Bending the GHG Emission Curve and Achieving Wide-scale Cleaner Production Benefits by 2025
former Director of World Bank Environment Department
The international community is focused on reversing current trends of increasing GHG emissions. Latest estimates indicate that, if the country commitments being made leading up to the Paris COP are met, it would bring global warming by the end of the century down to 2.7°C (as compared to about 3.6°C with previous commitments). The mobilization of conventional donor funding and new, innovative funding mechanisms is a critical element of reaching this goal- developing countries have made it clear that their national commitments are at least in part dependent on financial support. But the international community is not yet well focused on funding the newly approved Sustainable Development Goals (SDGs), including mobilizing support for cleaner production or sustainable consumption. In fact, industrial cleaner production dropped off the radar screen for most large-scale bilateral and multilateral development finance institutions by the mid-2000s. But developing countries, many facing the challenges of rapid urban/industrial growth, are in the driver’s seat – with some targeted policy reforms and financial innovation, by 2025 they can meet their commitments to a significant reduction in GHG emissions and at the same time leverage the new climate finance to mobilize at least $100 billion/year for low carbon, cleaner industrial production. The starting point is policy integration at the country-level whereby recipients of climate finance commit to broader cleaner production objectives. A company or community which receives subsidized climate finance would commit to concurrently achieving the broader objectives of cleaner production whereby water conservation, waste minimization, toxic material use and waste reduction would be an integral element of reducing greenhouse gas emissions. This presentation will propose how such policy integration can generate a number of financing mechanisms that could be applied which would result in a dramatic increase in the availability of funding for CP.
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