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Climate change affects the world’s poorest first and worst. Yet it is a problem the whole world shares that can only be addressed through international cooperation. CGD’s work on climate finance looks at economic incentives that benefit us all—by helping developing countries work together with other governments, institutions, and corporations to reduce emissions.
The international forest and climate communities have placed high hopes on the potential for compliance carbon markets to generate funding to reduce tropical deforestation through international forest offsets. At a meeting last week in San Francisco on “Navigating the American Carbon World” (NACW) it seemed as if these hopes are likely to be dashed. Or at least not realized in time to save the vast tropical forests in time for them to play a significant role in combatting dangerous climate change.
The Green Climate Fund (GCF) could begin offering results-based payments for protecting and restoring tropical forests as early as July. That’s good news for developing countries, where tropical deforestation can be nearly half of low-cost emission reductions. Yet funding to protect forests remains low and slow, as Frances Seymour and I explain in our book, Why Forests? Why Now? As the GCF moves to enable results-based payments for forests, earlier initiatives offer valuable lessons on two things the GCF should—and can—get right: 1) keep rules simple, and 2) recognize that institutional procedures built for upfront investments may not always be appropriate for results-based payments.
This annual report marks two milestones in 2016: CGD’s 15th anniversary and, at the end of the year, its first leadership transition, with founding president Nancy Birdsall being succeeded by Masood Ahmed. In this first era, the Center has established itself as an influential voice in international development policy, with a unique model of nonpartisan policy innovation.
Just ahead of the annual World Bank/IMF spring meetings, the Bank’s new CEO, Kristalina Georgieva, spoke with me about a new way of thinking at the 72-year-old institution. The Bank has renewed ambition, she told me, to be a catalyst for massive transformative investment in development. She went on to lay out how the Bank plans to do that in this edition of the CGD Podcast.