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In Q1 2015, 44 green bonds totaling $7.2 billion were issued. The market showed signs of maturation through the use of 11 different currencies and credit ratings ranging from AAA to B-. India emerged as a key player with its first corporate green bonds from Yes Bank, while US municipal bonds grew in the water and green building sectors, though often lacking independent verification. Development banks remained leaders, accounting for approximately 46.2% of issuance. Renewable energy, green buildings, and water were the primary funding targets. Investors showed strong demand, evidenced by oversubscription and the formation of dedicated green bond funds and investor expectation statements to combat 'greenwashing'.

The program targets the global supply chains of palm oil, soy, and beef, which are identified as primary drivers of approximately 80% of worldwide deforestation. It employs a 'whole of supply chain' theory of change, arguing that deforestation can be eliminated if production is localized in the right areas (avoiding natural forests) and follows sustainable practices. The program is structured into four child projects: Support to Production, Generating Responsible Demand, Enable Transactions, and Adaptive Management and Learning. Key geographic focuses include the Amazon and Cerrado in Brazil, the Chaco in Paraguay, and palm oil production in Indonesia and Liberia. The program seeks to leverage a total cost of $443.2 million, including $40.3 million from the GEF Trust Fund, to shift the market from voluntary niche sustainability to a mainstream norm.

The document explains that green bonds are fixed-income instruments where proceeds are earmarked for projects with environmental benefits, such as renewable energy and energy efficiency. It details four main types of green bonds—'use of proceeds' bonds, revenue bonds, project bonds, and securitized bonds—and notes that the majority are 'use of proceeds' bonds backed by the issuer's entire balance sheet. The market grew significantly from $11bn in 2013 to $36.6bn by the end of 2014, with major issuers including the European Investment Bank and the World Bank. While the 'Green Bond Principles' provide best practice guidelines, the document highlights a lack of universal definitions for 'green' projects, a gap the Climate Bonds Initiative (CBI) is addressing with sector-specific standards. For investors, green bonds offer a way to meet ESG objectives without necessarily taking on additional project-specific risk, though the secondary market remains thin due to a 'buy-and-hold' investor base.

The report argues that China's transition to a low-carbon economy requires significant funding, estimated at RMB2 trillion annually, which can be partially met by growing a green bonds market. It recommends establishing a 'Green Bond Market Development Committee' to create China-specific green definitions based on the CBRC's Green Credit Reporting Instruction and a government-approved supervisory entity for third-party verification. Policy recommendations include providing corporate tax credits for interest on green bonds, establishing partial credit guarantees for green municipal and PPP project bonds, and expanding R-QFII and QFII quotas specifically for green investments. The report emphasizes that green bonds should be earmarked for specific projects rather than entity-level credentials to maximize market scale and transparency.

The research assesses the impact of carbon finance on cookstove projects in Kenya, finding that while it attracts international technology and improves standards, there are risks regarding user preferences.

The report analyzes South Africa's renewable energy landscape, divided into utility-scale, commercial/industrial, and residential segments. It highlights the success of the REIPPPP in procuring over 5,000 MW and reducing tariffs, while noting that the lack of an updated Integrated Resource Plan (IRP) creates investor uncertainty. The Western Cape is positioned as a potential green economy hub, leveraging initiatives like the Atlantis Special Economic Zone and the SARETEC training center.

The report assesses the feasibility of a greentech SEZ in Atlantis, concluding that demand is sufficient for a small-scale zone. It evaluates four development options, identifying 'high road refurbishment' as the most financially attractive. The document details the necessary legal governance, spatial planning, and infrastructure requirements, while highlighting critical disaster risks including fire, socio-cultural instability, and proximity to the Koeberg Nuclear Power Station.

The Global Innovation Lab for Climate Finance conducted a Phase 2 analysis of seven climate finance instruments based on four criteria: actionability, innovativeness, catalytic potential, and transformative impact. Following this assessment, four instruments—the Agricultural Supply Chain Adaptation Facility, Climate Development & Finance Facility, Energy Savings Insurance, and Long-term Currency Swap—were selected to move into Phase 3 for detailed financial modeling and implementation planning. The report details the goals and analytical findings for all seven instruments, including those focused on renewable energy, energy efficiency, and agricultural resilience, while highlighting the need for public sector support and donor capital to mitigate risks and catalyze private investment.

The U.S. plug-in electric vehicle (PEV) market is characterized by rapid growth, with sales increasing 85 percent between 2012 and 2013. The market is dominated by four models: the Nissan LEAF, Chevrolet Volt, Toyota Prius Plug-in, and Tesla Model S. While PEVs produce no tailpipe emissions and generally lower greenhouse gas emissions than gasoline vehicles, challenges remain regarding charging infrastructure and the high cost of battery packs. Federal and state incentives, including tax credits up to $7,500, are used to improve commercial viability.

The report argues that China can leverage green bonds to meet its 12th Five-Year Plan environmental goals and reform its financial system. It proposes a roadmap including the definition of eligible green investments, the use of covered bonds to increase transparency for local government debt, and the creation of a Foreign Direct Investment (FDI) window for green bonds. The authors suggest that government support through tax incentives, first-loss provisions, and the use of state-owned enterprises for demonstration programs is essential to kick-start the market and attract both domestic retail and international institutional investors.

The report details a period of transition for South Africa's energy efficiency sector. While new building codes (SANS 10400) and tax incentives (Section 12L) aim to institutionalize efficiency, the market for domestic solar water heaters has seen a decline and consolidation following the cessation of various Eskom subsidies. Conversely, the LED lighting and embedded generation sectors, particularly solar PV, show signs of growth and increasing price competitiveness.

The South African waste economy, valued at R15.3 billion, is transitioning from 'end of pipe' to 'cradle to cradle' solutions under the National Environmental Management: Waste Act. While the recycling rate stands at 19.6%, the sector faces significant hurdles in municipal procurement, feedstock security, and legal authorisation backlogs. In the Western Cape, municipalities like Cape Town, Drakenstein, and Stellenbosch are pursuing waste-to-energy and organic waste treatment to address critical landfill airspace shortages, with some landfills estimated to have less than 3 years of capacity remaining.

The report details a transition in South Africa's energy efficiency landscape, marked by the introduction of new building codes (SANS 10400) and mandatory quality testing for solar water heaters. While the high-pressure solar water heater market is consolidating after a peak in 2011 and the low-pressure sector is described as 'virtually extinct', the embedded generation sector, particularly solar PV, is showing growth as it approaches price parity with Eskom retail pricing. Financial incentives are shifting from Eskom-funded rebates, which have been largely cancelled, toward tax deductions under Section 12L.

The report examines South Africa's renewable energy landscape in 2014, detailing the regulatory framework, utility-scale and private markets, and the manufacturing of components. It highlights the role of the Integrated Resource Plan (IRP) and the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) in driving capacity, while noting grid constraints and the importance of the Western Cape as an industry hub.

The document examines the AAU market from 2008 to 2012, focusing on how Central and Eastern European (CEE) countries used Green Investment Schemes (GIS) to transform 'hot air'—surplus emission rights resulting from economic downturns—into funding for climate mitigation. It analyzes the strategies of seller countries like Estonia and the Czech Republic, which were successful due to transparent monitoring, and buyer countries like Japan and Spain, which used these deals for technology exports. The report highlights a significant price drop in AAUs by 2012 and discusses the potential for GIS to inform future fund-based mechanisms like NAMAs in developing countries.

The document proposes a 'parts approach' to overcome barriers to the adoption of automotive carbon fiber composites. Rather than attempting whole-vehicle integration, it suggests targeting specific parts (such as rear hatches or door inners) for mainstream volumes of 50,000 to 100,000 units per year by model year 2018. This strategy aims to create a viable business case, drive scale, and identify technology and funding gaps through a collaborative supply chain team including OEMs, Tier 1 suppliers, and material producers.

The EU-ETS is the world's largest cap-and-trade system, regulating approximately half of the EU's CO2 emissions across 30 countries. While it has evolved through three trading periods to include more greenhouse gases and airline emissions, the system has suffered from severe over-allocation of allowances, leading to price collapses and a surplus of approximately 2 billion allowances by the end of 2012.

This report evaluates the first year of the Indian Renewable Energy Certificate (REC) market, launched in March 2011 to help meet the National Action Policy on Climate Change target of 15% renewable electricity by 2020. The authors find that the market has failed to attract significant investment or drive cost reductions due to low participation, poor enforcement of Renewable Purchase Obligations (RPO) by states, and a lack of long-term price signals. While the conceptual design is deemed adequate in some areas, the execution is hampered by the financial instability of State Electricity Boards and a preference among developers for traditional feed-in-tariffs.

The report analyzes the potential for scaling up cattail harvesting in Manitoba, identifying it as a viable biomass source for bioenergy and a tool for reducing nutrient loading in Lake Winnipeg. It finds a current lack of explicit legislation for cattail harvesting and proposes two management scenarios: one emphasizing private benefits (modeled on wild rice harvesting) and another emphasizing public benefits (funded through contracts and incentives). The analysis also explores carbon offset opportunities, suggesting that while national and provincial markets are fragmented, the Verified Carbon Standard (VCS) and Alberta's protocols offer viable models for generating credits from methane avoidance and fossil fuel displacement.

The report argues that tropical wood production can be sustainable if shifted away from primary forest logging toward high-yield plantations on degraded lands. It highlights the role of certification programs like FSC and PEFC, though it notes low adoption rates in high-deforestation regions. The document provides specific recommendations for producers, businesses, consumers, and governments to reduce the environmental impact of wood and paper products.