Most commodity price indexes rebounded in February-March from their January lows on improved market sentiment and a weakening dollar. Still, average prices for the first quarter fell compared to the last quarter of 2015, with energy prices down 21 percent and non-energy prices lower by 2 percent according to the April 2016 Commodity Markets Outlook.
more than the 36 percent increase in the global population. Access to energy is fundamental to development, but as economies evolve, rising incomes and growing populations demand more energy. Sustainable Development Goal 7 seeks to ensure access to affordable, reliable, sustainable and modern energy for all and achieving this will require increasing access to electricity, the take-up of clean fuels and renewable energies, and energy efficiency.
Mobility is at the heart of everything we do – education, jobs, health, trade, social and cultural engagements. But mobility is facing critical challenges that need to be confronted urgently if we are to tackle climate change: over one billion more people on our planet by 2030, with greater needs for mobility; the expected doubling of the number of vehicles on the road by 2050; greenhouse gas emissions that represent almost a quarter of total energy-related emissions, and rising under a business as usual scenario; and the additional challenge of connecting one billion people who still lack access to all-weather roads and efficient transport services.
It is clear that countries’ mobility choices today will either lock us into unsustainable scenarios or will open the way for new possibilities.
On April 22 2016, 175 government leaders signed the historic Paris climate agreement, calling for ambitious and urgent action to implement global climate change commitments. On May 5-6 in Washington DC, representatives from government, private sector, civil society, academia and multilateral development banks will gather for the Climate Action 2016 Summit. With more than 70% of countries’ Nationally Determined Contributions (NDCs) mentioning transport, the sector is one of the focus area of this summit.
A framework for Sustainable Mobility
As coordinator of the summit’s transport track, the World Bank is organizing on May 4th a pre-Summit Transport day in collaboration with the World Resource Institute, the Paris Process on Mobility and Climate (PPMC) and the Michelin Bibendum Challenge. The pre-Summit event will focus on the bold actions that are needed not only to decarbonize transport, but also to make it accessible to all, to improve its efficiency, and to ensure its safety.
with research contributions from Zichao Wei
At conferences, in meetings, and even during casual work conversations, I am asked the same two questions: “Which countries are ideal for investments in infrastructure? Where should the investors invest and what new opportunities should they look toward?”
While sitting in the World Bank gives us a bird’s-eye view of emerging markets and developing economies (EMDEs), it doesn’t offer the up-close-and-personal perspective that investors demand in order to answer these questions in a succinct way. Not that there’s any shortage of synoptic responses. Any number of “market gurus” can assess projects in a second, gathering all the low hanging fruits which are out there in EMDEs. If there is a private deal to be made, then the deal is already done.
Birdwatchers and nature enthusiasts already know that a field guide is a book designed to help the reader identify wildlife or other objects that occur naturally, like minerals. It’s meant to be carried into the “field” to help distinguish between similar objects.
At the Global Infrastructure Hub, we thought it was time for a field guide to infrastructure, pointing out the different resources that populate the landscape and helping them connect better. The Global Infrastructure Hub’s Field Guide to Infrastructure Resources (Field Guide) collects together existing resources and helps the user establish connections among them.
Questions like those – focusing on the private sector as the principal driver of growth, with deft public policy as an indispensable catalyst – inspired a dialogue among some of the developing world’s most experienced policymakers at a major forum, “Powering Up Growth: Ideas for Beating the Slowdown,” during the recent Spring Meetings of the World Bank Group and the International Monetary Fund. All four government Ministers on the panel – from both commodity-exporting and -importing countries – voiced a sense of urgency, describing their efforts to attract private investment to spur job creation, amid a global economy that seems destined for prolonged weakness.
Before the policymakers ascended the Preston Auditorium stage, sobering updates had arrived from the Bank and the Fund: The Bank’s latest forecast for global growth has been lowered from 2.9 percent to 2.5 percent – with the caveat that this latest forecast is subject to further downside risks. That downward revision is in parallel with the Fund’s similar projection, which sees global growth this year in the neighborhood of just 3 percent.
Policymakers worldwide are eager to explore any option to try to lay the foundation for an eventual return to a long-term economic expansion. It was clear that the panelists in the “Powering Up Growth” event – which was convened by Jan Walliser, the Vice President for the Bank Group’s practice group on Equitable Growth, Finance and Institutions (EFI) and organized by the Global Practice for Macroeconomics and Fiscal Management (MFM) – were focused on long-term structural changes that can energize the private sector’s ability to drive growth.
The panelists – from Bolivia, Pakistan, Angola and Ukraine – represented countries from different regions and at various levels of economic development, but they shared a determination to jump-start growth through reforms that will strengthen the private sector’s long-term confidence. The Ministers, at times, seemed to envision opportunities, not just for short-term structural adjustment of their priorities or medium-term structural reform of their policy farmeworks, but for far-reaching structural transformation of their economies and societies.
This number cannot be emphasized enough – more than 1 billion people around the world live without access to electricity, and 2.9 billion still cook with polluting, harmful fuel like firewood and dung.
As we celebrate Earth Day, we're looking at the ways to bring energy access to those communities and transform lives, and at the same time, protect our planet’s resources. How can we make sure that the right progress for communities is the right progress for the planet?
The good news is that the world is constantly coming up with new technology to address this challenge. We have portable, phone-charging solar lamps and energy efficient cookstoves that are affordable and practical for communities living off-the-grid. The challenge now is how to make sure the right technologies are available in affordable and sustainable ways to the communities that need them most.
Solar Sister is a social enterprise that recruits, trains, and supports African women launch clean-energy businesses in their communities, selling lights and cookstoves to their neighbors. We are organized around the principle that women must be intentionally included in discussions around energy.
In September, global leaders adopted the Sustainable Development Goals and are now working to put them into force to end poverty, while also combating climate change and ensuring that our future is prosperous for all people.
The Paris Agreement reached at COP 21 last December represents our best foot forward toward cutting carbon pollution and building resilience to the climate threats we face. And that momentum continues this week, as leaders from around the world gather in New York City to formally sign the Agreement to turn those promises into action.
Increasingly, that future will be more urbanized than ever before. 6 out of 10 people on the planet will live in cities by 2030. However, more than 820 million people live in slums and this number, sadly, is increasing. Fortunately, more and more local leaders are stepping up efforts to make cities more efficient, inclusive, resilient, and productive to address the global challenges of climate change, poverty, and inequality.
This year, we can celebrate another global commitment in the launch of the Compact of Mayors. Nearly 500 mayors and local officials have signed the Compact to mark their pledge to tackle climate change. Most of these leaders were in Paris for COP 21 to call on nations to follow their example.
It is critical to seize this momentum to turn the promise of the Paris Agreement, SDGs, and Compact of Mayors into reality. For climate change, we need to significantly reduce CO2 emissions as soon as possible, as the window for avoiding the worst impacts of climate change is rapidly closing.
The Middle East and North Africa region has never faced such significant stress on its ageing infrastructure like it does today, with one of the most telling being the substantial increase in the need for electricity. It is estimated that electricity demand in the MENA region will increase by 84% by 2020, requiring an additional 135 GW of generation capacity and an investment of US$450 billion. The quest for new approaches to ensure adequate and reliable supply of electricity in the region is more urgent than ever before.
Saturday’s Global Infrastructure Forum was full of firsts: this unprecedented daylong gathering in Washington, DC brought together the leaders of the multilateral development banks (MDBs), as well as development partners and representatives of the G20, G-24, and G-77, the OECD, the Global Infrastructure Hub and the United Nations. All shared the goal of enhancing multilateral collaboration to improve infrastructure delivery globally.