More than 180 countries have submitted their intended national climate plans to get on a low-carbon development pathway ahead of COP21 climate talks, now underway in Paris.
Called the Intended Nationally Determined Contributions (INDCs), most include mitigation targets to be implemented by 2025 or 2030. But these plans are not just about numbers. Many of them, particularly those put forward by developing countries, also propose climate actions within the countries’ overall development framework, including adaptation. Hardly surprising, as after all, tackling climate change is about effectively managing a country’s economy.
This certainly seems to be the case for China.
Europe and Central Asia
They are escaping abusive husbands, parents, in-laws, or siblings. Their stay ranges from three months to a year, and apart from shelter and food, residents have access to a dedicated team of lawyers, counselors, social workers, and health care professionals. Perhaps more importantly, they encounter others who have also escaped violence and sought alternative lives for themselves.
These women are the lucky and courageous ones. Those who dared to make that phone call to seek help. Those who risked breaking the silence in spite of family, religious and community norms. Those who were listened to by the police, who had a ‘strong enough’ case to obtain official ‘victim’ status. This status ensured them a room in the shelter.
But the majority of women never call.
Investing in people starts by ensuring that graduates leave school with strong basic/foundational skills, such as in reading and mathematics. Such skills are critical for subsequent study, for quickly finding a first job, and for adapting to continuous technological change. But are countries in the EU ready to face that challenge?
In the early to mid-1990s, the Moldovan Government often didn’t pay pensions on time – sometimes they were up to two years late. And, they were often paid in-kind. This situation was a syndrome of the trials and tribulations that the country was experiencing in its tumultuous transition to a market economy.
Reform of the pension system was initiated in the late ‘90s to try to fix some of the more pressing challenges by restoring fiscal balance and helping put payments on a sustainable track – essentially meaning that payments were now made in cash, rather than in galoshes or umbrellas.
Similar to Moldova’s protracted transition to a free market, however, the reform of the country’s pension system is largely a story of “unfinished business”. One important reason for this is that the 1998 pension reform envisaged a phased increase in the retirement age up to 65 years for both men and women, and clear linkages between salary contributions and pension payments. This aimed to motivate Moldovans to participate in the system, but after a few years of implementation, the gradual increase in retirement age was put on hold. And, because the retirement age didn’t increase, the planned increase in the value of pensions was put on hold too.
Today, a group of 26 financial institutions from across the globe, including the World Bank Group, launched five voluntary Principles for Mainstreaming Climate Action within Financial Institution. The Principles are meant to support and guide financial institutions moving forward in adapting to and promoting climate-smart development, and have been developed based on practices implemented by financial institutions worldwide over the last two decades.
The enchanting city of Saint Petersburg, Russia, boasts the canals of Venice, the cathedrals of Paris, the architecture of Stockholm, and the non-stop festival atmosphere of white nights in July and August. It is Russia’s second largest city, with around 4 million people and a bustling economy. Saint Petersburg has also learned hard-won lessons in public-private partnership (PPP) creation and implementation, including:
Lesson 1: Start with the basics
Saint Petersburg started with very big, very bold PPP projects, like a €6 billion toll road and a €1 billion tunnel, followed by a €1 billion light rail line and a €1.2 billion airport expansion. The toll road and tunnel came to bid in late 2008, mid-financial crisis—leading to Lesson 1a: Timing is everything. But rather than get discouraged, the city restructured the tunnel, flipping it around so that the concessionaire finalized the design first, thereby delaying the search for financing until the markets could recover. The toll road bid process was cancelled and the project broken up (more on this later). The light rail project was also restructured to fit with evolving ridership in the city. The airport, the last project to be launched, was the first to reach financial close, so here we simply note that hard currency revenues and an existing asset and revenue stream are convenient advantages when financial markets are lean. Lesson 1b: Roll with the punches.
The investment needs for low-carbon, climate-resilience growth are substantial. Public resources can bridge viability gaps and cover risks that private actors are unable or unwilling to bear, while the private sector can bring the financial flows and innovation required to sustain progress. For this partnership to reach its full potential, investors need to be provided with the necessary signals, enabling environments, and incentives to confidently invest in emerging economies.
In Europe, the year 2015 will be remembered as the year of the “refugee crisis.” Hundreds of thousands of refugees have crossed treacherous waters and borders to flee war and persecution in Syria and the wider Middle East and Africa in search of protection in the European Union. Transit and destination countries have been struggling to manage the refugee flow and to register and shelter the new arrivals. At the same time, the EU is debating how best to tackle the sources of forced displacement and is stepping up support to Turkey, Jordan, and Lebanon, who host the lion’s share of Syrian refugees. But largely missing from the frenetic activity so far, except in Germany, has been a thorough discussion of the next step: how to manage the integration of refugees in host countries beyond the initial humanitarian response of shelter and food.
The countdown is now well and truly onto to the Paris climate change talks in France.
A key factor in the talks will be the national plans, known as the INDCs - Intended Nationally Determined Contributions – submitted to the UN ahead of the Paris conference. They are important building blocks for reaching a final agreement.
Given that emissions from land use contribute significantly to climate change, it’s important to note many countries have included the land sector, which covers sustainable agriculture and forestry, as a key part of their approach to mitigating climate change.
A study group from Moscow and five regions of Russia recently visited Canada and the US to learn more about initiatives in those two countries and to bring discussion about financial issues into the classroom – with the idea of turning today’s students into active and responsible citizens of the future, able to make well-informed personal financial decisions and to engage in discussions about public finances on behalf of themselves and their communities.