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Climate Change

Strong measures: getting fiscal on climate change

Weijen Leow's picture
Opening plenary of the Africa Carbon Forum



Albert Einstein once said: “The only source of knowledge is experience.” For years I have wondered about this. Surely you can understand something without actually having done it. After all, mankind’s understanding of the vast universe is greater than what can be directly experienced, and some of it is derived from theoretical reasoning. I was on my way to the 2018 Africa Carbon Forum to share fiscal policy lessons under the CAPE program and the debate was still raging in my head when I arrived at the UN campus in Nairobi Kenya.

Finance ministers should step up efforts for climate action

Petteri Orpo's picture
Photo: Mariano Mantel/Flickr

By Petteri Orpo, Minister for Finance, Finland 

Climate change already has many negative impacts with wide-ranging effects. According to the International Monetary Fund (IMF), global warming is significantly slowing economic growth in African countries while the population is growing rapidly. Climate change increases poverty and conflicts, as well as migration pressure.

It’s time to act. In terms of scale, the solution to the climate crisis is an exceptional challenge in the history of humankind. Emissions must be reduced quickly in all sectors of the economy.

Why we should be more optimistic about forests and climate change

Ellysar Baroudy's picture



If you skimmed the news this year, 2017 may have seemed like a tough year for climate change.
 
The US and the Caribbean endured a devastating hurricane season. People across Africa felt the impact of consecutive seasons of drought that scorched harvests and depressed livelihoods. And severe rains and flooding forced tens of thousands of evacuations in Asia.

We’ve all seen these headlines, and perhaps several others that leave us feeling discouraged, to say the least. The thing is, these headlines do not tell the full story.

Urgency and unity central at Fiji-led climate conference

Max Thabiso Edkins's picture

The inspiring slogan of the UN Climate Change conference COP23 “Uniting for Climate Action – Further Faster Together” still reverberates in my daily thoughts. The World Bank Group partnered with the Fijian Presidency, the German hosts and numerous partners to spread the message of unity, and the urgent need to increase ambition and action.

Reaffirming our commitment to carbon pricing and climate action

Catherine McKenna's picture
Second Annual Carbon Pricing Leadership Coalition High-Level Assembly. Photo: World Bank


When the world united around the historic Paris climate agreement, in 2015, the message was clear: It’s unfair to pass the burden of climate change to future generations.

We now need to put words into action. This week, leaders from 20 of the largest economies are meeting in Hamburg to find solutions to global challenges. Climate change will be front and center.

As the co-chairs of the Carbon Pricing Leadership Coalition (CPLC), we want to accelerate climate action and reaffirm our commitment to carbon pricing. The discussions in Germany are a great opportunity to keep the momentum going.
 
Launched during the Paris climate talks, the CPLC now consists of 30 governments and over 140 businesses, all fighting for a common cause: to advocate for the pricing of carbon emissions across the world. We are calling for bold leadership from everyone – governments, companies, academia and civil society. The CPLC provides a forum for these groups to show collaborative leadership on carbon pricing.

A new front in the climate fight: innovative finance

Miria Pigato's picture
 Innovate4Climate Finance & Markets Week. Photo: World Bank / Simone D. McCourtie


What does public debt have to do with combatting climate change?
 
A few years ago, this would have seemed a strange question, as debt management and climate policy have traditionally been regarded as unrelated fields. But at a workshop at the annual Debt Management Forum in Vienna on May 22, 2017, debt managers from 50 developing countries discussed the role of emerging debt instruments such as green bonds and blue bonds, in raising capital for climate-friendly projects that range from reforestation to renewable energy.

While green and blue bonds resemble more traditional debt instruments in terms of structure and returns, they represent a novel approach to climate finance. Created just ten years ago, the total value of green bonds has grown at a spectacular pace, reaching US$82.6 billion in 2016. By the end of 2017, the total value of green bonds will likely exceed US$100 billion.

An early education in development

Ellysar Baroudy's picture
This World Bank staff member, from a traditional Maasai pastoralist family in Southern Kenya, is helping to ensure that indigenous people have a seat at the table when it comes to forest conservation and climate change.

The story begins a world away from Washington. Nicholas Meitiaki Soikan — or Soikan as he’s known to most — was the sixth of seven children in what is considered a small Maasai family from Kajiado county in Kenya.
As a young boy, his mornings were spent herding livestock, mostly cattle that he had names for and considered his pets. He and his siblings went to primary school in shifts, so that meant Soikan’s turn to study was in the afternoon, often under a large acacia tree.

Energy storage can open doors to clean energy solutions in emerging markets

Alzbeta Klein's picture

Also available in: French

Energy storage is a crucial tool for enabling the effective integration of renewable energy and unlocking the benefits of the local generation of clean resilient energy supply. Photo credits: IFC


For over a hundred years, electrical grids have been built with the assumption that electricity has to be generated, transmitted, distributed, and used in real time because energy storage was not economically feasible.
This is now beginning to change.

Five Film4Climate films to inspire you in 2017

Lucia Grenna's picture



It’s just one month into 2017, and for many,  that means they have just launched their New Year’s resolutions. The gym is still crowded, your refrigerator is still full of healthy food, but that initial motivation may not be as high as it was on, say, January 2. So, it’s time to find new sources of motivation and even inspiration for keeping that New Year’s resolution. One place to find that inspiration is the Film4Climate competition. If you’re trying to find a reason to persevere through whatever new challenges you are finding, look no further than the winners of this competition. All these films put things in a unique perspective.

The five winners in the short film category really can be your springboard for an inspiring 2017.

2016: A unique opportunity to get it right on forests and climate change

Ellysar Baroudy's picture
Moniz Phu Khao Khouay, Vientiane Province
Forest monitoring efforts in Phu Khao Khouay, Vientiane Province, Laos PDR. Photo credit: Hannah McDonald

If ever there was a year to make significant progress on forest conservation and climate change, it was 2016. Coming on the heels of the historic COP21 Paris Agreement, 2016 was a year to demonstrate the commitment the World Bank Group has to support countries as they take forward their nationally determined contributions to address our global climate change challenge. It’s gratifying to look back on 2016 and feel that we contributed to harnessing this momentum and sense of urgency; especially in showing how sustainable land use, including sustainable forest management, is critical to achieving the ambitious targets set out in the Paris Agreement.

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