Reference no: EM131192417
The World Bank Green Bond Process Implementation Guidelines
World Bank specific criteria / definitions of green
The green bond program of the World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA) supports the transition to low-carbon and climate resilient development and growth in client countries. This includes both mitigation of and adaptation to climate change-all while observing the World Bank's safeguard policies for environmental and social issues.
Eligible projects supported by the Green Bond program are selected by World Bank environment specialists and meet defined World Bank eligibility criteria for low-carbon and climate resilient development. These criteria underwent an independent review by the Center for International Climate and Environmental Research at the University of Oslo (CICERO). According to CICERO's opinion, "the criteria combined with the proposed governance structure from the World Bank, provides a sound basis for selecting climate-friendly projects."
The below provides some examples of mitigation projects and adaptation projects that meet the Green Bond eligibility criteria and thus are eligible to be supported by the World Bank's Green Bond program (hereafter "Green Bond Projects"):
Examples of eligible mitigation projects:
- Solar and wind installations;
- Funding for new technologies that permit significant reductions in greenhouse gas (GHG) emissions;
- Rehabilitation of power plants and transmission facilities to reduce GHG emissions;
- Greater efficiency in transportation, including fuel switching and mass transport;
- Waste (methane emissions) management and construction of energy-efficient buildings;
- Carbon reduction through reforestation and avoided deforestation.
Examples of eligible adaptation projects:
- Protection against flooding (including reforestation and watershed management);
- Food security improvement and implementing stress-resilient agricultural systems (which slow down deforestation);
- Sustainable forest management and avoided deforestation.
Assignment link - https://www.dropbox.com/s/pewqshz7oylv26w/Assignment.rar?dl=0.
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