de Gouvello, ChristopheZelenko, IvanAmbrosi, Philippe2012-03-192012-04-042012-03-192012-04-042010-10-01978-0-8213-8521-0https://hdl.handle.net/10986/2515https://hdl.handle.net/10986/5914The reality of climate change associated with anthropogenic emissions is now widely acknowledged by the scientific community. Its potential devastating future harms are equally well perceived and as stated in the Copenhagen Accord major nations agree on the need to jointly and urgently combat climate change. The international community is also quite aware that stabilizing atmospheric concentrations of green-house gases (GHG) at supportable levels will require a drastic reduction in GHG emissions within a limited period of time. Undertaking such an enormous effort triggers several interlinked challenges: (1) technically mitigating GHG emissions to the required level; (2) implementing these solutions in countries where the required amount of emission reduction is most realistically and efficiently achievable in particular through involving and using in full the large potential of developing countries; and (3) mobilizing the large amount of financing needed to ensure that the corresponding projects and programs can be effectively implemented. Furthermore, these challenges must be simultaneously addressed in a way that is acceptable to all the parties involved. This means in particulars that any arrangement designed to meet the global GHG emission reduction challenge must be consistent with the principle of the common but differentiated responsibilities of developed and developing countries.CC BY 3.0 IGOABATEMENT COSTABATEMENT COSTSABATEMENT EFFORTABATEMENT POTENTIALABSOLUTE EMISSIONACCESS TO FINANCINGAIRALLOCATIONALLOWANCEALLOWANCESAMOUNT OF CAPITALANNUAL EMISSIONANNUAL EMISSION REDUCTIONSANTHROPOGENIC EMISSIONSATMOSPHEREATMOSPHERIC CARBONATMOSPHERIC CARBON DIOXIDEATMOSPHERIC CARBON DIOXIDE CONCENTRATIONATMOSPHERIC CONCENTRATIONSBALANCE SHEETBANKING SECTORBASELINE EMISSIONSBASIS POINTBASIS POINTSBONDSBORROWERCALCULATIONCAPITAL INVESTMENTSCAPITAL MARKETSCAPITAL STRUCTURECAPITALIZATIONCARBON CAPTURECARBON CREDITSCARBON DIOXIDECARBON ECONOMYCARBON ENERGYCARBON EXCHANGESCARBON FINANCECARBON MARKETCARBON MARKETSCARBON OFFSETSCARBON STORAGECARBON TAXCARBON TECHNOLOGIESCARBON TRADINGCERTIFICATION PROCESSCERTIFIED EMISSION REDUCTIONSCLEAN DEVELOPMENT MECHANISMCLEAN TECHNOLOGYCLIMATECLIMATE CHANGECLIMATE CHANGE POLICIESCLIMATE SENSITIVITYCLIMATE SYSTEMCOCO2COLORSCOMMERCIAL BANKCOMMERCIAL BANK LOANSCOMMERCIAL BANKSCOMPARATIVE ADVANTAGECONCENTRATION TARGETCOST EFFECTIVENESSCOST OF ABATEMENTCREDIT QUALITYCREDIT RISKCREDIT RISK PREMIUMCREDIT SPREADCREDITORDEFAULT RATEDEFAULT RATESDEFAULT RISKDEFAULTSDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPING COUNTRYDIVERSIFIED PORTFOLIODUE DILIGENCESECONOMIC BENEFITSECONOMIC COSTSECONOMIC DEVELOPMENTECONOMIC EFFICIENCYECONOMIC GROWTHEMISSION ABATEMENTEMISSION REDUCTIONEMISSION REDUCTION COMMITMENTSEMISSION REDUCTION POTENTIALEMISSION TARGETSEMISSION TRADINGEMISSIONSEMISSIONS FROM DEFORESTATIONEMISSIONS MITIGATIONEMISSIONS REDUCTIONEMISSIONS REDUCTIONSEMISSIONS SCENARIOSENERGY EFFICIENCYENERGY SAVINGSENVIRONMENTALENVIRONMENTAL IMPACTSENVIRONMENTAL INTEGRITYENVIRONMENTAL PERFORMANCEENVIRONMENTAL PROTECTIONEXTREME WEATHEREXTREME WEATHER EVENTSFIDUCIARY RESPONSIBILITYFINANCESFINANCIAL ANALYSISFINANCIAL BARRIERSFINANCIAL CRISISFINANCIAL DEVELOPMENTFINANCIAL FLOWSFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL RETURNSFINANCIAL STRUCTUREFINANCIAL TERMSFLOW OF INVESTMENTSFOREIGN DIRECT INVESTMENTFORESTRYFRAMEWORK CONVENTION ON CLIMATE CHANGEFUEL SWITCHINGGHGGHGSGLOBAL BANKINGGLOBAL CARBON MARKETGLOBAL EMISSIONSGLOBAL ENVIRONMENT FACILITYGLOBAL FINANCEGLOBAL GREENHOUSE GASGLOBAL WARMINGGREENHOUSEGREENHOUSE GASGREENHOUSE GAS ABATEMENTGREENHOUSE GAS ABATEMENT COSTGREENHOUSE GAS EMISSIONSGREENHOUSE GASESHFC23HFCSHUMAN RESOURCESINCOMEINNOVATIVE FINANCINGINSTRUMENTINTERNATIONAL BANKINTERNATIONAL CAPITALINTERNATIONAL CAPITAL MARKETSINTERNATIONAL DEVELOPMENTINTERNATIONAL FINANCIAL INSTITUTIONINTERNATIONAL OFFSETSINVESTMENT FINANCINGINVESTMENT FLOWSINVESTMENT PROJECTSIPCCISSUANCELAND USELAND USE CHANGELENDERSLENDING SPREADLIQUID MARKETLIQUIDITYLOANLOAN PORTFOLIOLOAN SIZELOW-CARBONMARGINAL ABATEMENTMARGINAL ABATEMENT COSTMARGINAL COSTMARGINAL COST OF ABATEMENTMARKET ANALYSTSMARKET LEVELSMARKET PRICEMATURITIESMATURITYNATURAL CAPITALNET COSTOUTSTANDING AMOUNTOUTSTANDING LOANSPFCSPLEDGESPORTFOLIOPORTFOLIO DIVERSIFICATIONPORTFOLIOSPRICE OF OFFSETSPRICE SIGNALPRIMARY MARKETPRIVATE BANKSPRIVATE INVESTORSPRIVATE SECTOR BANKSPROBABILITY DISTRIBUTIONRATE OF RETURNREDUCING EMISSIONSREGULATORY FRAMEWORKREPAYMENTRESERVESRETURNRISK MANAGEMENTSECONDARY MARKETSECURITIESSF6SHAREHOLDERSHAREHOLDERSSOLVENCYSOVEREIGN DEFAULTSOVEREIGN GUARANTEESTREAMSSUSTAINABLE DEVELOPMENTSUSTAINABLE GROWTHSWAPTEMPERATURETRADE REGIMETRANSACTION COSTSTREASURYTREASURY RATETREATYUNCERTAINTIESUNEPWorld Bank10.1596/978-0-8213-8521-0