In March 2016, some colleagues and I visited several villages around Kaffrine in Senegal where private companies had been awarded licenses to provide electricity on a commercial basis. As we spoke to people, two things became very clear. The initial cost of connection to the grid was too high for many poor people, and the cost of electricity offered by the private companies (or “concessionaires”) were in several cases higher than what the government-owned utility offered in nearby areas.
Over the past decade and a half, Sub-Saharan Africa has experienced rapid economic growth at an average annual rate of 5.5%. But since 2008, the share of manufacturing in GDP across the continent has stagnated at around 10%. This calls into question as to whether African economies have undergone structural transformation – the reallocation of economic activity across broad sectors -- which is considered vital for sustained economic growth in the long-run.
- Biocarbon Fund
- Forest Carbon Partnership Facility
- Forest Investment Program
- Carbon Credits
- sustainable land management
- land management
- renewable energy
- solar energy
- Forest Management
- sustainable forest management
- Indigenous Communities
- Climate Change
- Latin America & Caribbean
When you think of online auctions, what products come to mind? Perhaps electronics, collectibles or concert tickets, but it’s unlikely that you think of climate finance. However, the Pilot Auction Facility for Methane and Climate Change Mitigation (PAF) recently combined the two, and for this, we are thrilled to be awarded Environmental Finance’s Carbon Deal of the Year 2016.
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Over the past year, people living in Bucharest, the capital of Romania, are seeing more bike lanes and metro stations in their city than before.
There are now about 122 km of cycling paths and four metro lines with 45 stations. It is a welcome sight in a city that suffers from air pollution and where many people tend to use private vehicles. Using bikes and the metro is cleaning up the city and, for some, is a quicker way to get around. And, as its popularity increases, it will likely lead to lower greenhouse gas emissions. Financing for this new development comes in part from the sale of carbon credits to Romanian power companies by the government, a welcome revenue stream for a stretched city budget.
Sub-Saharan Africa continues to suffer from a major energy deficit, with hundreds of millions of people lacking access to electricity and clean cooking fuels. There is a great need for innovative mechanisms that can help families access clean and affordable energy. The Carbon Initiative for Development (Ci-Dev) is one such mechanism.
A $125 million fund with a pipeline of 14 pilot projects in Africa, Ci-Dev will help improve living standards and sustainable energy through results-based finance. Along the way, it will generate valuable lessons in how reducing greenhouse gas emissions can generate tangible development benefits for local communities, like cleaner air, improved safety, and financial and time savings.
These lessons can help in the delivery and scale up of innovative climate finance business models.
In the village of Aharkandhi in northeastern Bangladesh, life has changed since homeowners began installing solar panels on their roofs. At night, families gather at the local grocery store to watch TV, which boosts business. Children study longer than before.
This is due in part to a World Bank-financed electrification project to promote off-grid electricity in rural communities. This year, the project became the first renewable energy program in Bangladesh to be issued carbon credits for lowering greenhouse gas emissions and the world's first Programme of Activities for solar home systems under the UNFCCC’s Clean Development Mechanism (CDM) to generate carbon credits.
With access to electricity, people are finding new ways to increase their income, and the word is spreading quickly across villages.
The APMG PPP Certification Program enables participants to take their skills to the next level, and the Certified PPP Professional (CP3P) credential is a means to officially convey that expertise and ability. Whether you’re thinking about signing up, or already enrolled, in this series we share some insight from practitioners who have already passed the test. This week, we caught up with Paul Barbour, Senior Risk Management Officer at the Multilateral Investment Guarantee Agency (MIGA). Read his answers below.
Night had descended and the rain that had persisted for days finally calmed when the Maputo Declaration of Community-Based Natural Resource Management (CBNRM) was finally agreed upon. But the result was worth the wait.
Last month, I drove through dust on bumpy dirt roads from Nairobi to visit the Oloirowua Primary School in Suswa, 140 kilometers northeast of the Kenya capital. The school sits on the vast savannah near Hell’s Gate National Park, an area with substantial geothermal potential.
At the school, classes are being taught outdoors and kids sit under a few trees with notebooks in their laps. Their old and crumbling school will soon be replaced by a new building that will accommodate 200 students. Their faces light up when they talk about the new school, and I feel thankful for being able to work with projects like this where I see the direct effects of our work on kids’ education.
A number of years ago, I started a journey with seven poor communities located about 380 kilometres southwest of Addis Ababa, by a mountain called Humbo. The idea was to allow a degraded mountain to regenerate, and the communities would earn carbon credits for their efforts.
I still hear this phrase echoing in my ears: “With the meager amount of resources they have, this is an impossible agenda”. But the communities were stubborn and dedicated, and last week, the project was issued 73,339 carbon credits (temporary Certified Emission Reductions, tCERs) for their efforts. Similar payments will add up to $700,000 over the next 10 years from the BioCarbon Fund.
The Humbo communities wanted to see a transformation because they knew that their lands had been stripped as a result of unregulated cattle grazing and massive clearance of vegetation to meet their excessive demand for timber, firewood and charcoal. Soil erosion and flooding had intensified as a result. They could see their farmlands increasingly covered with silt, cobbles and boulders. Above all, they could attest that their farmlands were losing fertility, becoming unproductive and yields were down.