Norway has pledged $100 million to a $400 million fund to protect five million hectares of forest and peatlands by 2020. The new fund, to be managed by the Dutch manager IDH, will invest in forest-rich countries to boost the productivity of farmers while protecting forests and reducing greenhouse gas emissions. Unilever is the first corporate
Climate Finance The world’s biggest carbon-emitter raised $36.2 billion for bonds to meet its ambitious carbon reduction targets. That pushed the global value of green bonds issued last year to a record $93 billion, up 120 percent from 2015. Moody’s Investor Services said green bond issues could more than double again in 2017, to $206
And the size of the remaining intact forests globally has fallen by 7 percent since 2000, mostly due to the encroachment of agriculture and timber operations. Large swathes called “intact forest landscapes” contribute more to conservation by capturing carbon and supporting ecosystem diversity than smaller forest segments. Brazil recently pledged to restore 22 million hectares
Climate Finance Norway’s largest pension fund and its state-owned investment fund took a $5 million equity stake in d.light, one of the largest of the new crop of off-grid solar providers targeting the more than one billion people, mostly in Africa and Asia, who lack access to reliable electricity. The investment is the latest in
Climate Finance The Chinese-Canadian firm Canadian Solar has secured $210 million in loans to build a PV production plant in eastern Thailand. Most of the facility’s product will be exported to North America, where the U.S imposes tariffs on PV cells produced in China, including by Canadian Solar. Canadian Solar’s Thai facility would circumvent these.
Climate Finance The United Arab Emirates, one of the world’s leading oil producers, is aiming to generate close to 50 percent of its energy from renewables by 2050. The fossil-fuels dependent country has the eighth highest per capita CO2 emissions in the world. Dubai and Abu Dhabi, the two biggest emirates, have been ramping up