The World Bank (International Bank for Reconstruction and Development, IBRD) launched the Green Bond Impact Report in June 2015, with detailed information about the environment and social results expected from projects supported by its green bonds. The World Bank is an international financial institution that provides loans to developing countries for capital programs.
The report provides an update on the progress of the 100 green bonds (US$8.4 billion) that have been issued to support projects aiming for low carbon and climate-ready growth in IBRD’s member countries. The report presents an overview of the funds allocated across the 5 eligible sectors and geographic regions - Renewable energy, energy efficiency, transport, water and agriculture. There are some great tangible examples of work being completed to help emerging economies become more sustainable and preparing themselves for changes to the climate.
Some examples of climate change mitigation projects:
- China - Energy Efficiency Financing - promote energy conservation in China’s industrial sector supporting loans for energy efficiency projects in medium and large-sized manufacturing companies. Avoiding 6,490,000 tonnes of GHG per year.
- Turkey - Renewable Energy and Energy Efficiency Project - enhance renewable energy access (small hydroelectric and geothermal) and energy efficiency in industries (iron and steel, cement, ceramics, chemicals and textiles). Avoiding 3,507,000 tonnes of GHG per year.
Some examples of climate change adaptation projects:
- Tunisia - Second Water Sector Investment - promote better water management through efficiency improvements in irrigation and increased capacity for watershed management.
- Armenia - Second Community Agriculture Resource Management and Competitiveness Project - improve pasture-based livestock management in targeted alpine grasslands areas.