micro- and subprojects and providing livelihoods benefits to 130,219 individuals.

Forests and Landscapes

• The Forest Carbon Partnership Facility (FCPF) has now signed 15 Emissions Reduction Payment Agreements (ERPAs) with a total contract value of over $720m, committing to reduce emissions through reforestation programs by more than 145 million tons of carbon to 2025. The 15 FCPF countries are: Chile, Costa Rica, Côte d'Ivoire, Dominican Republic, DRC, Fiji, Ghana, Guatemala, Indonesia, Laos PDR, Madagascar, Mozambique, Nepal, Republic of Congo and Vietnam.
• In July 2021, Mozambique became the first country in the world to receive payment from the FCPF for reducing emissions from deforestation and forest degradation—commonly known as REDD+.  The payment - of $6.4 million dollars for reducing 1.28 million tons of carbon emissions since 2019 - is the first of four under the country’s Emission Reductions Payment Agreement (ERPA) with the FCPF that could unlock up to $50 million for reducing up to 10 million tons of C0₂ emissions in Mozambique’s Zambézia Province by the end of 2024.  This milestone that signals reductions in greenhouse gas emissions generated from forest conservation and other sustainable land uses have a central place in international carbon markets.
• For decades, illegal hunting and overfishing in Colombia’s Orinoquia region contributed to significant biodiversity loss. But leveraging financing opportunities can support new economic options for local communities, while also helping to preserve the enormous biodiversity, carbon and ecosystem value of the region. The World Bank’s BioCarbon Fund Initiative for Sustainable Forest Landscapes aims to support these efforts by building an enabling environment in Orinoquia for economic growth in harmony with environmental conservation.
• In Peru, the  Dedicated Grant Mechanism (DGM) project has supported Improvement of forest management in indigenous communities. The project has financed activities to reforest or improve the natural regeneration of forests, traditional agriculture, use and conservation of indigenous medicine, agroforestry to improve biodiversity and indigenous landscape management practices in Loreto, San Martin, Atalya, Madre de Dios and Ucayali. In addition, the project has supported the demarcation of  48 native communities; titled 42,280 beneficiaries and 212,486  hectares of native community lands in high threat areas, and  facilitated the  recognition process  of 217 native communities and their registration  the public registry.

Cities

• As the world continues to urbanize, how cities are built and managed – especially over these coming two decades - will determine the trajectory of GHG emissions and safeguard development gains for future generations.
• By making the right low-carbon climate resilient investments and tackling deep-seated inequalities, especially in terms of access to land, housing and services, and protection against the impacts of natural hazards that disproportionately affect the poor and vulnerable, governments and city leaders can create much-needed jobs and transform their economies so that they are more inclusive, resilient and sustainable.
• In recent years, the Bank has worked in cities and towns across over 140 countries, investing between $5 and $6 billion per year in urban and disaster risk management projects.
• The Bank and the European Investment Bank are implementing the City Climate Finance Gap Fund, a new partnership supporting the development of a pipeline of climate-smart investment projects to enable green, inclusive, resilient, creative, and competitive cities in developing countries. Through donor support, technical assistance, and targeted finance of at least €100 million, the Gap Fund aims to unlock an estimated €4 billion to help cities transform climate ambition into finance-ready projects.
• The City Resilience Program (CRP) – a partnership between the Bank and GFDRR – is a multi-donor initiative for mainstreaming risk considerations in planning and increasing financing for urban resilience. As a starting point for engaging with cities to support them in effectively planning for resilience, the CRP has delivered 55 City Scans which provide a series of maps, visualizations, and analysis which spatially lay out the city’s risk information and the built environment.
• Urban resilience goes hand in hand with environmental sustainability. The World Bank’s Global Platform for Sustainable Cities is a partnership and knowledge platform to promote integrated solutions and cutting-edge knowledge for cities seeking to improve their resilience and overall urban sustainability. The Platform includes 28 cities across 11 countries that have received $151 million from the Global Environment Facility and leveraged $2.4 billion in project co-financing.
• As part of its focus on cities, IFC analysis estimates that there is a $24.7 trillion opportunity in green buildings in emerging market cities to 2030 and showing how financiers, governments, developers and building owners can take the lead in shaping and accelerating this multitrillion-dollar business opportunity.
• IFC created the EDGE (Excellence in Designing Greater Efficiencies) program to respond to the need for a measurable and credible solution to prove the business case for building green and unlock financial investment. EDGE helps developers design buildings that reduce their buildings’ energy and water consumption by 20 percent while lowering GHG emissions. Through a cloud-based App, builders can assess these savings early on, and then make sure their buildings reduce energy and water use, in turn lowering the monthly utility bills for owners and tenants. EDGE is available in most countries and will soon be a global tool. As of November 2020, EDGE has certified over 14 million square meters of space, consistent with international financial and disclosure standards such as ICMA, Climate Bonds Initiative, EU Taxonomy, GRESB, and CDP.
• Since 2005, IFC has committed $4.2 billion to green buildings and mobilized $1.6 billion from other investors. IFC’s investments improve building efficiency, leading to cost savings and reductions in greenhouse gas emissions across homes, hospitals, commercial real estate, warehouses, and airports. In FY20, IFC committed $362 million of own-account in green buildings, mobilizing an additional $215 million for a total of $577 million.

Water and Waste

• In Brazil, IFC signed a $56 million green and sustainability linked A loan to Companhia Riograndense de Saneamento (Corsan) a state-owned water utility in June 2021. This is IFC’s first sustainability-linked loan in infrastructure in Latin America and second in the water sector globally. The investment will support Corsan's water loss program and energy efficiency improvement efforts through network replacement and substitution of obsolete electric pumps and hydrometers.
• IFC committed a $30 million loan (in local currency equivalent) to IZSU, the water utility of the City of Izmir, Turkey, in order to upgrade its water treatment and supply Infrastructure. This investment is the first sustainability-linked loan for IFC and first long term local currency loan to a Turkish municipal client from an international lender. The proceeds will be used for eight sub-projects in three areas, network pipeline construction, greenfield potable water treatment plant, and replacing and rehabilitating the water supply trunk. This will reduce wastewater collected in tanks, provide better quality drinking water, and improve water supply reliability. 
• In August 2020, IFC committed a $60 million investment in ALBA Asia Group which is a pan-Asia waste management and recycling company. The company focuses on waste treatment, bio waste management, plastics recycling, and smart city waste solutions. IFC’s investment will support eight waste and bio waste projects in China, mostly in frontier regions. It supports the WBG’s focus on promoting circular economy business models, in particular to help enhance environmentally sustainable waste management in the region.
• In Belgrade, Serbia, IFC and partners provided a €260 million package to transform the Vinča landfill into a new sanitary landfill, a waste-to-energy plant and a construction waste recycling unit. The project helps address the challenge of municipal waste management, curb air and water pollution, and contribute to the city’s electricity grids for the next 30 years.

Innovative Partnerships

• The Coalition of Finance Ministers for Climate Action, launched in April 2019, is a group of finance ministries that collaborate on strategies to integrate climate into economic and financial policies. The Coalition’s 67 member countries represent different geographic regions and levels of economic development, and collectively account for about 40% of global energy-related CO2 emissions and 64% of global GDP (based on 2018 data).
  • In 2019, the Coalition endorsed the Helsinki Principles -- a set of six principles that promote national climate action through fiscal policy and which guide the Coalition's work – and  launched the Santiago Action Plan detailing how progress will be made on each of the Helsinki Principles.
  • Since the onset of the COVID-19 pandemic, the Coalition's work has focused on supporting green, resilient, and inclusive recovery and growth strategies among its Members and has highlighted the need to mainstream climate into economic and financial policies.

• Innovate4Climate (I4C) is the World Bank Group’s flagship climate action event that promotes a global dialogue between the public and private sectors, showcasing the opportunities and innovations for low-carbon, resilient development. I4C brings together national and corporate leaders to foster the exchange of knowledge and best practices and promote investments in proven transformative climate-smart solutions.
  • I4Cs 2022 edition will be held virtually over 3 days, from May 24-26 2022. The three day program includes high-level plenaries and workshops looking at how to achieve a resilient and low-carbon future, with opportunities for public and private sector organizations to showcase their climate action initiatives and engage with each other.

• The Carbon Pricing Leadership Coalition (CPLC), a World Bank Group initiative, brings together leaders from national and sub-national governments, the private sector, and civil society with the goal of promoting the use of effective carbon-pricing policies to support ambitious climate action and contribute to sustainable development.
  • The Task Force on Net Zero Goals and Carbon Pricing, comprised of senior representatives from government, the private sector, and civil society, released a report on its findings on net zero targets and commitments and the role of carbon pricing in achieving them.

• The Partnership for Market Readiness – which came to a close in June 2021 after 10 years– brought together more than 30 countries whose actions are critical to global climate mitigation efforts. The PMR supported countries as they embarked on the journey of assessing, designing, and deploying carbon pricing and other innovative policy instruments to scale up domestic greenhouse gas mitigation, while providing a platform for countries to work together to shape the future of cost-effective mitigation action.  

• Its successor program, the Partnership for Market Implementation assists countries to design, pilot, and implement pricing instruments aligned with their development priorities. Envisaged as a 10-year program with a capitalization target of US$250 million, the Partnership brings an ambitious and long-term vision for the viability of carbon pricing. It will support the direct implementation of carbon pricing in at least 10 developing countries and help a further 20 countries get ready to do so.
• The Climate Warehouse explores an ecosystem to demonstrate a decentralized IT approach to connect climate markets. Information about mitigation outcomes (MOs) is collected in a variety of repositories including spreadsheets, data management systems, and registries. The objective of the Climate Warehouse is to enhance transparency and trust among market participants and enable tracking of MOs across jurisdictions. The Climate Warehouse would not hold assets or directly facilitate transactions.
• The Climate Market Club, a group of national governments that jointly develop modalities for piloting Article 6 of the Paris Agreement established together with the MDB Working Group, was formed on the basis of mutual understanding and commitment from all members to make efforts to adhere to and implement the principles of ensuring environmental integrity, avoiding double counting, and following the rules of guidance that emerge from the international negotiations.

• The Connect4Climate (C4C) global partnership program of the Communications for Climate Change Multi Donor Trust Fund connects over 500 organizations to drive global and local climate action through advocacy, operational support, research and capacity building.
  • Following the success of the #Youth4ClimateLive Series, a run of monthly online discussions between young climate leaders and policy experts, C4C was a key partner on the Italian Government’s landmark Youth4Climate: Driving Ambition event in Milan, held just before Pre-COP26. The event saw nearly 400 youth delegates from around the world come together to draft the Youth4Climate Manifesto.
  • Further supporting young climate leaders, C4C partnered with the Global Youth Climate Network (GYCN), an initiative of the Youth-to-Youth community, to select a 2022 cohort of Max Thabiso Edkins Climate Ambassadors, so named to honor the memory of beloved Connect4Climate ambassador Max Thabiso Edkins. Those chosen are now working to ramp up their climate action, develop novel solutions, and launch campaigns in their communities while engaging directly with Connect4Climate and GYCN, broadening their climate knowledge, strengthening their leadership skills, and engaging with GYCN’s ever-expanding network of young climate champions.

Last Updated: Apr 08, 2022