TRUSTEE PRESENTATION: UPDATE ON STATUS OF RESOURCES AND CER - - PDF document

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TRUSTEE PRESENTATION: UPDATE ON STATUS OF RESOURCES AND CER - - PDF document

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AFB/B.34/Inf.4 10 October 2019 Adaptation Fund Board Thirty-fourth meeting Bonn, Germany, 10-11 October 2019 TRUSTEE PRESENTATION: UPDATE ON STATUS OF RESOURCES AND CER MONETIZATION ADAPTATION FUND TRUST FUND Update on Status of Resources and

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AFB/B.34/Inf.4 10 October 2019 Adaptation Fund Board Thirty-fourth meeting Bonn, Germany, 10-11 October 2019

TRUSTEE PRESENTATION: UPDATE ON STATUS OF RESOURCES AND CER MONETIZATION

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ADAPTATION FUND TRUST FUND Update on Status of Resources and CER Monetization

Prepared by the World Bank as Interim Trustee of the Adaptation Fund AFB 34 October 2019

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New Donations received (paid): USD mn

  • Brussels Capital Region

0.53

  • Ireland

0.34

  • Italy

7.92

  • France

17.06

  • Germany

79.64

  • Quebec (Province of)

2.24

  • Sweden

5.47

  • Walloon Region

4.48

Highlights of Trustee activities During FY2019

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Additional donations signed since 30 June 2019:

  • Sweden SEK520 over 4 years (2019-22) (approx. USD

53mn)

  • New Zealand (USD 1.97mn)

New donations under discussion/preparation:

  • Poland
  • Switzerland
  • Spain
  • EC

Highlights of Trustee activities (cont’d)

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Summary:

  • USD 119.65 mn new donations received in AF Trust Fund
  • CER sales: USD 2.02 mn during FY2019
  • Investment Income: 1.30% return to date in CY2019.

Funding Available for new decisions at 30 June, 2019: USD 265.06 million

Highlights of Trustee activities (cont’d)

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Inflows from inception to June 30, 2019 (USD millions)

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CER proceeds, 201.42, 23% Donations, 657.93, 74% Investment Income, 27.76, 3%

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Funding Decisions: inception to June 30, 2019 (USD millions)

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MIEs, 317.57, 51% NIEs, 176.26, 29% RIEs, 70.36, 11% Admin Exp., 54.85, 9%

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Cash transfers to IEs (cumulative) (USD millions)

50 100 150 200 250 300 350 400

Jun-16 Sep-16 Dec-16 Jun-17 Sep-17 Dec-17 Jun-18 Dec-18 Jun-19

Cash transfers for projects Mar-Jun 2019: USD 15.1 mn

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Funds available for new Board approvals (USD millions)

168.55 151.81 234.42 185.9 165.3 216.98 192.7 273.49 265.06 50 100 150 200 250 300 Jun-16 Sep-16 Dec-16 Jun-17 Sep-17 Dec-17 Sep-18 Dec-18 Jun-19

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Investment Returns On AF Funds Held in Trust

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*non-annualized

0.46% 0.32% 0.25% 0.29% 0.31% 0.28% 0.22% 0.54% 1.33% 2.17% 1.30% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5%

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Adaptation Fund Trustee

The World Bank

CER monetization summary

Inception May 2009 – Feb, 2019 Jan Sep 2019

CER sales volume (Thousands) CER sales proceeds (USD Thousands) Average CER sales price (USD/ton) OTC 17,916 116,587 6.5 Exchange 10,715 83,403 7.8 Auction 200 3,568 17.8 Total 28,831 203,557 7.1 CER sales volume (Thousands) CER sales proceeds (USD Thousands) Average CER sales price (USD/ton) OTC 1,696 3,033 1.8

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Adaptation Fund Trustee

The World Bank

CER monetization summary

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Adaptation Fund Trustee

The World Bank

CER monetization strategy

Continue with OTC transactions, with focus on non EU-ETS markets

  • Recently developed ETS & Carbon tax schemes (i.e.

Korea and Colombia) - limited project eligibility, but higher prices.

  • Climate neutrality drive – CER purchase from UN
  • rganizations.
  • Other carbon tax scheme(s) in development.

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Roadmap

For additional information:

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