Carbon Finance Meeting Washington DC., Nov 15, 2010
The GEF can play a useful and growing role in emerging and developing carbon markets GEF’s engagement with carbon finance has been sporadic. New options will be explored under GEF-5 given Council guidance approval of Programming Document. Context of the Meeting
Meeting Goal To exchange information and develop a common understanding of GEF’s role in the carbon markets Objectives To take stock of the GEF’s engagement in carbon finance To explore options under GEF-5 to expand the work with carbon finance To develop a common understanding between GEF Secretariat, Agencies, Council and other key stakeholders on the options available under GEF-5.
Prior Experience GEF has engaged in projects with carbon finance components, for example: India / Philippines / Indonesia Chiller Energy Efficiency Project – WB Indonesia Geothermal Power Generation Development Program - WB Kyrgyzstan Small Hydro Power (SHP) Development – UNDP Colombia Mechanism for voluntary mitigation of greenhouse gas emissions - IDB
In the Future How to develop GEF’s engagement in the carbon markets ? What are GEF’s added-value and comparative advantage in the context of carbon finance ? What should be the boundaries to GEF’s intervention in this area ?
GEF’s added value in carbon finance could : Mitigate perceived risks to realize untapped opportunities Promote innovative technologies and business models Nurture new markets
GEF’s added value in carbon finance will not : Take all the risks resulting from uncertainty of transactions, markets, and climate negotiations Cover all transactions costs, including project documentation and development of methodology
Meeting Deliverables Brainstorm new ideas and develop a common understanding on GEF’s involvement in carbon finance under GEF-5 Identify potential GEF carbon finance projects - Using STAR funding or potentially Focal Area Set- Aside funding Identify challenges and opportunities
Thank You! Dr. Robert Dixon Leader, Climate and Chemicals Team Tel: Website: