{"title":"Key Challenges Faced by Fossil Fuel Exporters during the Energy Transition","authors":"Diego Mesa Puyo","doi":"10.5089/9798400270147.066","DOIUrl":"https://doi.org/10.5089/9798400270147.066","url":null,"abstract":"","PeriodicalId":412934,"journal":{"name":"Staff Climate Notes","volume":"8 32","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140406295","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pritha Mitra, Marcos Poplawski Ribeiro, Giovanni Melina, Anna Belianska, Nadja Bohme, Kailhao Cai, Y. Diallo, Saanya Jain, Solo Zerbo
{"title":"Climate Change and Select Financial Instruments:An Overview of Opportunities and Challenges for Sub-Saharan Africa","authors":"Pritha Mitra, Marcos Poplawski Ribeiro, Giovanni Melina, Anna Belianska, Nadja Bohme, Kailhao Cai, Y. Diallo, Saanya Jain, Solo Zerbo","doi":"10.5089/9798400225208.066","DOIUrl":"https://doi.org/10.5089/9798400225208.066","url":null,"abstract":"DISCLAIMER: The IMF Notes Series aims to quickly disseminate succinct IMF analysis on critical economic issues to member countries and the broader policy community. The IMF Staff Climate Notes provide analysis related to the impact of climate change on macroeconomic and financial stability, including on mitigation, adaptation, and transition. The views expressed in IMF Staff Climate Notes are those of the author(s), although they do not necessarily represent the views of the IMF, or its Executive Board, or its management. Sub-Saharan Africa (SSA) is the region in the world most vulnerable to climate change despite its cumulatively emitting the least amount of greenhouse gases. Substantial financing is urgently needed across the economy—for governments, businesses, and households—to support climate change adaptation and mitigation, which are critical for advancing resilient and green economic development as well as meeting commitments under the Paris Agreement. Given the immensity of SSA’s other development needs, this financing must be in addition to existing commitments on development finance. There are many potential ways to raise financing to meet adaptation and mitigation needs, spanning from domestic revenue mobilization to various forms of international private financing. Against this backdrop, SSA policymakers and stakeholders are exploring sources of financing for climate action that countries may not have used substantially in the past. Immediate interest has been expressed in exploring four major areas as sources of financing for governments—where, in some cases, these sources of financing could also be used for private sector adaptation and mitigation efforts: (1) concessional financing, particularly through climate funds; (2) debt instruments that are somewhat linked to climate change; (3) international carbon credit schemes; and (4) climate-related insurance schemes. This Staff Climate Note presents some basic information on opportunities and challenges associated with these financing instruments. It is not endorsing the use of any of these instruments or their relative ability to scale up financing for adaptation or mitigation. The choice of instruments should ultimately be considered in the context of a country’s current macroeconomic situation, policy objectives, and the broader mix of financing options and government policies—including carbon pricing and appropriate risk pricing which can, among other things, shape incentives for spending on adaptation and mitigation. While the focus of this Note is on SSA countries, some of the considerations may apply to other low-income countries (LICs) facing similar circumstances.","PeriodicalId":412934,"journal":{"name":"Staff Climate Notes","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132247368","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
G. Schwerhoff, S. Black, K. Zhunussova, Jean Château, Sneha Thube, Ian Parry, Florence Jaumotte
{"title":"Getting on Track to Net Zero","authors":"G. Schwerhoff, S. Black, K. Zhunussova, Jean Château, Sneha Thube, Ian Parry, Florence Jaumotte","doi":"10.5089/9798400223877.066","DOIUrl":"https://doi.org/10.5089/9798400223877.066","url":null,"abstract":"","PeriodicalId":412934,"journal":{"name":"Staff Climate Notes","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121551578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nate Vernon, V. Mylonas, S. Black, Danielle Minnett, I. Parry
{"title":"How to Cut Methane Emissions","authors":"Nate Vernon, V. Mylonas, S. Black, Danielle Minnett, I. Parry","doi":"10.5089/9798400224256.066","DOIUrl":"https://doi.org/10.5089/9798400224256.066","url":null,"abstract":"","PeriodicalId":412934,"journal":{"name":"Staff Climate Notes","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132026137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hiroko Oura, Ivo Krznar, Fabian Lipinsky, Marco Gross, P. Grippa, T. Adrian, Caterina Lepore, Sujan Lamichhane, Apostolos Panagiotopoulos, V. Haksar
{"title":"Approaches to Climate Risk Analysis in FSAPs","authors":"Hiroko Oura, Ivo Krznar, Fabian Lipinsky, Marco Gross, P. Grippa, T. Adrian, Caterina Lepore, Sujan Lamichhane, Apostolos Panagiotopoulos, V. Haksar","doi":"10.5089/9798400212895.066","DOIUrl":"https://doi.org/10.5089/9798400212895.066","url":null,"abstract":"DISCLAIMER: The IMF Notes Series aims to quickly disseminate succinct IMF analysis on critical economic issues to member countries and the broader policy community. The IMF Staff Climate Notes provide analysis related to the impact of climate change on macroeconomic and financial stability, including on mitigation, adaptation, and transition. The views expressed in IMF Staff Climate Notes are those of the author(s), although they do not necessarily represent the views of the IMF, or its Executive Board, or its management. Summary Climate change presents risks and opportunities for the real economies and financial sectors of the IMF’s global membership. Understanding the risks is key to prepare for a successful transition to a lower carbon global economy. This will unlock the many opportunities for technological progress and structural transformation along the path that financial sectors around the world will need to adapt to and support. This note lays out the IMF staff’s emerging approach to assessing the impact of climate change on banking sector stability risks conducted in the context of the IMF Financial Sector Assessment Program (FSAP). The note starts with a primer on climate change risk, both transition and physical, explaining some of the technical terms and concepts used in this work. It explains the approach to standard risk analysis in FSAPs and how this would be modified in broad terms to incorporate climate risk. The note then discusses different approaches to the analysis of physical versus transition risk, their implications for the macro-economy and across sectors in the real economy and different geographies, and how all these effects map into the banking sector. The note illustrates concepts with examples of applications from recent FSAPs and takes note of the many challenges confronting this work, including data gaps and uncertainty regarding climate projections and long simulation horizons in conducting the climate risk analysis. As such the note is focused on methods that IMF staff are deploying to raise awareness of the risks, and adaptation needs, including need for banks to develop tools to manage climate risks and for financial sector supervisory authorities to identify pressure points in the financial system adequately respond and supervise this risk. macroeconomic and financial stability surveillance; (3) updating the NGFS climate scenarios on a regular basis; and (4) promoting the use of the NGFS climate scenarios within the financial system. The staff have leveraged learning from the NGFS on climate and macro scenarios in the design of the approach proposed for FSAPs. As indicated previously, the staff intend to use different approaches to deriving carbon taxes including benchmarking scenario design, as feasible, of climate scenarios designed by NGFS. Indeed, transition risk scenarios designed by the work stream have already been used in FSAPs for the United Kingdom. Cross-border cooperation, at this early stage, is ","PeriodicalId":412934,"journal":{"name":"Staff Climate Notes","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125475519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Elena Loukoianova, Ananthakrishnan Prasad, William Oman, Alan Xiaochen Feng
{"title":"Mobilizing Private Climate Financing in Emerging Market and Developing Economies","authors":"Elena Loukoianova, Ananthakrishnan Prasad, William Oman, Alan Xiaochen Feng","doi":"10.5089/9798400216428.066","DOIUrl":"https://doi.org/10.5089/9798400216428.066","url":null,"abstract":"DISCLAIMER: The IMF Notes Series aims to quickly disseminate succinct IMF analysis on critical economic issues to member countries and the broader policy community. The IMF Staff Climate Notes provide analysis related to the impact of climate change on macroeconomic and financial stability, including on mitigation, adaptation, and transition. The views expressed in IMF Staff Climate Notes are those of the author(s), although they do not necessarily represent the views of the IMF, or its Executive Board, or its management. Summary Global investment to achieve the Paris Agreement’s temperature and adaptation goals requires immediate actions—first and foremost—on climate policies. Policies should be accompanied by commensurate financing flows to close the large financing gap globally, and in emerging market and developing economies (EMDEs) in particular. This note discusses potential ways to mobilize domestic and foreign private sector capital in climate finance, as a complement to climate-related policies, by mitigating relevant risks and constraints through public-private partnerships involving multilateral, regional, and national development banks. It also overviews the role the IMF can play in the process.","PeriodicalId":412934,"journal":{"name":"Staff Climate Notes","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132006373","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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