*A version of this post was originally written for KPMG's Insight Magazine. The content/data has since been updated for this blog post.
Social media is both a driver and an enabler of change. It is beyond simply a broadcasting platform, and individuals and organizations that recognize this are the ones that are truly able to harness its power. Social media drives conversations about infrastructure; it amplifies social reaction and sentiment; it encourages transparency and empowers individuals. Simply put, social media should not be ignored. So here is what you need to know.
The World Region
Last Saturday, tens of thousands of people gathered on the Washington D.C. mall for the March for Science alongside hundreds of sister marches around the world to coincide with Earth Day. Climate change and environmental protection were high on the agenda as the planet continues to warm and countries confront an increasing number of extreme weather events.
Meanwhile, down the road at the Inter-American Development Bank (IDB), the 2017 Global Infrastructure Forum was in full swing, discussing how to deliver inclusive and sustainable infrastructure to ensure we achieve the objectives of the Paris Agreement and the Sustainable Development Goals (SDGs).
Prices for most industrial commodities, notably energy and metals, are projected to rise in 2017 while agricultural prices are expected to remain stable, the World Bank says in its April 2017 Commodity Markets Outlook.
Closely watched crude oil prices are forecast to rise to an average of $55 per barrel (bbl) over 2017 from $43/bbl in 2016, climbing to $60/bbl next year. The forecast is unchanged since October and reflects the balancing effects of production cuts agreed by the Organization of Petroleum Exporting Countries (OPEC) and other producers on one side and a faster-than-expected rebound in the U.S. shale oil industry on the other. World oil demand is growing strongly, although at a slower pace than the 2015 spike triggered by lower oil prices.
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People think fast and often automatically, respond strongly to social incentives, and use mental models or specific worldviews to interpret information and perceptions. So, shouldn’t we be taking into account their thinking and behaviors while designing policies?
Globally, there are over 98 mobile subscriptions per 100 people, so the chances are, you have a cell phone. Now look at your recent calls, both sent and received: Who do you call most often? Who calls you the most? Do you send, or receive more calls? All this is cell phone metadata: not the content of the calls, but ancillary information, the “who, where and when”.
It’s information that can reveal a lot about you. Your cellphone carrier already uses it to bill you, and may also be using it to target marketing or special offers at you. And with appropriate privacy protections, it can offer researchers a similar opportunity. In this week’s episode of Between 2 Geeks we ask how cellphone metadata (“call detail records”) can help researchers understand entire societies.
This blog is part of a series using data from World Development Indicators to explore progress towards the Sustainable Development Goals and their associated targets. The new Atlas of Sustainable Development Goals 2017, published in April 2017, and the SDG Dashboard provide in-depth analyses of all 17 goals.
Investing today is important for economic growth tomorrow: working hard today to build more and better schools, clinics, roads, bridges, parks, factories, offices, houses and other infrastructure will improve both economic output and living standards in the future. Investing sustainably is especially crucial for Least Developed Countries (LDCs) if they are to achieve the 7 percent growth target (8.1) set by the 2030 Agenda of the Sustainable Development Goals (SDGs).
Yet investing for the future means saving more and consuming less today. For every worker building roads and factories that will be used tomorrow, there is one fewer worker producing goods and goodies to be consumed today. For every dollar a family saves, that is one fewer bottle of coke or bag of rice to be consumed today.
Building up assets…
Between 2001 and 2015, LDCs invested an average of 22 percent of their Gross National Income (GNI), while the global average was 23 percent and the OECD average 21 percent. This translates to between a fifth and a quarter of today’s production being invested for the future, rather than being consumed now.
Much LDC investment is self-financed. Over the same period, domestic savings in LDCs averaged over 16 percent of GNI. This is lower than the global savings rate (of 25 percent of GNI) but this is to be expected as capital and investment flows in from wealthier countries. It gives LDCs the chance to increase their capital stock while keeping a reasonable degree of consumption.
Last week, on April 20th, Matt Damon, co-founder of Water.org, addressed ministers of finance, water, and sanitation from across the world at the Sanitation and Water for All (SWA) Finance Ministers’ High Level Meeting at the 2017 World Bank-IMF Spring Meetings. The meeting focused on finding ways to fill the enormous financing gap via innovative financial solutions. Mr. Damon urged ministers to consider the full breadth of financing options to achieve the goal of providing safe, affordable, and sustainable water and sanitation for all.
“Inclusive growth” has been at the forefront of policy discussions in OECD and non-OECD economies. These discussions reflect a concern that economic growth does not necessarily improve the welfare of all citizens as income inequalities have risen to unprecedented levels over the past decades. The richest 10% of the population in the OECD area earn almost ten times more than the poorest 10%.
Throughout history, innovation has been the main engine of improved living standards and the current period of digital innovation offers similar opportunities. At the same time, periods of substantial technological change are known to be highly disruptive as new technologies render old technologies obsolete. This process creates winners but also losers within and across countries.
But where does data come from? And what’s really going on behind the scenes to arrive at these all-important numbers? A new PBS documentary called The Crowd and the Cloud brings data to life by showing us the real lives behind the data points and the hard work that it takes to turn a human story into a statistic.
Hosted by former NASA Chief Scientist Waleed Abdalati and written and produced by Geoff Haines-Stiles (Senior Producer of COSMOS with Carl Sagan), The Crowd and the Cloud is a four-part documentary that examines the rapidly growing field of citizen data science, showing how regular citizens are increasingly able to gather and share valuable data on the environment, public health, climate change, and economic development.
Episode 4: Citizens4Earth follows Talip Kilic from the World Bank’s Living Standards Measurement Study program as he travels to far-flung rural communities in central and southwestern Uganda, along with the survey teams for the Uganda National Panel Survey (UNPS). In the episode, James Muwonge (Director of Socioeconomic Surveys at the Uganda Bureau of Statistics) explains why household surveys like the UNPS are so important for investment decisions and policy-making, particularly in developing countries like Uganda.
half lacked sufficient data for measuring poverty between 2002 and 2011. In response, the World Bank has committed itself to reversing this dismal state of affairs: in October 2015, World Bank President Jim Yong Kim announced that the Bank would support the 78 poorest countries in conducting an LSMS-type household survey every 3 years.and the Bank’s twin goals of ending global extreme poverty by 2030 and boosting shared prosperity. However, we still face significant challenges around the world in terms of data availability - among the 155 countries for which the World Bank monitors poverty data,
Global emissions of carbon dioxide, a major greenhouse gas and driver of climate change, increased from 22.4 billion metric tons in 1990 to 35.8 billion in 2013, a rise of 60 percent. The increase in CO2 emissions and other greenhouse gases has contributed to a rise of about 0.8 degrees Celsius in mean global temperature above pre-industrial times.