A couple of days ago, my five year old declared that she wanted to be a Super Hero. From wanting to be a little pony a few months ago, she was moving up the role model chain. She, however, was more interested in finding out which monster she would have to fight. Without giving it much thought, I told her that the biggest monster she would have to fight was Climate Change.
she asked, suddenly very interested.
With the recent climate agreement in Paris, many countries are looking at improved energy efficiency as a way to reduce greenhouse gas (GHG) emissions to contribute to the agreed climate goal of keeping global warming below two degrees Celsius.
Innovative air-conditioning (A/C) technology, just launched by a Thai A/C manufacturer in cooperation with the Government of Thailand and the Federation of Thai Industries, will not only save consumers and the country energy, it will eliminate emissions of ozone depleting, high global warming refrigerants with little to no additional costs. At scale, this technology can play an important role in global climate mitigation efforts.
On Earth Day, April 22, history was written. World leaders from 175 parties (174 countries and the European Union) came together at the United Nations to sign the Paris Climate Change Agreement. The signing ceremony far exceeded the historical record for first-day signatures to an international agreement.
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.
Just consider some statistics. It’s estimated some one point four million people move to cities every week. And by 2050, we will add nearly 2.5 billion people to the planet, with 90 percent of the urban growth in that time taking place in developing countries.
Yet living in cities can be risky business. Many large cities are coastal, in deltas or on rivers and at risk from of flooding from powerful storms or rising sea levels. Globally 80 percent of the world’s largest cities are vulnerable to severe earthquakes and 60 percent are at risk from tsunamis and storm surges.
Over the past two years, the World Bank’s flagship climate change report series Turn Down the Heat and its complementary free Massive Open Online Course (MOOC) have helped bring important climate related issues to policy makers and concerned citizens, reaching nearly 39,000 people in more than 180 countries worldwide.
Now, with the adoption of the Paris Agreement at COP 21, we are ready to launch a new and exciting MOOC: “From Climate Science to Action – Turn Down the Heat Series”. The MOOC is delivered in association with the World Bank’s Open Learning Campus – the one stop shop for development learning. This interactive course focuses on region-specific impacts and opportunities for climate action in the context of the Paris Agreement. With an overview of the submitted National Determined Contributions (NDCs), it lays out implementation challenges and opportunities of the Paris Agreement.
Today, over 80 million tons of CO2 will be emitted from economies around the world. Tomorrow will be the same, as will the day after that. The emitted amounts of CO2 will likely stay in the atmosphere for hundreds, if not thousands of years, further compounding the challenges in reversing the current and expected effects of climate change.
This past December, in Paris, leaders of 195 nations of the world agreed that this trend must be reversed, signaling a historic turning point in the global fight against climate change. The Paris Agreement ratified a global consensus to limit the global average temperature rise to ‘well below 2°C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5°C above pre-industrial levels.’ Developing nations were at the forefront of this agreement, with almost every one of them setting carbon reduction goals. While the public sector will play a major role in helping achieve the ambitious targets, the sheer volume of investment required to support low-carbon energy, transportation, and agriculture projects throughout the developing world leaves a gap of hundreds of billions of dollars that only the private sector is in a position to fill.
This is Morocco’s Noor 1 concentrated solar power plant, the first phase of what will eventually be the largest concentrated solar power plant in the world. It is an impressive sight—visible even from space–and it holds the promise of supplying over 500 megawatts of power to over a million Moroccans by 2018. It also embodies the power of well-placed concessional financing to stimulate climate action. Low cost, long term financing totaling $435 million provided by the Climate Investment Funds (CIF) has served as a spark to attract the public and private investments needed to build this massive facility, and it is just one example of how the
- annual report
- solar energy
- sustainable forest management
- climate-smart investments
- climate resilience
- Sustainable Development
- climate investment funds
- climate finance
- renewable energy
- Climate Change
- Europe and Central Asia
- Middle East and North Africa
- Latin America & Caribbean
When you think of online auctions, what products come to mind? Perhaps electronics, collectibles or concert tickets, but it’s unlikely that you think of climate finance. However, the Pilot Auction Facility for Methane and Climate Change Mitigation (PAF) recently combined the two, and for this, we are thrilled to be awarded Environmental Finance’s Carbon Deal of the Year 2016.
Negotiators in Paris last December achieved a previously unattainable consensus among all countries — large and small, industrialized and developing — on a target for minimizing climate change.
They agreed to hold planetary warming to below 2 degrees Celsius, which can only happen by drastically cutting the greenhouse gas emissions that cause climate change.
Adhering to the target requires a de facto energy revolution that transforms economies and societies by weaning the world from dependence on fossil fuels. The magnitude of the task means strategies and spending on a scale far exceeding previous efforts.