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This paper explains the major issues and lessons derived from the national forest management program and REDD+ initiatives in Tanzania. It finds that addressing the most important drivers of forest degradation and deforestation, in particular the country energy needs and landownership, is essential for success in reducing emissions regardless of the type of program implemented. It also finds that, through the national program, forest users have learned to maximize profit from the sustainable use of the forest; however, the program reports great variability in the success of forest conservation. REDD+ may complement the national program by adding funding and other resources to start projects at the local level while giving additional payments for the permanence of carbon stocks may help to improve the social outcomes of those villages practicing sustainable forest management. However, a careful characterization of the national projects is necessary to generalize how REDD+ can be effectively implemented so that additional economic and environmental benefits are generated over what the national program is already achieving. Addressing this issue is key for identifying the conditions under which REDD+ achieves environmental additionality in Tanzania.
Carbon Sequestration --- Climate Change --- Climate Change and Environment --- Climate Change Mitigation and Green House Gases --- Development --- Environment --- Environmental Economics & Policies --- Forestry --- Institutions --- Rural Development --- Wildlife Resources
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Capital markets have been a source of funding for green investments for a number of years, but until recently, financing was predominantly from equity. Private equity, venture capital, and government funding were the most accessible sources of capital when green technologies such as solar and wind were in early stages of development. More recently, as these technologies have been tested, proven, and refined, funders have naturally progressed along the capital structure towards public equity and debt financing to support growth and scale. At the same time, leading financial institutions have provided impetus for expanded green investing. International Finance Corporation (IFC) and the Kellogg School of Management have collaborated to author this paper which attempts to cover the bounty of credit tools available for harvesting by issuers and sponsors, with the aim of attracting new investments to green industry. This paper is the first in a series to proffer avenues to enhance the financial environment towards addressing this gap. This paper presents a brief overview of efforts that can circumvent these barriers by introducing a mix of innovative products to attract different kinds of fixed income investors and draw more private capital into funding green technologies.
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The pattern of global land use has important implications for the world's food and timber supplies, bioenergy, biodiversity and other eco-system services. However, the productivity of this resource is critically dependent on the world's climate, as well as investments in, and dissemination of improved technology. This creates massive uncertainty about future land use requirements which compound the challenge faced by individual investors and governments seeking to make long term, sometimes irreversible investments in land conversion and land use. This study assesses how uncertainties associated with underlying biophysical processes and technological change in agriculture affect the optimal profile of land use over the next century, taking into account the potential irreversibility in these decisions. A novel dynamic stochastic model of global land use is developed, in which the societal objective function being maximized places value on food production, liquid fuels (including bio-fuels), timber production, and biodiversity. While the uncertainty in food crop yields has anticipated impact, the resulting expansion of crop lands and decline in forest lands is relatively small.
Climate Change --- Climate Change and Environment --- Climate Change Mitigation and Green House Gases --- Crop Yields --- Dynamic Stochastic Models --- Environment --- Environment and Energy Efficiency --- Environmental Economics & Policies --- Forestry --- Global Land Use --- Rural Development --- Uncertainty
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