Executives from Alstom, the Swedish pension fund AP4, Deutsche Bank, and the French pension fund ERAFP joined finance ministers for an informal climate ministerial discussion about carbon pricing during this year's World Bank Group/IMF Annual Meetings. After the meeting, Rachel Kyte, the World Bank Group's vice president & special envoy for climate change, described the conversation and some of the takeaways.
It is no exaggeration. Today, around 800 million people go to bed hungry every night. By 2050, we will need to produce at least 50% more food to feed a population on track to reach nine billion.
That’s a daunting challenge for our food systems, our planet, and our generation.
If we keep eating our planet, what will be left for our children and ourselves in the future? In other words, how will we nutritiously feed nine billion by 2050 in the face of environmental threats?
If we are dead serious about this challenge, then we really need to pay greater attention to the role of transportation and logistics, both crucial in increasing food security, so we can feed 9 billion people by 2050, and mitigating impact on climate change. Just consider these facts:
- Up to 50% of harvest is wasted between farm and fork, the moment we actually consume food.
- Transport-related emissions account for about 15% of overall greenhouse gas emissions. And 60% of those emissions are coming from road transport.
- And logistics costs affect small farmers disproportionally (up to 23% of their total costs).
By 2050, the world's population will have risen to 9 billion people. Consumption of fish as a percentage of protein in diets around the world is growing too, especially in the last five years as noted in a recent United Nations Report. Fish makes up over 16 percent of the world's animal protein food supply, and food fish supply, including aquaculture, has increased at an average annual rate of 3.2 percent, which means it’s growing at an even faster clip than the world's population. But the supply of wild-caught commercial fish species, such as tuna, is not infinite. Realistic, well-defined and long-term focused management strategies need to be in place now so that despite an unwavering growth in population and consumption, wild fish stocks can thrive well into the future.
Consumption of fish will continue to increase. In both the developing and developed world, more consumers want access to more fish. In less developed, food-deficit countries -- specifically coastal ones -- fish like tuna provide an affordable source of nutrient rich food.
Philippe Desfossés is the CEO of ERAFP, the French Public Service Additional Pension Scheme. He spoke about carbon pricing from an investor's perspective.
“I support putting a price on carbon because it fixes a market failure. Without carbon pricing, the market has no way to address the costs associated carbon emissions. These costs end up being borne by everyone, including companies and societies.
The world has made impressive progress against hunger in the past few decades – mostly due to the hard work of poor people themselves. They are the most important stakeholders: Who could be more invested in the struggle against hunger than a young woman with a hectare of land to farm and two children to feed?
The State of Food Insecurity in the World (SOFI) 2014 tells us that the hunger target of the Millennium Development Goals (MDGs)—cutting in half the proportion of undernourished people—is within reach. Even better, the evidence shows that the world is making progress rapidly enough to end hunger by 2030. Setting and achieving a goal to end hunger and malnutrition in the post-MDG, post-2015 era can bring an end to widespread chronic hunger, which affects more than 800 million people today.
Ending hunger is important for the present and the future. It is far better to prevent a crisis than to respond after it has occurred.
Ironically, people living with hunger are, by and large, the very same people the world needs to feed a growing population. Smallholder farmers often face structural barriers to food security—for example, they lack access to basic infrastructure, such as roads to get crops to the market, storage facilities, electricity, and irrigation. They lack access to credit and land. Helping them increase their incomes and build assets, strengthening safety nets, and focusing on health and education outcomes will help build their resilience to shocks that are beyond their control, such as climate change-related weather events.
By Francis Ghesquiere and Olivier Mahul
This week, the Resilience Dialogue, bringing together representatives from developing countries, donor agencies and multilateral development banks, will focus on financing to build resilience to natural disasters.
There is growing recognition that resilience is critical to preserving hard won development gains. The share of development assistance supporting resilience has grown dramatically in recent years. New instruments have emerged in particular to help client countries deal with the economic shock of natural disasters. In this context, an important question is which financial instruments best serve the needs of vulnerable countries? Only by customizing instruments and tools to the unique circumstances of our clients, will we maximize development return on investments. Clearly, low-income countries with limited capacity may not be able to use financial instruments the same way middle-income countries can. Small island developing states subject to financial shocks where loss can exceed their annual GDP face vastly different challenges than large middle-income countries trying to smooth public expenditures over time or safeguard low-income populations against disasters.
Since gaining independence in 1971, food security issues in Bangladesh have been amongst the highest priorities on the government’s agenda. This is because Bangladesh faces a number of demographic, social and ecological challenges, which make it particularly vulnerable to food insecurity. These challenges are further exacerbated by climate change, including the consequences of sea level rise. Silent threats such as soil and river salinity and arsenic contamination have direct and indirect effects on agricultural production and households’ access to food.
In order to target the continuing food security threats the Government of Bangladesh has developed a number of high level policy initiatives, including Vision 2021 and the related Perspective Plan. Achieving food security is also a key objective of the country’s poverty reduction strategy and has been recognised to be the highest risk in the Bangladesh Climate Change Action Plan. Strategic objectives include realizing universal food security, which implies that the country needs to be not only self-sufficient in terms of food production but also manage equitable distribution of nutritious food. Ensuring universal food security is particularly challenging given the multidimensional nature of the food security concept which comprises food availability, physical and financial access to food, food utilisation and food stability.