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Climate Change and Economic Policies in APEC Economies : Synthesis ReportDrawing on several studies on APEC economies, this report discusses economic policy choices for mitigating and adapting to climate change effects. It highlights that APEC economies will have a central role in both sides of climate change. These economies include some of the largest emitters and also those among the most vulnerable to the impact of climate change. The report suggests that action on climate change will require a wide range of economic policy interventions, including most importantly fiscal policies. These will include setting carbon prices that cost emissions properly, liberalizing and strengthening markets so that prices and costs can be passed- through, offsetting other biases towards capital and emissions intensive economic growth and supporting technology based policies. On the adaptation side, the report emphasizes the importance of fiscal policy and investment choice tools that incorporate the uncertainty surrounding the nature and location of climate change effects. The report discusses how emissions reduction through appropriate climate friendly technologies (CFTs) can be an important complement to more politically sensitive mitigation measures (like carbon pricing). At the same time, CFTs can provide co-benefits like rural electrification. The current status of CFTs in APEC economies - their production, use and trade - are discussed along with technology neutral and technology specific policies and trade and investment policies that can support these technologies. Financing these policy interventions - both technology based and otherwise - will require various measures, including efficient market mechanisms that create incentives to reduce mitigation costs, facilitate financing of mitigation efforts through crediting mechanism and emissions trading, and setting up the necessary institutions. This report also considers policy responses to extreme climate events and their impact on the poor at the community level. Finally, since climate change is inherently of a cross-border, regional and even global nature, there is substantial scope for regional cooperation by APEC economies to address climate change issues. This report concludes with some initial thoughts on some key areas for this cooperation.
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Joint MDB Report to the G8 on the Implementation of the Clean Energy Investment Framework and Their Climate Change Agenda Going ForwardThe 2005 Gleneagles G8 summit in July
 2005 stimulated a concerted effort of the Multilateral
 Development Banks (MDBs) to broaden and accelerate programs
 on access to energy and climate change mitigation and
 adaptation through the Clean Energy Investment Framework
 (CEIF). At the Gleneagles summit, it was agreed that a
 report on the implementation of the CEIF would be prepared
 for the 2008 G8 (Group of Eight: Canada, France, Germany,
 Italy, Japan, Russia, the United Kingdom, and the United
 States) summit hosted by Japan. This joint report of the
 MDBs to the G8 summit in Hokkaido is intended to provide
 information on the outcomes and lessons learned under the
 CEIF, describe the collective MDB objectives for addressing
 the energy access and climate change challenges, and outline
 how the MDBs plan to build on the CEIF experience to date to
 more fully achieve these objectives. The report builds upon
 the 'the MDBs and the climate change agenda'
 report that was presented at the December 2007 Bali climate
 change conference. This report describes actions taken by
 each MDB to develop climate change strategies and programs
 of actions tailored to their particular client needs, based
 on resources and funding mechanisms currently available.
 Under the CEIF, the MDBs have strengthened collaboration on
 analytical work and programming and committed to expand this
 collaboration to optimize the impact of their collective
 actions. In addition to reporting on the status of the CEIF,
 this report outlines the collective ambition of the MDBs
 with respect to assisting the developing countries in
 meeting the climate change challenge, summarizes their
 evolving strategies designed to meet these objectives and
 the mechanisms through which they intend to achieve the
 necessary collaboration to optimize the collective impact of
 their climate change interventions.
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Impacts of Transmission and Distribution Projects on Greenhouse Gas EmissionsThe Strategic Framework for Development
 and Climate Change (SFDCC) approved in 2008 guides and
 supports the operational response of the World Bank Group
 (WBG) to new development challenges posed by climate change.
 One activity pursued by the SFDCC is to further develop and
 test methods to analyze climate risks and greenhouse gas
 (GHG) emissions at the project level. The SFDCC emphasizes
 the need to improve GHG accounting activities at the project
 level to understand the implications of the World
 Bank's interventions. The objective of this study is to
 contribute to the SFDCC goal of improving GHG accounting in
 the energy sector by reviewing, assessing, and recommending
 GHG accounting methodologies for electricity Transmission
 and Distribution (T&D) projects. Existing methodologies
 are examined to test whether they can provide simple and
 accurate estimates of net project emissions. In addition,
 the study identifies and conceptually designs a
 methodological approach for T&D projects. The study
 focuses on the T&D sector due to its importance in the
 World Bank's energy lending portfolio and the lack of
 comprehensive methodologies to determine the impact of such
 interventions on GHG emissions. The study builds on existing
 information and relies on methodologies developed under
 different climate finance mechanisms such as the Clean
 Development Mechanism (CDM). The study also considers some
 of the fundamental principles in other accounting
 procedures, such as corporate GHG accounting. Methodologies
 that have the objective of emissions accounting for climate
 finance mechanisms need to have specific characteristics,
 such as additionality and ex post monitoring. These
 methodologies must calculate a project's emissions
 reductions or increases by estimating the project's net
 emissions impact.