Miscellaneous Knowledge Notes

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Hydropower and Dams (H&D): Strengthening Climate-Informed Project Design

(Washington, DC, 2022-10) World Bank

This learning note is the second of a 4-note-series developed by the Water Global Practice (GP) Climate Change Team to highlight successful examples of water operations that support climate change–related activities and provide useful lessons and recommendations for project design.
Forewarned, but not Forearmed?: Lessons for the Recent Floods in Pakistan from 2010

(World Bank, Washington, DC, 2022-09) Ghorpade, Yashodhan

As climate change results in recurrent and more frequent natural disasters, each calamity proves instructional for the future. The author summarizes the lessons learned from the social protection and wider disaster response in the 2010 floods in Pakistan and discuss how they can benefit ongoing efforts to recover from the floods in the country in 2022, and other settings.
Defining Results-Based Climate Finance, Voluntary Carbon Markets and Compliance Carbon Markets

(Washington, DC, 2022) World Bank

Under the Kyoto Protocol, compliance carbon markets (CCM) were primarily in the form of the Clean Development Mechanism (CDM) and Joint Implementation (JI). In 2015, the Paris Agreement introduced a new bottom-up approach to address climate change. Under the Paris Agreement, Parties set non-binding climate targets through their nationally determined contributions (NDCs). Article 6 of the Paris Agreement recognizes cooperation among countries for achieving their NDCs and raising climate ambition. This provides the basis for international CCM, where countries can trade emission reduction (“carbon”) credits with each other. Article 9 of the Paris Agreement stipulates that developed countries shall provide resources to developing countries for climate mitigation and adaptation. Developed countries would also take the lead in mobilizing climate finance from a variety of sources that represents a progression beyond previous efforts. The objective of this information paper is to outline three avenues for monetizing climate results – results-based climate finance (RBCF), voluntary carbon markets (VCM), and CCM. The paper is intended to describe activities by non-state or private sector actors in these mechanisms, and how their participation can facilitate the achievement of climate benefits in a cost-effective manner.