Trade & Investment

GEF Council Re-elects Monique Barbut as CEO, Approves Climate-Related Projects

Monique Barbut, GEF CEO & Chairperson 14 November 2008: The Global Environment Facility (GEF)

Council re-elected Monique Barbut as CEO during its biannual meeting, which

took place from 11-13 November 2008, in Washington DC, US. The Council also

renewed efforts to scale up technology transfer to developing countries looking

to mitigate and adapt to climate change challenges, by approving projects

amounting to US$50 million for climate-related activities.

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World Bank Moves Ahead with Energy for the Poor Initiative, Schedules Meeting in Paris

Jamal Saghir, Director, Energy, Transport and Water, in the Sustainable Vice Presidency (SDNVP) of the World Bank 13 November 2008: The World Bank is moving ahead with the

Energy for the Poor initiative, a programme that seeks to provide rapid support

for countries’ efforts to strengthen social safety nets to reduce the poor’s

vulnerability to volatile fuel prices.

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World Bank Creates Green Bond to Finance Mitigation and Adaptation

6 November 2008: The World Bank, in partnership with SEB and

Scandinavian institutional investors, will raise funds for projects seeking to

mitigate climate change or promote adaptation to its effects, through the issue

of a “World Bank green bond.”

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EC Announces Communication on Deforestation and Climate Change

7 November 2008: At the 44th session of the International

Tropical Timber Council and the Associated Sessions of the four Committees

(Finance and Administration, Economic Information and Market Intelligence,

Forest Industry, and Reforestation and Forest Management), the European

Commission (EC) announced a communication on deforestation and climate change,

with the goal of informing the EU position at the upcoming climate change

negotiations in Poznan, Poland.

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Documents Posted for 34th GEF Council and Climate Funds Meetings

6 November 2008: Documents for the 34th Global Environment Facility (GEF) Council meeting,

which will convene from 11-13 November 2008, in Washington DC, US, are

available online.

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ECLAC Highlights Climate Change’s Potential Negative Impact on Intraregional Trade

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ECLAC Convenes Climate Change Seminar

Concern Grows Over Impact of Climate Change on Economies in the Region 17 October 2008: The Economic Commission for Latin America

and the Caribbean (ECLAC) convened a seminar on "Climate change in Latin

America: Impact, Possibilities for Mitigation and Financing," from 15-16

October 2008, in Santiago, Chile. During the meeting, participants discussed

the possible imposition of trade barriers on products from the region due to

carbon emissions in their production and transportation and stressed the

urgency to mitigate the effects of climate change.

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OECD Cities and Climate Change Conference Evaluates Role of Cities in Responding to Climate Change

Mayors, Ministers call for Joint Action on Climate Change at OECD Conference 10 October 2008: The international Conference on

“Competitive Cities and Climate Change,” organized by the Organization for

Economic Cooperation and Development (OECD), took place from 9-10 October 2008,

in Milan, Italy. The event provided the opportunity for mayors from some of the

world’s most important and influential cities to both address common challenges

and share best practices on climate solutions.

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World Bank Group President Addresses Climate Change Challenges at IMF and World Bank Annual Meetings

Robert Zoellick, President of the World Bank Group 13 October 2008: The annual meetings of the Boards of

Governors of the International Monetary Fund (IMF) and World Bank took place on

13 October 2008, in Washington DC, US. Finance ministers from developing and

industrialized nations attended the event, which was preceded by a meeting of

the International Monetary and Financial Committee and the Development

Committee. Robert Zoellick, President of the World Bank Group, addressed the

meeting, noting the effects of the current financial crisis on energy and climate

change.

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IMF and World Bank Annual Meetings Address World Economic Crisis, Support Efforts to Tackle Climate Change

69imfc_am_08_large 13 October 2008: The annual meetings of the Boards of

Governors of the International Monetary Fund (IMF) and World Bank took place on

11-13 October 2008, in Washington DC, US. Finance ministers from developing and

industrialized nations attended the event, which was preceded by a meeting of

the International Monetary and Financial Committee (IMFC) and the Development

Committee. The IMFC and seminars during the week addressed the responses to the

current economic crisis, as well as the challenges posed by higher food and

fuel prices.

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