Leading the green pack
Last week marked another milestone in disclosing the World Bank Group’s environmental performance and setting the standard for transparency by multilateral development organizations. World Bank president Robert Zoellick was the key commentator for the Carbon Disclosure Project’s 2010 Global 500 report. It is the world’s largest database of institutional carbon footprint. The World Bank Group (WBG) is the only Multilateral Development Bank to report to this forum.
Seven years after the Global 500 report was first launched, participation is beyond just ``looking good’’ for corporations. This annual exercise has become an accountability issue for corporations―investors are demanding these carbon footprint figures to assess their risks and opportunities. Investors are moving towards sustainability and the Climate Disclosure Project (CDP) is proving to be an effective benchmarking tool that guides investment choices and aligns incentives for low-carbon growth. It is a win-win for corporations too, because when they accurately know their greenhouse gas emissions, they can better manage them. The 2,500 organizations that participated in this exercise account for a total of 11% of global direct GHG emissions.


There is now a set of tools that can help countries assess how vulnerable their energy sector is.
For several years, emissions from inefficient cookstoves have been acknowledged as a major health hazard, but governments and development institutions alike have continued to adopt a classic ‘silo’ or shall we say in this instance `stovepipe’ approach. While the issue cuts across sectors such as forestry, energy, gender, and environment, each ministry/ department has looked at it from their limited perspective.
There is an old-fashioned view that rich countries can afford to think about climate change but developing countries have more urgent short-term needs. This is well and truly debunked by the evidence of where developing countries are putting their money. Four out of five countries we work with, list climate change among the top priorities for their anti-poverty plans. In the past twelve months, nearly 90% of Country Assistance Strategies requested by developing countries, and approved by the World Bank’s Board, listed climate change as one of the major pillars for 