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Asia to spend $40 billion on low carbon initiative
Osaka News.Net
Friday 19th March, 2010
One of the first international meetings to focus on climate finance since the Copenhagen summit last December ended Friday with plans in
place to mobilize some $40 billion for country-led low carbon growth.
The week-long meetings of the Climate Investment Funds (CIF), held at the Asian Development Bank (ADB) headquarters in Manila, also made progress on support for developing country action on forests, renewable energies and building climate-resilient development.
The CIF Clean Technology Fund (CTF) endorsed investment plans for Colombia, Indonesia, Kazakhstan and Ukraine. There are now 13 plans in place around the world and some $4.3 billion of CTF co-financing allocated to projects ranging from solar power development to the greening of public transport systems. It is estimated that an additional $36 billion will be leveraged in the coming years from other sources, including the private sector, bringing the total to be mobilized to $40 billion.
ADB President Haruhiko Kuroda announced Thursday that the CIF has allocated more than a billion dollars for the Asia and Pacific region since their inception one year ago. "We are encouraged that our developing member countries are taking a strong lead in turning their economies onto low-carbon, climate resilient pathways and are engaging the Climate Investment Funds to act more quickly and more ambitiously in response to the global climate challenge," he said at the opening of the forum.
Committees approved grants for Zambia and Nepal to better respond to the challenge of adaptation, and selected the first pilot countries under the Forest Investment Program (FIP): Burkina Faso, Ghana, Indonesia, Laos and Peru.
The FIP, designed to provide investments that help countries better manage their forests,also approved a consultation process for designing a special grant mechanism for indigenous peoples and local communities.
World Bank Vice President for Sustainable Development Katherine Sierra said that the CIF was moving from a planning, programming phase to one of implementation.
"We still have a lot to do, but the Climate Investment Funds are moving into high gear," Ms. Sierra said. “The ultimate solution for climate finance will be under the United Nations Framework Convention on Climate Change, but the CIF can provide important lessons in terms of
governance, leveraging and scalability."  Email this story to a friend
Comments on this story
Anonymous
03-20-10, 06:17 AM |
Climate Investment Funds to allocate $40 billion for climate change in Asia
My goodness,you are making former vice president Al Gore richer than ever.Low carbon equiptment is produce by his company.It will add another excutive airplane for his use.More billions of dollars in his pocket.
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Anonymous
03-20-10, 06:23 AM |
DO YOU KNOW THIS 40 BILLION USD ON LOW CARBON INITIATIVES IS NOTHING MORE THAN A *SCAM*????
THE ADB (TOO WELL KNOWN ALREADY) IS NOTHING MORE THAN THE ASIAN FRONT OF THE WB-IMF MASONIC BANKING MACHINE. WE REGARD THE ADB AS THE WB-IMF WITH AN ASIAN UNDERWEAR.
THE SCAM UNDER THE DISGUISE OF LOW CARBON INITIATIVE IS TO FLOOD THE WORLD FINANCIAL SYSTEM WITH MORE AND MORE SOON-TO-CRASH PAPER USD MONEY TO GREASE (KEEP) THE WB-IMF CORRUPTION MACHINE RUNNING IN ORDER TO PUMP MORE LIFE SUPPORTING OXYGEN INTO THE DYING WESTERN BANKING SYSTEM. MORE WORTHLESS USD PAPER MONEY WILL BE GOING INTO BUYING TANGIBLE ASSETS WORLDWIDE. MORE WORTHLESS USD PAPER MONEY WILL BE GOING INTO IMPLEMENTING *SUSTAINABLE DEVELOPMENT* (DESTROYING FARMS, FARMERS, FOOD SUPPLY FOR THE MASS POPULATION THRU GMO SEEDS AND GMO FOOD), *HEALTH CARE* (VACCINATING WITH MORE DEADLY VIRUSES AND/OR VACCINATING INTO THE BLOODSTREAM WITH NANO PARTICLES KILLING OFF THE POPULATION BY TURNING ON THE VLF WAVES), AND *GREEN ENERGY* (IMPLEMENTING THE CULTIVATION OF CROPS FOR BURNING THEM FOR ENERGY (USING CUTE NAMES LIKE BIOMASS ENGINEERING) INSTEAD OF FOR FEEDING THE POPULATION AND THE CULTIVATION OF CROPS FOR CONVERTING TO BIO-FUEL TO DRIVE THE CLUNKERS INSTEAD OF PRODUCING FOOD FOR THE POPULATION).
RUSSIA HAS PLENTY OF ENERGY. BUY ENERGY FROM HER!
THERE IS NO NEED FOR BIO-MASS AND BIO-FUEL! OH, YES, MORE MAINSTREAM MEDIA WHORES WILL COME TO TELL YOU SUCKERS THAT THEY ARE GREENER (USING THE SCIENTISTS-BECOMING-WHORES).
(The week-long meetings of the Climate Investment Funds (CIF), held at the Asian Development Bank (ADB) headquarters in Manila, also made progress on support for developing country action on forests, renewable energies and building climate-resilient development.)
The MEDIA WHORES keep on morphing words into more and more different and confusing words for the same ideas! Observe the newest morphs from the ADB through the media whores: FORESTS, RENEWABLE ENERGIES, CLIMATE-RESILIENT DEVELOPMENT.
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