The remarkable pace at which nations of the world have ratified the Paris Agreement on climate change gives us all hope. It signals the world is ready to take the actions we need to keep global warming below 1.5 degrees Celsius. We know, however, that delivering on Paris comes with a high price tag, and that we need to help countries not just transition toward renewable energy but unlock the finance needed to get there.
Amid the enormous challenge ahead, I want to emphasize .
Ethiopia, the single largest African coffee producer and the world’s fifth largest, is commonly considered to be the birthplace of coffee. It’s hardly a surprise that when you survey the landscape of Ethiopia’s Oromia region, an area the size of Italy, it is bespeckled with native Coffea arabica farms.
In Ethiopia, . So it was quite fitting to focus on the country’s smallholder coffee farmers in Oromia for a project to help promote climate-smart “green” practices.
This week, the World Bank Group’s BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL) announced it was taking part in a project together with the Bank Group’s private sector arm, the International Finance Corporation (IFC), along with the international coffee company, Nespresso and the non-profit, TechnoServe.
- BioCarbon Fund Initiative for Sustainable Forest Landscape
- International Finance Corporation
- Climate Smart Agriculture
- sustainable forest management
- Climate Change
- Private Sector Development
- Agriculture and Rural Development
The day kicked off with the High-level Event on the Entry into Force of the Paris Agreement, hosted by Secretary-General Ban Ki-moon in the General Assembly. Ban Ki-moon declared that more than 55 countries had formally joined the Paris Agreement on climate change signed by world leaders this past April, thus officially crossing one of the two thresholds required to bring into force the landmark pact that seeks to put the world on a path towards low-carbon growth and a more sustainable future.
“There is no time to waste. Today will take us one step closer to bringing the Paris Agreement into force this year,” the UN chief stressed. With the recent announcement that India is committed to ratifying the Paris Agreement, it looks like it is increasingly a done deal.
Last month, a new wind farm began spinning its blades in Jamaica. At 36 megawatts (MW) it became Jamaica’s largest private-sector renewable energy project, set to diversify the country’s energy matrix, reducing its high electricity prices and generating significant environmental and social benefits.
People have been harnessing water to produce energy and perform work for thousands of years. The ancient Greeks used watermills to grind wheat into flour. Ancient Romans used the power of water to cut timber and stone. During the Han dynasty in China, hydraulically operated pumps raised water for crops into irrigation canals. .
Today it represents 16.6 percent of the world’s total electricity production while contributing 80% of the global renewable electricity mix.
Here’s something you may not be aware of:It’s a statistic that matters in the face of two unrelenting challenges now facing the globe –how to turn the promises of last December’s historic Paris climate change agreement into reality and how to feed a growing global population.
, improving educational outcomes, safeguarding food and minimizing its waste, improving healthcare, and supporting countries’ digital ambitions (that computer of yours heats up pretty fast). And all of this, from improved productivity to education to health, is vital to eliminating extreme poverty and boosting shared prosperity across the globe.
First published by Capital Finance International.
Soon the world will celebrate the one-year anniversary of the historic climate agreement signed in Paris in December 2015. The agreement will be implemented through country-led greenhouse gas (GHG) emissions reduction commitments known as their intended Nationally Determined Contributions (NDCs), which to date have been submitted by 189 countries covering 95 percent of global GHG emissions.
Apart from signaling concrete commitments, these reduction targets also offer a clear signpost of the investment direction countries need to follow as the global economy steers towards a low-carbon, climate-resilient pathway. Estimates point to between $57 trillion and $93 trillion in new low-carbon, climate resilient infrastructure investment by 2030. How developing countries evaluate and respond to their infrastructure needs will greatly determine their ability to meet GHG reduction commitments.
- Intended Nationally Determined Contributions (INDCs)
- private sector investment
- LAC Climate Business Forum
- low-carbon development
- Clean energy
- climate investment
- climate-smart investments
- Private Sector Development
- Climate Change
- Latin America & Caribbean
- climate finance
Just consider a few simple statistics. On average, more than 1,000 lives are lost every year in the Philippines, with typhoons accounting for 74 percent of deaths, 62 percent of the total damages, and 70 percent of damages to agriculture.
Typhoon Haiyan struck in November 2013, known as Super Typhoon Yolanda in the Philippines, one of the strongest tropical cyclones ever recorded. The country though is also highly exposed to other hazards, including earthquakes and volcanic eruptions.
It does not happen often that one of the finest actors of our time tweets about a World Bank supported project and invites all his fans to have a look at the impressive pictures taken from space. In fact, I can’t remember having seen that before.
But this is what Oscar winner and climate activist Leonardo DiCaprio did a few months ago when the Noor Concentrated Solar Plant (CSP) in Morocco—the largest CSP plant in the world - was opened. Once finalized, in two years, it will provide clean energy to 1.1 million households. I visited the plant two weeks ago and it is truly an impressive site. The indirect benefits of the project might even be larger: it has advanced an important and innovative technology, it has driven down costs of CSP, and it holds important lessons for how public and private sectors can work together in the future.
I am proud that the World Bank, jointly with the African Development Bank and a number of foreign investors, supported this cutting-edge solar energy project. But it was made possible thanks to the Climate Investment Funds (CIF), which put in US$435 million to “de-risk” the investment, playing an essential role to kickstart the deal.