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CGD Policy Blogs

 

A wind turbine farm in Tunisia

Rethinking the World Bank Model for More Climate Financing

The fact is $100 billion a year is woefully insufficient to cover the cost of climate change adaptation, let alone financing clean energy transitions across the developing world. The adaptation price tag alone could reach $300 billion a year by 2030. According to the IEA, the cost of financing clean energy transitions could exceed $1 trillion a year by the end of the decade. These are big numbers. But they are achievable.

An image of the seas off the coast of Belize.

Belize’s Big Blue Debt Deal: At Last, A Scalable Model?

Last Friday, the Government of Belize alongside the U.S. Development Finance Corporation (DFC) and the Nature Conservancy (TNC) announced the financial close of the largest blue bond for Ocean Conservation to date. The program enables Belize to convert its existing Eurobond (i.e. foreign currency bonds issued on the international market) into blue debt that it will use to implement its national marine conservation agenda.