New York this week plays host to Climate Week 2015, where business and government leaders are convening to make pledges and commit to actions to demonstrate that development does not have to come at the expense of the environment.
One year ago this event was a forum for the New York Declaration on Forests, a public-private compact to end natural forest loss by 2030.
Now one year on, the World Bank Group remains an active partner working with countries and companies to help turn forestry commitments into actions on the ground.
This week, the World Bank Group released the latest version of our annual State and Trends of Carbon Pricing report. It reports that today,
This represents the equivalent of about 7 billion tons of carbon dioxide, or 12 percent of annual global greenhouse gas emissions.
As world leaders come together at the UN General Assembly to adopt new sustainable development goals, climate change activists gear up for Climate Week in New York City and the Pope brings his message to the United Nations, a shared vision of our future is coming into clear focus.
If we are to eradicate poverty, we need to tackle climate change. And since 2008, the $8.1 billion Climate Investment Funds (CIF) has been showing it is possible for countries to pursue sustainable development in a way that does just that.
More than two decades ago, the world agreed on the need to confront climate change.
The U.N. Framework Convention on Climate Change (UNFCCC) emerged in 1992, spawning a variety of negotiating forums with the goal of preventing catastrophic impacts from planetary warming caused mostly by polluting societies.
It's easy to overlook the progress that has occurred since, because we still have so far to go. Droughts, flooding and cyclones that already seem to be the norm are just the latest warnings of what is coming, and preventing much worse requires immediate and aggressive action to drastically reduce greenhouse-gas emissions.
Private investors bought price guarantees for 8.7 million tons of methane emission reduction in an innovative auction, attracting bidders from across the globe.
The Pilot Auction Facility for Methane and Climate Change Mitigation (PAF) provides support to businesses that invest in climate friendly projects. The first pilot auction was held online on July 15, 2015, auctioning off price guarantees, or put options, targeting methane reducing projects.
By providing a floor price for captured methane, the PAF offers private investors a financial incentive to fund carbon capture. Using an auction maximizes the impact of public funds dedicated to slowing climate change.
Here’s my journal entry from the day – July 15 – auction day (at last!)
Also available in: Português
World Bank Group Vice President and Special Envoy for Climate Change Rachel Kyte talks about Brazil's shift toward green, inclusive growth and how innovative practices developed there have gone global. The next challenge: developing business models to invest in the restoration of degraded land.
Agriculture is central to feeding the world and reducing poverty.
But conventional forms of agriculture are often unsustainable and drive land degradation. Agriculture is also the world’s leading anthropogenic source of methane (52 percent) and nitrous oxide (84 percent) emissions, and the principal driver of deforestation worldwide. Agriculture and agriculture-driven land-use change contribute 24 percent of global greenhouse gas emissions.
We can’t fix what we don’t measure, which is why quantifying greenhouse gas emissions from agricultural production is a necessary step for climate-smart agriculture (CSA). Greenhouse gas accounting can provide the numbers and data that are important to solid decision making.
This week in London, the Prince of Wales brought together representatives from government, the private sector, and civil society around the goal of protecting and restoring tropical forests. The gathering took stock of forest commitments made at the UN Secretary-General's Climate Summit last September and identified priority actions for 2015 – a critical year for advancing progress on the inseparable issues of development, poverty, and climate change.
With all eyes on a new climate agreement in Paris later this year, healthy forests and landscapes are seen as critical to cutting greenhouse gas emissions to net zero before 2100. The key underlying question is how to best achieve a true transformation in how we manage our forest landscapes, which are still degrading at a rapid rate.
The latest report from the Intergovernmental Panel on Climate Change (IPCC) tells us that to rein in climate change and keep global warming under 2°C, we will have to start reducing emissions now and get to near net zero emissions within this century.
That won’t happen without healthy forests and soil storing carbon, and it won’t happen without climate-smart land-use practices that can keep carbon in the ground.
Together, agriculture, forestry and other land use changes account for about a quarter of anthropogenic greenhouse gas emissions. The sector can be a powerful source of emissions, but it is also a powerful carbon sink that can absorb carbon dioxide, providing a pathway to negative emissions. The IPCC authors estimate that with both supply-side and demand-side mitigation efforts – including reducing deforestation, protecting natural forests, restoring and planting forests, improving rice-growing techniques and other climate-smart agriculture methods, changing diets, and reducing the immense amount of global food waste – we can effectively reduce a large percentage of emissions from the sector and increase carbon storage to move the needle toward net zero.
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?