Consider this: By the time you had breakfast this morning, the world’s urban population grew by some 15,000 people. This number will increase to 180,000 people by the end of the day and to 1.3 million by the end of the week. On a planet with such a vast amount of space, this pace of urbanization is like crowding all of humanity into a country the size of France.
Cities are where most of the world’s population lives, where more and more of population growth will occur, and where most poverty will soon be located.
But why do so many people choose cities? Poor people constantly pour into Rio de Janeiro and Nairobi and Mumbai in search of something better. The poorest people who come to cities from other places aren’t irrational or mistaken. They flock to urban areas because cities offer advantages they couldn’t find elsewhere. The poverty rate among recent arrivals to big cities is higher than the poverty rate of long-term residents, which suggests that, over time, city dwellers’ fortunes can improve considerably.
A few months ago, I had a chance to visit the Panama Canal, which celebrated its 100th anniversary last year. It is truly a mega-structure that is the largest infrastructure project of its time.
When I saw it, what struck me the most was - “How could this be possible”? One hundred years ago, Panama was a country that was just formed and capital markets were not very well-developed. And technology was obviously not as advanced as it is today.
Fast forward 100 years, in the world today, Asia has a huge demand for infrastructure. In Singapore, we know of Hyflux, which has one of the largest desalination plants in Singapore. Sembcorp Utilities has a power plant project in Bangladesh recently and PSA has a port in Guangxi China. These are just some examples of Singapore companies who have gone into infrastructure development. Yet, not enough projects have been implemented, especially in Asia.
Can we end extreme poverty in a world with extreme inequality? That question inspired a spirited debate in English and Spanish on Oct. 7, just ahead of the World Bank Group-IMF Annual Meetings in Lima, Peru, addressing corruption, taxation, discrimination against women, and the need to even the playing field for the younger generation.
Latin America’s experience with inequality was front and center at the live-streamed event, Inequality, Opportunity, and Prosperity, featuring World Bank Group President Jim Yong Kim, Ibero-American Secretary General Rebeca Grynspan, Oxfam International Chair Juan Alberto Fuentes Knight, and moderated by CNN Español news anchor Patricia Janiot.
The economic slowdown in Latin America and the Caribbean is putting pressure on workers and wages and forcing some people out of the labor force, according to a new report released during a live-streamed event of the same name, “Jobs, Wages, and the Latin American Slowdown,” in the lead-up to the World Bank Group-IMF Annual Meetings in Peru.
“A lot of women joined the labor force in the good times. Now, in the slowdown, people are exiting the labor force — men and youth with little education. This is good news if they’re going to university, but bad if they’re going to live with their parents and be idle,” said Augusto de la Torre, the World Bank’s chief economist for Latin America and the Caribbean.
Moreover, the “exit of youth from the labor force will affect poor families more than wealthier ones – inequality could become greater,” said de la Torre.
The festival criteria read that “by screening a diverse selection of high quality films that deal with pressing issues, and by organizing discussion panels with environmental experts, filmmakers and other stakeholders, the Festival seeks to promote dialogue and inspire Dominican viewers to adopt practices that will ensure the country’s environmental sustainability and health.” For a small Caribbean nation to take these issues seriously and attempt to educate its people using cinema was indeed commendable.
What I witnessed on landing in Santo Domingo was truly remarkable. There were filmmakers from all over the world, but also organizers of similar festivals from other countries. That is when I realized that environmental film festivals have now become a global movement with the intention of informing, influencing, and galvanizing people on critical environmental issues. While the first “environmental” films were produced back in the 1960s when the global environmental movement was in its infancy, there are now 30 or more international environmental film festivals held all over the world attracting hundreds of films and thousands of people. They cover issues such as clean water, sanitation, forests, biodiversity, sustainable consumption and climate change. Even more remarkable, most of these short films or documentaries are often produced on a shoe-string budget, but with an enormous degree of passion and perseverance to get the message across. What really impressed me was that although they dealt with critical issues facing us today, in most cases the messages were of hope and optimism!
I want to share with you some of the films that I watched:
Fifteen years from now, will you remember where you were when the UN General Assembly adopted the Sustainable Development Goals (SDGs)?
Friday, September 25, 2015 may not be one of those days that the general public will remark on, but it is a milestone in development history. The SDGs set a new and ambitious agenda that we at the World Bank Group, together with our partners, will work to achieve along with our own goals of ending poverty and boosting shared prosperity by 2030.
During his visit to Washington last week, China’s President Xi Jinping confirmed that the world’s largest greenhouse gas emitter, which has pledged to reduce its carbon intensity and reach a peak of overall emissions by 2030, will use a cap-and-trade market approach to help realize this.
China already has 7 pilot markets in cities and provinces in place that cover 1 billion tons of greenhouse gas emissions annually. Under the national scheme, now to go live in 2017, this could increase to 4 billion tons according to Chinese researchers - making it the world’s largest national emissions trading system.
It’s an exciting step and demonstration of China’s commitment to achieve its low carbon goals.
Many of my compatriots in Poland, where over 90 percent of power generation comes from burning coal, are concerned that the EU climate policy is a risky outlier.
They worry that the EU Emissions Trading System may expose domestic industry to unfair competitition and cause companies to move production to countries where emission costs are lower, something called “leakage”.
The two reports recently released by the World Bank may change this perception.
This week, the World Bank Group released the latest version of our annual State and Trends of Carbon Pricing report. It reports that today,
This represents the equivalent of about 7 billion tons of carbon dioxide, or 12 percent of annual global greenhouse gas emissions.