Posts tagged Rishikesh Ram Bhandary
How Effective are Climate Finance Policies?
How Effective are Climate Finance Policies?

On February 3rd, a proposal to establish a National Green Bank was floated in both chambers of the U.S. Congress. The proposal calls for $100 billion Clean Energy and Sustainability Accelerator to help unlock credit and direct financing towards technologies that need to be commercialized. This proposal also follows closely on the heels of the recently released National Academies of Science, Engineering and Medicine report on deep decarbonization (co-authored by Kelly Sims Gallagher) which calls for a green bank at the federal level that can help capitalize local level green banks. It comes amidst reports that governments, corporations and other entities last year raised over $490 billion in green bonds and social impact vehicles.

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Climate SmartClimate Policy Labclimate finance, Rishikesh Ram Bhandary, Kelly Sims Gallagher, Fang Zhang, 2021, deep decarbonization, national climate funds, green bonds, green climate fund, national development banks, equity, climate policy performance, climate policy, loan guarantees, US, carbon pricing Comment
South-South Coal: If Recipient Countries Go Green, so Would the BRI
South-South Coal: If Recipient Countries Go Green, so Would the BRI

China’s recent pledge to achieve ‘net-zero’ emissions by 2060 garnered much international attention. Europe and Japan are already committing to net zero targets that phase out most coal usage by 2030, and a re-entry of the United States into the Paris Agreement will mean greater pressure on China to exit from coal. China’s top academic experts are suggesting the country’s coal use needs to fall to 5 percent or less by 2050, unless coupled with carbon capture and storage. While China’s pledge covers emissions within its own territory, it continues to accumulate a major footprint overseas with its financing of coal-fired power plants. China’s external financing of coal is likely to face greater scrutiny as well with a growing number of countries and international institutions pledging to stop the funding of coal projects.

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Climate SmartClimate Policy LabRishikesh Ram Bhandary, Easwaran Narassimhan, Fang Zhang, 2020, China, China BRI, coal, China Belt and Road Initiative, Paris Agreement, net zero, carbon capture, climate finance, national development banks, South-South, energy transition, electricity reform
G-20 Stimulus 101 - Focusing on Buildings to Build Back Better
G-20 Stimulus 101 - Focusing on Buildings to Build Back Better

When leaders of the G20 met this weekend, they appeared to focus heavily on the major challenge to the global economy: a second wave of the global pandemic and the possibility of breakthrough vaccine. But always in the wings of any global economic discussion is the longer-term challenge of tackling the climate crisis. As G-20 countries consider additional economic stimulus to tackle both crises, our research shows that energy efficiency of buildings (BEE) is a comprehensive solution that can both create new, green jobs while providing a major step towards decarbonizing economies. Both the United States and China have targeted BEE in past stimulus spending. With the G-20 countries pledging to enhance their commitments under the Paris Agreement, including BEE would offer countries multiple benefits.

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Climate SmartClimate Policy LabRishikesh Ram Bhandary, 2020, Paris Agreement, Build Back Better, green stimulus, US, China, climate finance, Germany, Japan, national development banks, energy transition, energy efficiency, energy RD&D, energy innovation, Innovation
Scaling Up Solar Pumps for Irrigation and Domestic Water Use in Ethiopia: The Role of Blended Finance
Scaling Up Solar Pumps for Irrigation and Domestic Water Use in Ethiopia: The Role of Blended Finance

In its announcement of the award of the 2020 Nobel Prize to the World Food Program, the Norwegian Nobel Committee said it wished “to turn the eyes of the world towards millions of people who suffer from or face the threat of hunger.” The issue of food security is increasingly a priority for governments in the developing world, leading to growing attention to sustainable agriculture methods and the potential for blended finance, that is a combination of government and private sector infrastructure funding, to facilitate progress. Our latest policy brief from Climate Policy Lab discusses the role blended finance can bring in promoting sustainable irrigation systems, highlighting the benefits in a case study of Ethiopia’s agricultural sector.

The government of Ethiopia has targeted the agricultural sector for market-led growth and rural transformation to build resilience to climate change and foster economic growth. Agriculture dominates Ethiopia’s economy, representing 40% of GDP and 75% of workforce employment. Only approximately 250,000 hectares of agricultural land out of a potential of 5 million are irrigated in Ethiopia at present. Many small farms grow teff and other rain-fed subsistence crops using manual labor and animals. As part of Ethiopia’s ambition to become a middle-income country by 2030, improvement of efficiency in the agriculture sector is critical.

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Climate Policy LabEaswaran Narassimhan, Rishikesh Ram Bhandary, 2020, Ethiopia, solar pumps, blended finance, sustainable agriculture, green climate fund, solar, climate finance, irrigation, water scarcity