ANNUAL REPORT 2016–2017 2016–2017 ANNUAL REPORT | 1 2 | CF-ASSIST CONTENTS Foreword 2 CF-Assist: 2016–2017 3 CF-Assist: In Action 5 Climate Analytics and Advisory Services 5 Climate Knowledge Fora 12 Global Capacity-Building and Innovative Knowledge Solutions 17 Networked Carbon Markets Initiative 19 CF-Assist: Looking Ahead 21 CF-Assist: Around the World 22 2016–2017 ANNUAL REPORT | 1 FOREWORD the evolving climate change action agenda. One of the CF-Assist Trust Fund’s key efforts is translating knowledge into learning. This year the CF-Assist Trust Fund launched e-learning courses on Measuring, Reporting and Verification (MRV) and Results-Based Climate Finance (RBCF) that help guide clients on how to design and implement greenhouse gas reporting programs and understand RBCF approaches to mobilize climate finance. Broadening its Innovative Knowledge Solutions program, the CF-Assist Trust Fund also piloted Bite-Sized Learning programs. These are short, substantive videos on emissions trading schemes, carbon pricing and NDCs. As this report goes to production, the CF-Assist Trust Fund team is preparing for the English-language version of its Massive Open The international treaty on climate change, widely Online Course—”From Climate Science to Action.” known as the Paris Agreement, marked a historic breakthrough when it entered into force in November Looking ahead, the CF-Assist Trust Fund’s support to the 2016. The international community joined hands Carbon Pricing Leadership Coalition (CPLC) will continue to move forward with an ambitious plan to limit to bring government and the private sector together global temperature increases to 1.5 degree Celsius. to develop effective and efficient carbon-pricing As countries around the world come together to schemes. Also, collaborating with the Partnership for combat climate change, the Carbon Finance Assist Market Readiness and the CPLC, the CF-Assist Trust (CF-Assist) Trust Fund is well positioned to assist Fund supports the Networked Carbon Markets Initiative developing countries in their transition toward low- in the development of innovative tools, services and carbon development and the implementation of their institutional frameworks to support carbon-market Nationally Determined Contributions (NDCs). linkages post-Paris. This year the CF-Assist has delivered capacity- We would like to take this opportunity to thank our building programs through technical assistance and donors—the Netherlands, Spain and Switzerland for project support for implementing NDCs, low-carbon their continued trust and support which allow us to development and climate finance options in developing address the ever-growing demand for capacity building countries. We have worked with Ethiopia and Vietnam and to deliver our successful programs. on climate policy and carbon pricing; Malawi and South Africa on low-carbon development; Mozambique, Zimbabwe and Vietnam on NDC implementation; Zimbabwe on climate finance readiness; Mexico on developing a strategy to access the Green Climate Fund; and more. James Close The CF-Assist Trust Fund is focused on providing Director, Climate Change complementary capacity-building services that address The World Bank Group 2 | CF-ASSIST CF-ASSIST 2016–2017 MISSION policy. These e-learning programs and platforms are linked to more than US$1.2 billion of WBG financing through funds and instruments spread across various The Carbon Finance-Assist (CF-Assist) Trust Fund is a initiatives, and they enable those initiatives to scale- multi-donor, World Bank Group (WBG)-executed trust up existing activities, grow their project portfolios and fund that responds to the demands of client countries reach new clients. embarking on a low-carbon, climate transition in advancing their national sustainable development goals. It aims to strengthen the capacity of countries APPROACHES by providing technical assistance, customized knowledge and capacity-building solutions through n Climate Analytics and Advisory Services the WBG’s new and emerging operations and in (read more on page 5) coordination with development partners. n Climate Knowledge Fora Since its inception in 2005, the CF-Assist Trust Fund (read more on page 12) has trained more than 55,000 participants in client countries to enhance their knowledge, skills and n Global Capacity-Building and Innovative Knowledge institutional capacity to design and implement climate Solutions (read more on page 17) change mitigation activities. Overall, more than 340 projects and programs have been identified and n Networked Carbon Markets Initiative supported through the CF-Assist Trust Fund, as well as (read more on page 19) 25 low-carbon development draft plans and one national climate change investment plan. Furthermore, the CF- Assist Trust Fund has invested in innovative knowledge platforms with evolving content on climate finance and 2016–2017 ANNUAL REPORT | 3 CF-ASSIST 2016–2017 FUNDING CF-ASSIST DONOR CONTRIBUTIONS SINCE 2005 US$425,000.00 US$1,314,863.75 1% Danish Carbon Fund 4% The Danish Carbon Fund Australia Department of Foreign Affairs and Trade US$10,090,881.89 US$16,012,110.00 31% 49% Switzerland State Secretariat for Economic Affairs Kingdom of Spain US$752,220.00 2% US$4,138,160.00 US$178,560.00 France—Agence Francaise de Developpement 13% Netherlands Ministry of Infrastructure and Environment France Ministry of Ecology and Sustainable Development TOTAL IN USD $32,911,796.00 4 | CF-ASSIST CF-ASSIST IN ACTION CLIMATE ANALYTICS AND ADVISORY SERVICES MEXICO PAKISTAN BHUTAN VIETNAM INDIA COLOMBIA ETHIOPIA MOZAMBIQUE MALAWI ZIMBABWE SOUTH AFRICA The CF-Assist Trust Fund strengthens the capacity policy packages and the enhancement of national of developing countries to understand, integrate and capacity to plan for, access, deliver and monitor climate develop low-carbon initiatives in a way that is consistent finance. In this capacity, CF-Assist Trust fund currently with countries’ NDC, sustainable development priorities works in Bhutan, Colombia, Ethiopia, India, Malawi, and climate-action strategies. Country support Mexico, Mozambique, Pakistan, South Africa, Vietnam programs focus on the identification of transformational and Zimbabwe. DISCLAIMER: Country borders or names do not necessarily reflect the World Bank Group’s official position. This map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank Group concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. 2016–2017 ANNUAL REPORT | 5 CF-ASSIST IN ACTION CLIMATE ANALYTICS AND ADVISORY SERVICES BHUTAN & INDIA COLOMBIA HYDROPOWER AGREEMENTS AIR POLLUTION AND GREENHOUSE GAS EMISSIONS POLICY India, through its NDC, has committed to generate more The Metropolitan Area of the Aburrá Valley in Colombia than 40 percent of its electricity from non-fossil fuel requested analytical support from the World Bank sources by 2030. This challenging goal can be partially Group for a carbon-pricing pilot project in Medellín, met through cooperation with neighboring countries. the country’s second largest city. The project, linked For example, India can use internationally transferred to the Colombia Partnership for Market Readiness and mitigation outcomes from hydropower in Bhutan (or the second Colombia Green Growth Program, aims Nepal) toward its NDC. to improve the understanding and use of economic instruments for improving air quality and reducing This CF-Assist Trust Fund program will: greenhouse gas (GHG) emissions at national and subnational levels. n Design a mechanism to promote sustainable development and ensure environmental integrity and This CF-Assist Trust Fund program is currently: transparency; n Developing a methodology for designing and n Define governance and accounting principles that will implementing pricing policies to control criteria air avoid double counting; contaminants and GHG emissions; n Applying the methodological framework, including n Design a mitigation outcome transfer mechanism that analytics and stakeholder consultations, to selected ensures environmental integrity and transparency; jurisdictions; n Design governance and institutional arrangements for n Convening a South-South-North knowledge exchange the mitigation outcome transfer; and to share relevant experiences with other regions that face similar air quality challenges and have n Facilitate stakeholder consultations. implemented similar economic instruments to control air pollution and GHG emissions; and n Promoting the methodological framework and facilitating its adoption in national and subnational regions facing similar challenges. 6 | CF-ASSIST CF-ASSIST CLIMATE ANALYTICS AND ADVISORY SERVICES IN ACTION ETHIOPIA MALAWI CARBON PRICING LOW-CARBON DEVELOPMENT As a member of the High Level Panel on Carbon Pricing, The World Bank Group, in partnership with the African Ethiopia’s prime minister expressed interest in the use and Development Bank, is assisting the Government of promotion of all policy instruments and public investment Malawi in developing an investment plan for climate schemes, including carbon pricing, that are found to be change and NDC Implementation. Malawi’s investment effective, fair and efficient in preventing dangerous climate plan, which will integrate climate resilience into core change. The Government of Ethiopia commissioned a development planning, should set the course for an study, with the support of the World Bank Group (WBG), ambitious and strategic vision that will allow the on the role and possible forms of carbon-pricing policies in Ethiopia—these policies might also be applicable to country to attract funding on an ongoing basis and put similar low-income developing countries. This work is it on a low-carbon, climate-resilient trajectory in the being developed as one of the deliverables for the WBG’s face of a changing climate. programmatic advisory services to Ethiopia’s Climate Resilient Green Economy Initiative. This CF-Assist Trust Fund program will: This CF-Assist Trust Fund program has: n Enhance learning and knowledge sharing on investment planning, access and delivery of climate n Created a research partnership with the Ethiopian finance into low-carbon resilient development—at Development Research Institute and the Environment country, regional and international levels. and Climate Research Center and conducted an early assessment of the economic and social effects of carbon pricing in Ethiopia for phase I of the grant study; n Developed a detailed methodology for Phase 2 of the study; n Held a workshop to discuss and validate the technical approach of the study; n Hosted a workshop centered on reviewing the preliminary results of the Phase I study and introducing the methodology of Phase 2; and n Supported capacity building. 2016–2017 ANNUAL REPORT | 7 CF-ASSIST IN ACTION CLIMATE ANALYTICS AND ADVISORY SERVICES MEXICO MOZAMBIQUE GREEN CLIMATE FUND FINANCING CLIMATE FINANCE READINESS The Government of Mexico, recognizing the need to Mozambique recently developed a national climate- leverage private, public and international financial change adaptation and mitigation strategy to increase resources to achieve its ambitious climate change economic and social resilience, reduce climate risks mitigation goals, has requested technical assistance to and promote a low-carbon economy. As it works on help it overcome challenges related to insufficient financial improvements to electricity production, transportation, resources, particularly as falling global oil prices have land use and waste disposal and treatment, the country prompted substantial fiscal austerity measures. requested support from the World Bank Group to enhance its capacity to access climate finance, improve This CF-Assist Trust Fund program has: its greenhouse gas emissions inventories and analyze n Developed an operational manual with the Mexican a set of suitable policies and measures that will enable government that the National Designated Authority will NDC implementation. use for the selection and evaluation of funding proposals for the Green Climate Fund (GCF); This CF-Assist Trust Fund program will: n Developed brochures and infographics for the n Help government entities develop a strategy to access general public on the GCF that describe its purpose, climate finance from a variety of sources; and mission, processes and operational policies— including criteria and eligibility requirements defined n Advance the country’s NDC goals by projecting future by the Government of Mexico; emissions and assessing the cost and mitigation potential of a suite of policy options in electricity n Hosted the workshop “Accessing Finance Through the production, transportation, land use, forestry and GCF”; and solid waste disposal and treatment. n Supported capacity-building and knowledge exchange. “The World Bank, with CF-Assist Trust Fund support, has the convening power to bring together all sustainable development counterparts, which has never happened before.” —Mexico Country Management Unit 8 | CF-ASSIST CF-ASSIST CLIMATE ANALYTICS AND ADVISORY SERVICES IN ACTION PAKISTAN SOUTH AFRICA CLIMATE CHANGE POLICY LOW-CARBON FINANCE Still in its early stages, this CF-Assist Trust Fund The South African National Treasury submitted a request program will support the Government of Pakistan in to the World Bank Group seeking assistance to identify implementing its national climate change policies, options to mobilize private-sector finance to support low- including its NDC. It will also facilitate World Bank Group carbon investments. This CF-Assist Trust Fund program engagement with Pakistan on climate change to help will help the South African government develop a better the country deliver on regional and corporate climate- sense of where and how to propose and implement large- change commitments. scale energy efficiency projects, how to catalyze private- sector finance to support energy-efficiency investments This CF-Assist Trust Fund program will: and how to shift to a low-carbon economy. n Conduct an analysis of energy sector reform and This CF-Assist Trust Fund program will: assess related climate co-benefits; n Assess the demand for energy efficiency and low- n Assess potential actions to promote energy efficiency, carbon investments in heavy industry; renewable energy and demand-side management; n Research financial resources to support reductions n Assess potential policy actions to promote the use of natural gas; and in energy- and carbon-intensity in South Africa’s industrial base; and n Support provinces as they integrate climate-change objectives into their development programs to n Identify options for leveraging public resources to capture the economic benefits of resilience. catalyze private-sector finance to support energy ns.ns. efficiency and low-carbon investments. 2016–2017 ANNUAL REPORT | 9 CF-ASSIST IN ACTION CLIMATE ANALYTICS AND ADVISORY SERVICES VIETNAM ZIMBABWE MITIGATION POLICY ANALYSIS CLIMATE FINANCE Through its NDC and related programs, the Government In the context of the Zimbabwe Climate Change of Vietnam has defined what it wishes to accomplish Technical Assistance Program, this CF-Assist Trust in mitigating greenhouse gas emissions within its Fund program aims to support the country in building climate change and green growth development goals capacity for implementation of its NDC, as well as in various sectors. The World Bank Group has been support its ability to access climate financing from new sources, including the Green Climate Fund (GCF). supporting Vietnam’s implementation of priority actions Through the creation of a low-carbon development and this CF-Assist Trust Fund program will enhance the strategy, the country will develop a pipeline of government’s capacity and provide strategic support on bankable projects in line with its climate-change how to achieve its mitigation goals. strategies, plans and policies, involving the private sector where applicable. This CF-Assist Trust Fund program: This CF-Assist Trust Fund program has: n Has conducted a Marginal Abatement Cost (MAC) curve analysis of current and planned policy actions n Provided training on the GCF, its approach, project in priority areas for NDC mitigation targets; approval cycle and access modalities; n Will conduct a political economy analysis of n Supported the Infrastructure Development Bank of constraints, barriers and risks of climate change Zimbabwe in attaining its accreditation to the GCF; and policies identified by the MAC curve analysis; and n Supported NDC implementation through strategy, analysis, measurement, reporting, verification and n Will support the government’s preparation of and communications. capacity building for the implementation of the country’s NDC. 10 | CF-ASSIST CF-ASSIST CLIMATE ANALYTICS AND ADVISORY SERVICES IN ACTION RESULTS-BASED CLIMATE FINANCE KNOWLEDGE AND ADVISORY SERVICES PROGRAM After the Paris Agreement, results-based approaches expected to become available in a post-2015 development for financing climate action have come into focus again scenario will need effective disbursement mechanisms, in international development discussions. Governments notably ones that can integrate public- and private- are looking for ways to put a price on carbon, improve finance flows. Based on experiences using Results- aid effectiveness, advance institutional capacity, improve Based Climate Finance (RBCF) components in Official transparency, increase ownership of implemented Development Assistance energy and carbon development programs and improve monitoring capacity in order to initiatives, we’ve seen that Results-Based Climate Finance ensure long-term sustainability of initiatives. Additionally, has the potential to help provide solutions. the significant amounts of climate finance that are This CF-Assist Trust Fund program is currently: n Developing e-learning and technical assistance HIGHLIGHT materials on RBCF; In 2016 the CF-Assist Trust Fund developed n Providing client countries, as well as relevant two modules of the RBCF e-learning course development staff, with an understanding of the principles and applicability of RBCF; “Introduction to Results-Based Climate Finance,” and a pilot was delivered in Novem- n Illustrating how RBCF can be applied in different contexts ber 2016. The course received excellent feed- and explaining its specific challenges and constraints; back from participants and two additional n Advancing results-based approaches in climate modules are planned for 2017. The CF-Assist finance within donor and climate-finance Trust Fund also contributed to the devel- communities; opment of the RBCF study “Results-Based n Working to improve recognition of RBCF under Climate Finance Initiative Mapping, Outlining the United Nations Framework Convention on and Assessment,” which will be launched Climate Change beyond reducing emissions from at the WBG’s Innovate4Climate Finance and deforestation and forest degradation, or REDD+; and Markets Week in May 2017. n Working to provide lessons learned on RBCF and outline areas for further RBCF applications and potential pilot activities. 2016–2017 ANNUAL REPORT | 11 CF-ASSIST IN ACTION CLIMATE KNOWLEDGE FORA PANAMA CITY 2017 BARCELONA, SPAIN 2016 THE LATIN AMERICAN AND INNOVATE4CLIMATE CARIBBEAN CARBON FORUM 2016 KIGALI, RWANDA AFRICA CARBON FORUM The CF-Assist Trust Fund offers a discrete space for Parties (post-Paris Agreement) efforts to meet climate private- and public-sector actors to connect and goals that complement newly launched Sustainable collaborate on climate finance, as well as policies Development Goals at the national level. These fora and measures that incentivize financial support provide an opportunity for capacity building in designing from international and domestic sources. Our annual carbon-pricing policies and planning investments that conferences contribute to post-Conference of the will support countries’ NDCs. DISCLAIMER: Country borders or names do not necessarily reflect the World Bank Group’s official position. This map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank Group concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. 12 | CF-ASSIST CF-ASSIST CLIMATE KNOWLEDGE FORA IN ACTION INNOVATE4CLIMATE FINANCE AND MARKETS WEEK (I4C) 2015 saw momentous leaps in global development finance and policy instruments to unlock the necessary and climate finance. By including climate action in the trillions of dollars and the business-friendly environment broader sustainable development agenda, the 2030 needed for investing in climate action. I4C events will Agenda for Sustainable Development and the Paris cover a broad range of climate-finance topics, including Agreement set the direction for shaping the global mitigation, adaptation and climate-resilient development, climate-finance landscape. Because climate change is a in a global context. The event series is designed to foster threat to the World Bank Group’s (WBG) core mission of the development of innovative financing approaches to ending extreme poverty and building shared prosperity support low-carbon, transformational, climate-resilient around the world, it is essential for the WBG to tackle development pathways and help developing countries to climate and development in an integrated way by implement their NDCs. leveraging these new agreements and using the most effective financing instruments. The WBG will launch the Innovate4Climate event series in Barcelona in May 2017, with a conference, numerous With this purview, the CF-Assist Trust Fund, together with workshops and side events, and an exhibition area, all built its partners, is launching the Innovate4Climate Finance around six thematic streams: and Markets Week (I4C) event series, which will continue the CF-Assist Trust Fund’s leadership role in climate finance 1. Scaling-up NDCs, by building on the strong legacy of the Carbon Expo—the 2. Carbon markets, leading event for carbon finance since 2003. The I4C is a 3. De-risking investments, platform for a new global dialogue among governments, 4. Climate-resilient development, multilateral banks, businesses, and banking and finance 5. Green growth policies, and leaders focused on shaping the next generation of climate 6. Metrics and tools. 2016–2017 ANNUAL REPORT | 13 CF-ASSIST IN ACTION CLIMATE KNOWLEDGE FORA Knowledge-focused sessions will feature deep- Program objectives include: dive workshops and technical how-to tutorials, in-depth case studies, and interactive sessions n Continuation of the climate change agenda outline with cutting-edge knowledge and capacity-building to best serve the 2030 Agenda for Sustainable opportunities for climate finance professionals. Development and the Paris Agreement, and the Innovation-focused sessions will include nearly WBG’s client countries; 30 workshops around the six thematic streams. Regional topics, business opportunities, and new n Establishing the I4C as a “must attend” and “one- trends and financial instruments will be presented stop-shop” event for cutting-edge information, by leading organizations in the field, offering reliable knowledge, networking and business development in information on current states and trends of climate climate finance and development; and finance and markets and excellent networking opportunities. High-level panel discussions, keynote n Maintaining and expanding the leadership role addresses, dialogues and interviews, with deep of the World Bank Group within global climate insights into current and future climate finance and and development finance work in the post-2015 market landscapes will make this a truly remarkable development landscape. event. Investors, policy makers, business leaders, innovators and entrepreneurs will discuss solutions for accelerating climate-focused investments and scaling-up national climate strategies, mobilizing and accessing green finance, and building the next generation of markets through the innovative use of technology and tools. The marketplace will offer a dynamic environment for many private- and public- sector key players and first movers to showcase their activities and foster climate business. REACH More than 1,000 delegates are expected to participate in I4C 2017 in Barcelona. Special attention is given to ensuring representation of client country governments and the private sector. The event was promoted at COP22 and other international events in 2016 and 2017. Several WBG carbon funds are organizing their annual meetings during the event, and marketing and communication specialists and external vendors and partners are focusing on increasing the impact of the event. 14 | CF-ASSIST CF-ASSIST CLIMATE KNOWLEDGE FORA IN ACTION AFRICA CARBON FORUM The Eighth Africa Carbon Forum (ACF) took place in Zambia and representatives of the African Development Kigali, Rwanda, in June 2016. Together with the Nairobi Bank, United Nations Framework on Climate Change, Framework Partnership (NFP), the CF-Assist Trust Fund United Nations Development Programme and other key is helping to create a platform to help African countries partner organizations. The ACF program included a series access the emerging carbon markets of the Clean of high-level, solutions-focused dialogues, plenaries, Development Mechanism and to engage policy makers in technical sessions and in-depth training sessions. conversations about climate finance, policy, technology, Discussions focused on the latest in climate policy, best practices and lessons learned tailored to the climate finance, market instruments and climate-resilient emerging needs of African countries. landscapes. Participants shared knowledge and explored other strategies and avenues for collaboration in the The eighth edition of the ACF was dedicated to context of Sustainable Development Goals and the new “Promoting Cooperative Climate Action in Africa.” The NDCs that were endorsed in Paris. The CF-Assist Trust conference had a record number of 500 participants, Fund supported countries that attended the ACF to gain predominantly from the Africa region. High-level speakers critical knowledge about climate finance. included ministers from Rwanda, Kenya, Uganda and Program objectives include: n Providing a platform for African policymakers and practitioners to discuss the latest developments related to climate change policy, carbon pricing and finance; n Sharing knowledge on innovative solutions in the context of NDCs and other strategies; and n Exploring possibilities for collaboration on regional and global climate change initiatives. “We can only overcome our challenges if we support one another and collaborate. I encourage all governments to find ways to work together, either by sharing financial resources, through technology transfer or exchanging know-how. We still have much to learn and a long way to go, but I am sure the sessions on climate finance here at the Africa Carbon Forum will accelerate the implementation of national climate action plans.” —Dr. Vincent Biruta, Rwandan Minister for Natural Resources 2016–2017 ANNUAL REPORT | 15 CF-ASSIST IN ACTION CLIMATE KNOWLEDGE FORA THE LATIN AMERICAN AND CARIBBEAN CARBON FORUM The Latin American and Caribbean Carbon Forum The 10th annual LACCF was held in Panama City (LACCF) also delivered through the Nairobi Framework in September 2016, and was recognized as among Partnership (NFP), supports developing countries in the most successful LACCF by all the co-organizers preparing and implementing their plans to address and the host government. World Bank Group teams climate change and their NDCs under the Paris Climate contributed to sessions on climate action, carbon Change Agreement. The first post-COP21 LACCF pricing and carbon markets and development. There focused on the implementation of the Paris Agreement, was strong leadership from the organizers and strong particularly on the ways in which carbon pricing and support from the host government. Following the carbon markets can help to deliver countries’ climate success achieved in Panama, the next edition of the pledges and serve as sources of funding for projects. LACCF will be hosted by Mexico with great interest expressed and attendance conformed by senior representatives from the region. Program objectives include: n Bringing together main stakeholders in climate change mitigation and carbon markets; n Promoting a discussion and exchange of experiences among stakeholders and providing participants with the latest developments regarding emissions trading schemes, low-emissions development and the future of carbon markets; n Facilitating debates around international and national climate-change mitigation policies to promote GHG- emissions reductions; and n Finding ways to encourage a higher volume of low-carbon investments in Latin American and the Caribbean. “This LACCF was very important for Panama and the region because we have planned to be able to use carbon market mechanisms to finance the implementation our NDCs.” —Rosilena Lindo Climate Change Director, Ministerio del Ambiente, Panamá 16 | CF-ASSIST CF-ASSIST IN ACTION GLOBAL CAPACITY-BUILDING AND INNOVATIVE KNOWLEDGE SOLUTIONS The CF-Assist Trust Fund supports the democratization pricing solutions. The results have been very positive: of knowledge through a new generation of innovative citizens, policy-makers, and development practitioners and impactful online capacity-building products, from around the world have come together on these including self-paced, World Bank Group-facilitated and platforms to learn and share, often providing feedback open-access e-learning courses. The CF-Assist Trust that they feel inspired to spread the word about climate- Fund, in partnership with the WBG’s Online Learning change science and action and that they feel optimistic Campus, is able to share innovative climate finance and that individuals can make a difference. CF-Assist’s unique learning tools include: Massive Open Online Courses (MOOCs): These free n four-week interactive courses are for global learning n Bite-sized learning: These focused learning and discussion around climate-change science and opportunities enumerate the emerging trends in action. Their immersive online experiences include climate-change action, but require a minimal amount video talks, readings, downloadable resources, of time on the learner’s part. quizzes, peer-reviewed assessments, online discussion forums, social media and live broadcasted n E-courses: Containing several hours of cutting-edge panels with experts. instruction and well-informed discussion from expert sources, these free courses on everything from climate finance to climate policy instruments are available as both facilitated and self-paced. 29 17,969+ 125 Number of online knowledge Number of online learners from Number of countries e-learning products created by the May 2016–May 2017 participants come from CF-Assist Trust Fund 2016–2017 ANNUAL REPORT | 17 CF-ASSIST IN ACTION GLOBAL CAPACITY-BUILDING AND KNOWLEDGE SOLUTIONS BITE- SIZE LEARNING COURSE PARTICIPANTS BY REGION This fiscal year witnessed the launch of yet another innovative online learning solution—bite-sized learning. These short but substantive learning videos include: 17% SOUTH ASIA n “From Climate Science to Action: Regional Impacts,” n “FASTER Principles for Successful Carbon Pricing,” MIDDLE EAST n “The NDC Platform: Unveiling the Nationally LATIN AMERICA 2% & NORTH AFRICA Determined Contributions,” and 18% & THE CARIBBEAN n “Emissions Trading in Practice.” EUROPE & E-COURSES 3% CENTRAL ASIA Additionally, two new facilitated courses were launched: n “Designing MRV Systems for Entry-Level GHG Emissions, co-developed with the World Resources Institute” (478 participants), and n “Introduction to Results Based Climate Finance“ (306 participants). And old course updated: n Our “Climate Finance” course was revamped 32% OTHER 8% EAST ASIA PACIFIC to incorporate the Paris Agreement and recent developments from COP22 (802 participants). MOOC 20% AFRICA 2016 saw the launch of the second Spanish Massive Open Online Course: “Bajemos la Temperatura: De la Ciencia Climática a la Acción”—with a live panel discussion with experts at the Latin American and Caribbean Climate Forum, in September 2016 in Panama City. “Thanks a lot. I am grateful. I shall be on the lookout for opportunities to deploy the Highlights: n CF-Assist Trust Fund supported MOOCs have reached knowledge acquired in the course of the people in 71 countries. program and to help my country, and the n 52 percent of participants in the last course were from world, promote low-emission development, South America, with greatest country participation from especially in the transport and logistics Mexico, Colombia, Peru, Venezuela and Bolivia. sector—my area of core competence. ” n Nearly 45 percent of participants in that same course were female. —Joshua n For the latest launch of the course, there were 5,147 posts 2016 e-learning participant on the course discussion board – conversation is critical! 18 | CF-ASSIST CF-ASSIST IN ACTION NETWORKED CARBON MARKETS INITIATIVE Under the Paris Agreement, market- and price-based COUNTRY FOCUS: mechanisms are proliferating, and mitigation actions are In 2016 and 2017, the NCM partnered with a range of becoming increasingly diverse. Against this backdrop, expert groups and governments to apply the World Bank the Networked Carbon Markets (NCM) Initiative seeks to Group’s Mitigation Action Assessment Protocol (MAAP) to enhance the transparency, comparability and potential a diverse set of mitigation actions from different countries, exchangeability of programs and policies with mitigation such as Ecuador, Mexico, Peru and Thailand. To date, outcomes through liquid, scalable and internationally the MAAP has been applied to more than 100 programs connected climate markets. In the short term, the NCM globally, including the Low Carbon City Development Initiative strives to support country design and the Program, Renewable Energy Program, Energy Efficiency implementation of robust mitigation actions. In the Program, Joint Crediting Mechanism Projects and medium term, NCM aims to increase the comparability Nationally Appropriate Mitigation Actions. Moving forward, and linkage of mitigation outcomes within a country and NCM aims to apply the MAAP to 1,000 programs globally between countries on a bilateral basis. And in the long in order to support the development of more robust and term, the initiative attempts to expand the scope to a ambitious mitigation actions, enhance the transparency regional or multilateral basis. and comparability of heterogeneous mitigation actions and ultimately scale-up international cooperation post Paris. The NCM Initiative is a thought leadership platform that is partnering with complementary carbon-pricing and markets teams, such as the Partnership for Market MODERNIZING SYSTEMS: Readiness (PMR) and the Carbon Pricing Leadership The bottom-up nature of the Paris Agreement Coalition (CPLC), to develop innovative tools, services presents new challenges for carbon markets, including and institutional frameworks to support carbon-market heterogeneity of carbon assets, scalability, double linkages post Paris. To advance political support, the NCM counting, diversity in linking arrangements and variations Initiative is working closely with CPLC to bring together in transaction types. Against this backdrop, NCM and governments and business leaders to address key issues PMR initiated a project in January 2017 to explore how and challenges related to carbon-market linkage through new technologies such as blockchain can respond to the joint outreach and analytical work. Beyond a political technical limitations of current practices in data collection, agenda, the NCM Initiative is also working with PMR to processing and transaction. At the same time, NCM is build countries’ technical capacities for linking, including developing a MAAP online interface, to be launched at capacity in Mexico and India. Innovate4Climate in Barcelona in May 2017, with the 2016–2017 ANNUAL REPORT | 19 CF-ASSIST IN ACTION NETWORKED CARBON MARKETS INITIATIVE purpose of providing a user-friendly interface to record Program objectives include: data and expand user access. n To prompt a global discussion about the post-2020 services and institutions needed to support robust, DATA ANALYSIS: transparent and comparable climate actions that The effectiveness of any international linking address domestic needs and circumstances. In arrangements will depend on the transparency of the doing so, the NCM Initiative seeks to contribute to process and accountability of domestic institutions connecting country priorities with the global climate- and structures. As a result, the NCM Initiative, along change agenda; and with Climate Works Foundation and Stiftung Mercator, n Collaboratively develop a blueprint for services and are providing seed funding to Climate Transparency—a institutional frameworks to support a connected consortium of expert groups from developed and international carbon market that is liquid and developing countries that aim to jointly improve the delivers climate-smart financing efficiently. impact, reach and quality of climate-assessment indices and frameworks. As of March 2017, Climate Transparency has identified nine technical partners, including a range of well-regarded national and international institutions, such “The NCM Initiative is working in partnership as the Energy Research Institute in China, the Energy and with many to help make voluntary cooperation Resources Institute in India, Centro Clima in Mexico and approaches workable by establishing the basis the New Climate Institute in Germany. to make them comparable and funvible. Lessons learned from NCM will contribute to new, CONCEPT DEVELOPMENT: innovative approaches to deliver climate finance As an innovation platform, the NCM is continually identifying in an effective way.” opportunities to receive feedback and input on its concepts and products. As of March 2017, the NCM Initiative has —Vikram Widge, partnered with more than 35 private and public institutions Manager, Climate Finance, International Finance Corporation to develop more than 15 joint knowledge products and 25 national and international outreach events. 20 | CF-ASSIST CF-ASSIST LOOKING AHEAD Moving into the second half of 2017 and 2018, the In a constantly evolving environment, the CF-Assist CF-Assist Trust Fund will continue to strengthen its Trust Fund will be the leading voice for maintaining a work in providing capacity-building and technical dynamic dialogue among the program’s constituency, assistance for developing countries to help them on providing updates on the latest developments on WBG a path toward meeting their NDCs. Through global financial instruments and receiving feedback from knowledge fora, technical assistance and engagement potential beneficiaries. The CF-Assist Trust Fund will with government and the private sector, the CF-Assist also work to identify synergies with and disseminate Trust Fund is dedicated to turning climate plans other innovative work, such as developments on into actions and helping countries develop policy, Article 6 of the Paris Agreement and the use of technology and financing solutions. CF-Assist Trust auctions to attract fresh financial resources to Fund’s work on innovative knowledge solutions will mitigation efforts. accelerate with the development of cutting-edge learning tools around climate policy, results-based climate finance (RBCF) and carbon pricing. Bite-sized, quick learning on climate-change mitigation and adaption, and carbon markets and carbon pricing will help countries meet climate goals. The CF-Assist Trust Fund’s primary efforts in the years ahead will strategically support the World Bank Group’s post-Paris climate policy and markets and finance strategy. The CF-Assist Trust Fund hopes to inform developing countries on the evolution of markets and policy instruments in the context of the Paris Agreement and leverage private-sector finance that will enable fulfillment of NDCs. The CF-Assist Trust Fund will also support the Carbon Pricing Leadership Coalition (CPLC). Launched during COP21 in Paris in 2015, the CPLC brings together governments, businesses and NGOs that are advocating for fair, effective and efficient carbon- pricing schemes. There are already 40 countries and 23 cities around the world implementing carbon- pricing initiatives, and the need for more information, capacity building, and tools related to carbon-pricing is growing. Infused with a generous grant from the Kingdom of the Netherlands, and through knowledge products and public-private dialogues at domestic, regional and international levels, the CF-Assist Trust Fund is working closely with CPLC leadership to double the coverage of greenhouse gas emissions via carbon pricing by 2020. 2016–2017 ANNUAL REPORT | 21 CF-ASSIST AROUND THE WORLD GLOBAL BARCELONA, SPAIN GLOBAL-CAPACITY BUILDING & KNOWLEDGE 2017 INNOVATE4CLIMATE SOLUTIONS MEXICO PAKISTAN BHUTAN VIETNAM INDIA ETHIOPIA PANAMA CITY 2016 THE LATIN AMERICAN AND MOZAMBIQUE CARIBBEAN CARBON FORUM MALAWI COLOMBIA ZIMBABWE 2016 KIGALI, RWANDA AFRICA CARBON FORUM SOUTH AFRICA 22 | CF-ASSIST 2016–2017 ANNUAL REPORT | 23 learnclimate@worldbank.org 24 | CF-ASSIST 2016–2017 ANNUAL REPORT | 25 CF-ASSIST THE WORLD BANK 1818 H STREET, NW WASHINGTON, DC 20433, USA 26 | CF-ASSIST