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Results-Based Climate Finance in Practice : Delivering Climate Finance for Low-Carbon Development

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Results-Based Climate Finance in Practice : Delivering Climate Finance for Low-Carbon Development

The Paris Agreement has defined a global action plan to put the world on track to avoid dangerous climate change by limiting global warming to well below 2°C above preindustrial levels. Results-Based Financing (RBF) demonstrates strong potential to deliver on the prerequisites for low-carbon development. Results-Based Climate Financing (RBCF) can be understood as RBF provided specifically for climate mitigation or adaptation results. This report reviews 74 results-based climate financing (RBCF) programs implemented in developing countries with an objective to: assess the characteristics and overall volume of funding flowing through RBCF programs, describe the various approaches to designing and implementing RBCF programs, and compare practical experiences with applying RBCF with the existing theory and literature. The report finds that RBCF can: facilitate carbon pricing and market building, support host countries' policy processes to achieve their NDCs, and leverage private sector activity and financing. RBCF can thus play a critical role in mobilizing the resources and supporting the policies and actions needed to achieve the objectives of the Paris Agreement.

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Citation: "World Bank Group; Frankfurt School of Finance and Management. 2017. Results-Based Climate Finance in Practice : Delivering Climate Finance for Low-Carbon Development. World Bank, Washington, DC. © World Bank"

Details

Author: 
Felicity Spors, Klaus Oppermann, Caroline Ott, Charis Lypiridis, and Pablo Benitez (World Bank); Christine Gruening, Menglu Zhuang, Ulf Moslener, and Silvia Kreibiehl (Frankfurt School)
Release date: 
May, 2017
Number of pages: 
101
Type: 
Reports