Questions like these were at the center of discussions at the Fuel Economy Accelerator Symposium held in Paris last week. The event, organized by the Global Fuel Economy Initiative (GFEI), was hosted by the French Ministry of Ecology, Sustainable Development and Energy. I represented the World Bank at this event, which took place on the heels of the UN Secretary General’s upcoming Climate Conference in New York, scheduled for late September. As a result, the topic of the fuel economy and energy efficiency is especially timely and relevant.
Doubling the global rate of improvement in energy efficiency by 2030 is one of the three major objectives of Sustainable Energy for All (SE4ALL), an initiative led by the UN Secretary-General and the President of the World Bank Group. The other two goals by 2030 are to provide universal access to electricity and modern cooking solutions, and to double the share of renewable energy in the global energy mix.
By Yoichi Masuzoe, Governor of Tokyo
The IPCC’s Fifth Assessment Report firmly centered on the reality of human-driven climate change. If we don’t take immediate and tangible steps to reduce the consequences of these actions, we will face an environmental crisis that will have a major impact on mankind’s existence. Here in Tokyo, we are extremely concerned about this danger, as it poses a huge threat to our goal of becoming a sustainable and environmentally-friendly city.
In the year 2030, it is estimated that the number of people living in urban areas will exceed 60 percent of the world’s population, and measures at the city level are now crucial. The effects of climate change are already becoming apparent in a range of forms, and Tokyo is no exception. Tokyo has undertaken several measures to mitigate these effects, including launching the world’s first urban cap-and-trade program. In addition, Tokyo is implementing a number of pioneering initiatives, such as measures to counteract storm surges and floods, as well as major earthquakes, and advancing urban planning to realize a more resilient city.
A dangerously warming planet is not just an environmental challenge – it is a fundamental threat to efforts to end poverty, and it threatens to put prosperity out of the reach of millions of people. Read the recent Fifth Assessment Report from the Intergovernmental Panel on Climate Change if you need further evidence.
If we agree it is an economic problem, what do we do about it? There is general agreement among economists that a robust price on carbon is a key part of effective strategies to avert dangerous climate change. A strong price signal directs finance away from fossil fuels and toward a suite of cleaner, more efficient alternatives.
This logic is not lost on governments and companies. Momentum is building around the globe to put a price on carbon. Consider these facts:
In the weeks running up to the 3rd International Conference on Small Island Developing States, out of frustration and a sense that they must look after themselves, a new alliance was born: the Coalition of Atoll Nations on Climate Change. Or, as President Tong of Kiribati called it, the "alliance of the sinking". The coalition comprising Tuvalu, Kiribati, Marshall Islands, Maldives, Cook Islands, and Tokelau, with Micronesia associated as part of their territory, is atoll territory.
These nations have tried everything to bring their situations to the climate negotiators' and development organizations' attention and have their special situation recognized. With just 15 months until the Paris climate negotiations, they seek in a group to be able to support each other and to make themselves heard.
Whether you'll be attending the upcoming World Water Week in person or following online, there's a lot to look forward to this year. This year's theme focuses on Energy and Water and along with Sustainable Energy for All (SE4ALL) and the International Union for Conservation of Nature (IUCN), The World Bank Group is excited to join as a collaborating partner.
One of the major issues in the Open Working Group’s outcome report on the shape of the post-2015 agenda is the availability and access to financing to allow the goals to be met. There is a great temptation to simply try and calculate the financing needs for each goal and add them up to get the total financing need. Because this approach seems simple, it is appealing to many. The problem is that it is conceptually wrong.