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Future Areas of Research in Climate Finance

Future Areas of Research in Climate Finance. Tirthankar Mandal CANSA, 20 th August, 2013 New Delhi. Climate Finance: Definitional Challenge. How do we define climate finance Aligned with development finance with appropriate reporting capture the interplay of both

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Future Areas of Research in Climate Finance

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  1. Future Areas of Research in Climate Finance Tirthankar Mandal CANSA, 20th August, 2013 New Delhi

  2. Climate Finance: Definitional Challenge • How do we define climate finance • Aligned with development finance with appropriate reporting • capture the interplay of both • Challenges to overcome the methodological issues: • 1) avoidance costs; 2) actual costs; and 3) opportunity costs • Choosing base lines, projecting impacts • How to monetise non economic losses • Valuation of negative externalities

  3. Current Framework: Areas to focus

  4. Addressing Means of Implementation • Match the scale and need– plethora of options in the form of funds– does it match needs • Increasing the efficacy of generation– currently re-modelled existing sources, new sources, and additional existing sources • Develop generic bundling– funds for different actions • Creating enabling environment— effective policies and tools

  5. Governance of Funds • Global level– ensure effective mechanism, ensure minimum administrative cost • Reforms within national governments– ensure climate actions identified & funded • Possibility of tracking climate actions– develop mechanism for information in public domain • Need for research on frameworks– new and additional, predictability, transparency, direct access

  6. Regional Finance Mechanism • Enhanced direct access—how to make this happen in the region • Capitalisation of funds • Existing funds– ensure climate finance earmarking • How to make effective– sectoral vs structural approach • Leveraging private sector finance • Funds to meet capacity and technological challenges

  7. Private Sector: Issues to be addressed • Mechanism to cover– non-economic loss, physical impacts • Leveraging role– Public money seeding, co-benefits to directly address development challenges • Capital Market Initiatives • Identifying the opportunity areas for investments • Role of multilateral agencies– like IFIs, bilateral agencies, MDBs for mobilisation of finance • Role of new MBMs: avoid low hanging fruits

  8. Summing up… • Institutional Issues: governance structure, interlinkages, MRV mechanism for financing climate actions • Public Sector funds: new and additional, transparent, predictable, easiness of access, integrating climate change priorities • Private sector: identifying opportunities, how to attract non-economic and non-monetised sectors investments

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