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Publications
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Leveraging National Development Banks to Enhance Financing for Climate-Smart Urban Infrastructure
March 3, 2021This report sets the stage to explore the mandate and capacities of National Development Banks in accelerating financing for local governments’ climate-smart urban infrastructure.
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Nova Investida Contra Legislação Fundiária: Projeto de Lei nº 510/2021 Retoma os Retrocessos da MP nº 910/2019 e Beneficia Invasores de Terras Públicas
Para entender o que está em discussão e avaliar as implicações do PL nº 510/2021 nas políticas fundiária e ambiental, pesquisadoras do CPI/PUC-Rio selecionaram os principais parâmetros da Lei nº 11.952/2009 alterados pelo PL nº 510/2021 e compararam a lei em vigor com os dois principais projetos de lei em discussão, o PL nº 2633/2020 e o PL nº 510/2021.
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A Framework for Tracking Cooling Investment
February 23, 2021Global cooling needs are significant and expected to continue growing rapidly. This knowledge brief proposes a new approach to identify and track cooling transactions.
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Improving the impact of fiscal stimulus in Asia: An analysis of green recovery investments and opportunities
February 17, 2021India, Indonesia, the Philippines, Singapore, and South Korea have together announced a total of USD 884 billion in COVID-19 recovery stimulus packages. This study maps the ‘greenness’ of these fiscal stimulus measures and their contribution towards country-level climate objectives.
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Improving Public Contracting Processes of Socio-Eviromental Studies for Brazil's Land Transportation Projects
February 11, 2021In this report, researchers from CPI/PUC-Rio analyze in detail the public contracting process for EVTEA and EIAs for land transport infrastructure projects in the Amazon and reveal: a lack of transparency in the contracting process and a lack of criteria for selection, evaluation and approval of the studies.
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Avanços ou Retrocessos na Regularização Fundiária? Análise do Projeto de Lei Nº 2633/2020 sob o Enfoque das Salvaguardas Ambientais
Para entender o que está em discussão e avaliar a eficácia do atual PL nº 2633/2020, pesquisadoras do CPI/PUC-Rio fizeram uma análise detalhada da legislação fundiária em vigor e de todas as propostas que foram discutidas ao longo do processo de tramitação da MP nº 910/2019 e do PL nº 2633/2020.
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An Analysis of Urban Climate Adaptation Finance
February 5, 2021While many cities have begun enacting policies and programs to build resilience towards climate hazards, there are numerous barriers to financing urban adaptation activities.
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Panorama dos Direitos de Propriedade no Brasil Rural
Nesse trabalho, pesquisadoras do CPI/PUC-Rio identificam os principais problemas da atual situação fundiária no país e caminhos para melhorias.
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The Potential for Scaling Climate Finance in China / 中国扩大气候金融规模的潜力
This report provides an overview of the potential for climate finance, green finance and innovative finance to accelerate China’s decarbonization and support its transition to a green economy.
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South African Climate Finance Landscape 2020
January 28, 2021This Landscape informs ongoing efforts by the Government of South Africa to understand how climate finance flows throughout the economy.
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Adaptation Finance in the Context of Covid-19
Morgan Richmond, June Choi, Paul Rosane, Matthew Solomon, Bella Tonkonogy, Dominic Molloy, Felipe Larrain and Jennifer Jacobowitz RaeJanuary 22, 2021As we enter a new year is that there is not only an array of tools at our disposal to tackle this existential challenge, but also growing recognition of the urgency to do so.
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Guidelines for Building a National Landscape of Climate Finance
We outline the process for developing a national climate finance landscape in four steps. By working through each step, countries will learn key insights to how, when, and from whom finance is flowing towards climate action.
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The Impact of Rural Credit on Agriculture and Land Use: An Analysis of Brazilian Biomes
Understanding the impact of rural credit is essential for formulating better agricultural policies in Brazil. In this Insight, researchers from the CPI / PUC-Rio detail the effects of credit in each Brazilian biome.
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USICEF 2020 Impact Report
December 31, 2020In just three years, USICEF has identified over 30 early-stage businesses across 20 states in India, mobilized USD 200mn in debt financing, and has committed a total of USD 5.1 million in grant-based funding to these projects.
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Electricity market reform – Tamil Nadu case study
Udetanshu, Himanshu Baghel and David NelsonDecember 29, 2020This case study addresses key elements of electricity market reforms and technology development that are central to the ability of Tamil Nadu, and India as a whole, to meet its decarbonisation goals.
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Electricity market reform - Karnataka case study
Udetanshu, Himanshu Baghel and David NelsonDecember 29, 2020Karnataka is well placed to meet its energy needs over the next decade thanks to the rapid deployment of renewables. But capacity additions of solar and wind are not enough on their own to help the state meet its targets.
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Updated View on the Global Landscape of Climate Finance 2019
December 18, 2020This update to the Global Landscape of Climate Finance 2019 report offers a preliminary estimate for finance in 2019, drawing on data published in 2020.
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Urban Climate Finance in the Wake of COVID-19
December 14, 2020From the USD 20.5 trillion pledged to COVID-19 recovery globally, only USD 1.1 trillion dollars have been committed to cities.
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Paris Misaligned?
December 10, 2020Globally, 29% of new power investment in 2018, or approximately USD 129 billion, was invested in fossil fuel power putting the world on a temperature trajectory of over 3.2°C – more than double the level targeted in the Paris Agreement.
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Where Does Brazil Stand With the Implementation of the Forest Code? An Snapshot of the CAR and the PRA in Brazil's States – 2020 Edition
December 10, 2020The report provides a detailed analysis of state regulations and identifies actions underway in the states. It highlights progress made to date and the strategies enacted by states that are farther
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Rural Credit Policy in Brazil: Agriculture, Environmental Protection, and Economic Development
December 7, 2020In this report, researchers from CPI/PUC-Rio provide an in-depth analysis of Brazilian rural credit policy and discuss challenges and recent progress in public policy. The analysis benefits from years of research and discussions with policymakers, the private sector, and academic researchers.
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Understanding the impact of a low carbon transition on Uganda’s planned oil industry
Matthew Huxham, Muhammed Anwar, Eoin Strutt and David NelsonDecember 2, 2020Since 2013, the value of Uganda’s oil reserves has fallen more than $40bn (70%) to $18bn. Under a low-carbon transition aligned with Paris goals, the value of the oil could drop further, to 88% of its value seven years ago.
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Fostering Economic Resilience in Berau through Smallholder Crop Diversification
November 26, 2020This CPI study explores crop diversification opportunities to support independent smallholders in Berau for better long-term outcomes
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Energizing Finance: Understanding the Landscape 2020
Chavi Meattle, Morgan Richmond, Valérie Furio, Federico Mazza, Jolly Sinha, Jakub Linstaedt and Caroline DreyerNovember 19, 2020The Energizing Finance series provides a comprehensive analysis of commitments flowing to the two key areas of energy access: electrification and clean cooking.
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Scaling Innovative Climate Finance Instruments: Experience from the Lab
Bella Tonkonogy, Morgan Richmond and Jane ChuNovember 18, 2020While challenging, scaling up climate finance ideas is possible, and is greatly facilitated by four success factors that can be influenced by the entrepreneurs developing these initiatives and their stakeholders.
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Brazil's Infrastructure Project Life Cycles: From Planning to Viability. Creation of a New Phase May Increase Project Quality
November 12, 2020In this brief, researchers from CPI/PUC-Rio and Inter.B collaborated to analyze the instruments available for infrastructure planning – particularly those related to the land transport sector.
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Examining the Climate Finance Gap for Small-Scale Agriculture
November 12, 2020Less than 2% of total climate finance goes to small-scale farmers in developing nations. This report proposes a methodology to measure climate finance flows to small-scale agriculture in developing countries and provides a snapshot of climate finance to small-scale agriculture in 2017/18.
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Global Landscape of Renewable Energy Finance 2020
November 10, 2020This report provides actionable recommendations for policy makers and other stakeholders to scale up investment and mobilize capital in the renewable energy sector.
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IDFC Green Finance Mapping 2020
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Indeks Desa Membangun Plus (IDM+): Enhancing Direct Incentives for Sustainable Land Use in Indonesian Villages
November 5, 2020This paper proposes a two-part approach for a potentially sweeping, but relatively practical reform to encourage villages across Indonesia to adopt sustainable practices.
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Measuring the Indirect Effects of Transportation Infrastructure in the Amazon
October 9, 2020In this Whitepaper, researchers from CPI/PUC-Rio highlights the need for the logistics projects’ EVTEA and EIAs to incorporate and correctly identify the indirect effects that result from the changes in transportation costs induced by improvements. It describes how using a combination of geoprocessing tools and statistical analysis can be used to identify these impacts and provides an example of their importance.
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Changes in Energy Sector Financing During COVID-19
This brief, part of the Energizing Finance series, provides an analysis of international finance commitments and disbursements to Sierra Leone – one of the countries worst affected by the 2014-2016 Ebola outbreak.
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Sub-national Climate Finance Initiative
SnCF is expected to be the first private equity fund to feature a Technical Assistance Facility that provides local government capacity building and certifies all projects for SDG impact prior to investment.
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Rural Prosperity Bond
The Rural Prosperity Bond (RPB) provides loans to SMEs working in land restoration in Africa, South Asia and Latin America.
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GreenStreet Africa
GreenStreet Africa develops and aggregates portfolios of distributed solar projects at public health and education facilities for implementation by private IPPs or ESCOs, financed with local capital markets solutions.
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Monetizing Water Savings
September 29, 2020MWS is a novel, collaborative approach to improve economic outcomes for farmers, create resilient supply chains and increase water efficiency by using “pay for performance” to accelerate sustainable agriculture practices in water-stressed regions
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GROVE: Forestry Smart Ledger
September 29, 2020GROVE: FSL crowdfunds capital for smallscale forestry projects, reduces monitoring costs through remote sensing and machine learning, and increases financial transparency and local community earnings through blockchain-backed smart contracts.
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Conexsus Impact Fund
September 29, 2020The Conexsus Impact Fund is the only fund in Brazil designed to redirect federal subsidized credit (Pronaf) to sustainable production systems and those that keep forests standing.
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Climate Adaptation Notes
The first instrument to address water scarcity in Southern Africa by streamlining adaptation project financing into a single instrument through a partnership between commercial banks and institutional investors.
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Sustainable Agriculture Finance Facility
September 29, 2020The Sustainable Agriculture Finance Facility provides customized bundled loans that match the farmers’ needs and takes into account specific ICLF parameters.
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Ferrogrão: Weaknesses and Lessons Learned in Implementing a Sustainable Infrastructure Agenda
September 23, 2020CPI/PUC-Rio has assessed Ferrogrão’s governance, planning, and environmental risks as a way to contribute to the ongoing debate on sustainable infrastructure policies and projects in the country. This executive summary presents three studies conducted over the last year, which: (i) analyze the robustness of Ferrogrão’s planning based on a set of structuring questions, which should be prepared in the pre-feasibility stage; (ii) evaluate the administrative rites and the governance of decision-making related to the project; and (iii) develop an innovative methodology to understand Ferrogrão’s area of influence and deforestation risk.
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Landscape of Green Finance in India
Mahua Acharya, Jolly Sinha, Shreyans Jain and Rajashree PadmanabhiSeptember 11, 2020Climate Policy Initiative’s Landscape of Green Finance in India presents the most comprehensive information on green investment flows in the country in FY 2017-FY 2018.
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Projetos de lei Ameaçam Código Florestal: Propostas Podem Reduzir Proteção à Floresta
O atual Código Florestal tem sido objeto de propostas legislativas para alterar seu conteúdo desde sua edição. Pesquisadoras do CPI/ PUC-Rio fizeram o levantamento e análise dos projetos de lei em tramitação no Congresso Nacional e identificaram que há, atualmente, 56 projetos de lei que pretendem modificar as regras do Código Florestal, dos quais sete podem anular avanços feitos até hoje para a sua implementação.
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Potential Implementation Risks in the Pilot Energy Efficiency Auction in Roraima
August 26, 2020The present work aims to explain the EE auction design and to point out and assess the risks of the proposed model regarding its implementation in Roraima’s pilot. The contributions seek to mitigate the risks tied to the Winner’s Curse, perfect the chosen measurement and verification methodology and present the implementation challenges associated to the misalignment between the interests of the electricity distributor and those of the central planner.
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Risk Management in Brazilian Agriculture: Instruments, Public Policy, and Perspectives
In this report, CPI/PUC-Rio researchers analyze the current risk management instruments and public policies and discuss pathways for improving their impact on Brazilian agriculture.
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Green Banking in China – Emerging Trends
August 13, 2020This report provides an overview of the development of green banking practices in China, identifying major policies and practices, performance to date, as well as barriers to further
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Enhancing the Role of National Development Banks in Supporting Climate-Smart Urban Infrastructure
August 4, 2020This paper focuses on enhancing the role that National Development Banks play in supporting the acceleration of climate-smart urban infrastructure investment.
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The Need to Better Define and Delimit Area of Influence for Infrastructure Projects
August 4, 2020In this technical note, researchers from CPI/PUC-Rio (i) analyze how areas of influence are currently defined by government bodies and in the Terms of Reference for EVTEA and EIAs for land transportation infrastructure projects; (ii) present a set of recommendations for the adoption of clearer criteria for the definition and demarcation of areas of influence for new projects, from a perspective that explicitly incorporates where the direct and indirect effects of this type of undertaking will occur; and (iii) propose a dialogue between the EVTEA and the EIA.
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The Role of Cooperatives in Rural Credit: Cooperative Credit Grows During the Economic Crisis and Supports the Inclusion of Small-Scale Producers
July 23, 2020This brief analyze cooperatives’ participation in rural credit, addressing both recent developments and potential challenges
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Brazil Needs to Monitor its Tropical Regeneration: Remote Monitoring System is Technologically Feasible, but Needs Public Policy Support
This paper offers recommendations on how to move forward in developing remote systems to monitor secondary vegetation.
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Medida Provisória Recompensa Atividades Criminosas: Análise da MP 910/2019 que Altera o Marco Legal da Regularização Fundiária de Ocupações em Terras Públicas Federais
A análise da MP 910/2019 feita pelas pesquisadoras do CPI/PUC-Rio indica que a MP 910/2019: legitima a grilagem e o desmatamento ilegal; promove o desalinhamento das políticas fundiária e ambiental e favorece médio e grandes produtores rurais em detrimento de agricultores familiares, povos indígenas e comunidades tradicionais.
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Accelerating Green Finance in India: Definitions and Beyond
There is a growing need to sensitize India’s financial sector about the importance and benefits of Green Finance, and ways to accelerate green capital flows in India.
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Green finance in China: achieving sustainability through finance
This paper explores how green finance in China can go beyond financing assets that are consistent with sustainability goals to fulfill the investment needs required to transform sectors or China’s economy to a more sustainable model.
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Improving Efficiency for Air Conditioners: The Role of the Manaus Free Trade Zone
June 22, 2020This policy brief, analyzes the production line of air conditioning sector in Brazil with a focus on productive and energy efficiency.
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Green Bonds in China: the State and Effectiveness of the Market / 中国绿色债券市场：趋势与分析
June 10, 2020The Chinese green bond market expanded rapidly from 2016-2019, with more than USD 120 billion of cumulative issuance.
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Adjustments to the New Concessions Law Bill Could Ensure Higher Quality, and More Sustainable Infrastructure
In this technical note, researchers at CPI/PUC-Rio, analyze the legislative process of the new Concessions Law bill from a social and environmental perspective. They recommend items that could be incorporated into the bill to head off potential conflicts currently handled later in the project life cycle — notably during the environmental licensing procedure — and which would foster bidding on more robust, higher quality projects, promoting safer investments, and ensuring social and environmental protections.
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Protected Territories, Though Critical, are Not Enough to Slow Amazon Deforestation: Brazil Requires Coordinated and Targeted Conservation Policies
New work from CPI/PUC-Rio shows that protected territories shielded forests under their domain, but they also appear to have deflected deforestation to unprotected regions. The findings highlight the local effectiveness of these territories, and thereby support their use in protecting high-value areas. Yet, results also reinforce the importance of pursuing protection strategies in combination with integrated conservation policy efforts to reduce deforestation throughout the Amazon.
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Enhancing Decentralized Renewable Energy Investment in Indonesia
May 14, 2020Existing decentralized renewable energy business models fail to address prevailing barriers in the sector, ranging from policy barriers, limited access to finance, and high investment risks, discouraging private investments.
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Indonesia Environment Fund
April 27, 2020The regulatory framework of a public service agency provides solid legal basis for a robust and flexible vehicle to fund activities for public interest, including managing money from international donors.
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Questions and Answers on Provisional Measure 910
April 20, 2020Researchers from the CPI/PUC-Rio prepared 10 questions and answers to clarify what is at stake with Provisional Measure 910.
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A Snapshot of Global Adaptation Investment and Tracking Methods
April 9, 2020This brief outlines the current state of global finance for climate adaptation, and includes potential new data sources and recommendations to improve adaptation finance tracking going forward.
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Targeting Deforestation, Boosting Regeneration: Efforts to Combat Forest Clearings in the Amazon Promote Tropical Regrowth
April 2, 2020New work from CPI/PUC-Rio shows that environmental monitoring and law enforcement exclusively aimed at reducing Amazon deforestation helped boost tropical regeneration. Results suggest that environmental and socio-economic gains from conservation policies may be larger than initially presumed. Today, it would be both timely and strategic for Brazil to incorporate the promotion and protection of tropical regeneration into its conservation policy agenda.
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Novo Relatório do Senador Irajá Abreu sobre a MP 910/2019, Mantém Regras Prejudiciais à Regularização Fundiária
A análise preliminar deste novo relatório feita pelas pesquisadoras do CPI/PUC-Rio identificou que o relator: (i) mantém as principais regras prejudiciais à regularização fundiária; (ii) recua em alguns avanços que tinham sido feitos no relatório anterior; (iii) faz alguns avanços tímidos e (iv) insere contrabandos legislativos.
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Does the Manaus Free Trade Zone Have an Impact on Industry Efficiency?
March 30, 2020This study, carried out by researchers from the CPI/PUC-Rio, analyzes the impact of the Manaus Free Trade Zone (ZFM) on Brazilian industry, especifically productive efficiency and energy efficiency. The researchers note that the efficiency levels of the ZFM and Brazil are similar, that is, despite the high volume of tax breaks granted to the ZFM industries, there is no counterpart in terms of efficiency.
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The Impacts of Rural Credit on Agricultural Outcomes and Land Use: An Analysis by Credit Lines, Producer Types and Credit Uses
In this work, Climate Policy Initiative (CPI/PUC-RIO) provides a detailed impact analysis of the Brazilian Rural Credit policy on agricultural production, land use and deforestation.
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Relator da MP 910/2019 Flexibiliza Ainda Mais a Regularização Fundiária
A análise do relatório legislativo feita pelas pesquisadoras do CPI/ PUC-Rio identificou que as principais mudanças propostas pelo relator flexibilizam consideravelmente mais as regras para a regularização fundiária. As alterações: (i) favorecem ainda mais médios e grandes ocupantes de terras públicas, em detrimento de pequenos agricultores; (ii) diminuem o controle sobre áreas embargadas ou que foram objeto de infração ambiental; e (iii) mantém o desalinhamento das políticas fundiária e ambiental.
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The Environmental Impacts of the Ferrogrão Railroad: an Ex-Ante Evaluation of Deforestation Risks
March 13, 2020In this work, researchers from CPI/PUC-Rio show that the construction of the Ferrogrão railroad will induce farmers and ranchers located in the state of Mato Grosso to expand their production, increasing land demand. If no mitigation measures are implemented, this will lead to the clearing of about 2,043 square kilometers of native vegetation in almost forty municipalities of the state of Mato Grosso.
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Jabuti em Medida Provisória Enfraquece a Proteção da Floresta Amazônica no Código Florestal
Pesquisadoras do CPI/PUC-Rio analisaram estas emendas e descobriram que elas poderão diminuir automaticamente a Reserva Legal de 80% para 50% nos estados de Roraima e Amapá, enfraquecendo a proteção da Floresta Amazônica no Código Florestal, além de reduzir mais de quatro mil hectares da Floresta Nacional de Roraima.
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Tracking Adaptation Finance: Advancing Methods to Capture Finance Flows in the Landscape
Morgan Richmond and Karoline HallmeyerDecember 20, 2019In this brief, we set out potential methods to fill data gaps in adaptation tracking in the Landscape and propose methods to measure progress.
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Where does Brazil Stand With the Implementation of the Forest Code? A Snapshot of the CAR and the PRA in Brazil's States
This document summarizes the main findings and takeaways of a full report (available in Portuguese) produced by analysts from (CPI/PUC-Rio). The full report provides an overview of the Forest Code in Brazil’s states, and gives a detailed analysis of regulatory efforts at the state level. It identifies actions already underway in the states, progress made, major challenges and flaws, and primary public policy recommendations.
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IDFC Green Finance Mapping Report 2019
The International Development Finance Club (IDFC) is the leading group of 26 national and regional development banks from all over the world, the majority of which are active in emerging markets. During the United Nations Climate Action Summit 2019, IDFC resolved to mobilize significant volumes of financing for meeting climate and development goals.
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Productivity for Cattle Ranching in Brazil: Pastureland Declines Might Show a New Pathway
November 28, 2019This white paper from CPI/PUC-Rio, outlines the close connection between cattle productivity and the share of farmland devoted to this activity. Estimates using Agricultural Census data from the last four decades show that these variables are inversely related, indicating that cattle ranching becomes more productive as ranch size declines. Additional empirical exercises suggest that the cost of the land relative to the capital might explain this relationship. Finally, the white paper presents policy lessons that might show a pathway for intensifying cattle ranching without inducing further deforestation.
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Brazil Knows What to Do to Fight Deforestation in the Amazon: Monitoring and Law Enforcement Work and Must be Strengthened
The present study, conducted by researchers at CPI/PUC-Rio, indicates that this monitoring system works. Results also suggest that forest protection did not interfere with local agricultural production, and that its expected benefits outweighed the associated policy costs.
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Why is Protecting the Amazon Important?
This infographic developed by CPI/PUC-Rio research team shows that protecting the Amazon is important for economic growth
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Global Landscape of Climate Finance 2019
Barbara Buchner, Alex Clark, Angela Falconer, Rob Macquarie, Chavi Meattle, Rowena Tolentino and Cooper WetherbeeNovember 7, 2019The 2019 edition of Climate Policy Initiative’s Global Landscape of Climate Finance provides the most comprehensive overview of global climate-related primary investment.
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Sustainable Infrastructure in the Amazon: Strengthening Socio-Environmental Planning and Design for New Infrastructure Projects in Brazil
October 31, 2019This project developed by CPI/PUC-Rio, aims to advance proposals for changes to current regulations and guidelines that would incorporate socio-environmental risk assessments throughout the decision-making processes and lifecycle of infrastructure projects. Guided by experts in these fields, the project will also promote dialogue with key stakeholders involved in decision-making and implementation of the regulatory proposals and guidelines.
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Measuring the Private Capital Response to Climate Change: A Proposed Dashboard
Padraig Oliver, Alex Clark and Angela FalconerOctober 28, 2019This brief, which is part of CPI’s work on tracking global climate finance flows, proposes a preliminary methodological approach and analytical framework to measure the nature and speed of shifts in private capital in response to climate change.
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Alterações no CAR e no PRA: O que Muda para os Produtores Rurais
October 25, 2019Neste documento, especialistas do CPI/PUC-Rio e INPUT trazem uma análise das mudanças recentes e explicam as implicações para os produtores rurais com o objetivo de auxiliá-los a entrar em conformidade com a lei. A participação efetiva dos produtores no cumprimento das normas é fundamental para a implementação do Código Florestal.
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Energizing Finance: Understanding the Landscape 2019
Federico Mazza, Chavi Meattle, Rahul Barua, Valérie Furio, Jolly Sinha, Morgan Richmond, Elysha Davila and Caroline DreyerOctober 22, 2019The Energizing Finance series, developed by SE4All in partnership with CPI, is the first and only in-depth attempt to capture multiple years of data on finance for the two key areas of energy access: electrification and clean cooking.
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Congresso Nacional Aprova Alterações ao Código Florestal: Mudanças na Lei Trazem Mais Segurança Jurídica para o CAR e o PRA
October 17, 2019Neste documento, pesquisadoras do CPI/PUC-Rio, por meio da iniciativa INPUT, apresentam uma análise detalhada das alterações ao Código Florestal decorrentes da Lei 13.887/2019, esclarecem a aplicação das novas regras, examinam lacunas existentes e identificam possíveis desafios de implementação.
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The Future of Infrastructure in Brazil Under Discussion: an Integrated Vision of Proposed Legislation is Needed to Ensure Progress
October 10, 2019In this document, researchers with the CPI/PUC-Rio analyze the opportunity for a comprehensive discussion that would ensure better infrastructure and environmental conservation in Brazil, using the proposed legislation as a starting point. This could benefit the productive sector and society as a whole.
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The Lab: 2018-2019 Cycle Instrument Analysis
Dario Abramskiehn, Morgan Richmond, Ricardo Narvaez, Ben Broche, Valérie Furio, Sarah Conway, Federico Mazza, Felipe Borschiver, Amanda Lonsdale, Valerio Micale, Hélène Van Caenegem, Daniela Chiriac, Soumaila Diakite, Rosaly Byrd and Randy RakhmadiOctober 2, 2019Lab members voted to endorse all six financial mechanisms and enterprises in the Lab’s 2019 class in a side event to the UN Climate Action Summit, officially launching them for operation, and offering inputs for their implementation pathways.
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The Breathe Better Bond Initiative
September 27, 2019A bond issue with tied in technical assistance and financial incentives for local governments to finance air pollution and GHG emission reducing urban infrastructure in emerging market cities
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Blockchain Climate Risk Crop Insurance
Valerio Micale and Hélène Van CaenegemSeptember 27, 2019A standardized, digital index crop insurance platform for smallholder farmers that addresses the impacts of climate change on crop production by making insurance more transparent, efficient, and scalable
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Solar Securitization for Rwanda
September 27, 2019A securitization which allows solar developers’ to obtain capital to expand their sales, meeting the clean energy access needs of African households
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Restoration Insurance Service Company (RISCO)
A social enterprise that finances and manages implementation of mangrove restoration and conservation by capturing the financial benefits generated by reducing property damage risks and storing blue carbon
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Cooling as a Service (CaaS)
Dario Abramskiehn and Morgan RichmondSeptember 27, 2019A pay-per-service model to decrease energy consumption and greenhouse gas emissions from cooling systems in cities around the world, by making more efficient cooling technologies more accessible to customers
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Implementing Alignment: Recommendations for the International Development Finance Club
September 19, 2019This study identifies the changes the Paris Agreement implies for the role of Development Finance Institutions (DFIs) – specifically members of the IDFC – and how they may implement these changes through a targeted set of activities.
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Projeto de Lei de Conversão da MP 884/2019 Inviabiliza a Regularização Ambiental de Propriedades Rurais
September 9, 2019Nesta nota técnica, CPI/PUC-Rio analisam o Projeto de Lei de Conversão 22/2019 proveniente da Medida Provisória 884/2019, que altera artigos do Código Florestal e pode regularizar automaticamente milhares de propriedades rurais se for aprovado no Congresso Nacional sem alterações. O PLV 22/2019, aprovado por unanimidade no dia 4 de setembro de 2019, na Comissão Mista da MPV 884/2019, afeta drasticamente o Programa de Regularização Ambiental (PRA).
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A Sustainable Economic Transition for Berau, East Kalimantan
This CPI study, produced as part of Project LEOPALD or Low Emissions Oil Palm Development examines whether palm oil’s potential as an economic driver will bear out for Indonesia’s goals, using Berau as an example case.
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Nova Proposta de Alteração do Código Florestal Traz Ameaças à sua Implementação: Medida Provisória 884/2019 Possui Implicações que Vão Além do CAR
Nesta nota técnica, pesquisadores do CPI/PUC-Rio, indentificam que a Lei 12.651/2012, conhecida como novo Código Florestal, constitui uma oportunidade única para o Brasil conciliar o aumento da produção agropecuária e a preservação do meio ambiente. Porém, passados sete anos da sua publicação e pacificadas as discussões sobre a sua aplicação pelo Supremo Tribunal Federal, a sua implementação está sob risco.
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Alternative Investment Funds as a Potential Pathway for Refinancing Clean Energy Debt in India
Divjot Singh, Dhruba Purkayastha and Gireesh ShrimaliJuly 10, 2019Alternative Investment Funds offer the best near and medium-term path to expanding renewable energy access to capital markets.
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Pathways for Sustainable Agricultural Production in Brazil: Necessary Investments and Potential Gains of Increasing Efficiency
June 19, 2019This publication summarizes the findings from a recent research project by CPI/PUC-Rio which computes the capital costs of maximizing Brazil’s agricultural production without increasing deforestation. This research provides unique insights in potential policy changes needed in Brazil to help farmers overcome the constraints they face to invest in modern technologies, inputs and equipment.
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Aligning Rural Credit with the Forest Code
This document, which was elaborated by CPI/PUC-Rio, recommends the association between Rural Credit and the Forest Code to be put in practice in the next Plano Safra (2019/2020) – which is Brazilian annual agricultural plan.
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Developing a Guarantee Instrument to Catalyze Renewable Energy Investments in Indonesia
This CPI study, produced in collaboration with PT Sarana Multi Infrastruktur (Persero) explores the potential of developing a green investment bank model in Indonesia.
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Proposta do Relator da MPV 867/2018 Coloca em Risco o Novo Código Florestal
Esta Nota Técnica mostra que aprovação do Projeto de Lei de Conversão da forma proposta pelo relator representa um retrocesso, pois enfraquece e retarda a implementação do novo Código Florestal. Em especial, a proposta gera um grande risco de paralização de todos os PRA em andamento, amplia os benefícios aos proprietários rurais que desmataram ilegalmente, além de trazer um risco concreto de judicialização das novas regras por alterarem drasticamente a Lei 12.651/2012.
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Decreto nº 9.760/2019 Altera Regras de Conversão de Multa Ambiental em Prestação de Serviços Ambientais
Neste documento, pesquisadoras do CPI/PUC-Rio, através do projeto INPUT, analisam as principais mudanças provocadas por esse novo decreto no procedimento de conversão de multa ambiental, identificando quais regras foram mantidas, quais foram alteradas e quais foram revogadas. Para uma melhor compreensão do impacto dessas mudanças, as pesquisadoras também mapeiam como se deu a evolução da legislação federal sobre conversão de multa ambiental. Finalmente, são identificadas as principais incertezas e lacunas que precisam ser enfrentadas para a efetiva implementação do programa de conversão de multa.
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The Impact of Rural Credit on Brazilian Agriculture and the Environment
April 17, 2019This brief summarizes findings from an emerging research by CPI/PUC-Rio on the role rural credit plays in Brazil. CPI analysts, under INPUT, determined that rural credit makes a significant difference in raising agricultural productivity and improving land use. The analysts conclude that lack of financial resources often limits farmers’ production possibilities in Brazil. Improved credit access allows producers to make new decisions that lead to higher productivity.
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Combating Illegal Deforestation: Strengthening Command and Control is Fundamental
This white paper, developed by CPI/PUC-Rio, proposes actions to solidify and improve monitoring and law enforcement in the fight against illegal deforestation. These proposals draw on empirical evidence on the effectiveness and limitations of Brazilian public policy.
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Sumário Executivo - Crescimento Econômico Mais Sustentável para o Brasil
March 26, 2019O relatório, realizado pelo CPI/PUC-Rio em cooperação com o Banco Interamericano de Desenvolvimento mostra que o Brasil tem potencial para impulsionar o crescimento econômico sustentável usando suas terras de maneira mais produtiva, dando escala à ação em energia renovável e eficiência energética e reduzindo o tempo gasto no transporte de carga e o desperdiçado pelos trabalhadores no trânsito.
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Understanding the impact of a low carbon transition on South Africa
Matthew Huxham, Muhammed Anwar and David NelsonMarch 26, 2019 -
Amendments to a Provisional Measure Threaten the Implementation of Brazil's new Forest Code
This technical note addresses the Law 12,651/2012, nearly seven years since its enactment the debate has subsided about its implementation, and amendments to a provisional measure are being considered by Congress. The provisional measure addresses the necessary extension of the deadline for entry into the Environmental Regularization Program (PRA), but also contains amendments that aim to deeply change the law, threatening the implementation of the new Forest Code. Due to the procedures for approving provisional measures, these changes are being proposed without sufficient reflection or debate, without any public participation, and with limited parliamentary involvement. Finally, it is important to emphasize that the amendments do not meet the standards of urgency and relevance typical of provisional measures
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Developing a roadmap to a flexible, low-carbon Indian electricity system
Udetanshu, Brendan Pierpont, Saarthak Khurana and David NelsonFebruary 13, 2019Without policy intervention and new market design, India’s clean electricity future may struggle to achieve its potential.
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The Land-use Finance Tool
The Land-use Finance Tool offers methodological guidelines to countries, jurisdictions and their partners to map public and private investments that support forest and climate objectives, and those which might be driving deforestation.
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Large-scale Reforestation: Starting with Public Lands in the Brazilian Amazon
In this brief, researchers at CPI/PUC-Rio propose a starting point for this effort. They argue that cleared lands within public domain in the Amazon offer a unique opportunity for Brazil to implement large-scale reforestation by relying on natural forest regeneration.
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Understanding and Increasing Finance for Climate Adaptation in Developing Countries
December 13, 2018This report explores the current state of finance for climate adaptation and proposes practical, near term solutions to both fill in knowledge gaps and to increase investment.
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Financial Challenges and Proposals for Sustainable Production in Brazil
How can sustainable production process be accelerated in Brazil? What is the role of public policy? How can existing financial instruments in the country be reformed to align a production and protection agenda? CPI/PUC-Rio has identified three directives for policy alignment that will make important headway in reforming rural credit and creating stronger incentives for environmental conservation.
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Global Climate Finance: An Updated View 2018
Padraig Oliver, Alex Clark and Chavi MeattleNovember 27, 2018Global Climate Finance: An Updated View 2018 condenses a set of updated findings from our Global Landscape of Climate Finance 2017 report based on newly published data for 2015 and 2016, to provide the latest and best information possible for policy makers and investment leaders working to scale up investment for climate change action.
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Energizing Renewables in Indonesia
Suzanty Sitorus, Randy Rakhmadi, Alke Rabinsa Haesra and Muhammad Ery WijayaNovember 19, 2018This study aims to understand the role of public finance instruments for clean energy and identify opportunities to optimize them to spur private investment in Indonesia.
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Energizing Finance: Understanding the Landscape 2018
Federico Mazza, Chavi Meattle, Saurabh Trivedi, Randy Rakhmadi, Alke Rabinsa Haesra, Elysha Davila and Caroline DreyerNovember 12, 2018The Energizing Finance series focuses on public and private finance commitments in 20 developing countries – known as the high-impact countries – that together account for nearly 80% of those living without access to sustainable energy.
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Ensuring Greener Economic Growth for Brazil
November 3, 2018Based on economic and policy analysis by CPI/PUC-Rio in cooperation with the Inter-American Development Bank , Brazil’s Ministry of Planning, Development and Management, and the WWF, This report looks at three sectors that are critical to creating a greener future for the nation: land use, energy, and transportation. For all three sectors, CPI delivers one message: promoting economic growth aligns with achieving Brazil’s climate commitments.
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Drivers and Challenges for Rooftop Solar Loans to Small and Medium Enterprises in India
Jolly Sinha, Sagar Srijan Joshi and Gireesh ShrimaliOctober 31, 2018A CAPEX model with a commercial loan for the off-taker is a potential solution for these categories of customers. In this report, we assess the viability of the CAPEX loan model with a focus on the MSME sector, identify barriers to uptake, and recommended policy solutions to these barriers.
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Empowering Oil Palm Smallholder Farmers through Alternative Livelihoods
Alke Rabinsa Haesra, Cherika Novianti Hardjakusumah and Muhammad Ery WijayaOctober 26, 2018This brief focuses on the business model aspects of two alternative livelihoods – cattle feed and fisheries – with application specifically to the East Kotawaringin and Katingan districts of Central Kalimantan in Indonesia.
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The Lab: 2017-2018 Cycle Instrument Analysis
October 12, 2018Selected for development from among hundreds of ideas submitted, the Lab’s investors prioritized ideas from sectors that remain critical for climate change action.
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Credit Support Pathways for Rooftop Solar Projects in India
Vaibhav Pratap Singh, Resham Bagaria, Vijay Nirmal Gavarraju, Aparna Khandelwal, Dhruba Purkayastha, Upendra Bhatt and Gireesh ShrimaliOctober 8, 2018The proposed Credit Guarantee Mechanism addresses the most important barriers to scaling rooftop solar in the MSME sector; and could be crucial if India wants to achieve its rooftop solar target by 2022.
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The Dynamics of Agricultural Technology Adoption in Brazil: Evidence Shows Three Distinct Patterns of Technology Uptake
This new report researchers at CPI/PUC-Rio and INPUT aims to fill this gap. It leverages recently released municipality-level information from Brazil’s 2017 Agricultural Census to describe the evolution of three agricultural practices typically connected with processes of agricultural intensification: direct planting system, a modern soil conservation technique, tractors, and fertilizers.
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Challenges and Opportunities of Energy Efficiency: A Look at Brazilian Industry
September 28, 2018This brief introduces an analysis of energy efficiency and productivity in Brazilian industry. CPI/PUC-Rio researchers show that, energy efficiency and productive efficiency in the Brazilian industry are related. Because of that, challenges in promoting energy efficiency align with broader issues regarding sectoral productivity.
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Battery Subscription Facility
An electric bus battery financing mechanism to provide long-term debt financing to the electric transit sector in India, and reduce the ownership cost of electric buses to compete with diesel buses
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Responsible Commodities Facility
September 28, 2018A vehicle to promote the responsible production of commodities, particularly soy, in the Brazilian Cerrado biome, through incentives to plant in already cleared and degraded lands
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Caaporã | The Socio-Climate Benefits Fund
September 28, 2018A fund to increase forest restoration in the Amazon by investing and providing technical assistance to restore degraded lands in smallholders’ farms with agroforestry systems and, at the same time, developing and facilitating sales of their products
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Smallholder Forestry Vehicle
A vehicle to increase clean energy access through mini-grids in Sub-Saharan Africa, by addressing demand and revenue risk through a risk pooling guarantee
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Green Aggregation Tech Enterprise (GATE)
A vehicle to increase clean energy access through mini-grids in Sub-Saharan Africa, by addressing demand and revenue risk through a risk pooling guarantee
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Pay As You Save for Clean Transport
A vehicle to accelerate investment in clean transit by lowering the upfront cost of electric buses, allowing a utility to capitalize the on-board battery and charging station for bus owners and recover its costs with a predictable monthly charge
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The Residential Rooftop Solar Accelerator
Divjot Singh, Jolly Sinha and Gireesh ShrimaliSeptember 28, 2018A vehicle to accelerate mass adoption of residential rooftop solar to power 200 million households in India, through standardized product offering, easy financing and efficient execution at scale
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PopLuz | Distributed Energy for Social Housing (DESH)
September 10, 2018The Distributed Energy for Social Housing Fund (DESH) is a financial solution that can accelerate distributed solar power for low-income tenants in Brazil. It is a third-party ownership and rental model for distributed solar systems in low-income condominiums in Brazil. It provides a robust, low-risk structure for investors, and energy cost savings for the low-income tenants.
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Smallholder Forestry Vehicle
The Smallholder Forestry Vehicle packages tree production partnership contracts with thousands of smallholder farmers and sells them to investors, providing farmers and forestry companies with access to low-cost, long-term finance while enabling institutional investors to access sustainable forestry investments.
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Financing for Low-Carbon Auto Rickshaws
Vaibhav Pratap Singh and Labanya Prakash JenaSeptember 10, 2018Financing for Low-Carbon Auto-Rickshaws is a loan product that will enable drivers to purchase electric auto-rickshaws by providing debt financing for 100% of the purchase, lower interest rates, and no collateral requirements.
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Deep decarbonization by 2050: Rethinking the role of climate finance
Given the fundamental role finance plays in all facets of the global economy, it’s time to ask: How does a focus on 2050 change how we spend money today?
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Towards a More Sustainable and Efficient Palm Oil Supply Chain
Tiza Mafira, Randy Rakhmadi and Cherika Novianti HardjakusumahJuly 16, 2018Berau can reach optimal palm oil production levels and fulfill mill capacity needs with minimal land expansion, however, smallholders – who represent a key piece of the supply chain – currently face challenges preventing them from operating efficiently.
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The Fragmented Rules of Brazilian Rural Credit
July 2, 2018In this brief, CPI/PUC-Rio analysts identify features of the rural credit policy that create a fragmentation of rules and, consequently, additional artificial variation in credit access and loan conditions
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Transitional Foreign Exchange Debt Platform
Vinit Atal, Dhruba Purkayastha and Gireesh ShrimaliJune 18, 2018Analyzing all the pertinent constraints to the stakeholders in this case study we propose a solution that appears most feasible: A Transitional Foreign Exchange Debt Platform.
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Designing Technical Assistance Activities for Adaptation and Resilience Companies
This CPI working paper focuses on understanding what would be needed for adaptation and resilience companies – specifically, analytics, or intelligence, companies – to expand in developing countries. Analytics companies help clients measure their potential impacts from climate change and identify measures to reduce them.
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An Assessment of India's Energy Choices
A four-report series that looks at the future of renewable energy in India along different economic dimensions, including the social costs, macroeconomic impacts, environmental impacts, financial risk, and flexibility considerations.
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Addressing Off-Taker Risk in Renewable Projects in India
Vinit Atal, Gireesh Shrimali and Vaibhav Pratap SinghMay 8, 2018One of the most important risks to the Indian renewable energy sector is the counterparty credit risk, associated with the risk of state-owned utilities delaying or defaulting on their contractual payments to power producers, adding as much as 1.07% of additional risk premium to the cost of debt for renewable energy projects (CPI, 2018), and also limiting the availability of capital.
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Indonesia’s Village Fund
Guntur Sutiyono, Saeful Muluk, Tiza Mafira and Randy RakhmadiApril 3, 2018In keeping with its goals for sustainable economic growth and an inclusive and equitable economy, Indonesia is committed to avoiding deforestation. As the drivers of deforestation often originate from activities outside of forest borders, it is not enough to solve deforestation by conducting segregated actions targeted to specific forest areas. Indonesia must also work to strengthen the rural economy and improve regional collaboration by working across various administrative jurisdictions that encompass forest governance. To ensure the success of this jurisdictional approach, improved economic power and village governance are key.
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Approaches to assess the additionality of climate investments
Donovan Escalante, Dario Abramskiehn, Karoline Hallmeyer and Jessica BrownMarch 27, 2018As governments and development finance institutions scale up delivery of climate finance commitments, the question of how to measure and ensure additionality becomes increasingly important. This paper presents new methodological approaches for assessing the additionality of climate investments, developed by Climate Policy initiative through ongoing work monitoring and evaluating the Climate Public Private Partnership (CP3).
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The Brazilian Forest Code Finally can be Implemented. What's next?
Compliance with the rules by rural producers is fundamental to the effective implementation of the Forest Code. To assist them in complying with the law, the Climate Policy Initiative/Pontifícia Universidade Católica do Rio de Janeiro (CPI/PUC-Rio) and Land Use Initiative (INPUT – Iniciativa para o Uso da Terra) offers an insight of Supreme Court decision and practical implications for producers.
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Getting to India’s Renewable Energy Targets
Labanya Prakash Jena, Chavi Meattle and Gireesh ShrimaliMarch 15, 2018This study finds that while the renewable energy sector in India offers an attractive investment opportunity that is well matched with the needs of institutional investors, there are still barriers to investment.
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Supporting the Momentum of Paris
Padraig Oliver, Bella Tonkonogy, David Wang and Xueying WangMarch 7, 2018In light of not only the scale of climate finance needs, but also the type of public finance instruments needed to leverage private flows, the importance of more connected coordination and collaboration by international public climate finance actors is crucial. Systems thinking approaches support the recognition of the effects of existing and new actors on scaling overall flows and their direction of travel, as well as support the collective optimisation of public finance interventions to achieve the scale needed – helping to understand not only the specific niche of each actor, but also how actors can most effectively coordinate and collaborate to achieve enduring impact.
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Decisão do STF Sobre o Novo Código Florestal Enfraquece a Cota de Reserva Ambiental (CRA)
March 2, 2018Em novo artigo, pesquisadoras do CPI/PUC-Rio comentam que apesar do Supremo Tribunal Federal manter os principais pilares da lei que instituiu o novo Código Florestal e abrir caminho para a sua implementação, com relação à Cota de Reserva Ambiental, ainda há uma incoerência importante.
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Nota Técnica Sobre o Julgamento do Novo Código Florestal
February 28, 2018Em nota técnica, pesquisadoras do CPI/PUC-Rio comentam que o STF deveria ter se debruçado sobre a questão principal: decidir sobre a constitucionalidade do marco temporal de 22 de julho de 2008, que cria o duplo regime jurídico – o regime geral das Áreas de Preservação Permanente e Reserva Legal e o regime especial, com parâmetros mais flexíveis, das áreas consolidadas em APP e Reserva Legal.
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Distribution Channels for Rural Credit
February 27, 2018In this Brief, CPI/PUC-Rio analysts, under INPUT, have partnered with the Central Bank of Brazil to conduct a comprehensive analysis of rural credit distribution channels. It provides an overview of how the distribution channels for credit generate additional uncertainties for producers. It describes how credit is administered and distributed, focusing on the effects access to agricultural funding has at the local level.
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Scaling up Rooftop Solar Power in India: The Potential of Solar Municipal Bonds
Saurabh Trivedi, Indro Ray and Gregor VulturiusFebruary 22, 2018A new model for municipal financing for rooftop solar, via issuance of municipal bonds, has the potential to increase debt availability for rooftop solar project developers and lower rooftop solar costs up to 12% in Indian cities.
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Blended Finance in Clean Energy: Experiences and Opportunities
January 25, 2018 -
Global Landscape of Renewable Energy Finance 2018
Barbara Buchner, Cameron Carswell, Chavi Meattle, Padraig Oliver, Xueying Wang, Henning Wuester, Costanza Strinati, Caroline Dreyer, Elysha Davila, Federico Mazza, Rabia Ferroukhi and Diala HawilaJanuary 13, 2018The Global Landscape of Renewable Energy 2018 report is a concise, accessible summary of finance flows to renewables around the world. The study examines finance flows worldwide in 2013-2016, broken down by technology, financial instrument, and region.
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Comentários ao Voto do Ministro Luiz Fux - ADIs Código Florestal
Em nota técnica, pesquisadoras do CPI/PUC-Rio analisaram o voto do Ministro do STF Luiz Fux no julgamento das quatro Ações Diretas de Inconstitucionalidade contra o novo Código Florestal. Elas mostram inconsistências no voto e prováveis desdobramentos para a implementação do código caso o entendimento do ministro prevaleça no STF.
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Recent Hydropower Plants In Brazil Lead To Varying Local Economics Effects
Juliano J. Assunção, Dimitri Szerman and Francisco CostaNovember 17, 2017Hydroelectricity is the largest source of energy in Brazil’s portfolio and has brought with it a charged economic and environmental debate about the impact of hydropower plants (HPP) on their surrounding areas. This brief summarizes an analysis that measures the effects of HPP’s on economic performance and finances of municipalities.
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Global Landscape of Climate Finance 2017
October 31, 2017Climate Policy Initiative’s 2017 edition of the Global Landscape of Climate Finance updates the most comprehensive assessment of annual climate finance flows with data from 2015 and 2016, providing, for the first time, a five-year trend analysis on the how, where, and from whom finance is flowing toward low-carbon and climate-resilient actions globally.
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Forest and Land Use Policies on Private Lands: an International Comparison
October 17, 2017This new study by CPI/PUC-Rio researchers with INPUT compares forest protection and land use legislation of some of the world’s top ten exporters of agricultural products, including Argentina, Brazil, Canada, China, France, Germany and the United States, in order to understand: What does compliance with the Brazilian Forest Code mean compared to what other countries are required to do by law? This exploratory legal analysis focuses on answering this first question by investigating whether other countries have limitations on the use of private rural properties similar those imposed by the Brazilian Forest Code.
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Developing Brazil’s Market for Distributed Solar Generation
October 10, 2017Renewable resources are at the center of the discussion on how to move towards a clean and reliable energy system around the world and are seen as a key instrument in combatting greenhouse gas emissions and climate change. Brazil especially holds potential for advancing its level of solar energy through distributed generation, which generates power on-site at the point of consumption. In this new study, CPI researchers analyzed more than 5.000 municipalities in Brazil and show that demandside factors drive consumer uptake of PV distributed energy generation.
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The Lab: 2016-2017 Cycle Instrument Analysis
Ricardo Narvaez, Joseph Mabe, Angela Falconer, Bella Tonkonogy, Gloria Coleman, Karoline Hallmeyer, Valerio Micale, Dario Abramskiehn, Tatiana Alves, Laura Jungman, Felipe Borschiver, Donovan Escalante, Divjot Singh, Saurabh Trivedi, Gireesh Shrimali, Vivek Sen and Vaibhav Pratap SinghSeptember 20, 2017 -
Green FIDC
Donovan Escalante, Paulo Todaro and Laura JungmanSeptember 19, 2017An instrument to package and securitize the cashflows of renewable energy projects and sell shares in local capital markets, providing long-term finance for projects in Brazil
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Lab Instrument Analysis: CRAFT
Bella Tonkonogy, Gloria Coleman, Karoline Hallmeyer and Valerio MicaleSeptember 19, 2017A fund that blends commercial and catalytic finance to invest growth equity in companies to accelerate the diffusion of climate intelligence products and resilience building solutions
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Cloud Forest Blue Energy Mechanism
Ricardo Narvaez, Joseph Mabe and Angela FalconerSeptember 19, 2017A mechanism for restoration and conservation of cloud forests in Latin America, which can improve the productivity of hydroelectric plants
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Supporting National Development Banks to Drive Investment in the Nationally Determined Contributions of Brazil, Mexico, and Chile
Dario Abramskiehn, Karoline Hallmeyer, Chiara Trabacchi, Donovan Escalante, Maria Netto, Maria Margarita Cabrera and Alexander VasaSeptember 18, 2017The Paris Agreement combats climate change through country-defined sustainable development plans, aiming to align financing flows with low-carbon climate resilient growth. National development banks and local financial institutions can play key roles in providing climate financing and supporting implementation of these plans.
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Tracking Finance for Electricity and Clean Cooking Access
Barbara Buchner, Federico Mazza, Valerio Micale, Vivien Foster, Corinna Bordewieck, Danya Li Churanek, Dana Rysankova, Rahul Barua, Cameron Carswell, Malcolm Cosgrove-Davies, Rebecca Soares, Dan Storey, Elysha Davila, Tim Varga and Alp KatalanSeptember 18, 2017The new Energizing Finance report series reveals that current flow of finance for energy access and clean cooking will not achieve global goals for delivering universal access by 2030. Yet the data also shows that by scaling and refining finance strategies, we can reach more people, more affordably, with sustainable energy.
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Nota Técnica Sobre Áreas 'Anistiadas' Pelo Novo Código Florestal
September 15, 2017Pesquisadoras do CPI questionam número divulgado por estudo sobre áreas ‘anistiadas’ pelo novo Código Florestal.
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Financing clean power: a risk-based approach to choosing ownership models and policy & finance instruments
Will Steggals, David Nelson and Gaia StiglianiSeptember 4, 2017 -
Building Resilience In Brazil's Biofuel Market
August 21, 2017The analysts observe that the rise of flex cars is a key channel for improving consumer benefits and should be taken into consideration by policymakers, especially when they consider expanding production and markets for alternative fuels, such as hydrogen and electricity.
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Clean Energy Investment Trust: financial innovation for pension funds & insurers
Uday Varadarajan, Matthew Huxham, Brian O'Connell, David Nelson, David Posner and Brendan PierpontAugust 8, 2017 -
Overcoming barriers to institutional investments in renewables
Matthew Huxham, Uday Varadarajan, Brian O'Connell and David NelsonAugust 8, 2017 -
Cota de Reserva Ambiental: Melhor Opção para Compensar Reserva Legal?
Pesquisadoras do CPI/PUC-Rio, através do projeto INPUT, analisaram as alternativas para compensação de Reserva Legal, ressaltando as vantagens e desvantagens inerentes a cada modalidade
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What Does the Surge in Amazon Regeneration Mean for Brazil?
Given the growth of the secondary regenration of the Brazilian Amazon, INPUT researchers at Climate Policy Initiative (CPI)/ PUC-Rio conducted a study to show its possible causes and consequences.
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Why are Land Rights Important to Brazil?
Secure rural land rights would benefit the whole country. This CPI’s infographic explains why this is a key issue in Brazil.
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Evolution of Land Rights in Rural Brazil: Frameworks for Understanding, Pathways for Improvement
June 6, 2017This analysis provides an in-depth look at the evolution of rural property rights in Brazil and the history that has shaped the complex situation the nation now faces.
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The Next Step Towards Climate Change Mitigation: Improving Productivity of Brazil’s Agricultural Lands
Major transformations in agriculture have promoted yield gains, without increasing new forest clearings. The studies provide four examples in which this is the case — the soybean revolution in the Cerrado, the expansion of electricity in rural areas, a recent surge of sugarcane, and a change in the relative crop-to-beef prices.
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Electrification, Agricultural Productivity and Deforestation in Brazil
May 22, 2017This study identifies productivity shocks using the expansion of rural electrification in Brazil during 1960-2000. The analysis shows that electrification increased crop productivity, and farmers subsequently both expand farming through frontier land conversion, but also shift away from cattle ranching and into crop cultivation.
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Flexibility: the path to low-carbon, low-cost electricity grids
Brendan Pierpont, David Nelson, Andrew Goggins and David PosnerApril 25, 2017 -
Conversão de Multas Ambientais em Prestação de Serviços Ambientais
April 17, 2017Neste documento, pesquisadores do CPI/PUC-Rio analisam os principais entraves para a utilização da conversão de multa ambiental em prestação de serviços ambientais e propõem recomendações a serem adotadas pelo Poder Executivo para a sua efetiva implementação. Por fim, discutem a adoção desse mecanismo através do Código Florestal
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Decarbonization of Indian Railways: Assessing Balancing Costs and Policy Risks
Complete decarbonization of the electricity demand of Indian Railways (IR) – transitioning from the current, largely fossil-fuel based energy mix to clean energy like solar and wind power – is likely to have multiple benefits. These include support in achieving India’s clean energy targets, enhancing India’s energy security, and reducing IR’s operational costs.
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Lessons and Innovations to Spur Green Investment in Developing Countries
This brief compiles and summarizes lessons from CPI analysis and projects from 2015 and 2016 on how governments and public finance institutions can work together with each other and the private sector to effectively and efficiently reduce the risks and costs of projects in order to attract green investment.
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The Productivity of International Financial Institutions’ Energy Interventions
Rodney Boyd, Martin Stadelmann, Karoline Hallmeyer and Mariano Mejìa ValenzuelaMarch 14, 2017This report analyses international financial institutions’ energy portfolios, identifies best practices, and develops an innovative methodological approach to show these organizations how they can adjust their approach to deliver on their mandates to increase economic productivity and meet environmental and social objectives while lowering energy use from fossil fuel sources at least cost.
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The Landscape of REDD+ Aligned Finance in Côte d’Ivoire
January 30, 2017This study identifies domestic and international public finance that limited deforestation and encouraged sustainable land use in Côte d’Ivoire in 2015. It provides a baseline against which to measure progress towards the levels of investment required to meet government goals for sustainable agriculture and reforestation. It also identifies opportunities to increase finance available for implementation of its National REDD+ Strategy. For example, greening the hundreds of billions of West African CFA francs (FCFA) spent annually on business-as-usual agriculture in the country could increase productivity without sacrificing the country’s forests.
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Reaching India's Renewable Energy Targets: The Role of Institutional Investors
Vivek Sen, Kuldeep Sharma and Gireesh ShrimaliDecember 21, 2016India has ambitious renewable energy targets of 175GW by 2022. In order to meet this target, the renewable energy sector in India will require $189 billion in additional investment, including $57 billion in equity, and $132 billion in debt. The potential amount of investment in the renewable energy sector in India is more than double the investment required. However, the amount of investment expected falls short of the investment required, by 29% for equity and 27% for debt. Institutional investors show significant potential to help fill this financing gap.
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Rural Settlements and Deforestation in the Amazon
Given this new focus on smaller clearings, which rural farmers and ranchers often instigate, INPUT researchers at Climate Policy Initiative (CPI)/ PUC-Rio investigated a critical question: do rural settlements cause deforestation?
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Green Bonds for Cities in Developing Countries
This report offers a strategic guide for cities in developing countries to access finance from green bonds, a potential source of finance for cities in developing countries looking to secure investment in low-carbon, climate-resilient infrastructure to meet the water, energy, housing and transportation needs of their expanding urban populations.
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European Renewable Energy Policy and Investment
David Nelson, Brian O'Connell, Luca De Lorenzo and Matthew HuxhamDecember 6, 2016 -
Panorama dos Direitos de Propriedade no Brasil Rural: Legislação, Gestão Fundiária e Código Florestal
November 9, 2016Os problemas fundiários no Brasil são tão velhos quanto nossa própria história. Até os dias de hoje, milhares de imóveis rurais estão em situação irregular, muitos agricultores não possuem títulos de propriedade e há espaços onde não é possível afirmar com certeza quem possui os direitos de propriedade sobre a terra. No Brasil, há vários municípios com áreas registradas que superam em uma, duas ou mais vezes a sua superfície territorial.
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India Innovation Lab for Green Finance: 2015-2016 Cycle Instrument Analysis
Labanya Prakash Jena, Vinit Atal, Gireesh Shrimali and Vivek SenOctober 25, 2016On October 25, 2016 the the India Lab announced endorsement of three innovative investment vehicles that will help drive millions of dollars of needed investment to India’s clean energy and green growth targets.
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Design for a District Level Natural Capital Assessment in Central Kalimantan
This working paper, produced by Climate Policy Initiative with the technical support of Palangkaraya Institute for Land Use and Agricultural Research (PILAR) and University of Palangkaraya (UNPAR), lays the foundation for district level natural capital assessment in Central Kalimantan by reviewing existing mapping and regulations, and describing the design of such a study.
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Central Kalimantan High Conservation Value Provincial Assessment
October 14, 2016Central Kalimantan is at a crucial juncture for sustainable land use. The region is in the middle of a mid-term regional development planning process and has the opportunity to make choices that benefit its communities and businesses into the future. Strong, evidence-based information on land values can inform the Strategic Environmental Assessment which feeds into the provincial spatial plan (Rencana Tata Ruang Wilayah Provinsi or “RTRWP”). This analysis provides a framework to help the Central Kalimantan government, businesses and communities make informed decisions about how to manage land more sustainably. In particular, the report identifies biological, ecological, social, and cultural values considered exceptionally important in Central Kalimantan, and identifies threats to areas where these values occur.
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Challenges and Opportunities for Efficient Land Use in Mozambique: Taxes, Financing, and Infrastructure
Researchers at Climate Policy Initiative—as part of the New Climate Economy project—examined the challenges and opportunities for investing in agriculture and natural resources management, with the goal of laying out next steps toward more efficient and sustainable land use in Mozambique. Focusing on low-cost policy modifications, we found four ways to improve agricultural productivity and natural resource management.
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Renewable Energy Scale-Up Facility (RESF)
Bella Tonkonogy, Dario Abramskiehn and Valerio MicaleSeptember 30, 2016An innovative options mechanism to dramatically reduce risk and drive large amounts of private institutional investment into early-stage renewable energy development in emerging markets
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Solar Investment Trusts (SEITs)
Divjot Singh, Saurabh Trivedi and Gireesh ShrimaliSeptember 30, 2016A solar-specific investment trust to mobilize capital to the rooftop solar sector in India
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Sustainable Energy Bonds (SEBs)
Vivek Sen, Vaibhav Pratap Singh and Gireesh ShrimaliSeptember 30, 2016A class of bonds to drive impact investment to sustainable energy in India by offering debt exposure, sufficient returns, and standardized impact measures
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Ecopec | Climate Smart Cattle Ranching (CSCR)
Tatiana Alves, Laura Jungman and Felipe BorschiverSeptember 30, 2016A business model to provide resources and technical assistance to intensify and increase cattle production in Brazil, while also restoring degraded pastures and forests, and decreasing deforestation
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Distributed Energy Generation for Cooperatives (DGC)
Felipe Borschiver, Tatiana Alves and Laura JungmanSeptember 30, 2016An instrument to finance distributed renewable energy systems in agricultural and transport cooperatives, which can help Brazil increase its share of renewables in its power supply and mitigate its carbon emissions
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The Matchmaker Service
Labanya Prakash Jena, Jolly Sinha and Gireesh ShrimaliSeptember 30, 2016A platform to drive needed private capital to sustainable urbanization projects in India by connecting investors and municipalities with a pipeline of investment opportunities
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SunSHIFT Global Fleet of Modular Moveable Megawatt Scale Solar Assets
September 30, 2016A new asset facility to back a global fleet of moveable, megawatt-scale solar farms and aims to deploy 10 MW of solar power in the first year
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Global Climate Finance: An Updated View on 2013 and 2014 Flows
Federico Mazza, James Falzon and Barbara BuchnerSeptember 29, 2016Since 2011, CPI’s Global Landscape of Climate Finance has become a benchmark for information about how finance is flowing from actors and sources, toward low-carbon and climate-resilient activities. CPI has reviewed climate finance flows for the years 2013 and 2014.
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The Drivers and Challenges of Third Party Financing for Rooftop Solar Power in India
In order to expand the rooftop solar industry in India, there is a need to develop policy solutions, business models, and financing instruments which can address these barriers. One promising solution to manage these barriers is the third party financing model. However, the third party financing model would first need to overcome certain challenges. This report explores the driving factors and challenges to the third party financing model, and proposes a series of recommendations for policy changes and financial instruments which could address these challenges.
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Insecure Land Rights in Brazil: Consequences for Rural Areas and Challenges for Improvement
This report shows that there are important social, economic, and environmental costs associated with the lack of well-defined property rights; while at the same time presenting the many complexities within Brazil’s system of land governance that need to be addressed in order to improve the system.
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As Agricultural Production Surges in Matopiba, What Are the Consequences for the Local Economy?
Despite the importance of Matopiba to Brazil’s economy, the impact and extent of this surge in agricultural output has not been thoroughly studied. For instance, this study shows that agricultural expansion in Matopiba is heavily concentrated in municipalities located in the Cerrado biome.
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Decarbonization of Indian Railways
Charith Konda, Saurabh Trivedi and Gireesh ShrimaliJuly 31, 2016One key sector of the Indian economy that could set a strategic example for decarbonization and meeting India’s 2030 targets under the Paris Agreement is the rail transport system, and specifically Indian Railways (IR), India’s national railway service. In this report, we have identified different potential pathways to decarbonization of IR by 2030 and examined their cost-effectiveness and feasibility.
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Sugarcane's Role in Fueling the Economy
July 22, 2016This publication provides insights about the widespread reach and impacts of the sugarcane mills’ expansion in Brazilian municipalities.
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Improving Brazil's Agricultural Productivity by Targeting Infrastructure
If there seems to be general agreement that transport infrastructure is lacking, what is the hurdle that prevents investment? In this paper, INPUT researchers at Climate Policy Initiative in Brazil investigate how the regulation of this market may be to blame.
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Código Florestal e Crédito Rural: como Aperfeiçoar a Integração de Duas Importantes Políticas
June 27, 2016Nesta publicação, pesquisadores do CPI/PUC-Rio, através do projeto INPUT, mostram de que maneira a associação entre o Crédito Rural e o Código Florestal pode ser aperfeiçoada e colocada em prática já em 2017, através do Plano Agrícola e Pecuário e do Programa Nacional de Fortalecimento da Agricultura Familiar (Pronaf).
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Global Innovation Lab for Climate Finance - 2015-2016 Cycle Instrument Analyses
Valerio Micale, Karoline Hallmeyer, Jessica Williams, Donovan Escalante, Dario Abramskiehn, James Falzon, Chiara Trabacchi, Bella Tonkonogy, Angela Falconer, Randy Rakhmadi, Padraig Oliver, Federico Mazza and David WangJune 27, 2016On 27 June 2016 in London, Lab Advisors and Principals met to review 2015-2016 instruments, endorse their technical design, and indicate future backing. Principals endorsed four pilot-ready instruments to unlock investment in climate adaptation and mitigation in developing countries.
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Lab Instrument Analysis: Energy Efficiency Enabling Initiative
Valerio Micale, Karoline Hallmeyer and Jessica BrownJune 27, 2016A private equity fund that relies on donor-backed equity capital, technical assistance, and risk mitigation instruments to crowd in private investment in energy efficiency
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Beyond YieldCos
Uday Varadarajan, David Nelson, Andrew Goggins and Morgan Hervé-MignucciJune 27, 2016 -
The Role of the Climate Investment Funds in Meeting Investment Needs
Chiara Trabacchi, Jessica Brown, Rodney Boyd, David Wang and James FalzonJune 3, 2016This study’s primary aim is to identify if and where the CIF business model adds value in the landscape of climate finance and whether the CIF holds a comparative advantage in supporting climate-relevant investment needs compared to other multilateral climate funds.
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Key Issues for Property Rights in Brazil: Implications for the Forest Code
The purpose of this paper is to assess how the nature of property rights in Brazil will affect the implementation of the Forest Code and the realization of the potential positive environmental impacts. This paper analyzes the historical evolution of property rights in Brazil, and it examines how the institutional structure of administering property rights affects the incentives and behavior for property owners.
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Driving Foreign Investment to Renewable Energy in India: A Payment Security Mechanism to Address Off-Taker Risk
Arsalan Ali Farooquee and Gireesh ShrimaliApril 18, 2016As India prepares to meet its increasing energy demands, which will likely double by 2030, the government has set a path towards ambitious renewable energy targets of …
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Regulierungen und Investitionen für die Energiewende
David Nelson, Matthew Huxham, Stefan Muench and Brian O'ConnellApril 14, 2016 -
Policy and investment in German renewable energy
David Nelson, Matthew Huxham, Stefan Muench and Brian O'ConnellApril 14, 2016 -
Government Assets: Risks and Opportunities in a Changing Climate Policy Landscape
Andrew Goggins and David NelsonMarch 22, 2016This 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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Comentários à Resolução Conjunta SMA/SAA nº 1/2016 sobre o PRA de São Paulo
Esta nota técnica do CPI/PUC-Rio, faz uma análise das principais questões estabelecidas pela Resolução Conjunta SMA/SAA no 1/2016, a fim de colaborar com o debate sobre a interpretação e implementação das regras do PRA no Estado de São Paulo.
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Taking Stock of International Contributions to Low Carbon, Climate Resilient Land Use in Indonesia
Angela Falconer and Skye GlendayFebruary 2, 2016This 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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Improving Land Productivity through Fiscal Policy
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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Slowing the Growth of Coal Power in China: the Role of Finance in State-Owned Enterprises
Morgan Hervé-Mignucci, Xueying Wang, David Nelson and Uday VaradarajanDecember 15, 2015CPI 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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Forest Code Compliance Flowcharts for Rural Properties
December 15, 2015These step-by-step flowcharts show how to navigate the Brazilian Forest Code and identify where potential problems may arise. They also illustrate how the environmental compliance process may differ at the state level from the process described in the Forest Code, another challenge for implementation and compliance.
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Charting a path for finance policy in clean infrastructure
Anshuman Sahoo, David Nelson and Andrew GogginsDecember 8, 2015 -
Getting the most from your green: An approach to using public money effectively through green banks and other low-carbon financing
Jeff Deason, Uday Varadarajan and Patricia LeviDecember 8, 2015This 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. -
What is Happening in Amazon Deforestation?
This infographic gives an overview of what is happening in Amazon deforestation.
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Brazil's New Forest Code: How to Navigate the Complexity
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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Brazil’s New Forest Code – Part I: How to Navigate the Complexity
This analysis, produced by researchers at CPI/PUC-Rio, is the first in a series that seeks to clarify the Forest Code in hopes of accelerating implementation and ensuring its success. This document aims at providing an overview of the code and its instruments.
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Slowing the Growth of Coal Power Outside China: The Role of Chinese Finance
China has grown into a major provider of coal power finance in overseas markets
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Estimating Mobilized Private Finance for Adaptation: Exploring Data and Methods
Jessica Brown, Martin Stadelmann, David Wang, Leonardo Boni, Raphaël Jachnik and Takayoshi KatoNovember 20, 2015This 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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Global Landscape of Climate Finance 2015
Barbara Buchner, Chiara Trabacchi, Federico Mazza, Dario Abramskiehn and David WangNovember 16, 2015The 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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Central Kalimantan’s Oil Palm Value Chain: Opportunities for Productivity, Profitability and Sustainability Gains
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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Climate Finance in 2013-14 and the USD 100 Billion Goal
October 7, 2015With 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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The Role of Technical Assistance in Mobilizing Climate Finance – Insights From GIZ Programs
Martin Stadelmann and Angela FalconerOctober 6, 2015Few 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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Towards Efficient Land Use in Brazil
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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What Counts: Tools to Help Define and Understand Progress Towards the $100 Billion Climate Finance Commitment
Paul Bodnar, Jessica Brown and Smita NakhoodaAugust 31, 2015This 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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Lessons on the Role of Public Finance in Deploying Geothermal Energy in Developing Countries
Valerio Micale and Padraig OliverAugust 21, 2015This 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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The Landscape of Climate Exposure for Investors
Dario Abramskiehn, David Wang and Barbara BuchnerAugust 20, 2015Climate 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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Strengthening Brazil’s Forest Protection in a Changing Landscape
August 17, 2015Annual 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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Technological Change and Deforestation: Evidence from the Brazilian Soybean Revolution
August 1, 2015This paper from CPI/PUC-Rio reaserch team, studies the impact of technological change in agriculture on land use in Central Brazil from 1960 to 1985. It explores technological innovations that adapted soybeans to the region to estimate the effect of these innovations on land use. Following the technological innovations, municipalities more suitable for soybean cultivation experienced increases in cropland and decreases in native pastures.
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Prices, Land Use and Deforestation: Evidence From the Tapajós Basin
This paper from CPI/PUC-Rio reaserch team, examines the impact of changes in agricultural land use on deforestation at the local level in the Tapajós basin in the Brazilian Amazon. We use exogenous variation in crop to beef relative prices to investigate the effects of pasture to crop conversion on deforestation. Our findings indicate that increases in crop to beef relative prices increase the rate of pasture to crop conversion.
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Lab Instrument Analysis: Energy Savings Insurance
Valerio Micale, Martin Stadelmann and Leonardo BoniJuly 22, 2015An instrument to insure the financial performance of energy efficiency savings projects in Mexico and other countries
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Risk Mitigation Instruments for Renewable Energy in Developing Countries: A Case Study on Hydropower in Africa
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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Three tools to unlock finance for land-use mitigation and adaptation
July 13, 2015This study presents three tools for governments and their partners to use to inform the design of efficient and effective land use mitigation and adaptation strategies supported by multilateral and bilateral programs, to identify domestic and international financial instruments that can redirect public and private finance towards greener land-use practices, and to encourage coordination between public instruments across land-use sectors.
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Reaching India's Renewable Energy Targets Cost-Effectively: A Foreign Exchange Hedging Facility
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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Using Private Finance to Accelerate Geothermal Deployment: Sarulla Geothermal Power Plant, Indonesia
Randy Rakhmadi and Guntur SutiyonoJune 16, 2015This 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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Emerging solutions to drive private investment in climate resilience
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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Achieving a high-productivity, sustainable palm oil sector in Indonesia: a landscape management approach
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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Background report for G7 on long-term climate finance
Harald Francke Lund, Christa Clapp, Asbjørn Torvanger, Jane Wilkinson, Barbara Buchner, Martin Stadelmann, Federico Mazza, Padraig Oliver and Dario AbramskiehnJune 8, 2015 -
Using Public Finance to Attract Private Investment in Geothermal: Olkaria III Case Study, Kenya
Valerio Micale, Chiara Trabacchi and Leonardo BoniJune 2, 2015This 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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Reaching India's Renewable Energy Targets: Effective Project Allocation Mechanisms
Gireesh Shrimali, Charith Konda, Arsalan Ali Farooquee and David NelsonMay 13, 2015The 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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Opportunities for Increasing Productivity & Profitability of Oil Palm Smallholder Farmers in Central Kalimantan
The Governments of Indonesia and Central Kalimantan have ambitious targets to both grow the palm oil sector and improve environmental quality by reducing deforestation, and smallholder farmers are an important part of the picture. We find that, as the plantation area managed by smallholder farmers grows, there are opportunities to improve productivity and farmer benefits within all models of smallholder organization that we examined, particularly for individual partnership and independent farmers.
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The Global Innovation Lab for Climate Finance: Phase 3 Instrument Reports
Chiara Trabacchi, Angela Falconer, Sarah Jo Szambelan, Donovan Escalante, Gianleo Frisari, Valerio Micale, Martin Stadelmann, Leonardo Boni and Padraig OliverApril 22, 2015In 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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Reaching India's Renewable Energy Targets Cost-Effectively
Gireesh Shrimali, Sandhya Srinivasan, Shobhit Goel, Saurabh Trivedi and David NelsonApril 14, 2015The 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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Lab Instrument Analysis: Climate Investor One
Padraig Oliver and Gianleo FrisariApril 7, 2015This report provides the analysis on Climate Investor One, a financing facility for early-stage development, construction financing, and refinancing to fast-track renewable energy projects in developing countries.
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Public Finance and Private Exploration in Geothermal: Gümüşköy Case Study, Turkey
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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Deforestation Slowdown in the Brazilian Amazon: Prices or Policies?
Juliano J. Assunção, Clarissa Gandour and Rudi RochaMarch 1, 2015This analysis, conducted by CPI/PUC-Rio, shows that conservation policies were effective at curbing Amazon deforestation, helping avoid an estimated 73,000 km² of Amazon forest clearings from 2005 through 2009.
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Improving Agricultural Productivity in Brazil: The Unmet Potential of Price Risk Policy
Juliano J. Assunção, Clarissa Gandour and Pedro HemsleyFebruary 25, 2015One 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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The Global Innovation Lab for Climate Finance: Phase 2 Instrument and Synthesis Reports
Donovan Escalante, Arsalan Ali Farooquee, David Wang, Valerio Micale, Jeff Deason, Padraig Oliver, Martin Stadelmann, Chiara Trabacchi, Sarah Jo Szambelan, Angela Falconer, Gianleo Frisari, Fiona Messent, Federico Mazza and Rodney BoydNovember 24, 2014The Global Innovation Lab for Climate Finance is a new, global initiative that draws on expertise from around the world to design and pilot the next generation of cutting edge climate finance instruments.
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Global Landscape of Climate Finance 2014
Barbara Buchner, Martin Stadelmann, Jane Wilkinson, Federico Mazza, Anja Rosenberg and Dario AbramskiehnNovember 20, 2014The Global Landscape of Climate Finance 2014 found that global climate finance flows fell to USD 331 billion – far below even the most conservative estimates of investment needs.
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San Giorgio Group Report: The Role of Public Finance in Deploying Geothermal - Background Paper
Valerio Micale, Padraig Oliver and Fiona MessentOctober 23, 2014Geothermal 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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Moving to a Low-Carbon Economy
David Nelson, Morgan Hervé-Mignucci, Andrew Goggins, Sarah Jo Szambelan and Julia ZuckermanOctober 8, 2014With 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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Getting Greener by Going Black: The Priority Municipalities in Brazil
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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San Giorgio Group Brief: Early Lessons on Introducing Energy Performance Contracts in Italy - Milan's Energy Efficiency Program
Valerio Micale, Jeff Deason and Morgan Hervé-MignucciSeptember 3, 2014Governments 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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San Giorgio Group Brief: How Spain created a world-leading CSP industry then shattered investor confidence
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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What Is Climate Finance? Definitions to Improve Tracking and Scale Up
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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Landscape of Public Climate Finance in Indonesia
Irfa Ampri, Angela Falconer, Noeroso Wahyudi, Anja Rosenberg, Mochamad Bara Ampera, Skye Glenday and Jane WilkinsonJuly 23, 2014Indonesia’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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Pemetaan Pendanaan Publik untuk Perubahan Iklim di Indonesia
Angela Falconer, Anja Rosenberg, Jane Wilkinson and Skye GlendayJuly 23, 2014Dalam 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.
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Cap and Trade in Practice: Barriers and Opportunities for Industrial Emissions Reductions in California
Julia Zuckerman, Karen Laughlin, Dario Abramskiehn and Xueying WangJuly 1, 2014California 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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Getting the most from your green: A case study for using public money effectively for large-scale renewable energy in California
Jeff Deason, Uday Varadarajan and Patricia LeviJuly 1, 2014This 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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Land Rental Markets in Brazil: A Missed Opportunity
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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San Giorgio Group Policy Brief: The Role of Public Finance in CSP - Lessons Learned
Martin Stadelmann, Gianleo Frisari and Anja RosenbergJune 23, 2014This 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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Roadmap to a Low Carbon Electricity System in the U.S. and Europe
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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San Giorgio Group Case Study: Eskom CSP 100MW plant, South Africa
Rodney Boyd, Anja Rosenberg and Andrew HobbsJune 13, 2014The 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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Misreporting in wind power contracts: Evidence from a feed-in tariff in Brazil
Juliano J. Assunção, Joana Chiavari and Dimitri SzermanMay 7, 2014While 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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Operationalizing the Private Sector Facility of the Green Climate Fund: Addressing Investor Risk
Barbara Buchner, Martin Stadelmann and Jane WilkinsonApril 29, 2014This 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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Solving India’s Renewable Energy Financing Challenge: Instruments to Provide Low-cost, Long-term Debt
Gireesh Shrimali, Charith Konda and Sandhya SrinivasanApril 21, 2014In 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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Solving India’s Renewable Energy Financing Challenge: Which Federal Policies can be Most Effective?
Gireesh Shrimali, Shobhit Goel, Sandhya Srinivasan and David NelsonMarch 24, 2014The 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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San Giorgio Group Case Study: The Role of Public Finance in CSP - Rajasthan Sun Technique 100MW CSP plant, India
Martin Stadelmann, Gianleo Frisari and Charith KondaMarch 10, 2014The 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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Finance Mechanisms for Lowering the Cost of Renewable Energy in Rapidly Developing Countries
David Nelson and Gireesh ShrimaliJanuary 20, 2014Renewable 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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San Giorgio Group Brief: The Role of Public Finance in CSP - Background and Approach to Measuring Effectiveness
Martin Stadelmann, Gianleo Frisari, Rodney Boyd and Jacobo FeásJanuary 17, 2014Many 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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Opportunities for a Green Bank in California
Jeff Deason, Karen Laughlin, Patricia Levi, Sarah Jo Szambelan and Uday VaradarajanJanuary 15, 2014 -
Raising the Stakes for Energy Efficiency: California’s Risk/Reward Incentive Mechanism
Sangeetha Chandrashekeran, Julia Zuckerman and Jeff DeasonJanuary 14, 2014California 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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San Giorgio Group Case Study: Insights from Nepal's Pilot Program for Climate Resilience
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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Production & Protection: A First Look at Key Challenges in Brazil
Juliano J. Assunção, Clarissa Gandour, Pedro Hemsley, Romero Rocha and Dimitri SzermanDecember 3, 2013We 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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San Giorgio Group Case Study: Kalimantan Forests and Climate Partnership
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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High Productivity Agricultural Techniques in Brazil: Adoption Barriers and Potential Solutions
Juliano J. Assunção, Arthur Bragança and Pedro HemsleyNovember 7, 2013A 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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California Carbon Dashboard
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
Barbara Buchner, Morgan Hervé-Mignucci, Chiara Trabacchi, Jane Wilkinson, Martin Stadelmann, Rodney Boyd, Federico Mazza, Angela Falconer and Valerio MicaleOctober 22, 2013The Global Landscape of Climate Finance 2013, found that global climate finance flows 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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Mapping the World Bank Group Risk Mitigation Instruments for Climate Change
Valerio Micale, Gianleo Frisari and Federico MazzaSeptember 26, 2013In 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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San Giorgio Group Case Study: Jädraås Onshore Windfarm
Rodney Boyd and Morgan Hervé-MignucciSeptember 16, 2013CPI 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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The Role of Development Finance Institutions and Development Banks in Scaling Up Green and Climate Investments
Barbara Buchner, Chiara Trabacchi, Claire Painter and Jane WilkinsonSeptember 4, 2013Drawing 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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Improving Solar Policy: Lessons from the solar leasing boom in California
Andrew Hobbs, Elinor Benami, Uday Varadarajan and Brendan PierpontJuly 25, 2013Most 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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Using Data Tools to Optimize Indonesia’s Land Resources: An Overview of Natural Capital Assessment
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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Targeting Proposition 39 to Help California’s Schools Save Energy and Money
Julia Zuckerman, Jeff Deason and Elinor BenamiMay 21, 2013California 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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DETERring Deforestation in the Brazilian Amazon: Environmental Monitoring and Law Enforcement
Juliano J. Assunção, Clarissa Gandour and Romero RochaMay 8, 2013We 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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The Policy Climate
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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Buildings Energy Efficiency in China, Germany, and the United States
Hermann Amecke, Jeff Deason, Andrew Hobbs, Aleksandra Novikova, Yang Xiu and Zhang ShengyuanApril 9, 2013This 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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The Role of National Development Banks in Catalyzing International Climate Finance
Diana Smallridge, Barbara Buchner, Chiara Trabacchi, Maria Netto, José Juan Gomes Lorenzo and Lucila SerraMarch 27, 2013National 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 Challenge of Institutional Investment in Renewable Energy
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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Does Credit Affect Deforestation? Evidence from a Rural Credit Policy in the Brazilian Amazon
Juliano J. Assunção, Clarissa Gandour, Romero Rocha and Rudi RochaJanuary 29, 2013Does 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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Risk Gaps
Gianleo Frisari, Morgan Hervé-Mignucci, Valerio Micale and Federico MazzaJanuary 21, 2013Risk — 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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Effective Green Financing: What have we learned so far?
Barbara Buchner, Thomas C. Heller and Jane WilkinsonDecember 11, 2012Overall, 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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Meeting India’s Renewable Energy Targets: The Financing Challenge
David Nelson, Gireesh Shrimali, Shobhit Goel, Charith Konda and Raj KumarDecember 5, 2012The 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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Falling Short: An Evaluation of the Indian Renewable Certificate Market
Gireesh Shrimali, Sumala Tirumalachetty and David NelsonDecember 5, 2012We 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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Global Landscape of Climate Finance 2012
Barbara Buchner, Angela Falconer, Morgan Hervé-Mignucci and Chiara TrabacchiDecember 3, 2012Global 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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German Landscape of Climate Finance
Ingmar Juergens, Hermann Amecke, Rodney Boyd, Barbara Buchner, Aleksandra Novikova, Anja Rosenberg, Kateryna Stelmakh and Alexander VasaNovember 30, 2012By 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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Die deutsche Landschaft der Klimafinanzierung
Ingmar Juergens, Hermann Amecke, Rodney Boyd, Barbara Buchner, Aleksandra Novikova, Anja Rosenberg, Kateryna Stelmakh and Alexander VasaNovember 29, 2012Als 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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Tracking Emissions and Mitigation Actions: Learning from MRV Systems in China, Germany, Italy, and the United States
Angela Falconer, Pat Hogan, Valerio Micale, Alexander Vasa, Yu Yuqing (Ariel), Xuehua Zhang, Xiaolu Zhao and Julia ZuckermanNovember 27, 2012CPI 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.
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Clearing the Air: Carbon Pricing and Local Air Pollution in California
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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Supporting Renewables While Saving Taxpayers Money
Uday Varadarajan, Brendan Pierpont, Andrew Hobbs and Kath RowleySeptember 16, 2012Renewable 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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San Giorgio Group Case Study: Ouarzazate I CSP
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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Public Climate Finance: A Survey of Systems to Monitor and Evaluate Climate Finance Effectiveness
Barbara Buchner, Angela Falconer, Chiara Trabacchi and Jane WilkinsonJuly 18, 2012This 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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Limiting the Cost of Renewables - Lessons for California
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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San Giorgio Group Case Study: Prosol
Chiara Trabacchi, Valerio Micale and Gianleo FrisariJune 1, 2012Program 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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San Giorgio Group Case Study: Walney Offshore Windfarms
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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Energy, the U.S. Budget, and Climate Change
Uday Varadarajan and Julia ZuckermanMarch 28, 2012This 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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Deforestation Slowdown in the Brazilian Amazon: Prices or Policies?
Juliano J. Assunção, Clarissa Gandour and Rudi RochaMarch 21, 2012Brazilian 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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European Electricity Infrastructure: Planning, Regulation, and Financing
Karsten Neuhoff, Rodney Boyd and Jean-Michel GlachantJanuary 24, 2012 -
The San Giorgio Group Inaugural Meeting: Proposed Analytical Program
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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Improving the Effectiveness of Climate Finance
Jessica Brown, Barbara Buchner, Gernot Wagner, Katherine Sierra, Miriam Chaum, Chris Faris, Angela Falconer and Chiara TrabacchiNovember 23, 2011A joint study by Environmental Defense Fund, Climate Policy Initiative, Brookings Institution, and Overseas Development Institute.
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Annual Review of Low-Carbon Development in China (2011-2012)
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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The Landscape of Climate Finance
October 1, 2011In 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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The Impacts of Policy on the Financing of Renewable Projects: A Case Study Analysis
Uday Varadarajan, David Nelson, Brendan Pierpont and Morgan Hervé-MignucciOctober 1, 2011CPI 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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Codes to Cleaner Buildings: Effectiveness of U.S. Building Energy Codes
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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The German Energy Concept: Policies to Support the Thermal Retrofit of Buildings
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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Smart Power Market Project
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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Energiekonzept: Instrumente für energetische Sanierungen
Karsten Neuhoff, Hermann Amecke, Aleksandra Novikova and Kateryna StelmakhAugust 1, 2011Die 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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Renewable Energy Financing and Climate Policy Effectiveness
Brendan Pierpont, Uday Varadarajan, David Nelson and Anne SchoppJuly 1, 2011CPI’s Renewable Energy Finance project assesses the impact of policy on the availability and mix of investment in renewable energy.
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Impact of Reductions and Exemptions in Energy Taxes and Levies
Anja Rosenberg, Anne Schopp, Karsten Neuhoff and Alexander VasaJune 1, 2011In 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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An Assessment of the Impact of Policy on the Financing of Clean Energy: Project Overview
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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The Role of Government Policy in the Development of Solar Photovoltaic Power: Project Overview
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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PV Industry and Policy in Germany and China
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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Review of Low-Carbon Development in China 2010
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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Carbon Pricing Project
February 1, 2011To 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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The State of International Climate Finance: Is it Adequate and Is It Productive?
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.
