Global S&T Development Trend Analysis Platform of Resources and Environment
Implementing Alignment: Recommendations for the International Development Finance Club | |
Alex Clark; June Choi; Bella Tonkonogy; Valerio Micale and Cooper Wetherbee | |
2019-10 | |
出版年 | 2019 |
语种 | 英语 |
国家 | 美国 |
领域 | 气候变化 |
英文摘要 | Mandated by the International Development Finance Club (IDFC) and the European Climate Foundation, Climate Policy Initiative (CPI) and the Institute for Climate Economics (I4CE) conducted a research project in two parts:
Part 1: Alignment with the Paris Agreement: Why, What and How for Financial Institutions? The Paris Agreement has reframed climate action from a focus on the near-term incremental increase of adaptation and mitigation actions, to more emphasis on the importance of the long-term transformation of economies and societies. The Agreement highlights the importance of bottom-up, country-led approaches to low greenhouse gas (GHG) and climate-resilient development, or ‘national pathways’ to simultaneously achieve both climate and sustainable development objectives. This reframing implies that that all actions of governments and non-state actors should be consistent with economic and social development, and, in turn, consistent with the long-term goals of the Paris Agreement. Financial institutions and other economic actors – whether seeking sustainable development impacts or those with a commercial focus – have an interest to align their activities with the long-term goals of the Paris Agreement. This report proposes a framework that can be used by financial institutions seeking to align their strategies and operations with the Paris Agreement. The framework specifies three dimensions for action: A comprehensive scope of action; a long-term time horizon to guide impact; and an ambitious scale of contribution. Whether institutions are principally focused on sustainable development impacts or commercially-oriented, a commitment to ‘Paris alignment’ is a commitment to adopt the Agreement’s high level of ambition. However, the scale of contribution of financial institutions will vary as institutions may be involved in different types of business lines that have impact-oriented objectives or more commercial objectives. Nevertheless, for all financial institutions to be aligned requires that they scale-down and halt activities inconsistent with these goals and contribute, whenever possible, to the national attainment of low-GHG, climate-resilient development. In practice, this requires financial institutions to integrate Paris alignment considerations in strategic governance and in operational frameworks for decision making and investment. Ensuring that all of an institution’s activities are consistent with the long-term goals is important. However, it is also important for institutions to determine and act on how they can best leverage their potential to support low-GHG, climate-resilient transformations in their countries and sectors of operations. To view the Part 1 report on I4CE’s website, click here. Part 2: Implementing Alignment: Recommendations for the International Development Finance Club Members of the IDFC, 24 national, bilateral, and regional development finance institutions with more than USD 4 trillion in assets under management, can play a critical role in supporting the economic transformation of their countries of operation towards Paris alignment. IDFC members’ close relationships with national and sub-national governments allow members to provide direct input and feedback on policy design and influence project pipelines (Crishna Morgado et al. 2019). Also, their diversity of clients in the public and private sectors allows them extraordinary reach across investment value chains. All IDFC members will need to make changes to the way they do business to support the long-term transformational change required by the Paris Agreement. This report proposes that alignment implementation can be facilitated by focusing on the following areas:
While IDFC members share a common goal, the differences between them in terms of internal capacity, mandate, national circumstances, and resources imply a range of possible short-term paths. However, these must converge with urgency towards activities reflecting the full scope, scale, and time horizon of the Paris Agreement objectives. The transition to alignment for the IDFC, individually and collectively, will not be easy, and it will take time – and therefore it should start now. With the roadmap to alignment presented here as a guide, members can scale up and build upon successful examples of existing practices with the sustained, focused effort required across all activities for the Paris Agreement’s goals to be met. While meeting this challenge will require unwavering commitment and engagement from members themselves, partnerships with others outside the IDFC will be vital. Collaboration with other financial institutions, both public and private, will be needed to streamline methodologies, metrics, and programming; reduce duplication; and accelerate the development of appropriate policy and financial instruments. Most crucially, IDFC members will need support – both political and financial – from the international community and shareholder governments to reach their potential to drive investment towards a Paris-aligned future. |
英文关键词 | climate change climate finance climate finance definitions climate funds climate investment climate policy climate resilience development finance institutions financial institutions financial modelling fiscal policy Paris Agreement |
URL | 查看原文 |
来源平台 | Climate Policy Initiative |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/242579 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | Alex Clark,June Choi,Bella Tonkonogy,et al. Implementing Alignment: Recommendations for the International Development Finance Club,2019. |
条目包含的文件 | 条目无相关文件。 |
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