Publications

DETERring Deforestation in the Brazilian Amazon: Environmental Monitoring and Law Enforcement

May 8, 2013

We estimate that DETER-based environmental monitoring and law enforcement policies prevented the clearing of over 59,500 km2 of Amazon forest area from 2007 through 2011. Deforestation observed during this period totaled 41,500 km2 – 59% less than in the absence of the policy change. We also find that the policy change had no impact on agricultural production.
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Como DETER o Desmatamento na Amazônia – Apenas sumário executivo – Português(735.29kb)
DETERring Deforestation in the Brazilian Amazon – Executive Summary Only – English(731.97kb)
DETERring Deforestation in the Brazilian Amazon – Technical Paper Only – English(1.99MB)

The Policy Climate

April 15, 2013

In The Policy Climate, we offer an overview of policy issues relevant to climate change across the world. We find that the implementation of policy relevant to climate change, and its impact, accelerated markedly over the last decade, despite the slow pace of international climate negotiations.
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The Policy Climate(5.34MB)

Buildings Energy Efficiency in China, Germany, and the United States

April 9, 2013

This report compares energy efficiency policy in buildings in China, Germany, and the United States, providing the context for, and ...
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Buildings Energy Efficiency in China, Germany, and the United States(1.03MB)

The Challenge of Institutional Investment in Renewable Energy

March 7, 2013

Institutional investors, which together manage assets of over $70 trillion, often have investment objectives that are aligned with the investment profile of infrastructure. At first glance, access to this large pool of capital and the alignment of objectives should help lower the costs of financing renewable energy. In this study, CPI finds that while these investors could supply a significant share of the total required investment, various factors limit the extent to which they can invest in a way that could lower the cost of financing renewable energy. Furthermore, financial regulation of institutional investors, regulation of energy markets, and renewable energy policy, often create additional obstacles to renewable energy investment.
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The Challenge of Institutional Investment in Renewable Energy(2.02MB)

Does Credit Affect Deforestation? Evidence from a Rural Credit Policy in the Brazilian Amazon

January 29, 2013

Does Credit Affect Deforestation? takes a look at Resolution 3,545, which placed conditions on farmers seeking rural credit concessions in the Brazilian Amazon Biome. Our analysis suggests that Resolution 3,545 helped curb deforestation in the Brazilian Amazon Biome. We estimate that the resolution prevented approximately BRL 2.9 billion (USD 1.4 billion) in loans from 2008 through 2011. This reduction in credit in turn prevented over 2,700 km2 of forest area from being cleared, which represents a 15% decrease in deforestation in the biome during the period.
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Does Credit Affect Deforestation – Technical Paper – English(2.31MB)
Does Credit Affect Deforestation – Executive Summary – Portuguese(675.13kb)
Does Credit Affect Deforestation – Executive Summary – Bahasa(672.46kb)
Does Credit Affect Deforestation – Executive Summary – Spanish(674.82kb)
Does Credit Affect Deforestation – Executive Summary – English(675.97kb)

Risk Gaps

January 21, 2013

Risk — whether real or perceived — is the single most important factor preventing renewable energy projects from finding financial investors, or raising the returns that these investors demand. It is also one thing that policymakers can cause, control, alleviate, or help mitigate. In a series of three studies, titled Risk Gaps, CPI maps the availability of risk instruments against demand and analyzes several new, potential instruments designed to address the biggest gaps: first-loss protection instruments and policy risk insurance.
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Risk Gaps: A Map of Risk Mitigation Instruments for Clean Investments(877.98kb)
Risk Gaps: First-Loss Protection Mechanisms(798.75kb)
Risk Gaps: Policy Risk Instruments(778.36kb)
Risk Gaps: Executive Summary(583.26kb)

Effective Green Financing: What have we learned so far?

December 11, 2012

Overall, while policies and public resources are affecting the performance of investments in ways consistent with low carbon growth, more action is required to help private actors overcome real and perceived risks — in developing and developed markets — and deliver green investments at large scale.
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Effective Green Financing – What have we learned so far?(383.35kb)

Meeting India’s Renewable Energy Targets: The Financing Challenge

December 5, 2012

The cost and terms of the debt available in India to finance wind and solar projects is a major problem, increasing the cost of renewable energy by up to a third compared to similar projects in the U.S. and Europe.
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Meeting India’s Renewable Targets – The Financing Challenge(883.96kb)

Falling Short: An Evaluation of the Indian Renewable Certificate Market

December 5, 2012

We evaluate the effectiveness of Indian REC markets against eight government objectives and find that this program is not likely to achieve government objectives.
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Falling Short- An Evaluation of the Indian Renewable Certificate Market(565.72kb)

Global Landscape of Climate Finance 2012

December 3, 2012

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.
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The Landscape of Climate Finance 2012(1.53MB)
The Landscape of Climate Finance 2012 – Executive Summary(216.91kb)
Landscape of Climate Finance 2012 – webinar presentation(1.20MB)

German Landscape of Climate Finance

November 30, 2012

By compiling data from a wide range of sources, we create the most comprehensive snapshot to-date of the current state of German climate finance. Our research suggests that EUR 37 billion, or 1.5% of GDP, was invested in 2010 to support the German transition to a low-carbon economy. The private sector provided more than 95% of this finance.
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The Landscape of Climate Finance in Germany – Webinar slides(847.07kb)
The Landscape of Climate Finance in Germany – Annexes(1.70MB)
Landscape of Climate Finance in Germany – Full Report(1.66MB)
Landscape of Climate Finance in Germany – Executive Summary – in English(626.70kb)
Landscape of Climate Finance in Germany – Executive Summary – in German(803.86kb)

Tracking Emissions and Mitigation Actions: Learning from MRV Systems in China, Germany, Italy, and the United States

November 27, 2012 (Updated from May, 2012)

CPI has engaged in an effort to characterize, evaluate, and draw insights from existing domestic MRV systems for emissions and mitigation actions in four of the major emitters – China, Germany, Italy, and the United States.
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Learning from Emissions and Policy Tracking Systems – Webinar Slides(120.73kb)
Tracking Emissions and Mitigation Actions – Current Practice(1.54MB)
Tracking Emissions and Mitigation Actions – Evaluation(790.74kb)
Meeting Emerging MRV Needs – Are Countries Prepared?(414.54kb)
Tracking Emissions and Mitigation Actions – Factsheet(290.59kb)

Clearing the Air: Carbon Pricing and Local Air Pollution in California

September 21, 2012

This report examines how industrial facilities respond to cap and trade, and shows that the most likely responses will reduce air pollution as well as greenhouse gas emissions. This is supported by evidence that Europe’s cap and trade system has reduced local air pollution from oil refineries and other industrial facilities.
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Clearing the Air: Carbon Pricing and Local Air Pollution in California(549.54kb)

Supporting Renewables While Saving Taxpayers Money

September 16, 2012

Renewable energy deployment in the United States is booming. Though this growth was financed largely through private investment, state and federal policies have played a key role. This report shows the federal government could sustain support for wind and solar at much lower cost to taxpayers by replacing current tax credits with cash incentives.
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Supporting Renewables while Saving Taxpayers Money(842.36kb)

San Giorgio Group Case Studies

August 28, 2012

Climate Policy Initiative is examining a series of case studies to determine how the use of public money can catalyze and incentivize private investment in low carbon technologies, and to draw lessons for scaling up green finance.
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Ouarzazate I Concentrated Solar Power – Morocco – SGG Case Study – Summary Poster(207.49kb)
Ouarzazate I Concentrated Solar Power – Morocco(1.22MB)
Prosol Tunisia – SGG Case Study(1.43MB)
Walney Offshore Windfarms – SGG Case Study(1.12MB)

Public Climate Finance: A Survey of Systems to Monitor and Evaluate Climate Finance Effectiveness

July 18, 2012

This paper examines the M&E systems applied by a selection of eight multilateral and bilateral intermediaries, as well as the United Nations Framework Convention on Climate Change reporting framework. It was originally developed as a background paper for ‘Improving the Effectiveness of Climate Finance: Key Lessons’, a joint study by a consortium of researchers from Environmental Defense Fund, Climate Policy Initiative, Brookings Institution, and Overseas Development Institute on the topic of the effectiveness of climate finance published in November 2011.
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Public Climate Finance – Survey(1.02MB)

Limiting the Cost of Renewables – Lessons for California

June 4, 2012

To support CPUC in the development of a cost limitation for California’s RPS, Climate Policy Initiative reviewed experience in a number of states with costs limits in renewable energy policies. Our qualitative analysis reveals several general lessons about cost limits and their role in renewable energy policy, and points to recommendations for California.
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Limiting the Cost of Renewables-Lessons for California(564.16kb)

Energy, the U.S. Budget, and Climate Change

March 28, 2012

This paper puts these programs in the broader context of energy-related activities in the federal budget and provides a starting point for further discussion and analysis of the federal government’s role in energy and climate change. We outline the landscape of federal spending and revenue collection activities that substantially influence energy supply or use in 2010, organized by the type of policy tool or mechanism supported.
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Energy US Budget and Climate Change(588.51kb)

Deforestation Slowdown in the Legal Amazon: Prices or Policies?

March 21, 2012

Our analysis shows that approximately half of the deforestation that was avoided in the Amazon in the 2005 through 2009 period can be attributed to conservation policies introduced in the second half of the 2000s. This is equivalent to an avoided loss of 62,000 km2 of forest area, or approximately 621 million tons of stored C, which is valued at 11.5 billion US dollars.
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Deforestation – Prices or Policies Working Paper(834.92kb)
Deforestation – Prices or Policies – Executive Summary – English(344.27kb)
Deforestacion – Precos ou Politicas – Sumario Executivo – Portuguese(425.23kb)
Deforestacion – Precios o Politicas – Sinopsis – Spanish(417.31kb)
Penebangan hutan di Amazon – Harga atau Kebijakan – Ringkasan Eksekutif – Bahasa(425.86kb)
Deforestation – Prix ou Politiques – Resume executif – French(399.95kb)

European Electricity Infrastructure: Planning, Regulation, and Financing

January 24, 2012

Investment in European electricity transmission requires facilitation at the European level. The rate at which renewable energy is integrated into ...
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EU Grid Workshop Summary 2012.01.25(356.61kb)

Tax Incentives for Thermal Retrofits in Germany: Experiences from Practicioners

The building sector is a key focus area of the Energy Concept of the German Federal Government, among other reasons ...
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Steuerliche Förderung von energetischen Sanierungen: Erfahrungen aus der Praxis(416.62kb)
Tax Incentives for Thermal Retrofits – English language(664.54kb)

Improving the Effectiveness of Climate Finance

Published 23 November 2011

A joint study by Environmental Defense Fund, Climate Policy Initiative, Brookings Institution, and Overseas Development Institute.
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Improving Effectiveness of Climate Finance: Key Lessons(738.29kb)
Improving the Effectiveness of Climate Finance: A Survey of Leveraging Methodologies(673.90kb)

Annual Review of Low-Carbon Development in China (2011-2012)

Published November 2011

This review explores China’s low-carbon development efforts under the 11th FYP period. What drove the decline in energy intensity? How did government actions contribute to this decline? What are the implications of China’s experience for the 12th FYP?
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Annual Review of Low Carbon Development Executive Summary(415.10kb)
Annual Review of Low-Carbon Development Chapter Summaries(441.16kb)

The Landscape of Climate Finance

Published October 2011

In this paper, CPI assesses the current status of the climate finance landscape, mapping its magnitude and nature along the life cycle of finance flows, i.e. the sources of finance, intermediaries involved in distribution, financial instruments, and final uses.
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Climate Finance Executive Summary(406.37kb)
The Landscape of Climate Finance(1.48MB)

The Impacts of Policy on the Financing of Renewable Projects: A Case Study Analysis

Published October 2011

CPI studied six large-scale renewable electricity generation projects in the United States and Europe to evaluate how policy affects project economics, as well as the cost and availability of financing.
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Policy Impacts on Financing of Renewables(751.97kb)

Smart Power Market Project

Published January-September 2011

Decarbonizing the EU power system involves more than investment in generation and grid – it requires a smart power market as well. A new study led by CPI shows that the current EU power market design does not effectively support European member states’ plan to connect 200GW of wind and solar power to the transmission system by 2020.
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Smart Power Market Executive Summary(691.46kb)
Smart Power Market Project Overview(699.51kb)
Technical Aspects of Nodal Pricing Workshop Report(211.61kb)
Nodal Pricing Implementation Q&A Paper(830.10kb)
Quantitative Simulation Paper(1.63MB)
Intraday and Wind Integration Paper(1.30MB)
Congestion Management Paper(451.67kb)

The German Energy Concept: Policies to Support the Thermal Retrofit of Buildings

Published May-September 2011

Efficiency improvements in the building sector are a key component of the German Energy Concept. The stated objective of the Concept is a 20% reduction in the heat requirement of buildings by 2020, so as to achieve an 80% reduction in the primary energy requirement by 2050. In these CPI reports and briefs, CPI analysis addresses questions emerging from the review of policy instruments and programs focused on this objective.
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Drivers of Thermal Retrofit Decisions – A Survey(326.32kb)
Information Tools for Energy Demand Reduction(774.24kb)
Using-Tax-Incentives-to-Support-Thermal-Retrofit-Summary(277.40kb)
Costs, Benefits, and Financial Support for Thermal Retrofit(409.35kb)
Policy Map(833.05kb)
Policies Supporting Thermal Efficiency in Germany’s Building Sector(268.26kb)
Effectiveness of Energy Performance Certificates(1.64MB)

Codes to Cleaner Buildings: Effectiveness of U.S. Building Energy Codes

Published September 2011

In this paper, Climate Policy Initiative San Francisco assesses the impact of state energy codes using residential energy use data at the state level. By conducting a regression analysis comparing states with building energy codes to those without, CPI SF measures the realized energy savings of energy codes and compares them to existing estimates based on building simulation models.
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Codes to Cleaner Buildings, Effectiveness of US Building Energy Codes(1.18MB)

Energiekonzept: Instrumente für energetische Sanierungen

Veröffentlicht Mai-August 2011

Die Steigerung der Energieeffizienz im Gebäudesektor steht im Zentrum des Energiekonzepts der Bundesregierung. Dort ist das Ziel festgeschrieben, den Wärmebedarfs um 20% bis 2020 zu reduzieren, um anschließend eine Verringerung des Primärenergiebedarfs um 80% bis 2050 zu erreichen. In den vorliegenden Studien analysiert CPI Fragen zu Politikinstrumenten zur Erreichung dieser Ziele.
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Zusammenfassung im DIW Wochenbericht Energetische Sanierung(434.92kb)
Kosten, Nutzen und finanzielle Unterstützung für energetische Sanierungen(472.20kb)
Steueranreize zur Förderung energetischer Sanierungen(95.85kb)
Informationsinstrumente zur Förderung von Energieeinsparungen(988.66kb)
Beweggründe für Sanierungsentscheidungen und Zweifamilienhausbesitzern(658.35kb)
DIW Wochenbericht – Die Effektivität des Energieausweises – Ergebnisse aus Deutschland(333.26kb)

Renewable Energy Financing and Climate Policy Effectiveness

Published July 2011

CPI's Renewable Energy Finance project assesses the impact of policy on the availability and mix of investment in renewable energy.
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Renewable Energy Financing and Climate Policy Effectiveness Working Paper(241.68kb)

Impact of Reductions and Exemptions in Energy Taxes and Levies

Published June 2011

In this report, CPI studied the impact of four German energy policies and their related exemptions for industry, differentiated by the size of the firm and the industrial sub-sector.
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Reductions and Exemptions on Energy Taxes(1.25MB)
Reductions and Exemptions on Energy Taxes (German)(443.45kb)

An Assessment of the Impact of Policy on the Financing of Clean Energy: Project Overview

Published May 2011

CPI's assessment of the impact of policy on the financing of clean energy aims to investigate the effectiveness of policy in promoting efficient investment.
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Impact of Policy on Financing Clean Energy(87.24kb)

The Role of Government Policy in the Development of Solar Photovoltaic Power: Project Overview

Published May 2011

CPI's focus in this project has been on the effectiveness of policy in helping PV reach its technical potential. In this project overview, we address several of the major questions that policymakers face in their effort to make PV more cost competitive.
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Role of Government in PV Power Development(185.79kb)

PV Industry and Policy in Germany and China

Published March 2011

In this paper, CPI provides an overview of the PV industry and policies in Germany and China, including deployment support, investment support for manufacturing plants, and R&D support measures.
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PV Industry Germany and China(1.03MB)

Review of Low-Carbon Development in China 2010

Published February 2011

China's 11th Five-Year Plan (2006-2010) set a target to reduce energy intensity by 20% from 2005 levels. Climate Policy Initiative's "Review of Low-Carbon Development in China 2010" discusses China's energy performance in key sectors, describes the policies and instruments implemented to meet this target, and provides initial insights that may be valuable as China enters its 12th FYP period.
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Review of LCD in China 2010(842.22kb)

Carbon Pricing Project

Published February 2011

To drive low-carbon investment, policy frameworks must capture companies’ attention, provide clarity for business decisions, and enable low-carbon investment decisions. CPI and Climate Strategies’ recent joint study indicates that the EU ETS contributes to these requirements, but it also suggests that improvements such as increasing stringency, limiting CDM use, changes in international financial reporting standards, and complementary policies are needed.
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Carbon Pricing Exec Summary(364.19kb)
Climate Change, Investment, and Carbon Markets and Prices(2.27MB)
Emissions Trading Schemes under IFRS(393.90kb)
Relative Importance of Policy Elements(572.39kb)
Role of CDM Post-2012(468.17kb)

The State of International Climate Finance: Is it Adequate and Is It Productive?

Published December 2010

On the 14th of October 2010, Climate Policy Initiative (CPI) and the International Center for Climate Governance (ICCG) in collaboration with the Euro-Mediterranean Centre for Climate Change (CMCC) hosted a workshop to convene key players in climate finance. The workshop provided a platform for policymakers and experts from research organizations and finance institutions active along the spectrum of public and private finance issues to initiate a concrete dialogue on climate finance.
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Workshop Report State of International Climate Finance(737.61kb)

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