Today, April 22, 2016, marks a key moment for the world with the signing of the historic Paris climate change agreement. A record number of world leaders are expected in New York at the United Nations Headquarters for the high-level signing ceremony.
It’s a clear sign that people recognize that the changing climate is impacting us now – the recent record-breaking temperature, spread of infectious diseases, and climatic conditions, are increasingly alarming and must be dealt with before it’s too late. Now is the time for action and for countries and governments to deliver on their promises made in Paris.
I’ve answered some questions that will better help explain why the signing of the Paris Agreement is critical and how we in the World Bank Group are stepping up our efforts to help countries deliver on their pledges.
Carbon pricing is increasingly being used by governments and companies around the world as a key strategy to drive climate action while maintaining competitiveness, creating jobs and encouraging innovation. The importance of carbon pricing was amplified in the run up to the global climate change agreement in Paris last December.
As countries move towards the implementation of the Agreement, it is the focus of a World Bank conference in Zurich this week which brings together over 30 developed and developing countries to discuss opportunities and challenges related to the role of carbon pricing in meeting their mitigation ambitions.
It has been nearly three months since 195 nations reached a historic agreement at COP21 in Paris to combat climate change and set the world on a path to a low carbon and more resilient future.
And in a little over a month, heads of state and governments will gather in New York to sign the Paris Agreement. Countries will then have one year to ratify the agreement, which will enter into force after it is ratified by at least 55 countries, representing at least 55 percent of global greenhouse gas emissions.
As we approach the signing of the agreement, it's time for countries and companies to seize the momentum from Paris and move from celebration of a landmark deal to action.
So what needs to happen?
When I started my career in the world of global development some twenty odd years ago, a number of female leaders inspired me. Rachel Carson had left an epic legacy with her book ‘Silent Spring; Wangari Maathai, the founder of the Green Belt Movement, had won a Nobel Peace Prize and Jane Goodall was reminding us all of nature conservation causes. And that’s just to name a few of those who were most visible.
One of my first experiences in the developing world was in Mozambique. While there, I saw the devastating impacts of floods not just at the national and community level, but especially on women and girls.
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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.
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.
Sub-Saharan Africa continues to suffer from a major energy deficit, with hundreds of millions of people lacking access to electricity and clean cooking fuels. There is a great need for innovative mechanisms that can help families access clean and affordable energy. The Carbon Initiative for Development (Ci-Dev) is one such mechanism.
A $125 million fund with a pipeline of 14 pilot projects in Africa, Ci-Dev will help improve living standards and sustainable energy through results-based finance. Along the way, it will generate valuable lessons in how reducing greenhouse gas emissions can generate tangible development benefits for local communities, like cleaner air, improved safety, and financial and time savings.
These lessons can help in the delivery and scale up of innovative climate finance business models.
Try to imagine a world without the Internet.
Impossible, isn’t it?
Over the past 25 years, the Internet has become the nervous system of our society, interconnecting all the different parts of our everyday lives. Our social interactions, ways of doing business, traveling and countless other activities are supported and governed by this technology.
At this very moment, just over three billion people are connected to the Internet, 105 billion emails are being sent, two million blog posts have just been written (including this one) and YouTube has collected four billion views. These numbers give you a glimpse of the extent to which humanity is intimately and deeply dependent on this technology.
The digital revolution has changed the daily lives of billions of people. But what about the billions who have been left out of this technological revolution?
This and many other questions have been addressed in the just released 2016 World Development Report 2016: Digital Dividends, which examines how the Internet can be a force for development, especially for poor people in developing countries.
Last Saturday, UN climate negotiators from 195 countries agreed on a historic climate change accord in Paris after two weeks of intense negotiations. While many of us were hoping for a hook that would support the use of markets, we were happily surprised to see the extent and detail on carbon markets that was ultimately included in the Paris Agreement.