The Climate Investment Funds (CIF) were established in 2008 as a multilateral climate fund in order to finance pilot projects in developing countries at the request of the G8 and G20. The CIF administers a collection of programs with a view of helping nations fight the impacts of

climate change Present-day climate change includes both global warming—the ongoing increase in Global surface temperature, global average temperature—and its wider effects on Earth's climate system. Climate variability and change, Climate change in ...

and accelerate their shift to a

low-carbon economy A low-carbon economy (LCE) is an economy which absorbs as much greenhouse gas as it emits. Greenhouse gas (GHG) emissions due to human activity are the dominant cause of observed climate change since the mid-20th century. There are many proven ...

. Tariye Gbadegesin, a Nigerian-American national, is the current

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

of CIF. CIF works in partnership with governments, the

private sector The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The private sector employs most of the workfo ...

, civil society, local communities, and six major

multilateral development banks An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, alt ...

(MDBs). CIF investments are overseen by a governing board that provides equal authority to donor and recipient countries with input from official observers representing the private sector, civil society, and indigenous peoples. CIF consists of two funds; the Clean Technology Fund and the Strategic Climate Fund.

Clean Technology Fund

The

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

is the Trustee of the CIFs, which works with most major multilateral development banks. In June 2019, the CIF governing board decided to indefinitely postpone its "

sunset clause In public policy, a sunset provision or sunset clause is a measure within a statute, regulation, or other law that provides for the law to cease to be effective after a specified date, unless further legislative action is taken to extend it. Unli ...

." Solar thermal power provides a useful illustration because it shows promise as a renewable option for

base load The base load (also baseload) is the minimum level of demand on an electrical grid over a span of time, for example, one week. This demand can be met by unvarying power plants or dispatchable generation, depending on which approach has the best m ...

power. A recent study indicates that under a

carbon pricing Carbon pricing (or pricing) is a method for governments to Climate change mitigation, mitigate climate change, in which a monetary cost is applied to greenhouse gas emissions. This is done to encourage polluters to reduce fossil fuel combustion, ...

scheme with charges consistent with the low-end requirements for safe atmospheric carbon loading, public financing through the CTF Fund could close the cost gap between solar thermal and coal-fired power in a 5 to 10-year program that expands capacity at 500–1000 MW/year. Total Clean Technology Fund subsidies for this program would be $4 - 8 billion, easily within the range for a serious multilateral effort.

Strategic Climate Fund

The Pilot Program for Climate Resilience (PPCR) is the first program under the Strategic Climate Fund. It seeks to explore practical ways to mainstream climate resilience into core development planning and budgeting that is consistent with poverty reduction and sustainable development goals. The PPCR will build on National Adaptation Programme of Action (NAPAs) and other national strategies and work in 11 pilot countries and regions. It is aligned with, and maintains links to, the Adaptation Fund established under the

Kyoto Protocol The was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change (UNFCCC) that commits state parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is oc ...

. The Scaling-Up Renewable Energy Program (SREP) in Low Income Countries, approved in May 2009, is aimed at demonstrating the economic, social and environmental viability of low carbon development pathways in the energy sector by creating new economic opportunities and increasing energy access through the use of

renewable energy Renewable energy (also called green energy) is energy made from renewable resource, renewable natural resources that are replenished on a human lifetime, human timescale. The most widely used renewable energy types are solar energy, wind pow ...

.When it Comes to Climate Investment Funds, Diverse Management is Imperative
/ref> The Forest Investment Program (FIP), approved in May 2009, aims to support developing countries' efforts to reduce emissions from deforestation and forest degradation by providing bridge financing for readiness reforms and public and private investments. It will finance efforts to address the underlying causes of deforestation and forest degradation and overcome barriers that have hindered past efforts to do so.

CTF-SCF Joint

The Climate-Smart Urbanization Program is an initiative by the Climate Investment Funds (CIFs) meant to support

cities A city is a human settlement of a substantial size. The term "city" has different meanings around the world and in some places the settlement can be very small. Even where the term is limited to larger settlements, there is no universally agree ...

. The City Climate Finance Gap Fund assists cities in implementing infrastructure development projects that are low-carbon, pushing investments for climate and "green" objectives through technical help for early-stage planning and project preparation. The Gap Fund was launched during the 2019 UN Climate Action Conference and began operations in September 2020. It is sponsored by

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

and

Luxembourg Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France on the south. Its capital and most populous city, Luxembour ...

and implemented by the

and the

European Investment Bank The European Investment Bank (EIB) is the European Union's investment bank and is owned by the 27 member states. It is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt sol ...

References

External links

Climate Funds Update - Information on international funding initiatives to tackle climate change

Proposed Climate Investment Funds (CIF)
(

).
CGDEV Statement Before The Subcommittee
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}.
Environment Matters
World Bank Economics and climate change

Clean Technology Fund

Strategic Climate Fund

CTF-SCF Joint

See also

References

External links