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Mobilizing the buildings sector for climate action

Marcene D. Broadwater's picture

Also available in: Spanish

Kolkata West International City, India. Credits: IFC


With the passing of the historic climate change agreement in Paris, the buildings sector, which accounts for 32 percent of total energy use and 19 percent of GHG emissions, has been highlighted as a key industry to transform in order to achieve global climate mitigation goals. The private sector has responded with ambitious pledges for action, and must now turn to practical solutions to put the building sector on a low-carbon path.

The good news is that the level of aspiration is very high. I participated in the first-ever Buildings Day at COP21, witnessing ambitious commitments from both the public and the private sector. Over 90 countries have included attention to buildings in their Nationally Determined Contributions (NDCs), with greater than 1,300 commitments from companies and industry and professional organizations.

We have an agreement in Paris: So, what’s next for the private sector?

Christian Grossmann's picture
Wind turbine farm in Tunisia. Photo: Dana Smillie / World Bank


It's been two months now since the historic climate change conference, COP21, wrapped up in Paris, concluding with 195 countries pledging to take actions to keep global warming to under 2 degrees Celsius. This is an unprecedented achievement in the long history of international climate policy.
 
Compared to past negotiations, there was a different atmosphere in Paris. The negotiators were determined to find common ground rather than draw insurmountable lines in the sand. Investors lined up with billions of dollars in new financial commitments in addition to the suggested roadmap for developed nations to contribute to the needed $100 billion annually for mitigation and adaptation efforts.

And the private sector was more active and visible than ever before: CEOs from industries as far ranging as cement, transportation, energy, and consumer goods manufacturers announced their own climate commitments in Paris to decrease their carbon footprints, adopt renewable energy, and improve natural resource management.
 
This enthusiasm was especially apparent during the CEO panel that IFC, the organization I represent, convened during the Caring for Climate Business Forum by UN Global Compact. CEOs from client companies in India, Turkey, Thailand, and South Africa discussed their innovative climate change initiatives, investments, and technologies, and the challenges of scaling up their climate business.
 

Le rideau se lève sur la plus grande centrale solaire à concentration du monde

Mafalda Duarte's picture
Also available in: English

Also available in: العربية

 Banque mondiale
Avec une capacité de 500 MW, d'ici 2018 la centrale thermoélectrique de Noor-Ouarzazate devrait fournir de l'électricité à 1,1 million de Marocains. Photo: Banque mondiale


Si vous n’avez jamais entendu parler de l’énergie solaire concentrée, sachez que cette technologie est promise à un bel avenir. Moins connu que d’autres sources d’énergie renouvelable, elle n’en possède pas moins un fort potentiel de développement : selon l'Agence internationale de l’énergie, le CSP (pour concentrated solar power) pourrait être à l’origine de 11 % de la production mondiale d’électricité d’ici 2050. 
 
C’est une révolution qui s’annonce, qui placera les pays émergents et en développement du monde entier sur la voie d’une croissance sobre en carbone. Et le Maroc en a pris la tête : cette semaine, le roi Mohamed VI inaugure officiellement la première phase de ce qui sera à terme la plus grande centrale solaire à concentration du monde — le futur complexe de Noor s’étendra sur une superficie égale à celle de Rabat, la capitale marocaine.
 
En collaboration avec la Banque mondiale et la Banque africaine de développement, les Fonds d’investissement climatiques (FIC) ont déjà fourni 435 millions de dollars en faveur de ce complexe solaire dont le développement se déroulera en trois phases.

What do young people think about climate change?

Max Thabiso Edkins's picture
Youth and Future Generations Day at COP21
Youth and Future Generations Day at COP21. Photo: Connect4Climate


On December 3, 2015, hundreds of young people gathered at the United Nations Conference on Climate Change (COP21) to join leaders and share their voices on climate change. The day was marked as the ‘Young and Future Generations Day,’ a chance for young people to have a seat at the table and share how they would define our future. Young people today are growing up with effects of climate challenge and this immediate threat makes them more leaders of today rather than tomorrow.

Thinking big: The importance of landscape-scale climate action plans ahead of Paris

Ellysar Baroudy's picture
Credit: UN-REDD Programme/Pablo Cambronero 


The countdown is now well and truly onto to the Paris climate change talks in France.

A key factor in the talks will be the national plans, known as the INDCs - Intended Nationally Determined Contributions – submitted to the UN ahead of the Paris conference. They are important building blocks for reaching a final agreement.

Given that emissions from land use contribute significantly to climate change, it’s important to note many countries have included the land sector, which covers sustainable agriculture and forestry, as a key part of their approach to mitigating climate change.

G7 recognizes need for deep emissions cuts. Now for action

Rachel Kyte's picture
Also available in: Español | Français

G7 meeting in Germany. Bundesregierung/Gottschalk


This weekend, the leaders of the G7 committed to a series of actions that mark their first serious recognition of the economic transformation that is ahead of us.
 
Collectively, they recognized the need to decarbonize the global economy, enshrining in economic cooperation what the scientists in the IPCC told us last year in their Fifth Assessment Report. They called for ambition at the Paris climate talks this year – not new, but they recognized that they, individually and collectively, need to be in the upper part of the ambition bracket and that that means at least a “transformation of the energy sector by 2050.”
 
They talked about the mobilization of capital for this transformation, as well as ending the increasingly profligate use of harmful fossil fuel subsidies. Recognizing the need for an orderly transition to low-carbon growth as quickly and as smoothly as possible, they took on some degree of leadership around the pledge to provide $100 billion in climate finance for developing countries from public and private sources before 2020. More on that in a moment.

CEO: Why Europe’s largest energy companies support carbon pricing

Gérard Mestrallet's picture
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Gérard Mestrallet is chairman and CEO of ENGIE, formerly GDF Suez. He spoke at the World Bank Group about his company's support for carbon pricing and the involvement of Europe's energy companies in reinvigorating the EU's emissions trading system. 
 

Rachel Kyte: Takeaways from the Spring 2015 Climate Ministerial

Rachel Kyte's picture
Spring Meetings 2015


At this year's climate ministerial of the World Bank Group/IMF Spring Meetings, 42 finance and development ministers discussed phasing out fossil fuel subsidies, putting a price on carbon and mobilizing the trillions of dollars in finance needed for a smooth, orderly transition to a low-carbon economy. World Bank Group Vice President and Special Envoy for Climate Change Rachel Kyte describes the conversations in the room and the key takeaways.  

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 borne by everyone, including companies and societies.

Carbon pricing – delivering economic & climate benefits

Thomas Kerr's picture

 TonyV3112/Shutterstock

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:

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