Question Answer Validation timestamp
ex What are the elements recommended to reform in the MDB system in relation to climate and development, to reach the targets of the Paris Agreement and the Glasgow Pact? 1) The MDB should work with countries and sectors, as MDB system, to define, identify, enable and foster the programmes and investments necessary for the implementation of the Paris Agreement.

2) More collaboration from the private sector: to create the conditions for investment and innovation, reduce risk, share knowledge, and mobilise investment.

3) The scaling up of MDB with the public sector to enable larger public investments. For example, electricity grids, public transport, adaptation, natural capital or transition costs.

4) MDB and stakeholders must recognise that the areas the climate tasks require to multiply the finance flows to 2 to 3 in the next five years.

5) This scaling up of financial flows from the MDBs can be built in part on utilising the capital already available more effectively.

6) Shareholders must recognise that capital increases for the MDBs over the coming five years will be required to achieve the necessary two-to-threefold increase in flows.

7) Beyond the MDBs, there is great potential to harness the entire public development bank system. [1]

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2 What's the most critical component of the $100 billion climate finance commitment? Concessional finance from bilateral donors. [2]
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3 What's the evidence that developed countries committed to increase their climate finance in 2021? Developed countries committed to increasing their climate finance at the G7 Carbis Bay Summit and again at COP26 in Glasgow.
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4 What's a consequence of the lower official concessional finance relative to the priority needs that require concessional finance? The growing gap in the financing needed to respond to loss and damage in adaptation and resilience, nature and biodiversity and support for poor and vulnerable countries.
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5 Which are the seven goals to scale up and enhance the contribution of concessional finance to address climate transition needs? 1) Donors must double bilateral climate finance to $60 billion by 2025 from its 2020 level.

2) Donors must rapidly scale up their commitment to adaptation finance. A doubling of adaptation finance must be the immediate target but much larger sums will be needed. 3) Donors can improve the effectiveness of limited concessional finance by aligning strongly behind country priorities and programmes. 4) Donors must enhance their support to the multilateral concessional climate-related funds, such as the Green Climate Fund (GCF), Global Environment Facility (GEF), Climate Investment Funds (CIF), Global Infrastructure Facility (GIF) and Adaptation Fund. 5) There is an urgent need to improve the architecture to respond to loss and damage. For example, the strengthening of insurance activity does not work with the uninsurable impacts of climate change. 6) Donors and other climate finance providers must tackle the impediments to access faced by many developing countries. 7) There is a need to enhance the transparency and predictability of climate finance, including from bilateral providers.

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6 What is the Bridgetown initiative? The Bridgetown Initiative is five specific proposals that would make a meaningful difference to climate finance and development and could be achieved in 24 months. It were developed in informal discussions initially hosted by Prime Minister Mottley in Bridgetown, Barbados. These five proposals would result in a fundamental redrawing of the global financial architecture.

Proposals: Drawing in $5 trillion of private savings for climate mitigation, Widening access to concessional finance for the climate-vulnerable, Expanding MDB lending for climate and the SDGs by $1 trillion, Funding loss and damage, and Making the financial system more shock-absorbent.

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7 To which countries should be directed the concessional finance for climate mitigation and adaptation? concessional finance should be primarily directed to poor countries, there is a need for adequate support for just transitions in middle-income countries associated with accelerated exiting from fossil fuels such as coal
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8 What is a con of insurance for the impacts of climate change? Not all impacts of Climate Change are insurable. African Ministers have stressed, there needs to be an explicit financing mechanism to deal with the uninsurable impacts of climate change.
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9 Why SDR's are an alternative for climate change finance to support EMDCs needs? SDRs are a reserve asset, not immediately available to finance public expenditure. A majority of the SDRs go to high-income countries, these SDRs can be reallocated to support priority needs in EMDCs, including climate action. At the Carbis Bay Summit in June 2021, the G7 asked finance ministers and central bank governors to develop and review proposals for a voluntary $100 billion reallocation of SDRs from countries with excess reserves. SDRs could also be used to leverage the new Liquidity and Sustainability Facility, which aims to bring down the cost of private finance for African sovereigns.
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10 What's the Resilience and Sustainability Trust (RST) The RST is a trust enabled by the IMF to support long-term action on the transition. This trust has 3 objectives:

1) Provide capacity for countries to respond to climate shocks without significant increases in debt burdens. 2) Catalyse low-cost financing and capacity-building for poorer, climate-vulnerable countries to build climate resilience and adaptation strategies. 3) Enhance the ability of EMDCs to mobilise longer-term financing for just transitions to low-carbon growth paths.

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11 Which changes need to be made to tap the full potential that SDRs hold to boost climate finance? The SDR system should return to its original design. General allocations should be made during all five-year basic periods, and the IMF should clarify the ‘Unexpected Major Developments’ provision of the Articles of Agreement such that special allocations are made automatically upon the breach of certain macro-critical 63 thresholds.

Reform the rechannelling infrastructure to make it less rigid and costly: Modernising reserve asset characteristic criteria, reform the SDR interest rate system, establishing an SDR intermediation function, which would allow the IMF to operate more naturally and efficiently as the ‘SDR Bank’ ,and promoting transparency in the SDR market

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12 How many Emissions Trading Systems are currently working (2022)? 32 emissions trading systems (ETSs) established by governments operating worldwide and an additional few scheduled for implementation.
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13 How much was the revenue of ETS in 2021? Total revenue through ETSs reached $56 billion in 2021.
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14 How can the revenues of ETS collaborate for the climate transition? Revenues can support broader fiscal interventions or reforms that boost sustainable investment, domestically and internationally.
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15 Why ETS prices still remaining low? Despite many ETS prices hitting record highs in 2021, most are still not in line with levels recommended by the High-Level Commission on Carbon Pricing.
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16 What is the potential of carbon markets? Carbon markets have the potential to mobilise financial resources for sustainable, low-carbon, resilient growth. Integrity is essential: financed activities must drive genuine emissions savings aligned with the Paris temperature goals, requiring rising prices that reflect the social cost of carbon, and, in the case of voluntary action, purchasing and retiring carbon credits must not displace efforts to meet targets within organisations’ own value chains. However, carbon market flows are not a replacement for strong international climate finance commitments, although they could play an important supporting role.
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17 What is the voluntary carbon market? Is a market driven by non-state actors, who buy carbon credits to compensate for residual emissions and meet net zero and other voluntary climate commitments. These markets have developed their own standards for credit issuance and allow project developers to monetise activities that reduce or remove emissions. The voluntary market is currently much smaller than total compliance market coverage but it could grow substantially.
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18 How much has voluntary carbon markets grown? In 2021, the market size by volume increased by 143% year-on-year to 493 MtCO2e. Concurrently, the price of credits rose from $2.52/tCO2e to $4.00/tCO2e, bringing the total market value in 2021 to nearly $2 billion.
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19 In which key sectors can voluntary carbon markets provide urgent finance? - Nature-based solutions: Forestry and agricultural practices.

- Energy systems. - Engineered removals.

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20 Which are the requirements to establish a strong governance system for both the supply and demand of credits? - Core Carbon Principles as a minimum benchmark for quality.

- Non-state actors’ use of carbon finance in their overall climate strategies requires scrutiny. Carbon credits must not displace companies’ investment in reducing their own emissions. Buyers of credits need to engage and support the Science-Based Targets Initiative and Voluntary Carbon Markets Integrity Initiative (VCMI) to shape common understanding and standards. - Information infrastructure to help transparency. - A broad multi-stakeholder network led by existing governance initiatives

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21 What's the evidence that for some countries of the Congo basin, the revenue generated by carbon credits can represent a significant proportion of GDP? The estimates show that carbon credits can generate in Africa about $1 billion when priced at $10/tCO2e and about $82 billion at $120/tCO2e. These resources can be reinvested in several development priorities. At $50/tCO2e, the revenue from carbon credits can represent 3.09%, 6.37% and 4.23% of GDP and at $120/tCO2e, the revenue from carbon credits can represent 12.99%, 36.7% and 24.29% of GDP, for Gabon, Republic of Congo and Democratic Republic of Congo respectively.
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22 How much reached the private philantropy flows in 2018? Cross-border private philanthropy from all sources was about $70 billion, $48 billion of which came from the United States.
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23 What is the is the Global Energy Alliance for People and Planet (GEAPP)? It is a partnership launched at COP26, which brings together philanthropic institutions, development finance institutions and country partners to accelerate investment in green energy transitions and renewable power solutions in developing and emerging economies worldwide. Over the next decade, the Alliance aims to unlock $100 billion in public and private capital to enhance energy access; tackle climate change; and create jobs. The Alliance aims to provide more than $10 billion to focus on fossil fuel transitioning, grid-based renewables, and distributed renewables.
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