November was a busy month for the Dedicated Grant Mechanism (DGM), with several representatives traveling to Bonn to participate in the DGM's 2nd Global Exchange and the 23rd Conference of the Parties (COP 23) of the United Nations Framework Convention on Climate Change (UNFCCC). Now that COP 23 has ended, we are eager to share some updates and celebrate a major achievement for indigenous peoples and local communities (IPLCs) through this special edition of the DGM Digest. In this issue:
The Government of India and the World Bank today signed a US$98 million Loan Agreement and US$2 million Grant Agreement to help India increase its power generation capacity through cleaner, renewable energy sources. Read More
The KaXu Solar One concentrated solar power project, in the Northern Cape, was on presented with a Momentum of Change award at COP23, this year’s UN Climate Change Conference, in Bonn, Germany. Read More
BATTAMBANG, Cambodia –During an afternoon of sun between the rains in the village of Tuol Ta Aek, a group of children play outside. Nearby, the water line is evident on the villagers’ homes and fences where the floods reached a year ago. Read More
In 2008, as the urgency of global support for climate-smart development became increasingly apparent, donor and recipient countries established the Climate Investment Funds (CIF) through the multilateral development banks as a transitory financial mechanism to help provide an interim climate source of funding, pending the effectiveness of a new multilateral climate finance facility developed under the guidance of the United Nations Framework Convention on Climate Change (UNFCCC).
The Dedicated Grant Mechanism (DGM) of the Forest Investment Program (FIP) is designed to enhance the capacity and support the priorities of indigenous peoples and local communities to strengthen their participation in the FIP and other initiatives related to the reduction of emissions from deforestation and forest degradation (REDD+).
Global investment could hold the key to fighting climate change, with one trillion dollars already invested in solutions such as renewables and energy efficiency, says International Finance Corporation - Read the Full Story
World Bank Board of Executive Directors approves two grants totaling US$35 million for the Renewable Energy for All project, financed by a $19.62 million grant from the Scaling-up Renewable Energy Program (SREP); and the Modern Energy Services for All project, financed by a $15.65 million grant from the Clean Technology Fund (CTF).
Read the Press Release
South Africa's KaXu Solar One project is the first large-scale concentrated solar power plant with storage developed by the private sector operating in an emerging market. The project is also a first for the town of Pofadder in the Northern Cape Province, where the plant started operating in early 2015, moving South Africa towards a clean energy future that also has the potential to bring economic development, including the creation of 4,500 temporary and 80 permanent jobs.