Public Disclosure Copy The World Bank Implementation Status & Results Report Market Instruments for climate change mitigation in Chile (P130378) Market Instruments for climate change mitigation in Chile (P130378) LATIN AMERICA AND CARIBBEAN | Chile | Energy & Extractives Global Practice | Recipient Executed Activities | Specific Investment Loan | FY 2015 | Seq No: 3 | ARCHIVED on 13-Dec-2016 | ISR25938 | Implementing Agencies: Ministry of Energy Key Dates Key Project Dates Bank Approval Date:27-Aug-2014 Effectiveness Date:05-Sep-2014 Original Closing Date:04-Sep-2017 Revised Closing Date:04-Sep-2017 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objectives of the Project are to provide technical assistance to the Beneficiary in the design and implementation of a Monitoring, Reporting and Verification (MRV) framework and registry, and the design and preparation of one or more carbon pricing instruments in the energy sector. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Moderately Unsatisfactory  Moderately Satisfactory Implementation Status and Key Decisions The Project is under implementation and as of November 2016 most of the consultancies have already been awarded. 12/13/2016 Page 1 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Market Instruments for climate change mitigation in Chile (P130378) 12/13/2016 Page 2 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Market Instruments for climate change mitigation in Chile (P130378) Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall  Low  Low  Low Results Project Development Objective Indicators PHINDPDOTBL One or more carbon pricing instruments and associated infrastructure recommended to the Government and concrete activities to develop specific elements proposed (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 PHINDPDOTBL MRV framework and registry established within the energy sector (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target 12/13/2016 Page 3 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Market Instruments for climate change mitigation in Chile (P130378) Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments Although the registry has been established, the MRV framework is still under development. PHINDPDOTBL Knowledge, awareness, and capacity developed in the public and private sector in relation to the design and implementation of carbon pricing instruments. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N Y Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments The Project held a very successful technical workshop -Regional Perspectives for the Implementation of Carbon Pricing-, as well as a Carbon Pricing Leadership Coalition (CPLC) in June that included the participation of President Bachellet. Both events helped raise awareness within national stakeholders, including public and private sector, civil society and NGOs, as well as academia. Overall Comments Intermediate Results Indicators PHINDIRITBL Regulatory Analyses for carbon pricing mechanisms in Chile (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 12/13/2016 Page 4 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Market Instruments for climate change mitigation in Chile (P130378) PHINDIRITBL Economic Analysis for carbon pricing mechanisms in Chile (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments Assessment is underway. PHINDIRITBL Institutional Analysis for carbon pricing mechanisms in Chile (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments The institutional assessment is underway and should be completed in the next 2 months. PHINDIRITBL Design and Implementation of MRV system (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments The consultancy has been awarded. 12/13/2016 Page 5 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Market Instruments for climate change mitigation in Chile (P130378) PHINDIRITBL Design and implementation of a bottom up registry (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments The consultancy is underway and should be completed by May 2017. PHINDIRITBL Development and execution of a stakeholder and communication strategy (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments The consultancy is underway and the team is coordinating with the technical consultancies of component 1 and 2. PHINDIRITBL Participation of public and private stakeholders in trainings and country visits (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N Y Y Date 04-Sep-2014 12-May-2016 07-Nov-2016 04-Sep-2017 Comments Through the 2 events held in June, many public and private stakeholders participated in understanding the key challenges Chile as well as other countries are facing in terms of implementing carbon pricing mechanisms, and lessons learned on experiences on how to overcome key barriers. Overall Comments Data on Financial Performance Disbursements (by loan) 12/13/2016 Page 6 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Market Instruments for climate change mitigation in Chile (P130378) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P130378 TF-17731 Effective USD 3.00 3.00 0.00 0.74 2.26 25% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P130378 TF-17731 Effective 27-Aug-2014 05-Sep-2014 05-Sep-2014 04-Sep-2017 04-Sep-2017 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/13/2016 Page 7 of 7 Public Disclosure Copy