, improving educational outcomes, safeguarding food and minimizing its waste, improving healthcare, and supporting countries’ digital ambitions (that computer of yours heats up pretty fast). And all of this, from improved productivity to education to health, is vital to eliminating extreme poverty and boosting shared prosperity across the globe.
The idea that there are untapped opportunities for improving the energy efficiency of individuals and homes is common. Energy efficient windows, lightbulbs, and appliances are sold worldwide. People are advised to “turn off the lights when you leave a room,” and schemes have been introduced to reduce energy consumption by tapping into social psychology. But what about large firms? Or entire industries? Companies, after all, want to minimize costs to save money, don’t they? How about airlines, whose bottom lines are subject to the international price of fuel?
It seems rational, but the International Energy Agency does not mention the aviation sector in its Energy Efficiency Market Report, nor does Kinsey in their comprehensive catalog of potential energy efficiency measures. Most reports (that I could find) focus on regulation of commercial enterprises. This is a shame. The environmental impact of aviation is clear: aircraft engines emit heat, noise, particulates, CO2, and other harmful gases that contribute to climate change. Despite more fuel-efficient and less polluting turbofan and turboprop engines for airplanes as well as innovations in air frames, engines, aerodynamics, and flight operations, the rapid growth of air travel in recent years has contributed to an increase in total aviation pollution. In part, this is because aviation emissions are not subject international regulation thus far and because the lack of global taxes on aviation fuel results in lower fares than one would see otherwise.
Interestingly, although perhaps not surprisingly, the National Bureau of Economic Research just released a working paper that suggests airlines’ fuel consumption can be reduced if they “nudge” the pilots to use less fuel, using behavioral interventions.
“In a time when gods walked the earth, an epic battle rages between the encroaching civilization of man and the gods of the forest…” That’s the opening line of the official movie trailer for Princess Mononoke.
I’ve always been a fan of Studio Ghibli, but among their films, Princess Mononoke was one that inspired me most. If you don’t know the story, there’s a prince that gets involved in a war between mankind and gods. The fate of the world rests on a forest princess! Yes, there’s a fearless forest princess in this movie. With its strong plot, interesting characters and fantasy elements, it became one of the highest-grossing films in Japan. Sure enough, Mononoke led me to a path of believing in heroes and saving the world.
If I ask you what movie changed your life or inspired you to action, I’m guessing that you would tell me about a blockbuster, or maybe, a cause-related documentary. Stories speak to us differently and individually. The bigger question is, where can these stories take us?
Mapping gravel roads in flood-prone areas amidst talk of guerrilla ambushes was not what I had imagined when I signed up as a climate change specialist for the World Bank. But if my first trip to the Zambezia and Nampula provinces in northern Mozambique is any indication of what life as a World Banker is going to be – my teenage Indiana Jones fantasies may well come true!
It all started innocently enough when I was hired to support a project in Mozambique focused on improving the conditions of feeder roads to foster agricultural production. The northern provinces of Zambezia and Nampula are major agricultural producers for the country, but also highly flood-prone. The Zambezi, Ligonha and Molocue rivers flood almost every rainy season, rendering significant elements of the road network impassable, sometimes for months. A changing climate could increase the severity and frequency of extreme rainfall – further exacerbating flood risks. Our goal was to identify elements of the unmapped, “unclassified” feeder network which could be improved to provide network redundancy, and thus improve road system resilience to flooding. It quickly became clear that the first step in evaluating an unmapped network is to map it, so I spent the last two weeks in Mozambique working with the government to do just that.
Bangkok, Thailand — November 25, 2011: A flooded factory in the Nava Nakorn Industrial Estate at Pathumthani.
Photo @ photonewman
“No one can tackle climate change alone.” Those words, by Abdelouahed Fikrat, General Secretary of the Moroccan Ministry of Environment, aptly summarized the challenge that we face today in dealing with climate change. He made that declaration at the recent Dialogue for Climate Action event in Vienna, organized by The World Bank Group and the Government of Austria on May 24 and 25.
The Vienna event marked the launch of six Principles on Dialogue for Climate Action — a set of tenets aimed at guiding businesses and governments as they embark on productive conversations on how to cooperate effectively to fight climate change.
The World Bank Group and 12 international partners got together to collaboratively formulate the six principles: Inclusion, Urgency, Awareness, Efficiency, Transparency and Accountability.
In endorsing the principles and signing on to the Community of Practice (CoP) for Dialogue for Climate Action, Fikrat said, “The principles of dialogue launched at this event hold potential to contribute significantly to the COP 22 agenda and offer a tool to policymakers for engaging the private sector. We need to build on the current momentum to speed up the implementation of concrete actions.”
The tone for the event was set by Dimitris Tsitsiragos, Vice President of the International Finance Corporation (IFC), who stressed in his keynote address that “stopping the catastrophic impact of climate change requires urgent, comprehensive and ongoing public-private dialogue”.
Dialogue for Climate Action in Practice
So what does this mean in practice? How do we avoid pursuing a dialogue that is devoid of action? There is significant pressure on all actors to avoid “post-Paris blues” and stagnation. There is also a need to avoid actions in a vacuum, where everyone is doing something but without cohesion and coordination.
The six principles for climate action are based on the premise that all actors, working together, will create greater results. Bangladesh PaCT (Partnership for Cleaner Textiles), a project managed by the World Bank Group, makes a strong case for that approach. The project, which was launched in 2013, aims to introduce cleaner, more environment-friendly production methods in the textile sector, and dialogue is a key pillar of its project design.
First published by Capital Finance International.
Soon the world will celebrate the one-year anniversary of the historic climate agreement signed in Paris in December 2015. The agreement will be implemented through country-led greenhouse gas (GHG) emissions reduction commitments known as their intended Nationally Determined Contributions (NDCs), which to date have been submitted by 189 countries covering 95 percent of global GHG emissions.
Apart from signaling concrete commitments, these reduction targets also offer a clear signpost of the investment direction countries need to follow as the global economy steers towards a low-carbon, climate-resilient pathway. Estimates point to between $57 trillion and $93 trillion in new low-carbon, climate resilient infrastructure investment by 2030. How developing countries evaluate and respond to their infrastructure needs will greatly determine their ability to meet GHG reduction commitments.
- Intended Nationally Determined Contributions (INDCs)
- private sector investment
- LAC Climate Business Forum
- low-carbon development
- Clean energy
- climate investment
- climate-smart investments
- Private Sector Development
- Climate Change
- Latin America & Caribbean
- climate finance
All six have benefited from the Integrated Modern Agriculture Development Project (IMAD) Project since 2014, when implementation began by the County Office for Comprehensive Agriculture Development.
These statistics highlight the need to address the problem as global citizens. But if you look at it closer, the incentives for action are indeed very local, making cities—as the centers of consumption in the world—important game changers with strong reasons to take action.
Before memories start to fade about a stellar springtime conference – at which several of the Bank Group’s Global Practices (including those focusing on Governance and on Health, Nutrition and Population) assembled some of the world's foremost authorities on tax policy – it’s well worthwhile to recall the rigorous reasoning that emerged from one of the year’s most synapse-snapping scholarly symposia at the Bank.
Subtitled “Protecting Developing Countries from Global Tax Base Erosion,” the conference focused mainly on the international tax-avoidance scourge of Base Erosion and Profit-Shifting (BEPS). Coming just one week after a major conference in London of global leaders – an anti-corruption effort convened by Prime Minister David Cameron of the United Kingdom – the two-day forum in the Preston Auditorium built on the fair-taxation momentum generated by the recent Panama Papers disclosures. Those leaks about international tax-evasion strategies dominated the global policy debate this spring, when they exposed the rampant financial conniving and misconduct by high-net-worth individuals and multinational corporations seeking to avoid or evade paying their fair share of taxes.
The Bank Group conference, however, explored tax-policy issues that ranged far beyond the headline-grabbing disclosures about the scheming of rogue law firms and accounting firms, like the now-infamous Panama-based Mossack Fonseca and other outposts of the tax-dodging financial-industrial complex. Conference-goers also heard intriguing analyses about how society can levy taxes on “public ‘bads’ ” to promote investment in “public ‘goods’ ” – as part of the broader quest for broad-scale tax fairness.