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Marshall Islands

Taking Action on Climate Change for the Youth of the World

Lachlan Hoyle's picture
© Conor Ashleigh

The risks created by climate change are well known. Regardless of political views, when the majority of respected and leading science institutions say that climate change is happening, I believe that we have a problem. 

From a young person’s perspective, I do not want to inherit a world that is torn apart by an issue that could have been minimized if we all took action. I don’t want a world that is destroyed by inaction and pointless bickering. If we continue to do nothing, or not enough, we will all be living in a world that could have been prevented. Inaction will tear our world apart.

East Asia and Pacific countries can do better in labor regulation and social protection

Truman Packard's picture

Those unfamiliar with the fast growing emerging economies of East Asia are likely to think that governments in these countries let market forces and capitalism roam free, red in tooth and claw. That was certainly my impression before coming to work in the region, and generally that held at the outset of our work by the group of us that wrote a new World Bank report “East Asia Pacific At Work: Employment, Enterprise and Wellbeing” .

The report shows just how wrong we were. We could be forgiven this impression—many of us had come from assignments in Latin America and the Caribbean or in Europe and Central Asia, where the distortions and rigidities from labor regulation and poorly designed social protection are rife, and where policy makers cast envious looks at the stellar and sustained employment outcomes in East Asia.

Well, it turns out that although they came relatively late to labor regulation and social protection, many governments in the region have entered this arena with gusto. We were surprised to find that, going just by what is written in their labor codes, the average level of employment protection in East Asia is actually higher than the OECD average.

A Fragile Country Tale: Restrictions, Trade Deficits, and Aid Dependence

Massimiliano Calì's picture

 Masaru Goto, World BankPart of the World Bank’s new vision is to step up its efforts to help fragile and conflict-afflicted states break the vicious cycle of poverty. But this is no easy task.
 
The destruction of productive assets and the restrictions on the capacity to produce are among the most severe economic impacts of conflicts and fragility. These effects explain why countries in conflict or emerging out of conflict typically have very large trade deficits. The productive sector is often particularly weak by international standards, so exports are low and domestic consumption has to rely on imports. Indeed, five of the ten countries with the largest trade deficit in the world (Timor-Leste, Liberia, the Palestinian territories, Kosovo and Haiti) are considered fragile by the World Bank and other regional development banks (figure 1).
 

Notes From the Field: Taking On Politics, Shifting Paradigms

Miles McKenna's picture

Editor's Note: "Notes From the Field" is an occasional feature where we let World Bank professionals conducting interesting trade-related projects around the globe explain some of the challenges and triumphs of their day-to-day work. The views expressed here are personal and should not be attributed to the World Bank. All interviews have been edited for clarity.

The interview below was conducted with Manjula Luthria, a Senior Economist in the World Bank’s Middle East and North Africa (MENA) regional division of the Human Development Network. Ms. Luthria's work focuses migration, labor mobility, and social protection. She spoke with us about her early experiences as a country economist for the Pacific Islands region, and how lessons learned there have come to inform the programs and projects her unit works on today.
 

Innovation and Insurance: Protection Against the Costs of Natural Disaster

Olivier Mahul's picture



Natural disasters – such as tsunamis, earthquakes, cyclones and floods – are costly to society, in terms of both human destruction and financial losses. Governments ultimately bear the full cost of the havoc wreaked by natural disasters, which can create an enormous strain on limited government budgets, especially in developing countries. This is even before we begin to contemplate the development impact and how the poorest of the poor are disproportionately affected.

Just last week, the world saw the widespread damage that the St. Jude storm inflicted across Europe, and we witnessed its effect on hundreds of thousands of people. Most advanced economies, however, have sufficient capacity to be able to absorb the financial losses inlicted by natural disasters. Higher-income countries enjoy (relatively) efficient public revenue systems and developed domestic insurance markets.



By contrast, developing countries do not have the same degree of access to financial and insurance markets. They face limited revenue streams, limited fiscal flexibility, and limited access to quick liquidity in the wake of an event. This is particularly so for Small Island Developing States (SIDS), such as the Pacific island nations.

The Pacific Islands Forum Responds to Climate Change

Axel van Trotsenburg's picture


I am here this week in Majuro in the Marshall Islands – where leaders from the Pacific Island Forum have gathered to discuss the impacts of climate change and to push for global action to mitigate the effects.

Here in the Marshall Islands, the highest point above sea level is only 3 meters.

In May this year, an unprecedented drought in the northern atolls of the Marshall Islands left many without enough food and water.

An Accounting System Worthy of Earth Day: Natural Capital Accounting

Rachel Kyte's picture
When presidents, prime ministers, and government ministers of more than 60 nations put their countries’ names behind natural capital accounting last year at Rio+20, something shifted. Countries wanted a better way of measuring progress that went beyond GDP and factored in nature and its services.

Clearly that was no flash in the pan. Last week, I chaired a high-level ministerial dialogue on the margins of the IMF-World Bank Spring Meetings where government ministers and senior representatives of more than 40 countries came together to compare notes on how natural capital accounting is working for them.

Country after country – represented by finance, development, or environment ministers – talked about how natural capital accounting fit their countries’ priorities and how it could be a tool to address some of their key policy challenges. With each statement from the floor, it was clear that natural capital accounting is no longer an academic concept. It is alive and well and being utilized across the world in developing, middle, and high-income countries.

Small Island States Set Ambitious Energy Agenda for Rio+20

Vivien Foster's picture

Photo Credit: Wikimedia Commons, Lee Siebert (Smithsonian Institution) Freshwater Lake (L'Etang) lies in the moat between Micotrin lava dome and the eastern wall of the Wotten Waven caldera, partially visible in the background. The 7 x 4.5 x wide caldera is elongated in an SW-NE direction, and it extends on the SW to near the capital city of Roseau. The two coalesced lava domes of Micotrin straddle the NE rim of the caldera. Strong geothermal activity persists in the caldera, the most prominent of which lies near the village of Wotten Waven along the River Blanc and contains numerous bubbling pools and fumaroles.The Small Island Developing States, or SIDS, include 52 countries spanning the Caribbean, Atlantic, Indian and Pacific Oceans, as well as the South China and Mediterranean Seas. They range from low-income countries such as Haiti to high-income countries like Barbados and Singapore.

Despite their diversity, many of them have a challenge and irony in common.  Being small, often remotely-located,  and usually without domestic fossil fuel reserves, these countries rely on imported fossil fuels for their energy, and bear the brunt of high and volatile  oil prices.  The irony is that many of these same islands have abundant renewable energy resources, including wind, solar, hydro and geothermal. And many are at sea-level, vulnerable to sea-level rise provoked by climate change, and highly-sensitized to the urgency of making a transition to a greener economy—a transition that would reduce their exposure to petroleum price shocks and hikes.