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Adaptation

Climate finance: The public sector can't do this alone

Christian Grossmann's picture
A World Economic Forum event at COP20 brought together public and private sector leaders to discuss carbon pricing. Carlos Molina/World Bank
A discussion on carbon pricing at COP20 brought together executives from Unilever, pension fund AP4, and the BVRio Environmental Exchange, and officials from California, South Korea, and the World Bank Group. Carlos Molina/World Bank


​We’re doing a lot of talking and listening here at COP 20 in Lima about climate finance – how hundreds of billions of dollars were invested globally last year to clean up the air, get efficient energy to more people, make agriculture more productive, and build resilience to extreme weather events.

We all know and acknowledge much more still needs to be done – the International Energy Agency and others believe we need at least $1 trillion dollars of new investment each year to address climate change.

There’s no way that public money alone can meet that goal. We need to find ways to catalyze the limited public funds we have to unlock private investment. That, of course, means investors need to have the confidence that the right policies are in place to make long-term investments for the climate.

Merging the Two Sides of Climate Action, with a Little Help from Dumbledore

Sameer Akbar's picture
Dr. Pachauri's speech at the Robert Goodland Memorial Lecture

Listening to Dr. RK Pachauri deliver the first Robert Goodland Memorial Lecture at the World Bank last month, I could not help thinking of Dumbledore – the very wise headmaster of Hogwarts, the school where the drama in Harry Potter’s life unfolds. If only Pachy, as his friends call him, had Dumbledore’s magical powers, climate change would not be a problem. Alas, he is only human. But a very wise and accomplished one who heads the IPCC that just issued its fifth assessment report on climate change, and that is what he focused his lecture on.

Two things stuck in my mind as I listened to him.

Thousands Join the MOOC on Climate Change

Peter Schierl's picture

 

More than 10,000 people from around the world have already signed up for the World Bank Group’s first MOOC (Massive Online Open Course) on climate change, an initiative that appears to be tapping into a younger-than-usual audience than our e-courses usually get.

We’ve been excited to see this participant data because we know that for the world to effectively be able to address climate change, young people must be well-informed and engaged. We’re also pleased that most people who registered so far come from developing nations – and that many are joining an e-course for the first time.

The MOOC course, titled Turn Down the Heat: Why a 4°C Warmer World Must be Avoided, is based on a recent research report with the same name that the Bank commissioned from the Potsdam Institute for Climate Impact Research.

The course kicks off Monday, January 27, and will be delivered on an online platform hosted by Coursera, an education company that partners with top universities and organizations to offer courses for free.

Why We Must Engage the Private Sector in Climate Change Adaptation Efforts

Alan Miller's picture

 Lauren Day/World Bank

Late last month, I retired after spending more than 30 years in the climate arena, the last decade as a principal climate change specialist at the International Finance Corporation.

During the span of my career, climate change has moved from the sidelines to be recognized as a serious development challenge. And while we’re still far from achieving the international commitments needed to avoid potentially dangerous and even catastrophic climate events, much has been accomplished.

Scientists have reached near-consensus about climate change and its impacts. We’ve also seen the creation of several significant donor-supported climate funds, as well as a steady increase in policy and financial support for climate-friendly technologies.

In one critical respect, however, we need more progress: making the private sector a partner in helping nations build resilience and adapt to climate change.

The Old Man is Snoring

Dan Hoornweg's picture

Flooding in Bangkok‘It’s raining, it’s pouring. The old man is snoring.’ Truth be told, I apparently snore, and I suppose I’m not that young anymore. But hard to believe, I’m sure this nursery rhyme is not about me. And despite the recent Noah-like floods in Europe, Bangkok, Calgary, Dhaka, Jakarta, New York and Toronto, it’s not really about any one city, or any one country, or even any one continent. But, ‘went to bed and bumped his head. And won’t get up in the morning,’ aptly describes our current political paralysis.

Many children know this song. Soon they will learn how their grandfathers and fathers slept through the rain.

Here in troubled Toronto and gritty Calgary, there was the inevitable debate on whether or not the recent floods could be attributed to climate change. ‘If it’s this bad now, what’s the future hold?’ people wondered. ‘Sleepwalking into trouble,’ came to mind for many.

New Climate Report Emphasizes Urgency

Jane Ebinger's picture

 Wutthichai/Shutterstock

Bangkok is a vibrant, cosmopolitan city, home to more than eight million people. However, a new report released by the World Bank today paints a grim picture for the Thai capital. It notes that, without adaptation, a predicted 15cm sea-level rise by the 2030s coupled with extreme rainfall events could inundate 40% of the Thai capital and almost 70% of Bangkok by the 2080s. While I certainly hope it doesn't happen, words cannot describe the impact this would have on the lives and livelihoods of people residing in this city.  And Thailand isn’t the only country that could be affected by rising temperatures. 

The report - Turn Down the Heat:  Climate Extremes, Regional Impacts, and the Case for Resilience - was commissioned by the World Bank’s Global Expert Team on Climate Change Adaptation and prepared by a team of scientists at the Potsdam Institute for Climate Impact Research and Climate Analytics. It looks at the latest peer-reviewed science and with the aid of advanced computer simulations looks at the likely impacts of present day (0.8°C), 2°C, and 4°C warming across three regions – Sub-Saharan Africa, South Asia, and South East Asia. It focuses on the lives and livelihoods of people in the developing world by analyzing the risks to agriculture and food security in sub-Saharan Africa; the rise in sea-level, bleaching of coral reefs and their impact on coastal communities in South East Asia; and the impact of fluctuating rainfall patterns on food production in South Asia. The poor and the vulnerable are the ones that will be most affected by the impacts of climate change.

Grassroots Leaders: Empowering Communities is Resilience Building

Margaret Arnold's picture

 Margaret Arnold/World Bank
Participants at the first Community Practitioners Academy meeting, which was held ahead of the Fourth Global Platform for Disaster Reduction in Generva. - Photos: Margaret Arnold/World Bank

Communities are organized and want to be recognized as partners with expertise and experience in building resilience rather than as clients and beneficiaries of projects. This was the common theme that emerged from the key messages delivered by grassroots leaders at the Fourth Global Platform for Disaster Reduction taking place in Geneva this week, organized by the UN International Strategy for Disaster Reduction (UNISDR). The Global Platform is a biennial forum for information exchange and partnership building across sectors to reduce disaster risk.

Ahead of the Global Platform, 45 community practitioners from 17 countries - Bangladesh, Chile, Ethiopia, Guatemala, Haiti, Honduras, India, Indonesia, Japan, Kenya, Nicaragua, Peru, Philippines, Samoa, Uganda, Venezuela, and the United States - met for a day and a half to share their practices and experiences in responding to disasters and building long-term resilience to climate change, and to strategize their engagement in around the Global Platform. I had the privilege to participate in this first Community Practitioners Academy, which was convened by GROOTS International, Huairou Commission, UNISDR, the World Bank, Global Facility for Disaster Risk and Reduction (GFDRR), Act Alliance, Action Aid, Japan NGO Center for International Cooperation (JANIC), Cordaid, and Oxfam, and was planned in partnership with the community practitioners from their respective networks.

Carbon Dioxide Levels Reach Unprecedented Highs: But Catastrophic Climate Change Can Still be Avoided

Alan Miller's picture

 Courtesy of World Meteorological Organization
Graph shows concentrations of atmospheric Co2 for the last 800,000 years, with measurements, starting from 1958, made at Mauna Loa in Hawaii. - Image courtesy of World Meteorological Organization

Scientists monitoring atmospheric concentrations of CO2 from a mountaintop in Hawaii recently reported that the presence of this greenhouse gas exceeded 400 parts per million (ppm) for the first time in at least three million years – a period when temperatures were much warmer than today. The significance of this seemingly dry statistical trend is stunning as reported in the New York Times:

From studying air bubbles trapped in Antarctic ice, scientists know that going back 800,000 years, the carbon dioxide level oscillated in a tight band, from about 180 parts per million in the depths of ice ages to about 280 during the warm periods between. The evidence shows that global temperatures and CO2 levels are tightly linked.

In addition to the location in Hawaii, several other Global Atmosphere Watch stations from the Arctic to the Equator reported CO2 concentrations exceeding 400ppm.

Experts believe that in order to limit warming to 2°C – a goal based on expected impacts – concentrations should rise to no more than 450 ppm, a level we may reach in only about 25 years based on current trends.


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