This is done through the issuing of certificates for the generation of electricity using eligible renewable energy sources and requiring certain purchasers (called liable entities) to surrender a specified number of certificates for the electricity that they acquire during a year.
Where a liable entity does not have enough certificates to surrender, the liable entity will have to pay renewable energy shortfall charge.
It provides a good example of a developing economy whose power sector has transitioned (in the relatively recent past) from a largely state-operated model to a market-oriented model.
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The knowledge note explains a cost effective, scientifically sound, replicable, and transparent method for demonstrating the robustness of a development project in the face of the risks posed by climate change, natural hazards, and other factors (“decision tree”). The framework is most effective when a wide range of risks must be considered, as is typically the case with high-value hydropower investments.
WB. 2016d. “Toward Climate-Resilient Hydropower in South Asia.” LiveWire. Washington, DC: World Bank. [#4448]
The Guide was developed with the financial and technical support of the European Bank for Reconstruction and Development, the World Bank Group and its Korea Green Growth Trust Fund.
In emerging markets, climate change threatens infrastructure that is critical for development. Because private companies and investors in emerging markets often manage infrastructure projects through public-private partnerships (PPPs), they will now need to address climate change risks when planning and building these projects. The note explains how new tools and approaches, including insurance, are helping PPPs better respond to climate risks.
This report identifies 10 key areas of opportunity for stronger climate action which will also bring significant economic benefits. Together, it is estimated that these could achieve at least 59% and potentially as much as 96% of the emissions reductions needed by 2030 to keep global warming under 2°C. Cooperation of multiple kinds between governments, city authorities, businesses, international organizations and civil society can help to realize the full economic benefits of these actions.
The New Climate Economy – The Global Commission on the Economy and Climate, Working Paper, 2016. The working paper was written as a supporting document for the 2015 report of the Global Commission on the Economy and Climate, Seizing the Global Opportunity: Partnerships for Better Growth and a Better Climate. It reflects the research conducted for Section 2.6 of the full report and is part of a series of working papers. It also reflects the recommendations made by the Global Commission.
Policy Paper outlines a framework to achieve a co-ordinated policy response to ensure that new and existing infrastructure networks are resilient to climate change based on the experiences in OECD and G20 countries. It shows how governments and businesses can collaborate to mobilize investment for climate-resilient infrastructure.