Examples of growing climate action: Finance

This "good news barrel" features inspiring examples of finance for the period to 22 July 2013 to 29 May 2014. For new stories that show that action is happening to generate climate-friendly finance, check out our Newsroom <unfccc.int>

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  1. (Posted 29 May) Capital One has gone in on solar with SolarCity recently, helping to boost third-party financing. One of the largest US banks has put down $100 million in an investment fund with SolarCity to finance thousands of home solar systems. This will allow thousands of residential users the opportunity to have free solar panels installed, and pay less for electricity, compared to electricity from utilities.
  2. (Posted 27 May) Carbon finance is emerging as an attractive option to help scale-up cookstove projects, through the #CDM and through voluntary markets, where demand for credits from cookstove projects has been rising rapidly.
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  4. (Posted 15 May) Stanford University has decided to divest its $18.7 billion endowment fund from coal assets. This means the school will refrain from directly investing in coal or mining industries, or holding shares in such companies. huff.to/QHDhYK
  5. (Posted 24 April) The African Development Bank has opened a climate change fund aimed at ensuring countries on the continent get more help adapting to the effects of global warming. Launched last week with an initial contribution of $6 million from Germany, the Africa Climate Change Fund (ACCF) is set to invite bids for project financing next month.
  6. (Posted 19 February) Big investors like Microsoft, Deutsche Bank and Bank of America are getting jazzed about green bonds. What makes green bonds different from other fixed income products is that their revenue often comes from climate-friendly businesses and projects, such as wind and solar power. Their S&P credit ratings are AAA and their scope and potential return is expanding. cnb.cx/1eznoIa #climatefinance
  7. (Posted 12 February) A model of #climatefinance: the New York Green Bank, the largest green bank in the US, is now open and seeking lenders/investors for renewable energy and energy efficiency projects bit.ly/1dH4sqP
  8. (Posted 28 January) Great example of climate finance. The Adaptation for Smallholder Agriculture Programme channels climate finance to millions of smallholder farmers worldwide so they can access the tools and technologies that help build their resilience to climate change. More: bit.ly/1bl14QP
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  10. (Posted 23 January) Sudan’s Low Smoke Stoves initiative delivers health and economic benefits to households in the strife-torn region of Darfur, where climate change, drought and desertification are a fact of life. The project provides micro-financing opportunities for families wanting to replace traditional wood and charcoal stoves with more energy-efficient and clean stoves. More: bit.ly/18cRaWO
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  12. (Posted 14 January) In Kenya, the African Development Bank has initiated a Green Zone Development project to provide biogas fuel for schools, saving trees from being cut for firewood, and improving food security. This is a great example showing how people can combine climate change mitigation with improved livelihoods: bit.ly/1agoBDz
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  14. (Posted 13 January) Remarkable leadership: Typhoon-battered Philippines aims to be 100% per cent powered by renewables within a decade. The Philippines government has approved 8 new hydro projects and 4 wind projects steps, taking concrete steps towards achieving this goal bit.ly/1aWFza9
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  16. (Posted 26 November) Uzbekistan is one of the most carbon intensive countries in the world, with nearly 90% of power generated from fossil fuel-based plants. The Asian Development Bank is supporting the construction of the country's first solar power plant, which will dramatically cut greenhouse gas emissions. buzz.mw/b5jya_n
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  18. (Posted 23 October) Costa Rica has opened its environmental bank BANCO2, a milestone towards the country's target of full carbon neutrality in 2021 bit.ly/16VLRbY
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  20. (Posted 18 October) Good news from Sweden and a potential game-changer! The $38-billion Fourth Swedish National Pension Fund, AP4, has decided to start investing in low-carbon assets. Currently the Fund had large holdings in carbon intensive companies, but this is set to change - not least because low-carbon is simply more profitable. bit.ly/1crOkvo
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