Vera Songwe

🌍 We are excited to share insights from the brand new "Transition Indicators" report by Climate Strategies! As decision-makers gather at the Bonn #Climate_Change_Conference, new research highlights the importance of #Transition_Indicators. These indicators articulate positive outcomes, facilitate dialogue, guide policy implementation, and enhance investment frameworks. 🌱 Dive into UCL's Bipashyee Ghosh's case study on page 51, focusing on water security in India. This study highlights the importance of innovative transition indicators in addressing water scarcity and promoting climate resilience. 💧 Explore the full report below: 🔗 https://buff.ly/3Kt3Tu3 #ClimateAction #TransitionIndicators #WaterSecurity #Sustainability

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The UN and partners, including the NDC Partnership, have announced the regional meetings, "NDCs 3.0 Regional Fora," which aim to raise ambition in the next round of climate pledges amid record temperatures and climate impacts. Learn more ➡️ https://lnkd.in/gFNPBcfi. Organized by UN Environment Programme, UNDP, UN Climate Change and the NDC Partnership, the NDCs 3.0 Regional Fora will help countries align the next round of their climate commitments with the goal of limiting global warming to 1.5 degrees C and increasing resilience to climate impacts. NDCs 3.0 Regional Fora will take place in: 📍The Pacific: 12-16 Aug., Samoa 📍Latin America & Caribbean: 27-29 Aug., Colombia 📍Eastern Europe & Central Asia: 3-5 Sep., Türkiye 📍Middle East & North Africa: 23-25 Sep., Tunisia 📍Asia: 30 Sep-2 Oct., Thailand 📍Africa: 7-9 Oct., Rwanda Meeting a 1.5-degree target requires reducing global #GHG emissions by 42% by 2030 and urgent, country-driven adaptation backed by appropriate finance. About the fora: ✅ The fora will use insights from COP28 and the Global Stocktake to focus on mitigation options, adaptation solutions and the inclusion of super pollutants in #NDCs. ✅ Participants will engage in peer learning, explore financing models and develop policy roadmaps for implementation. ✅ As climate change drives nature and biodiversity loss, the fora will encourage countries to align climate targets with commitments on nature, pollution and sustainable development in their NDCs. The NDCs 3.0 Regional Fora are organized in collaboration with partners including the UNEP-convened Climate & Clean Air Coalition, UN-REDD Programme, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and regional partners like Secretariat of the Pacific Regional Environment Programme (SPREP), United Nations APDIM-ESCAP , United Nations Economic and Social Commission for Western Asia (ESCWA) and the Asian Development Bank (ADB).

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🏦 The Big Bank Theory - Do bigger multilateral development banks mean better development outcomes? A new briefing, published today by Recourse Christian Aid Big Shift Global and Trend Asia, challenges this assumption. We call on the The World Bank IFC - International Finance Corporation International Monetary Fund Asian Development Bank (ADB) Asian Infrastructure Investment Bank (AIIB) and other MDBs to focus on improving the quality, and the accountability, of their financing, rather than the quantity. The report calls out the current approach of #MDBs which focuses on leveraging private sector financing to boost its lending capacity. This risks derailing development outcomes in pursuit of private profits. The continued push for a “bolder bank” is also undermining accountability standards by delegating financial decision-making authority from government shareholders to MDB management. And the incessant focus of tripling renewable energy finance by 2030, while a welcome development, leads to a systematic neglect of the impacts of extractive green industries and false solutions, and will be undermined by the MDBs failure to comprehensively #StopFundingFossilFuels for good. More here 👉 https://lnkd.in/enmNiGTD https://lnkd.in/e4YAKi-8

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As the World Bank spring meetings progress this week, read this analysis of why the 'bigger, better, bolder' World Bank will put profit before people, poverty reduction or the environment, and will continue to invest in damaging fossil fuels. We call for the bank to put people before profit to deliver on its public finance mandate.

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As countries seek to accelerate their transition to low-carbon economies, green taxonomies provide frameworks for both policymakers and investors to understand whether an economic activity is sustainable. For Brazil, where agriculture and deforestation drive three-quarters of greenhouse gas emissions, establishing sustainability criteria for land use is both essential and urgent. The recent report by Climate Policy Initiative/PUC-Rio (CPI/PUC-Rio), "Brazilian Sustainable Taxonomy: Inputs for Classifying Land Use Activities," provides an overview of national and international sustainability initiatives to better understand the various sustainability dimensions, implementation stages, objectives, and applications. The analysis highlights just how relevant these definitions are - applying criteria from different initiatives reveals that the alignment of rural credit with sustainability varies widely, from 1% to 44% for the 2022/23 agricultural year, depending on the classification used. The report emphasizes the urgent need for clear, harmonized criteria for sustainable land use in Brazil, advocating for criteria that can be verified and monitored effectively. This work provides critical recommendations for structuring and implementing the Brazilian Sustainable Taxonomy, aiming for swift and impactful action. Congratulations to Wagner F. Oliveira, Gabriela C., Priscila Zeraik de Souza and Carolina Moniz De Moura! Read the full report here: https://lnkd.in/eRPmsUHR #Brazil #SustainableTaxonomy #LandUse #ClimateFinance

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As negotiators gather in Bonn at #SB60 to prepare for #COP29, here are some refelctions on how can we ensure that the money mobilized to address the climate crisis is not only sufficient in quantity, but also effective in quality

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Including gender-responsive measures in PPPs can help to further promote gender equality and achieve stronger socioeconomic impacts. The PPP gender toolkit has has been released. See excellent blog of World Bank colleagues on the topic https://lnkd.in/euWekEFu #PPP, #gender

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🌿CANARI's Board Chair, Cletus Springer, presented plenary remarks on the 'Caribbean We Want' as a new 10-yr sustainable development agenda for #SIDS was launched at the #SIDS4 Civil Society Forum last evening. 📹 Watch here as he highlighted unmet challenges and 4 actionable recommendations for more inclusive, resilient and sustainable development. 🔗 Discover more about CANARI's 'Caribbean We Want' position paper, here: https://lnkd.in/gJxjgyAJ #CaribbeanWeWant #SustainableFuture #SIDS #SIDS4

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Join us on May 27 to discuss the role of middle-income countries in global development!

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ADB supports Nepal’s development strategy to advance sustainable growth by investing in infrastructure, improving access to basic services, and protecting poor and vulnerable people from disaster and climate risks. Explore this #ADBFactSheet for an overview of ADB's Nepal operations. 👉 https://ow.ly/3f7Q50SC6lo

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Today AFL-CIO and the International Trade Union Confederation - ITUC brought together unions, US government agencies, international organizations, and civil society to preview the AFL-CIO's new Pro-Worker Climate Migration Policy Framework. Informed by the experiences of unions and workers, this framework provides a roadmap for policymakers to work at the intersection of labor, climate, and migration policy to prioritize the needs and rights of all workers in the face of climate-induced displacement and migration. You can take a look here: https://lnkd.in/gCjTPtGc

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We are grateful for the Swedish Government’s 🇸🇪 strategic support to continue our second RWI phase of human rights efforts in Asia and the Pacific Region. Building on the successes of our first period, this next phase focuses on fostering just transitions to climate-resilient and nature-positive societies. Our commitment to human rights and gender equality remains at the forefront, with a particular emphasis on regional collaborations, citizen-led initiatives, and the inclusion of marginalized groups in climate change responses, together with key national and regional key stakeholders including #ASEAN and several other partners helping making a difference in peoples daily lives across the region, kudos to Sweden 🇸🇪 Anna Hammargren Sida Regeringskansliet, Utrikesdepartementet Daniel Blockert 🙏🙏

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G20 Brasil 2024 Finance Ministers and Governors wrapped up their meeting in Washington. They covered (1) climate change transition and climate finance with a focus on incentives for private capital, and (2) scaling up the lending capacity of multilateral development banks.

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I expect a good discussion on what more donors should do to assist #media and ensure better access to accurate #information at a time of massive #disinformation and #misinformation.

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Are you one of the people who tracks what the U.S. International Development Finance Corporation is doing? Are you wondering if it is focusing enough on development. To assess whether DFC is doing its job, it’s first important to understand how DFC’s money flows and is allocated. In this joint ODI and The Energy for Growth Hub blog that I co-wrote with Todd Moss, we try to explain in plain language how DFC spends its money and where it goes. We hope you find this “explainer” useful, particularly as DFC is up for reauthorization in the coming year. Let us know if you have any questions, though, because it can be confusing -- even for people who work at DFC! 😀 Spoiler alert: DFC is doing a very good job spending the vast majority of its programmatic resources in low income and lower-middle income countries, which is where it is supposed to prioritize its efforts. “So one way of assessing DFC’s development commitment is how it allocates its programmatic budget, particularly the subsidies. Unfortunately, the two public DFC project databases don’t contain this information, but the USAspending.gov portal https://lnkd.in/eaXtn6We does. For example, DFC provided a $9.5 million loan to Apollo Agriculture in Kenya — a lower-middle income country https://lnkd.in/eT9Uqt4T . For Treasury to provide DFC with that guarantee, DFC had to pay nearly $2.8 million. That project will provide loans to farmers, encouraging higher developmental impact. By contrast, for a $55 million car financing facility that DFC established in Colombia, it did not have to pay the US Treasury anything to issue the loan.” (and thanks to Hamna Tariq for all your help in crunching the data!) https://lnkd.in/ex7w_phB https://lnkd.in/encU7wDd Erin Erlenborn Chris Avila Elizabeth O'Bagy Joshua Klein Andy Olson Nancy Lee Jacqueline Novogratz Liz Schrayer Larry Sacks Tjada D'Oyen McKenna Elizabeth Boggs Davidsen Raul Flores Damilola Ogunbiyi Tom Hart Ndidi Okonkwo Nwuneli Samantha Attridge Hans Peter Lankes Frederique Dahan Nisha Biswal Michael Metzler Cindy Huang Daniel Balke Sally Paxton Joan M. Larrea

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