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In a Changing Climate, We Can’t Do Conservation as Usual

Valerie Hickey's picture
Flooding in Colombia. Scott Wallace/World Bank


By Valerie Hickey and Habiba Gitay

At the 12th Conference of the Parties to the Convention on Biological Diversity happening right now in Korea, there has been a lot of talk about adaptation. Most importantly, how can nature help countries and communities adapt to climate change? 
 
Ecosystem-based adaptation (EBA), or using nature’s own defense characteristics to reduce the vulnerability of people and capital, is an essential component of climate-resilient development. EBA isn’t about how we can protect nature. It’s about how nature – through the ecosystem services that constitute EBA, be it flood protection, water provision during droughts, or wave energy attenuation, among other things – can protect people and their capital. 

Pension Fund CEO: Pricing Carbon Fixes a Market Failure

Philippe Desfossés's picture
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Philippe Desfossés is the CEO of ERAFP, the French Public Service Additional Pension Scheme. He spoke about carbon pricing from an investor's perspective.

“I support putting a price on carbon because it fixes a market failure. Without carbon pricing, the market has no way to address the costs associated carbon emissions. These costs end up being born by everyone, including companies and societies.

Monday After Climate Week

Rachel Kyte's picture

 Connect4Climate


Sitting on the train heading back from New York to Washington D.C., gazing out of the window at stressed watersheds, I had some time to reflect on a very special Climate Week. What does it all add up to? Where does it leave us as a global community needing speed and scale in our climate action?

Much is being written. Let me add a perspective. Here are three thoughts amid my swirl of memories, moments and impressions.

Climate osmosis – the street reaches the hallowed halls

It was difficult to stand in the canyon that is 6th Avenue, with a sea of people stretching in both directions – environmental activists, nurses, pensioners, business people, every possible faith community, moms, a sprinkling of celebrity and a dash of statesmen – and not be moved. On the Sunday before the Summit, more than half a million people took to the streets in People’s Climate Marches in New York and more than 160 countries across the globe. The marchers demanded climate action from their leaders, suggesting that the politics of climate action, once considered too hard to handle, might no longer be as difficult as leaders think.

The reverberations continued for 48 hours and became a point of reference in almost every speech at the UN Secretary-General’s Climate Leadership Summit. More than 120 heads of state and government came to hint and in some cases pledge action on climate change. New coalitions of governments, businesses, investors, multilateral development banks and civil society groups announced plans to mobilize over $200 billion for low-carbon, climate-resilient development. Forests and cities were big winners, landing pledges of around $450 million for forests and bringing together more than 2,000 cities in a new Compact of Mayors to help improve accounting of urban greenhouse gas emissions and the actions cities are taking to reduce them.

Using Auctions to Keep Methane-Reduction Projects Running: An Interview with Vikram Widge

Isabel Hagbrink's picture
Gas flaring


Vikram Widge heads the World Bank Group’s Climate and Carbon Finance Unit. He spoke from the UN Climate Summit about the new Pilot Auction Facility for Methane and Climate Mitigation (PAF).
 
Q. U.S. Secretary of State John Kerry and the Swedish Energy Agency just pledged $15 million each for the design of a new facility called the Pilot Auction Facility for Methane and Climate Mitigation. What is the PAF?

The World Bank Group is designing a new climate finance pilot that will support emission reductions in developing countries. Because of limited public resources available for climate investment, this facility leverages private capital to support projects that reduce greenhouse gas emissions and are at risk of being decommissioned due to the low price for carbon credits today. 

The facility tests an innovative contract structure by offering put options through an auction to guarantee a minimum price for carbon credits that a project will generate, which gives private-sector buyers, such as projects developers and intermediaries, the security of knowing that they will be paid for investments they make to lower emissions.

Merkel: We Support a Price on Carbon – Growth & Climate Protection Can Go Hand in Hand

Angela Merkel's picture
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In a video shown at the UN Climate Leadership Summit on Sept. 23, 2014, German Chancellor Angela Merkel talks about her country's support for carbon pricing and how it can drive low-carbon growth. 

Fred Krupp: Emissions Trading Limits Carbon Pollution & Harnesses the Power of the Marketplace

Fred Krupp's picture
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Fred Krupp is the president of the Environmental Defense Fund, one of several civil society organizations supporting a price on carbon. He spoke ahead of the UN Secretary-General's Climate Leadership Summit about how a price on carbon could bring shared propserity and economic growth.

The Atmosphere at the People’s Climate March Is Electric

Rachel Kyte's picture
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The People's Climate March drew people from all over the world to New York City today, and you could feel the energy in the air. Across town, government ministers are beginning to feel the sense of urgency, too. 

It Takes All of Us: Stretching the Space for Political Agreement on Climate Action

Rachel Kyte's picture
 Connect4Climate

The rising level of anticipation around the UN Secretary-General’s call for climate leadership has been palpable over the past few weeks, and especially so here in New York at the People's Climate March today, with Climate Week about to start and the UN Climate Leadership Summit just two days away. 

At the World Bank Group, we have been fielding calls from our clients – companies and countries – who are asking for support and wanting to know how they can engage on the different climate initiatives that are coming together across all sectors of the economy. 

Standing in my daughter’s school yard talking to other parents last week, we discovered that many of us would be joining the march. In our family’s religious community, buses were organized and rooms offered to those headed to New York to add their voices to the call for action. New York is just one location – the march organizers are talking about more than 150 other climate action events around the world.

Before stepping off, let me try to lay out how I believe this Summit can help spur action and achieve the speed and scale of action we need. 

Carbon Pricing Helps Investors Assess Investment Prospects for the Future

Frank Pegan's picture
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Frank Pegan is the CEO of Catholic Super, an Australian superannuation fund currently managing AU$5.21 billion. He spoke ahead of the UN Climate Leadership Summit about the value of carbon pricing for investors.

British Columbia Premier: You Can Grow the Economy & Protect the Environment

Christy Clark's picture
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Christy Clark is the premier of British Columbia, which has had a revenue-neutral carbon tax since 2008. She spoke ahead of the UN Secretary-General's Climate Leadership Summit about the impact of carbon pricing on the economy.

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