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.
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.
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 we identify 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. We also reveal investment patterns that allow us to pinpoint where the biggest barriers and opportunities are.
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...
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.
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.
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.
Roadmap to a Low Carbon Electricity System – Fact Sheets(105.49kb)
Roadmap to a Low Carbon Electricity System – Parts 1 and 2(671.86kb)
Roadmap to a Low Carbon Electricity System – Executive Summary(154.34kb)
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.
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.
Manipulacao de Estimativas de Fatores de Capacidade em contratos de emergia eolica – Sumario Executivo(443.10kb)
Misreporting in Wind Power Contracts – Technical Paper(663.51kb)
Misreporting in Wind Power Contracts – Executive Summary(604.06kb)
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.
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.
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.
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.
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%.
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.
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.
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.
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.
Production and Protection – A First Look at Key Challenges in Brazil [executive summary](717.78kb)
Production and Protection – A First Look at Key Challenges in Brazil(3.80MB)
Produção e Proteção – Importantes Desafios para o Brasil [sumário executivo](875.02kb)
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.
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.
Técnicas Agrícolas de Alto Rendimento- Barreiras à Adoção e Soluções Potenciais(1.41MB)
High Productivity Agricultural Techniques in Brazil – Adoption Barriers and Potential Solutions(1.42MB)
High Productivity Agricultural Techniques in Brazil – Adoption Barriers and Potential Solutions – Technical Paper(1.10MB)
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.
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.
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.
World Bank Group Risk Mitigation Instruments for Climate Change Brief(407.42kb)
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.
September 04, 2013
Barbara Buchner, Senior Director, was invited to speak on the role of Development Finance Institutions and Development Banks (DFIs and ...
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.
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.
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.
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.
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)
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.
April 9, 2013
This report compares energy efficiency policy in buildings in China, Germany, and the United States, providing the context for, and ...
March 27, 2013
National Development Banks (NDBs) can play a big role in climate finance. In many cases, they already are: In CPI’...
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.
The Challenge of Institutional Investment in Renewable Energy(2.02MB)
The Challenge of Institutional Investment in Renewable Energy – Executive Summary(874.48kb)
The Challenge of Institutional Investment in Renewable Energy – Factsheet(469.38kb)
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.
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)
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.
Risk Gaps: Executive Summary(589.84kb)
Risk Gaps: A Map of Risk Mitigation Instruments for Clean Investments(877.98kb)
Risk Gaps: Policy Risk Instruments(778.36kb)
Risk Gaps: First-Loss Protection Mechanisms(798.75kb)
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.
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.
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.
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.
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.
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)
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.
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)
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.
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.
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.
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.
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.
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.
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.
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.
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.
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)
January 24, 2012
Investment in European electricity transmission requires facilitation at the European level. The rate at which renewable energy is integrated into ...
The building sector is a key focus area of the Energy Concept of the German Federal Government, among other reasons ...
Published 23 November 2011
A joint study by Environmental Defense Fund, Climate Policy Initiative, Brookings Institution, and Overseas Development Institute.
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?
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.
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.
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.
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)
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.
Drivers of Thermal Retrofit Decisions – A Survey(326.32kb)
Information Tools for Energy Demand Reduction(774.24kb)
Costs, Benefits, and Financial Support for Thermal Retrofit(409.35kb)
Policies Supporting Thermal Efficiency in Germany’s Building Sector(268.26kb)
Effectiveness of Energy Performance Certificates(1.64MB)
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.
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.
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)
Published July 2011
CPI's Renewable Energy Finance project assesses the impact of policy on the availability and mix of investment in renewable energy.
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.
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.
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.
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.
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.
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.
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)
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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