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Climate Change

We can't delay investing in resilience – the risk is too high

Rachel Kyte's picture
Action4Climate
As the UN climate conference was starting in Lima, Typhoon Hagupit (Ruby) was about to make landfall in the Philippines. Over 1 million people headed for shelters, with memories of Typhoon Haiyan (Yolanda) one year earlier clear in their minds. This short movie tells the story of the 2013 storm and the importance of resilience.



The Paris negotiations where the world will be writing a new international climate agreement are just a year away, and here in Lima, delegates from around the world are discussing their national commitments and contributions that will largely determine the level of ambition in that 2015 deal.

As we trace the path to a resilient and decarbonized economy, we must keep in mind that the Paris agreement will set a framework for the period post-2020. What happens until then?

The science tells us that, even with very ambitious mitigation action, we have already locked-in warming close to 1.5°C above pre-industrial levels. Climate change impacts such as heat-waves, droughts, storms, and other weather extremes may be unavoidable.

Testing carbon pricing in Brazil: 20 companies join an innovative simulation

Nicolette Bartlett's picture
Bidding platform for ETS simulation. BVRio


By Nicolette Bartlett, Prince of Wales’s Corporate Leaders Group and CISL

Developing effective carbon pricing mechanisms can and will play a key part in tackling climate change, facilitating the much needed investment cost-effectively and at scale. Specifically, “cap and trade” policies or emissions trading schemes (ETS) have been widely adopted in recent years because of their potential to foster greenhouse gas emissions reductions.

Over the past few years, carbon pricing has risen on the corporate agenda – from the Prince of Wales’s Corporate Leaders Group’s (CLG) Carbon Price Communiqué to the UN Climate Leadership Summit in September, where 73 countries and over 1,000 companies came together to publically lend their support for carbon pricing. Here at COP20 in Lima, many businesses and civil society organisations are asking what role carbon pricing will have in the Paris 2015 Climate Agreement.

One Brazilian business group that CLG has been partnering with is taking a novel approach. Empresas Pelo Clima (EPC) implemented an ETS Simulation using live corporate data to engage Brazilian companies in discussions around what a robust cap and trade market might entail and how it could be designed and implemented. The ETS Simulation is delivered in partnership between the Rio de Janeiro Green Stock Exchange (BVRio – Bolsa Verde do Rio de Janeiro) and EPC through the Center for Sustainability Studies of the Business Management School at the Getulio Vargas Foundation (FGV-EASP).

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.

High-level climate talks open with new sense of urgency, clarity & movement on carbon pricing

Rachel Kyte's picture
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The high-level segment of the UN climate talks is starting here in Lima. It's a different mood today than in previous climate talks and a different conversation, with both a sense of urgency and clarity of objective. There has been a lot of discussion around carbon pricing, in particular, with representatives from countries, cities, states and industry saying the question now is how quickly we can move.

Pension fund CEO: One of the biggest risks in a long-term investor's portfolio is carbon

Mats Andersson's picture
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Mats Andersson, CEO of Swedish pension fund AP4, spoke at the World Bank Group about the importance of transparency for investors and the impact of a carbon price in shifting investment to cleaner, more sustainable development.

To get to net zero emissions, we need healthy landscapes

Rachel Kyte's picture
A project restoring degraded hillsides in China. Li Wenyong/World Bank

The latest report from the Intergovernmental Panel on Climate Change (IPCC) tells us that to rein in climate change and keep global warming under 2°C, we will have to start reducing emissions now and get to near net zero emissions within this century.

That won’t happen without healthy forests and soil storing carbon, and it won’t happen without climate-smart land-use practices that can keep carbon in the ground.

Together, agriculture, forestry and other land use changes account for about a quarter of anthropogenic greenhouse gas emissions. The sector can be a powerful source of emissions, but it is also a powerful carbon sink that can absorb carbon dioxide, providing a pathway to negative emissions. The IPCC authors estimate that with both supply-side and demand-side mitigation efforts – including reducing deforestation, protecting natural forests, restoring and planting forests, improving rice-growing techniques and other climate-smart agriculture methods, changing diets, and reducing the immense amount of global food waste – we can effectively reduce a large percentage of emissions from the sector and increase carbon storage to move the needle toward net zero.

Invest in Soil; Sustain Life.

Ademola Braimoh's picture
Three women plant seeds on a farm in Chimaltenango, Guatemala. Photo by Maria Fleischmann / World BankHealthy soil is fundamental: To food security, ecosystems and life. Soils help feed a global population that has increased to 7.3 billion people. Healthy soils provide a variety of vital ecosystem services such as nutrient cycling, water regulation, flood protection, and habitats for biodiversity. Soil is also a huge component of the global carbon cycle. It holds more carbon than vegetation and accounts for 80% of the world’s terrestrial carbon stock.

But the quest for greater yields and profits has compromised soil health, mining soils for nutrients, over-using fertilizers, and creating over 4 billion hectares of man-made deserts.

A major African step to make sustainable transport a reality

Roger Gorham's picture
Promoting Sustainable Transport Across Africa

The term “sustainable transport” evokes a wide range of images and perceptions among transport professionals and lay people alike. For some, it means a range of technology solutions – from diesel particulate filters to ebikes, Copenhagen wheels, or buses running on compressed natural gas.  For others, the term can refer to changes in behavior, like improving the way vehicles are maintained or driven, or efforts to carpool.  For yet others, the term implies even more radical changes, like wholesale shifts in the way cities are designed, and/or smart city approaches that use ICT technologies to fundamentally change the way people interact with their surroundings. “Sustainable Transport” can mean any or all these things, including expanding access to transport services in rural areas. 
 
But however the term is interpreted, it is not normally associated with Africa.  Indeed, in many respects, common images of African transport are synonymous with unsustainability – high rates of traffic growth and congestion (even in cities with comparatively low motorization rates), high traffic injury and fatality rates from substandard road safety practices, highly polluting vehicles, minimal formal public transport services, poor enforcement of road worthiness and vehicle overloading– and the list could go on.  
 
It is then very telling that the inaugural conference of the Africa Sustainable Transport Forum took place in Nairobi, Kenya in late October, with not only a great deal of interest but also high-level participation (with delegates from 42 African countries, including 25 Ministers). The conference was hosted by the Kenyan government, with support from the World Bank-led Africa Transport Policy Program (SSATP) and the United Nations Environment Program (UNEP). The Ministerial portion of the conference was opened by both President Kenyatta and Secretary General Ban Ki Moon. 
 
Over three days, technical experts and ministers discussed what transport sustainability means for the continent, resulting in the first ever Sustainable Transport Action Framework for Africa. There were a number of other “firsts” associated with the conference: the first time African transport and environment ministers gathered together to discuss transport issues; the first time that “sustainability”, as a key objective of transport policy in Africa, was the focus of the agenda; and the first time that a Secretary General of the United Nations had ever opened an international conference focused on transport.

Why We’re Making a Stand for Resilient Landscapes in Lima

Magda Lovei's picture
Photo by Andrea Borgarello / TerrAfrica, World Bank)​World leaders and land actors are in Lima this week to help advance climate action. Climate resilience—including the resilience of African landscapes—will be at center of the agenda as they define the role of sustainable, resilient landscapes for a new development agenda.
 
Why should the world—and Africa in particular—care about resilience?
 
The importance of resilience as an imperative for development is nowhere as obvious as in Africa. Fragile natural resources—at the core of livelihoods and economic opportunities—are under increasing pressure from unsustainable use, population pressure, and the impacts of climate change.
 
Sustainable development will only be possible in Africa if natural resources are valued and protected. It will only be possible if their resilience to shocks such as climate change is improved. ​Resilient landscapes—where natural resources and biodiversity thrive in interconnected ecosystems that can adapt to change and protect people from losses—are important to the work of ending poverty and boosting prosperity.


 

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