All publications from our in-depth and objective analysis on climate finance, energy finance and land use.

Regulierungen und Investitionen für die Energiewende

April 14, 2016

Die Climate Policy Initiative hat das Investitionspotenzial für erneuerbare Energien in Deutschland, die Kosteneffizienz verschiedener Zusammensetzungen von Investoren sowie den potenziellen Einfluss von Regulierungen auf den Investorenmix untersucht.
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Regulierungen und Investitionen für die Energiewende – Zusammenfassung(635.74 kb)
Übersicht der wichtigsten Regulierungsbereiche(38.04 kb)

Policy and investment in German renewable energy

April 14, 2016

This report examines the availability of capital for renewable energy, the cost-effectiveness of different mixes of capital and investors used in meeting Germany’s medium and long-term deployment goals, and the potential impact of policies on this mix of investment.
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Policy and investment in German renewable energy(3.84 MB)
Policy and investment in German renewable energy – Summary(645.70 kb)
Overview of most important policy issues(33.64 kb)

Government Assets Risks and Opportunities in a Changing Climate Policy Landscape

March 22, 2016

This paper helps policymakers and stakeholders better understand how issues around climate related policies affect national budgets. It also offers suggestions about how policymakers and stakeholders can develop appropriate strategies.
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Government Assets Risks and Opportunities in a Changing Climate Policy Landscape(15.61 MB)

Taking Stock of International Contributions to Low Carbon, Climate Resilient Land Use in Indonesia

February 2, 2016

This paper discusses the role of international development partners in financing mitigation and adaptation actions in the land use sectors in Indonesia. We evaluate what progress has been made to date, what challenges have been met, and what opportunities lie ahead to effectively support Indonesia, reflecting on the value add that development partners bring to the domestic picture.
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Taking Stock of International Contributions to Low Carbon Climate Resilient Land Use in Indonesia – Full Study(305.60 kb)
Taking Stock of International Contributions to Low Carbon Climate Resilient Land Use in Indonesia – Slide Deck(2.55 MB)

Improving Land Productivity through Fiscal Policy

December 16, 2015

Indonesia’s government has ambitious dual revenue and emission reduction goals: its 2015 revenue targets are 21% higher than 2014 targets, and it aims to reduce emissions 29% by 2030. These dual goals make it a growing priority to find ways to encourage productive land use that can generate domestic revenue, while also curbing emissions and deforestation. In a series of two studies, CPI's analysis indicates that Indonesia has opportunities to improve its fiscal policy frameworks to meet both goals simultaneously.
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Full Report – English – Improving Land Productivity Through Fiscal Policy-A Framework for Analysis(828.39 kb)
Full Report – English – Early Insights on Taxation in the Palm Oil Supply Chain(1.05 MB)
Fact Sheet – English – Fiscal Policies – A key tool to achieve indonesias land use goals(490.87 kb)
Fact Sheet – Bahasa – Kebijakan Fiskal sebagai kunci efisiensi di sektor penggunaan lahan dan pengelolaan sumber daya alam(458.38 kb)

Slowing the Growth of Coal Power in China: the Role of Finance in State-Owned Enterprises

December 15, 2015

In the past few decades, China has experienced rapid growth in coal power, leading to the country’s increased CO2 emissions, which reached 8.25 billion tons in 2012 (IEA). Climate Policy Initiative examines the financing of Chinese coal power plants, beginning with an overview of the current state of the coal power sector, with the aim of exploring financing levers which could optimize electric power growth while also greening the system.
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Slowing the Growth of Coal Power in China – the Role of Finance in State-Owned Enterprises(481.12 kb)

Getting the most from your green: An approach to using public money effectively through green banks and other low-carbon financing

December 8, 2015

This document addresses the effective uses of public financial interventions for low carbon projects. It provides an overview of Climate Policy Initiative’s (CPI’s) approach
to determining the most efficient ways in which green banking and other public financial interventions could support the transition to a low-carbon economy.
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Getting the Most from Your Green- An Approach to Using Public Money Effectively Through Green Banks and Other Low-Carbon Financing(834.64 kb)

Charting a path for finance policy in clean infrastructure

December 8, 2015

Rapidly developing nations face particular challenges in meeting their infrastructure investment needs. This project, which supports the upcoming report by the New Climate Economy, the Brookings Institution, and the London School of Economics, “Delivering on Sustainable Infrastructure for Better Development and Better Climate,” explores the infrastructure investment models that India and Brazil have used to address this challenge.
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Model for Financing Clean Infrastructure in Middle Income Countries – Working Paper(979.94 kb)

Brazil’s New Forest Code: How to Navigate the Complexity

November 26, 2015

In order to achieve its climate targets and to promote efficient land use, Brazil must implement and enforce the environmental protections outlined in its Forest Code of 2012. Though it has promise, the legislation relies heavily on the compliance of Brazilian states and individual landowners to ensure its success. These two in-depth policy briefs address these challenges by facilitating understanding of and compliance with the Forest Code.
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Policy Brief – Part I – How to Navigate the Complexity(1.51 MB)
Policy Brief – Part II – Paths and Challenges to Compliance(1.74 MB)
Flowchart – Forest Code Compliance for Rural Properties with Less than Four Fiscal Modules(540.71 kb)
Flowchart – Forest Code Compliance for Rural Properties with More than Four Fiscal Modules(530.37 kb)

Novo Código Florestal: Caminhos e Desafios para a Regularização Ambiental

November 26, 2015

Para que o novo Código Florestal seja implementado, é necessário que os estados editem regras próprias, incorporando as inovações na legislação estadual. O conjunto destas normas deve, ainda, ser aplicado pelos estados e municípios. Além disso, proprietários e possuidores rurais devem compreender a legislação, cumprir com seus requisitos e ter a iniciativa de regularizar seus imóveis. Para enfrentar estes desafios, pesquisadores do Núcleo de Avaliação de Políticas Climáticas da PUC-Rio/ Climate Policy Initiative, no âmbito do projeto INPUT, criaram uma série de resumos para política pública.
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Resumo para Política Pública – Parte I – Decifrando o Novo Código Florestal(1.48 MB)
Resumo para Política Pública – Parte II – Caminhos e Desafios para a Regularização Ambiental(1.76 MB)
FLUXOGRAMA DE REGULARIZAÇÃO AMBIENTAL DE IMÓVEL RURAL MENOR QUE 4 MÓDULOS FISCAIS – CÓDIGO FLORESTAL(535.60 kb)
FLUXOGRAMA DE REGULARIZAÇÃO AMBIENTAL DE IMÓVEL RURAL MAIOR QUE 4 MÓDULOS FISCAIS – CÓDIGO FLORESTAL(530.07 kb)
FLUXOGRAMA PARA CONFORMIDADE LEGAL DE IMÓVEL RURAL MENOR QUE 4 MÓDULOS FISCAIS NO ESTADO DA BAHIA(521.88 kb)
FLUXOGRAMA PARA CONFORMIDADE LEGAL DE IMÓVEL RURAL MAIOR QUE MÓDULOS FISCAIS NO ESTADO DA BAHIA(526.65 kb)
FLUXOGRAMA DE REGULARIZAÇÃO AMBIENTAL DE IMÓVEL RURAL MENOR QUE 4 MÓDULOS FISCAIS NO ESTADO DE MATO GROSSO DO SUL(525.46 kb)
FLUXOGRAMA DE REGULARIZAÇÃO AMBIENTAL DE IMÓVEL RURAL MAIOR QUE 4 MÓDULOS FISCAIS NO ESTADO DE SÃO PAULO(533.23 kb)
FLUXOGRAMA DE REGULARIZAÇÃO AMBIENTAL DE IMÓVEL RURAL MENOR QUE 4 MÓDULOS FISCAIS NO ESTADO DE SÃO PAULO(540.41 kb)
FLUXOGRAMA DE REGULARIZAÇÃO AMBIENTAL DE IMÓVEL RURAL MAIOR QUE 4 MÓDULOS FISCAIS NO ESTADO DE SÃO PAULO(533.23 kb)

Slowing the Growth of Coal Power Outside China: The Role of Chinese Finance

November 25, 2015

In recent years, China has grown into a major provider of coal power finance in overseas markets, replacing financing by...
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Slowing the Growth of Coal Power Outside China(724.02 kb)

Estimating Mobilized Private Finance for Adaptation: Exploring Data and Methods

November 20, 2015

This study advances understanding of how to assess publicly-mobilized private investment in climate resilience by developing, testing and evaluating a range of methodological options to estimate the amount of private finance mobilized by developed countries’ public finance interventions for climate adaptation in developing countries.
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Estimating mobilized private finance for adaptation – Executive Summary(416.61 kb)
Estimating mobilized private finance for adaptation – Exploring data and methods(1.57 MB)
Estimating mobilized private finance for adaptation – Presentation(752.40 kb)

Global Landscape of Climate Finance 2015

November 16, 2015

The amount of climate finance invested around the world in 2014 increased by 18% over the previous year from USD 331 billion to an estimated USD 391 billion
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Global Landscape of Climate Finance 2015(916.13 kb)
A Closer Look at the Landscape 2015 Methodology(362.84 kb)

Central Kalimantan’s Oil Palm Value Chain: Opportunities for Productivity, Profitability and Sustainability Gains

November 16, 2015

This working paper provides a first overview of Central Kalimantan’s oil palm value chain and the business actors involved throughout. It aims to identify how business investment can be optimized to support socially inclusive development, delivering productivity, profitability, and sustainability gains.
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Central Kalimantan Oil Palm Value Chain – Full Working Paper(2.60 MB)
Central Kalimantan Oil Palm Value Chain – Summary Slides(1.84 MB)

Climate Finance in 2013-14 and the USD 100 Billion Goal

October 7, 2015

With the aim of informing the international discussions and enhancing transparency on climate finance ahead of the UNFCCC 21st Conference of Parties (COP21) in Paris in December 2015, the current and incoming COP Presidencies, Peru and France, asked the Organisation for Economic Cooperation and Development (OECD) in collaboration with CPI to provide an up-to-date aggregate estimate of mobilized climate finance and an indication of the progress towards the UNFCCC climate finance goal.
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Climate Finance in 2013-14 and the USD 100 billion goal(3.43 MB)

The Role of Technical Assistance in Mobilizing Climate Finance – Insights From GIZ Programs

October 6, 2015

Few studies examine how technical assistance may help mobilize additional public and private climate finance to help developing countries mitigate and adapt to climate change. This paper aims to provide some first insights on the topic by analyzing five technical assistance programs of the German ‘Gesellschaft fuer Internationale Zusammenarbeit (GIZ), one of the largest technical assistance agencies worldwide.
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The Role of Technical Assistance in Mobilizing Climate Finance – Insights From GIZ Programs(407.75 kb)

Towards Efficient Land Use in Brazil

September 1, 2015

Increasing global demand for food and the need to address climate change risk make it ever more urgent to both protect ecosystems and use land more productively and efficiently. Brazil is a key player in this context and has made significant gains in recent decades. Between 1970 and 2006, its average national cattle farm productivity doubled and its average national crop farm productivity quadrupled. More recently, the country’s conservation efforts have been successful in reducing the rate of Amazon forest clearings to its lowest level in 30 years.
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Towards Efficient Land Use in Brazil(1.39 MB)

What Counts: Tools to Help Define and Understand Progress Towards the $100 Billion Climate Finance Commitment

August 31, 2015

This paper aims to make a positive contribution in the lead up to Paris by first unpacking the key variables Parties have emphasized in debates about “what counts” towards the $100bn climate finance goal, and then proposing an approach to classifying climate finance that Parties could use as a starting point for their analyses and interpretations. It takes no position on what should count: instead it organizes different aspects of climate finance in politically relevant ways that could help facilitate clearer understanding and convergence.
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What Counts – Tools to Help Define and Understand Progress Towards the $100 Billion Climate Finance Commitment(954.84 kb)

Lessons on the Role of Public Finance in Deploying Geothermal Energy in Developing Countries

August 21, 2015

This report provides recommendations on the design and distribution of policymakers and development finance institutions' policy and financing tools to enable fast and cost-effective deployment of geothermal in developing countries. It draws lessons from case studies of geothermal projects with different public, private and mixed development models in Turkey, Kenya and Indonesia.
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Lessons on the Role of Public Finance in Deploying Geothermal Energy in Developing Countries – Full Report(730.27 kb)

The Landscape of Climate Exposure for Investors

August 20, 2015

Climate change has financial implications for investors – presenting significant portfolio risks as well as new market opportunities. This paper explores the landscape of climate exposure and examines the strengths as well as some of the current limitations of ESG data, tools, and financial products.
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The Landscape of Climate Exposure for Investors_full report(697.64 kb)
The Landscape of Climate Exposure for Investors_slide deck(825.41 kb)

Strengthening Brazil’s Forest Protection in a Changing Landscape

August 17, 2015

Annual deforestation rates in Brazil’s Amazon fell by almost 80% between 2004 and 2012 due in large part to conservation policies Brazil introduced in 2004. While this is welcome news to policymakers intent on combating forest clearings, a new challenge has emerged: deforestation now occurs on smaller tracts of land, which is more difficult to detect and remains unaddressed.
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POLICY BRIEF – Strengthening Brazil’s Forest Protection in a Changing Landscape(259.53 kb)
INFORMATIVO DE POLÍTICA – Fortalecendo A Proteção Da Amazônia Brasileira Em Um Cenário De Mudança(216.16 kb)
Deforestation Scale and Farm Size – the Need for Tailoring Policy in Brazil – Technical Paper(1.05 MB)
INFOGRAPHIC – What’s Happening with Amazon Deforestatation(188.00 kb)

Fortalecendo A Proteção Da Amazônia Brasileira Em Um Cenário De Mudança

August 17, 2015

Entre 2004 e 2012, houve redução de quase 80% da taxa anual de desmatamento na Amazônia brasileira, em grande parte devido a políticas de combate ao desmatamento introduzidas a partir de 2004. Ainda que isso seja uma boa notícia para aqueles determinados a proteger a floresta, o país agora enfrenta um novo desafio: atualmente, o desmatamento ocorre em pequenos incrementos, mais difíceis de detectar e, portanto, de combater.
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INFORMATIVO DE POLÍTICA – Fortalecendo A Proteção Da Amazônia Brasileira Em Um Cenário De Mudança(216.16 kb)
Deforestation Scale and Farm Size – the Need for Tailoring Policy in Brazil – Technical Paper(1.05 MB)
POLICY BRIEF – Strengthening Brazil’s Forest Protection in a Changing Landscape(259.53 kb)
INFOGRÁFICO – O que está acontecendo com o desmatamento na Amazônia(189.32 kb)

Risk Mitigation Instruments for Renewable Energy in Developing Countries: A Case Study on Hydropower in Africa

July 16, 2015

This study examines the effectiveness of risk mitigation instruments used in a Ugandan hydropower project in driving investment and reducing costs and examines how these instruments might be used to drive private investment in other renewable energy projects in developing countries with high investment risks. The project is one of very few to make simultaneous use of different risk mitigation instruments provided by the World Bank Group.
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Risk Mitigation Instruments for Renewable Energy in Developing Countries – A Case Study on Hydropower in Africa(818.77 kb)

Reaching India’s Renewable Energy Targets Cost-Effectively: A Foreign Exchange Hedging Facility

June 17, 2015

India has ambitious renewable energy targets for 2022, but because of the government’s limited budget, a cost-effective policy path is crucial to achieving those targets. Achieving India’s renewable energy targets cost-effectively faces two key barriers – a shortage of debt and inferior terms of debt.
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Reaching India’s Renewable Energy Targets: A Foreign Exchange Hedging Facility _ Executive Summary(163.19 kb)
Reaching India’s Renewable Energy Targets: A Foreign Exchange Hedging Facility_Technical Paper(653.20 kb)
Reaching India’s Renewable Energy Targets Cost-Effectively – A Foreign Exchange Hedging Facility_slide deck(869.24 kb)

Using Private Finance to Accelerate Geothermal Deployment: Sarulla Geothermal Power Plant, Indonesia

June 16, 2015

This case study analyzes the 330MW Sarulla Geothermal Power Plant (GPP) which is on course to become the largest single contract geothermal power plant project in the world in 2018. The project has the highest private sector involvement of any geothermal project on a previously undeveloped field in Indonesia, thanks to substantial public support in the form of financing, guarantees and a feed-in tariff.
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Using Private Finance to Accelerate Geothermal Deployment – Sarulla Geothermal Power Plant in Indonesia(750.35 kb)
Menggunakan Pendanaan Swasta untuk Mempercepat Penggunaan Panas Bumi, Pembangkit Listrik Tenaga Panas Bumi, Indonesiat – Ringkasan Eksekutif(148.96 kb)

Emerging solutions to drive private investment in climate resilience

June 9, 2015

This working paper provides emerging insights from the experience of seven Development Finance Institutions (DFIs) in driving private sector investment in climate resilience.
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Emerging Solutions to Drive Private Investment in Climate Resilience(3.43 MB)

Achieving a high-productivity, sustainable palm oil sector in Indonesia: a landscape management approach

June 9, 2015

A growing number of government, business and civil society, including Unilever and IDH, have a goal of transforming the Indonesian rural economy by 2020, to deliver net positive environmental impacts and improve smallholder farmer livelihoods. This requires a focus on transforming the oil palm sector from being a driver of deforestation, to one that is highly productive and sustainable.
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Achieving a high-productivity, sustainable palm oil sector in Indonesia- a landscape management approach(719.39 kb)

Background report for G7 on long-term climate finance

June 8, 2015

This "Background Report on Long-term Climate Finance" was prepared by Climate Policy Initiative and CICERO for the German G7 Presidency ...
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2015 Background report on long-term climate finance(1.83 MB)

Using Public Finance to Attract Private Investment in Geothermal: Olkaria III Case Study, Kenya

June 2, 2015

This case study looks at Olkaria III, the first privately funded and developed geothermal project in Africa to understand how the Kenyan government and international public finance are working together to attract private investment in geothermal.
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Using Public Finance to Attract Private Investment in Geothermal: Olkaria III Case Study, Kenya(914.67 kb)

Reaching India’s Renewable Energy Targets: Effective Project Allocation Mechanisms

May 13, 2015

The Government of India has set ambitious renewable energy targets for 2022, in order to achieve its climate goals and enhance energy security. Given India’s budget constraints, a cost-effective policy path will be crucial to achieving these targets. One way to reduce the cost of government support needed to achieve its renewable energy targets is through the tariffs it uses to procure renewable energy.
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Reaching India’s Renewable Energy Targets: Effective Project Allocation Mechanisms_full report(1.00 MB)

The Global Innovation Lab for Climate Finance: Phase 3 Instrument Reports

April 22, 2015

In April 2015, Lab members, who include high-level experts from public and private institutions, endorsed the launch of the pilot initiatives after a year-long process supported by rigorous analysis to determine which instruments showed the most promise. The initiatives have collectively raised over USD 100 million in initial funding, with more expected to follow through an ongoing process that will draw on expertise and resources of additional Lab member institutions, as well as other private and public stakeholders. The Phase 3 Instrument reports summarize analysis conducted by Climate Policy Initiative, as Lab Secretariat, to refine these initiatives and outline concrete implementation pathways.
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Agricultural Supply Chain Adaptation Facility – Lab Phase 3 Analysis Summary(7.35 MB)
Long-Term FX Risk Management – Lab Phase 3 Analysis Summary(7.09 MB)
Energy Savings Insurance – Lab Phase 3 Analysis Summary(7.17 MB)
Climate Development and Finance Facility – Lab Phase 3 Analysis Summary(648.44 kb)

Reaching India’s Renewable Energy Targets Cost-Effectively

April 14, 2015

The Government of India has ambitious renewable energy targets, but limited financial resources to meet those targets. CPI examines how much it would cost the government to reach its renewable energy targets, by comparing the levelized cost of electricity from renewable energy to a baseline fossil fuel in absence of any subsidies – whether explicit or implicit; estimating the total cost of support for renewable energy under accelerated depreciation, which is the most cost-effective of existing policies; and investigating federal policy options to make this support even more cost-effective.
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Reaching India’s Renewable Energy Targets Cost-Effectively(1.31 MB)
Reaching India’s Renewable Energy Targets Cost-Effectively _ Slide Deck(540.58 kb)

Public Finance and Private Exploration in Geothermal: Gümüşköy Case Study, Turkey

March 2, 2015

Geothermal energy holds significant promise for the development of low-carbon energy systems. One of the lowest cost sources of renewable electricity, it also has the ability to meet baseload power demand and backstop fluctuating ...
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SGG Report: Public Finance and Private Exploration in Geothermal – Gumuskoy Turkey(917.15 kb)

Improving Agricultural Productivity in Brazil: The Unmet Potential of Price Risk Policy

February 25, 2015

One crucial aspect of efficient land use is agricultural risk management, which includes protecting farmers from adverse shocks, such as unfavorable weather and pests, and from price risk caused by volatility in output prices. The latter is currently a major concern for Brazilian farmers and policymakers — not only because unmanaged price risk can result in low income for farmers, and thereby affect productivity, but moreover because it can restrict farmers’ ability to raise credit, which can affect agricultural growth more broadly.
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Improving Agricultural Productivity in Brazil – The Unmet Potential of Price Risk Policy(568.96 kb)
Improving Agricultural Productivity in Brazil – The Unmet Potential of Price Risk Policy – Technical Paper(601.02 kb)
Como melhorar a produtividade agrícola no Brasil_Sumário Executivo(575.07 kb)

Como Melhorar a Produtividade Agrícola no Brasil: O Potencial Inexplorado da Política de Risco de Preços

February 25, 2015

Um dos aspectos cruciais para maior eficiência no uso da terra é a gestão do risco agrícola, que inclui proteger agricultores de choques adversos, tais como variações climáticas e pestes, e do risco de preços, causado pela volatilidade dos preços agrícolas.
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Como melhorar a produtividade agricola no Brasil(575.07 kb)

Global Landscape of Climate Finance 2014

November 20, 2014

The most comprehensive inventory of climate finance to-date, The Global Landscape of Climate Finance 2014, finds that global climate finance flows have fallen to USD 331 billion – far below even the most conservative estimates of investment needs.
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The Global Landscape of Climate Finance 2014(789.41 kb)
A Closer Look at Public Adaptation Finance(355.60 kb)

Fact Sheet: The Production & Protection Strategy in Indonesia

November 17, 2014

Many nations face the challenge of reconciling economic and environmental goals. A Production-Protection strategy is an integrated approach aimed at ...
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Fact Sheet – Production & Protection Strategy in Indonesia(44.63 kb)

San Giorgio Group Report: The Role of Public Finance in Deploying Geothermal – Background Paper

October 23, 2014

Geothermal energy is broadly cost competitive with fossil fuel alternatives even without a carbon price. However, its rate of deployment has been slower than other renewables over the last thirty years and will need to speed up rapidly if this technology is to deliver on its promise. In addition, geothermal technologies that can harness lower temperature geothermal resources need to achieve more deployment to bring costs down.
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SGG Report: The Role of Public Finance in Deploying Geothermal – Background Paper(908.26 kb)

Moving to a Low-Carbon Economy

October 8, 2014

With the right policies, the transition to a low-carbon energy system consistent with avoiding the most damaging effects of climate change could free up trillions of dollars over the next 20 years to invest in better economic growth.
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Regional Fact Sheets: Moving to a Low-Carbon Economy(86.99 kb)
Moving to a Low-Carbon Economy: The Financial Impact of the Low-Carbon Transition(715.08 kb)
Moving to a Low-Carbon Economy: The Impacts of Policy Pathways on Fossil Fuel Asset Values(2.27 MB)

Getting Greener by Going Black: The Priority Municipalities in Brazil

September 24, 2014

In 2007, 36 Brazilian municipalities were responsible for 45% of the deforestation in the Amazon Biome – an astonishing figure considering Brazil has 547 municipalities that transect the Biome. In 2008, the Brazilian Ministry of Environment set out to address this by blacklisting thirty-six municipalities, setting them as Municípios Prioritários (Priority Municipalities, or MPs).
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Getting Greener by Going Black – Executive Summary English(5.91 MB)
Getting Greener by Going Black – Technical Paper(1.78 MB)
Municípios Prioritários- Reputação ou Fiscalização_ – Sumário Executivo(5.76 MB)

Municípios Prioritários: Reputação ou Fiscalização?

September 24, 2014

Em 2007, 36 municípios brasileiros eram responsáveis por 45% do desmatamento no Bioma Amazônia – um número impressionante se levado em conta que 547 municípios brasileiros têm interseção com o Bioma Amazônia. Em 2008, o Ministério do Meio Ambiente criou uma lista com esses 36 municípios, chamando-os de Municípios Prioritários (MPs) para o combate e a prevenção ao Desmatamento.
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Municípios Prioritários- Reputação ou Fiscalização_ – Sumário Executivo(5.76 MB)
Getting Greener by Going Black – Executive Summary English(5.91 MB)
Getting Greener by Going Black – Technical Paper(1.78 MB)

San Giorgio Group Brief: Early Lessons on Introducing Energy Performance Contracts in Italy – Milan’s Energy Efficiency Program

September 3, 2014

Governments around the world use energy performance contracts (EPCs) with energy service companies (ESCOs) to reduce the energy costs and carbon emissions of public buildings without any budget outlay on their part. This brief draws lessons from the first program of this kind in Italy to cover energy savings alone and introduce pure EPC on a regional scale.
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SGG Brief – Early Lessons on Introducing Energy Performance Contracts in Italy – Milan’s Energy Efficiency Program(314.92 kb)

San Giorgio Group Brief: How Spain created a world-leading CSP industry then shattered investor confidence

August 1, 2014

Part of a series looking at the role of public finance in driving concentrated solar power (CSP) deployment and cost reductions, this report draws lessons from Spanish support policies which drove the creation of a world-leading industry and then shattered investor confidence through retroactive changes.
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SGG Brief – The Role of Public Finance in CSP – How Spain created a world-leading industry then shattered investor confidence(488.08 kb)

What Is Climate Finance? Definitions to Improve Tracking and Scale Up

July 25, 2014

This brief explains CPI’s understanding and definition of key climate finance terms and the reasons for these definitions to inform the debate and build a common understanding among stakeholders.
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What Is Climate Finance? Definitions to Improve Tracking and Scale Up(208.28 kb)

Landscape of Public Climate Finance in Indonesia

July 23, 2014

Indonesia’s desire to drive economic growth and reduce climate risk is reflected in the sweeping policy reforms it has introduced in recent years to meet targets announced in 2009 to reduce greenhouse gas emissions. In this report, CPI identifies which public actors are investing in Indonesia, through which instruments, and what they are investing in to provide a baseline against which to measure progress and plan scale up. This mapping exercise reveals investment patterns that allow decision makers to pinpoint where the biggest barriers and opportunities are.
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The Landscape of Public Finance in Indonesia – Executive Summary(470.62 kb)
The Landscape of Public Finance in Indonesia(1.17 MB)
The Landscape of Public Finance in Indonesia – Annexes(400.59 kb)

Pemetaan Pendanaan Publik untuk Perubahan Iklim di Indonesia

July 23, 2014

Komitmen Indonesia untuk mendorong pertumbuhan ekonomi sekaligus mengurangi risiko perubahan iklim tercermin melalui serangkaian kebijakan baru yang diberlakukan beberapa tahun terakhir untuk mencapai target pengurangan emisi yang diumumkan di tahun 2009. Dalam laporan ini kami mengidentikasi para pelaku publik yang berinvestasi di Indonesia, instrumen yang digunakan, dan bentuk investasi yang dilakukan yang kemudian menjadi landasan untuk mengukur progress dan rencana pengembangan. Kami juga menemukan pola investasi yang membantu kami mengidentifikasi tantangan dan kesempatan yang ada.
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Pemetaan Pendanaan Publik untuk Perubahan Iklim di Indonesia – Ringkasan Eksekutif(472.73 kb)

Cap and Trade in Practice: Barriers and Opportunities for Industrial Emissions Reductions in California

July 1, 2014

California is both one of the largest economies and one of the largest emitters globally, making its climate change policies some of the most important in the world. They are also some of the most ambitious. In particular, California’s Global Warming Solutions Act of 2006 (AB32) set a series of policies and programs across all major business sectors to return California emissions to 1990 levels by 2020. A key component of this set of policies is the Cap and Trade Program...
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Cap and Trade in Practice – Full Report(900.97 kb)
Cap and Trade in Practice – Slide Deck(1.97 MB)

Getting the most from your green: A case study for using public money effectively for large-scale renewable energy in California

July 1, 2014

This brief illustrates CPI’s approach to identifying effective uses of public financial interventions for low-carbon projects. It presents our analysis of the financial barriers affecting large-scale renewable energy in California.
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Getting the Most from Your Green- A Case Study for Using Public Money Effectively for Large-Scale Renewable Energy in California(1.17 MB)

Land Rental Markets in Brazil: A Missed Opportunity

June 25, 2014

When compared with other countries, Brazil’s land rental markets fall short. Only 3.3% of Brazilian agricultural land was under lease or sharecropping contracts in the latest World Census of Agriculture. In contrast, this figure is about 33% in Europe and almost 38% in the United States. Considering Brazil’s large land area and the extensive portion of this area occupied by agriculture and pastures, the potential of land rentals to improve agricultural productivity is huge.
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Land Rental Markets in Brazil – Full Paper English(796.23 kb)
Land Rental Markets in Brazil – Slide Deck(178.67 kb)
Aluguel de Terras no Brasil – Sumario Executivo(109.22 kb)

Aluguel de Terras no Brasil: Um Mercado a Ser Explorado

June 25, 2014

Quando comparado com outros países, os mercados de aluguel de terras no Brasil parecem pouco desenvolvidos. Somente 3,3% dos terrenos cultivados no país estava sob acordos de arrendamento ou parceria no último Censo Agropecuário. Em comparação, este número sobe para 33% na Europa e chega a quase 38% nos Estados Unidos...
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Aluguel de Terras no Brasil – Sumario Executivo(109.22 kb)
Land Rental Markets in Brazil – Full Paper English(796.23 kb)
Land Rental Markets in Brazil – Slide Deck(178.67 kb)

San Giorgio Group Policy Brief: The Role of Public Finance in CSP – Lessons Learned

June 23, 2014

This study shows that if international finance institutions (IFIs) and committed national governments were to join forces to deploy 5-15GW of concentrated solar power (CSP), it could reduce its electricity production costs by around 14-44% and make CSP competitive in countries like Morocco and South Africa. With findings drawn from four case studies and background paper, this policy brief offers recommendations for IFIs and developing country policymakers on how to make this happen in the most cost-effective way.
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The Role of Public Finance in CSP – Lessons Learned(612.55 kb)
The Role of Public Finance in CSP – Annexes for Lessons Learned(198.19 kb)

Roadmap to a Low Carbon Electricity System in the U.S. and Europe

June 19, 2014

Electricity systems across the U.S. and Europe face significant challenges in the transition to low-carbon energy. While the transition provides plenty of opportunities for investors, businesses, and consumers alike, the current business and regulatory models of investor owned utilities (IOUs) and independent power producers (IPPs), which have mainly developed around competitive markets for fossil fuel generation, are particularly ill-suited to take advantage of these new opportunities.
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Roadmap to a Low Carbon Electricity System – Executive Summary(154.34 kb)
Roadmap to a Low Carbon Electricity System – Parts 1 and 2(691.78 kb)
Roadmap to a Low Carbon Electricity System – Fact Sheets(105.49 kb)

San Giorgio Group Case Study: Eskom CSP 100MW plant, South Africa

June 13, 2014

The 100 MW Eskom CSP power tower plant being developed in Upington by Eskom, South Africa’s state-owned electricity utility, is one of the most technically challenging of its kind under development outside of the US. It brings higher potential for cost reduction, building up local supply chains and promoting energy security than other CSP project currently under development in the country.
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SGG Case Study: The Role of Public Finance in CSP – Eskom CSP 100MW plant, South Africa(935.76 kb)

Misreporting in wind power contracts: Evidence from a feed-in tariff in Brazil

May 7, 2014

While PROINFA - Brazil's wind energy program - was successful in deploying energy to meet its goals – it accounted for much of the growth from 29 MW to 2,010 MW in installed wind capacity in Brazil between 2004 and 2012 – our analysis suggests that issues with the design of PROINFA’s contracts reduced the program’s cost-effectiveness.
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Misreporting in Wind Power Contracts – Executive Summary(604.06 kb)
Misreporting in Wind Power Contracts – Technical Paper(678.87 kb)
Manipulacao de Estimativas de Fatores de Capacidade em contratos de emergia eolica – Sumario Executivo(443.10 kb)

Manipulação de Estimativas de Fatores de Capacidade em contratos de energia eólica: evidências de um contrato com tarifa feed-in no Brasil

May 7, 2014

Apesar do PROINFA ter sido bem sucedido quanto às suas metas de capacidade instalada – de fato, foi responsável por grande parte do crescimento de 29 MW para 2.010 MW em capacidade eólica instalada no Brasil entre 2004 e 2012 – nossa análise sugere que problemas com o desenho dos contratos reduziram o custo-benefício do programa.
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Manipulacao de Estimativas de Fatores de Capacidade em contratos de emergia eolica – Sumario Executivo(443.10 kb)
Misreporting in Wind Power Contracts – Executive Summary(604.06 kb)
Misreporting in Wind Power Contracts – Technical Paper(678.87 kb)

Operationalizing the Private Sector Facility of the Green Climate Fund: Addressing Investor Risk

April 29, 2014

This brief presents findings from a project that aims to support the Green Climate Fund in its design and operationalization of an innovative and effective Private Sector Facility. It was carried out in close partnership with the Dutch Ministry of Infrastructure and Environment.
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Operationalizing the Private Sector Facility of the Green Climate Fund_Addressing Investor Risk(377.13 kb)

Solving India’s Renewable Energy Financing Challenge: Instruments to Provide Low-cost, Long-term Debt

April 21, 2014

In this paper, we explore financing instruments, used in other regions as well as those that were recently introduced in India in other contexts that have the potential to provide and/or facilitate low-cost, long-term debt for renewable energy in India.
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Instruments to Provide Low-Cost Long-Term Debt – Slides(719.32 kb)
Instruments to Provide Low-cost, Long-term Debt(1.17 MB)

Solving India’s Renewable Energy Financing Challenge: Which Federal Policies can be Most Effective?

March 24, 2014

The Government of India has set ambitious targets for renewable energy — a doubling of existing renewable energy capacity to 55,000 MW by 2017. However, unsubsidized renewable energy is still 52-129% more expensive than conventional power, and requires policy support.
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Which Federal Policies can be Most Effective – Full Study(1.16 MB)
Which Federal Policies can be Most Effective – Slide Deck(1.50 MB)

San Giorgio Group Case Study: The Role of Public Finance in CSP – Rajasthan Sun Technique 100MW CSP plant, India

March 10, 2014

The 100MW Rajasthan Sun Technique CSP plant is not only the first linear Fresnel CSP plant in India and the largest in the world, it is also one of the cheapest large-scale CSP plants ever built. This case study finds that while Indian solar policy was essential to build this innovative plant it was not enough for India to deploy CSP plants at the desired level and speed.
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SGG Case Study The Role of Public Finance in CSP – Rajasthan Sun Technique, India(679.71 kb)

Finance Mechanisms for Lowering the Cost of Renewable Energy in Rapidly Developing Countries

January 20, 2014

Renewable energy financing in emerging economies faces particularly daunting challenges, but there are creative policy solutions that could potentially reduce the cost of renewable energy support by as much as 30%.
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Finance Mechanisms for Lowering the Cost of Clean Energy in Rapidly Developing Countries(795.55 kb)
Finance Mechanisms for Renewable Energy in Emerging Economies – Slide Deck(964.47 kb)

San Giorgio Group Brief: The Role of Public Finance in CSP – Background and Approach to Measuring Effectiveness

January 17, 2014

Many experts and international institutions expect concentrated solar power (CSP) to supply up to 10% of global energy demand by 2050. However, today CSP’s costs remain above alternative sources of power and public finance is needed to bridge this gap: over 98% of the total investment in CSP to date has needed some form of public support. This brief, the first in series of reports on CSP, looks at the global landscape of CSP in terms of markets, technology, financing models, and policies to better understand how to structure effective and cost-effective public policies and investments.
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SGG Brief – The Role of Public Finance in CSP: Background and Approach to Measure its Effectiveness(690.02 kb)

Raising the Stakes for Energy Efficiency: California’s Risk/Reward Incentive Mechanism

January 14, 2014

California has long been a leader in energy efficiency policy among U.S. states, and the Risk-Reward Incentive Mechanism (RRIM) represents a large-scale policy experiment that holds lessons for other jurisdictions dealing with energy efficiency policy design, especially those considering shareholder incentives. Our evaluation of the RRIM contributes to the debate on the effectiveness of shareholder incentives, providing insights on how program design choices and institutional dynamics contribute to policy outcomes.
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Raising the Stakes for Energy Efficiency – California's Risk-Reward Incentive Mechanism(1.02 MB)

San Giorgio Group Case Study: Insights from Nepal’s Pilot Program for Climate Resilience

December 17, 2013

In this San Giorgio Group Case Study, Climate Policy Initiative studies the Pilot Program for Climate Resilience to highlight early lessons from a project engaging private actors in building the resilience of Nepal's agricultural sector. The overarching goal of this project is to establish models for climate-smart agriculture that make climate resilience a business proposition for the private actors involved, long beyond the project's life.
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SGG Case Study – Pilot Program for Climate Resilience in Nepal(1.21 MB)

Produção e Proteção: Importantes Desafios Para o Brasil

December 3, 2013

Nossa análise sugere que, dentro de um arcabouço de P&P, há ampla margem para melhorar a proteção dos recursos naturais e aumentar a produção agropecuária no Brasil. O país se beneficiaria do desenvolvimento de mecanismos que aumentem o custo privado de desmatar, assim como da adoção de incentivos de mercado que promovam práticas sustentáveis. Há também espaço para promover o crescimento da agropecuária brasileira através de ganhos de produtividade, sem que haja comprometimento da conservação ambiental.
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Produção e Proteção – Importantes Desafios para o Brasil [sumário executivo](875.02 kb)

Production & Protection: A First Look at Key Challenges in Brazil

December 3, 2013

We find that there is ample scope for enhanced protection of natural resources and growth of agricultural production in Brazil within a Production and Protection framework. From a protection standpoint, the country would benefit from developing mechanisms that significantly drive up the private cost of clearing native vegetation, as well as through the advancement of market-based incentives that promote sustainable practices. From a production standpoint, there is room to increase Brazilian agricultural production via productivity gains, at no apparent cost to environmental conservation.
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Production and Protection – A First Look at Key Challenges in Brazil [executive summary](717.78 kb)
Production and Protection – A First Look at Key Challenges in Brazil(3.80 MB)
Produção e Proteção – Importantes Desafios para o Brasil [sumário executivo](875.02 kb)

San Giorgio Group Case Study: Kalimantan Forests and Climate Partnership

November 20, 2013

Emissions from deforestation and forest degradation make up nearly one fifth of global greenhouse gas emissions and the estimated costs of halving emissions from deforestation and forest degradation by 2030 far exceed available public resources. This case study analyzes the Kalimantan Forests and Climate Partnership project in Indonesia to see what it can teach policymakers and investors about rehabilitating degraded peatland effectively, and what barriers need to be overcome to attract private investment at scale.
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SGG Case Study – Lessons from the Kalimantan Forests and Climate Partnership(589.51 kb)

High Productivity Agricultural Techniques in Brazil: Adoption Barriers and Potential Solutions

November 7, 2013

A no-till farming method called the Direct Planting System (DPS) is one of the most important developments in agriculture in the past decades. Farmers who adopt the DPS produce higher crop yields at a lower cost while generating lower carbon emissions from their farming, outcomes that benefit both farmers and the climate. Adoption of the DPS does not have any relevant upfront costs and results in more reliable yields than traditional farming. However, nearly forty years after the introduction of the DPS in Southern Brazil (in 1971), adoption levels remain very low throughout the country.
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Técnicas Agrícolas de Alto Rendimento- Barreiras à Adoção e Soluções Potenciais(1.41 MB)
High Productivity Agricultural Techniques in Brazil – Adoption Barriers and Potential Solutions(1.42 MB)
High Productivity Agricultural Techniques in Brazil – Adoption Barriers and Potential Solutions – Technical Paper(1.10 MB)

Técnicas Agrícolas de Alto Rendimento: Barreiras à Adoção e Soluções Potenciais

November 7, 2013

O Plantio Direto (PD), um método de produção que minimiza o uso do arado, é um dos maiores avanços das últimas décadas em tecnologia agrícola. Fazendeiros que adotam o PD apresentam melhores resultados e menor custo quando comparados às técnicas tradicionais, e diminuem as emissões de gás carbônico na atmosfera – resultados que beneficiam tanto os próprios fazendeiros quanto o clima. A adoção do PD não demanda custos iniciais significativos, e a colheita é menos sujeita a variações. Todavia, os níveis de adoção continuam extremamente baixos cerca de quarenta anos após a introdução do sistema no Sul do país, em 1971.
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Técnicas Agrícolas de Alto Rendimento- Barreiras à Adoção e Soluções Potenciais(1.41 MB)
High Productivity Agricultural Techniques in Brazil – Adoption Barriers and Potential Solutions(1.42 MB)
High Productivity Agricultural Techniques in Brazil – Adoption Barriers and Potential Solutions – Technical Paper(1.10 MB)

California Carbon Dashboard

October 24, 2013

California Carbon Dashboard is a new, beta website that offers an overview of AB32 and California climate policies, including carbon price tracking, news aggregation, and interactive graphics.
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Global Landscape of Climate Finance 2013

October 22, 2013

The most comprehensive inventory of climate finance to-date, The Global Landscape of Climate Finance 2013, finds that global climate finance flows have plateaued at USD 359 billion, or around USD 1 billion per day – far below even the most conservative estimates of investment needs.
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The Global Landscape of Climate Finance 2013(1.62 MB)

Mapping the World Bank Group Risk Mitigation Instruments for Climate Change

September 26, 2013

In this study, CPI provides an overview of general risk coverage offered through the WBG's various member institutions, potential gaps compared to existing demand, and trends of risk coverage commitments for climate change.
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World Bank Group Risk Mitigation Instruments for Climate Change Brief(407.42 kb)
World-Bank-Group-Risk-Mitigation-Instruments-for-Climate-Change-Fact-Sheet(200.57 kb)
World-Bank-Group-Risk-Mitigation-Instruments-for-Climate-Change-Presentation-Slides(5.48 MB)

San Giorgio Group Case Study: Jädraås Onshore Windfarm

September 16, 2013

CPI describes how a combination of public policies and financial instruments, and robust private risk management measures mobilized EUR 360 million of private investment in Scandinavian Europe’s largest windfarm, delivering power to 100,000 homes.
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Jadraas Onshore Windfarm – SGG Case Study(1.12 MB)

The Role of Development Finance Institutions and Development Banks in Scaling Up Green and Climate Investments

September 4, 2013

Drawing on analysis carried out by CPI, representatives of these organizations agreed to collaborate more closely on priority issues, such as driving more private investment, reducing perceived and actual investment risk, changing investment policies to move away from fossil-fuel projects, and creating more transparency on financial flows and best practice.
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The Role of Development Finance of Institutions and Development Banks in Scaling Up Green and Climate Investments – Brief(2.40 MB)

Improving Solar Policy: Lessons from the solar leasing boom in California

July 25, 2013

Most homeowners in California are no longer purchasing the panels on their rooftops, they are leasing them. Over 75% of California’s new residential solar systems in 2012 were leased as compared to less than 10% in 2007. As policymakers across the country and elsewhere look to spur further growth of solar PV in a constrained budget environment, the California experience — and in particular, the rise of leasing — may hold lessons for improving the effectiveness of solar policy generally.
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Improving Solar Policy – Lessons from the solar leasing boom in California(1.35 MB)

Using Data Tools to Optimize Indonesia’s Land Resources: An Overview of Natural Capital Assessment

June 27, 2013

This brief distills the elements of natural capital assessment process, highlights a few cases of existing, related experience and tools from around the world; and situates the discussion in the context of Indonesia's development goals and pressures.
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Using Data Tools to Optimize Indonesia’s Land Resources- An Overview of Natural Capital Assessment(1.04 MB)
Penggunaan Data untuk Mengoptimalisasikan Sumber Daya Lahan Indonesia(1.04 MB)

Targeting Proposition 39 to Help California’s Schools Save Energy and Money

May 21, 2013

California policymakers are considering how to allocate Proposition 39 funds — an estimated $2.75 billion over five years — to support energy efficiency and clean energy projects in K-12 schools and other public buildings. Proposition 39 presents a substantial opportunity to help school districts save energy and money. In order to inform the ongoing discussion, Climate Policy Initiative analyzed existing resources and gaps in financing for energy-saving projects in K-12 school districts.
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Targeting Proposition 39 to Help California’s Schools Save Energy and Money(953.42 kb)

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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DETERring Deforestation in the Brazilian Amazon – Executive Summary Only – English(731.97 kb)
DETERring Deforestation in the Brazilian Amazon – Technical Paper Only – English(1.99 MB)
DETERring Deforestation in the Brazilian Amazon webinar slides(3.37 MB)
Como DETER o Desmatamento na Amazônia – Apenas sumário executivo – Português(735.29 kb)

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(5.18 MB)

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 describing, policies in these three countries in order to lay the groundwork for future review of policy effectiveness.
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Buildings Energy Efficiency in China, Germany, and the United States(1.03 MB)

The Role of National Development Banks in Catalyzing International Climate Finance

March 27, 2013

National Development Banks (NDBs) can play a big role in climate finance. In many cases, they already are: In CPI’s most recent estimate, NDBs, together with bilateral financial institutions, raised and channeled USD 54 billion in 2010/2011 to renewable energy, energy efficiency, and other climate-related measures.

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The Role of National Development Banks in Catalyzing International Climate Finance(3.17 MB)

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(2.02 MB)
The Challenge of Institutional Investment in Renewable Energy – Executive Summary(874.48 kb)
The Challenge of Institutional Investment in Renewable Energy – Factsheet(469.38 kb)

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 – Executive Summary – English(675.97 kb)
Does Credit Affect Deforestation – Technical Paper – English(2.31 MB)
Does Credit Affect Deforestation – Executive Summary – Portuguese(675.13 kb)
Does Credit Affect Deforestation – Executive Summary – Bahasa(672.46 kb)
Does Credit Affect Deforestation – Executive Summary – Spanish(674.82 kb)

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: Executive Summary(589.84 kb)
Risk Gaps: A Map of Risk Mitigation Instruments for Clean Investments(877.98 kb)
Risk Gaps: Policy Risk Instruments(778.36 kb)
Risk Gaps: First-Loss Protection Mechanisms(798.75 kb)

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?(383.35 kb)

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(883.96 kb)

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(565.72 kb)

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

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(847.07 kb)
The Landscape of Climate Finance in Germany – Annexes(1.70 MB)
Landscape of Climate Finance in Germany – Full Report(1.66 MB)
Landscape of Climate Finance in Germany – Executive Summary – in English(626.70 kb)
Landscape of Climate Finance in Germany – Executive Summary – in German(803.86 kb)

Die deutsche Landschaft der Klimafinanzierung

November 29, 2012

Als fuehrende Kraft in Europas Entwicklung hin zur schadstoffarmen Gesellschaft hat Deutschland ehrgeizige Ziele für seinen Beitrag zum globalen Kampf gegen den Klimawandel gesetzt. Die Erreichung dieser Ziele erfordert erhebliche Investitionen in erneuerbare Energien, Energieeffizienz und andere Massnahmen zur Verringerung von Treibhausgasemissionen. Mit Hilfe von Daten aus einer Vielzahl von Quellen geben wir in in unserem Bericht den derzeit umfassendsten Ueberblick über den aktuellen Stand der deutschen Klimafinanzierung. Unsere Untersuchungen fuer das Jahr 2010 zeigen, dass 37 Milliarden Euro oder 1,5% des BIP in den Übergangs zu einer kohlenstoffarmen Wirtschaft investiert wurden.
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Landscape of Climate Finance in Germany – Executive Summary – in German(803.86 kb)

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(549.54 kb)

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(842.36 kb)

San Giorgio Group Case Study: Ouarzazate I CSP

August 28, 2012

Ouarzazate I is a 160MW Concentrated Solar Power plant in Morocco, generously supported by a subsidy from the Government of Morocco and concessional capital from international development banks. Ouarzazate I only makes economic sense if it contributes to the development of a commercially-sustainable regional Concentrated Solar Power market. Projects like Ouarzazate I play a crucial bridging role but, in order to scale-up projects like these, costs need to fall and revenues need to grow.
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Ouarzazate-I-CSP(1.22 MB)
Ouarzazate-I-CSP-Morocco-Case-Study-Summary-Poster(207.49 kb)
Ouarzazate-I-CSP-Update(607.77 kb)

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(1.02 MB)

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(564.16 kb)

San Giorgio Group Case Study: Walney Offshore Windfarms

June 1, 2012

Walney Offshore Windfarms (WOW) in the U.K., the largest offshore windfarm in the world in 2012, faced financing challenges because of the risks associated with this immature though promising technology and the escalating European debt crisis. Through a combination of U.K. policy support and innovative financial engineering, the project was successful in attracting nontraditional investors including a pension and a private equity fund.
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Walney-Offshore-Windfarms(1.12 MB)

San Giorgio Group Case Study: Prosol

June 1, 2012

Program Solaire (Prosol) is an incentive program that promotes residential solar water heaters in Tunisia. In the early 2000s, the deployment of solar water heaters remained low due to fossil fuel subsidies. The Tunisian government had attempted to discontinue the fossil fuel subsidies, but a public outcry caused policymakers to abandon this course of action.
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Prosol-Tunisia-SGG-Case-Study(1.43 MB)

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(588.51 kb)

Deforestation Slowdown in the Brazilian Amazon: Prices or Policies?

March 21, 2012

Brazilian deforestation rates fell from 27,000 km2 in 2004 to 7,000 km2 at the end of the decade. Results indicate that the conservation policies associated with the policy turning points were effective at curbing Amazon deforestation, helping avoid an estimated 73,000 km2 of Amazon forest clearings from 2005 through 2009. This is equivalent to approximately 2.7 billion tons of stored CO2, which our estimates value at 13.2 billion US dollars.
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Deforestation Slowdown in the Brazilian Amazon – Prices or Policies – Executive Summary(188.92 kb)
Deforestation Slowdown in the Brazilian Amazon – Prices or Policies – Technical Paper(4.63 MB)
Queda do Desmatamento na Amazônia- Preços ou Políticas(193.75 kb)
Deforestacion – Precios o Politicas – Sinopsis – Spanish(417.31 kb)
Penebangan hutan di Amazon – Harga atau Kebijakan – Ringkasan Eksekutif – Bahasa(425.86 kb)

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(356.61 kb)

The San Giorgio Group Inaugural Meeting: Proposed Analytical Program

January 1, 2012

On October 16th and 17th, 2011, Climate Policy Initiative (CPI) and the World Bank Group, in collaboration with China Light & Power (CLP) and the Organization for Economic Co-operation and Development (OECD), hosted the inaugural meeting of the San Giorgio Group (SGG).
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SGG Inaugural(192.75 kb)

Improving the Effectiveness of Climate Finance

November 23, 2011

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

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

November 1, 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(415.10 kb)
Annual Review of Low-Carbon Development Chapter Summaries(441.16 kb)

The Landscape of Climate Finance

October 1, 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(406.37 kb)
The Landscape of Climate Finance(1.48 MB)

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

October 1, 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(751.97 kb)

Smart Power Market Project

September 1, 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 Project Overview(699.51 kb)
Smart Power Market Executive Summary(691.46 kb)
Neuhoff_Smart power markets for Europe(626.33 kb)
Congestion Management Paper(451.67 kb)
Quantitative Simulation Paper(1.63 MB)
Nodal Pricing Implementation Q&A Paper(830.10 kb)
Technical Aspects of Nodal Pricing Workshop Report(211.61 kb)

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

September 1, 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(326.32 kb)
Information Tools for Energy Demand Reduction(774.24 kb)
Using-Tax-Incentives-to-Support-Thermal-Retrofit-Summary(277.40 kb)
Costs, Benefits, and Financial Support for Thermal Retrofit(409.35 kb)
Policy Map(833.05 kb)
Policies Supporting Thermal Efficiency in Germany's Building Sector(268.26 kb)
Effectiveness of Energy Performance Certificates(1.64 MB)

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

September 1, 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(1.18 MB)

Energiekonzept: Instrumente für energetische Sanierungen

August 1, 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(434.92 kb)
Kosten, Nutzen und finanzielle Unterstützung für energetische Sanierungen
Steueranreize zur Förderung energetischer Sanierungen
Informationsinstrumente zur Förderung von Energieeinsparungen
Beweggründe für Sanierungsentscheidungen und Zweifamilienhausbesitzern
DIW Wochenbericht – Die Effektivität des Energieausweises – Ergebnisse aus Deutschland

Renewable Energy Financing and Climate Policy Effectiveness

July 1, 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(241.68 kb)

Impact of Reductions and Exemptions in Energy Taxes and Levies

June 1, 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 (German)(443.45 kb)
Reductions and Exemptions on Energy Taxes(1.25 MB)

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

May 1, 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(87.24 kb)

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

May 1, 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(185.79 kb)

PV Industry and Policy in Germany and China

March 1, 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(1.03 MB)

Review of Low-Carbon Development in China 2010

February 1, 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(842.22 kb)

Carbon Pricing Project

February 1, 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(364.19 kb)
Climate Change, Investment, and Carbon Markets and Prices(2.27 MB)
Emissions Trading Schemes under IFRS(393.90 kb)
Relative Importance of Policy Elements(572.39 kb)
Role of CDM Post-2012(468.17 kb)

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

December 1, 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-Finance1(737.61 kb)

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