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Adaptation to Climate Change -- Vulnerability Assessment and Economic Aspects : Plurinational State of BoliviaThe Economics of Adaptation to Climate Change (EACC) study estimates that it will cost $75 - $100 billion each year for developing countries to adapt to climate change from 2010 to 2050 (World Bank 2009a). The study funded by the governments of the Netherlands, United Kingdom, and Switzerland has two specific objectives. The first is to develop a global estimate of adaptation coststo inform the international community s efforts on how to tailor adequate and sustainable support regarding new and additional resources to help vulnerable developing countries meet adaptation costs. The second objective is to support decision makers in developing countries to better evaluate and assess the risks posed by climate change and to better design strategies to adapt to climate change. The EACC study includes a global track to meet the first study objective and a case study track to meet the second objective. The country track comprises seven countries: Ethiopia, Mozambique, Ghana, Bangladesh, Vietnam, The Plurinational State of Bolivia, and Samoa.
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Accessing International Climate Change Related Finance in Latin America and the CaribbeanFinancing projects and programs to mitigate impacts of, and adapt to, the climate change is a matter of necessity not choice. This green expenditure policy note looks at factors facilitating the access to international financial instruments for Latin America and the Caribbean (LAC) countries that support mitigation of and adaptation to climate change. This policy note explores two questions: (i) does the quality of government institutions matter for enabling action aimed at mitigation or adaptation to the climate change?; and (ii) what financial instruments are available to governments in addition to own resources to address climate change challenges? This policy note aims to present them with advice on how to achieve greater access to international financing or co-financing of projects supporting renewable and alternative energy generation for transport, agriculture, housing, preservation of unique ecosystems, and other projects supporting sustainable development. This policy note describes the climate challenges facing the LAC region and then discusses the various climate financing flows. It discusses the factors affecting LAC countries' access to climate financing, and how countries can apply to several of the principal global and regional climate funds. The objective is to disseminate knowledge that will help governments of all LAC countries, and particularly finance ministries, understand and access new climate funds and financing mechanisms. The policy note consists of three parts: part one reviews the global landscape of the climate change financing for mitigation and adaptation and emerging trends, identifies various financial instruments, and presents an overview of the LAC's share of available finances from several public financing sources, both bilateral and multilateral. Part two reviews two case studies for Bolivia and El Salvador that demonstrate how each of these countries addresses environmental challenges through its policies, institutional systems and involvement of the civil society. Part three includes technical annexes, which represent a compilation of technical information presenting main climate change financial instruments. A list of global and specialized climate funds of possible interest to LAC countries appear in annex one. A complementary list of climate finance instruments appears in annex two, in which climate funds as well as financial tools are named, described, and categorized according to their primary purpose. A more detailed description of several of the largest climate funds including when such funds were founded, their purpose, and eligibility requirements are presented in annex three. Annex four provides a step-by-step description of how to apply to the largest climate funds. Annex five lists the LAC projects that have been supported by Global Environment Facility (GEF) by country.
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Monitoring Climate Finance and ODAThe first major part of this paper focuses on tracking, monitoring, and reporting various types of flows, primarily from ODA (Official Development Assistance) and other public sources but also from private sources. It briefly reviews available information on various current and upcoming financial and investment flows to support climate action in developing countries as a first step in assessing the challenges associated with monitoring such flows. It considers both climate finance (the amount of additional resources required to catalyze the shift of a much larger volume of public and private development investments to climate friendlier options) and underlying finance (the almost 10 to 20 times larger amount of financial and investment flows in developing countries that must increasingly focus on climate action). The next part of the paper focuses on possible ways of tracking additionality in ODA flows, with the aim of stimulating a discussion within the World Bank Group (WBG) and its partners on this issue. It describes the various perceptions of different groups of countries as well as possible baselines, benchmarks, and tools for tracking progress. Increasingly reliable, comprehensive, and transparent reporting is needed to demonstrate that new climate finance instruments are not introduced at the expense of those targeting other objectives. The final section provides proposals for further action by industrial and developing countries, the U.N. system and multilateral development banks (MDBs).