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What a Waste: Time to Pick It Up

Dan Hoornweg's picture

What a Waste publication coverAsk any city manager or mayor what their top priority is and you’re likely to get ‘solid waste’ as an answer. You would think in today’s age we would have solved the waste management challenge and moved on to the next slightly more glamorous municipal service. Not so; and more than ever cities now need to pick it up a notch on solid waste management.

Solid waste is still probably the world’s most pressing environmental challenge. In poorer countries, solid waste can use up to more than half of a city’s overall budget; around the world there are more solid waste workers than soldiers; and despite the more than $225 billion spent every year on solid waste, in many low income countries less than half the waste is collected in cities.

Art Contest Winners Announced

South Asia's picture

The results are in! The selection committee has chosen 25 winners in the World Bank’s Imagining Our Future Together art contest for young artists.

"With sensitive brush strokes and unusual photo angles, the young artists of Imagining our Future Together offer jointly for the first time a harmonious and joyous regional song of beauty, poetry, irony, and talent," said Marina Galvani, art curator for the World Bank.

Caught bribing foreign officials: Have you ever wondered where the money companies pay in sanctions is ending up?

A decade ago, prosecutions of companies for paying bribes abroad were rare.  Today, you can open the business section of almost any major newspaper and find a story about a company under investigation for bribery of foreign officials.
The good news is that these prosecutions are truly on the rise globally.  While the United States has continued to lead the field, the authorities in many countries have now succeeded in holding companies liable for foreign bribery or closely-related offenses.  To name a few, these include the United Kingdom, Germany, Switzerland, Canada, Denmark, Italy, the Netherlands and Norway.  Even some international institutions, such as the World Bank, are also moving towards such negotiated resolutions – but those private administrative actions are not the topic of this blog.

The bribes being paid to foreign officials often amount to more than just small change. Credit: Incurable_Hippie, Flickr Creative Commons

Have we seen a lot of trials?   Not at all.  Around the world, the preferred method of resolving foreign bribery cases is not through trials in court, but rather through shorter court procedures, plea bargains and other forms of mutual resolution.   Even in civil law countries.

Lessons from Recent Crises and Current Priorities for Finance Practitioners and Policy-Makers

Maria Soledad Martinez Peria's picture

On May 14-18 the World Bank held its annual Overview Course on Financial Sector Issues in Washington, DC. Geared towards mid-career financial sector policy-makers and practitioners, the objective of this one-week event was to discuss issues of current and long-run importance to the development of the financial sector. This year’s course focused on Lessons from Recent Crises and Current Priorities for Finance Practitioners and Policy-Makers. The timing was quite fitting—the course took place the same week that JP Morgan’s billion-dollar trading became public and the European crisis intensified as Greek banks suffered large deposit runs.

Perhaps not surprisingly in light of recent events affecting the financial sector in the US and Europe, three main broad themes resonated in many of the sessions of the course: (1) the need for more and better bank capital, (2) the importance of putting in place the right incentives for banks to limit the risks they take, and (3) the role of macroprodudential regulation in monitoring and limiting systemic risk.

Roadmapping for Entrepreneurs in Africa

African innovators exchange ideas at OIAS. Credit: Heidi Humala)One  could feel the ‘buzz’ at the Open Innovation Africa Summit² in Nairobi. Enthusiasm was teeming, lots of energy displayed in animated discussions and business cards eagerly switched hands at the event, organized by the World Bank’s infoDev and Nokia, which brought together more than 150 inspirational people from across the continent.  Sleepy summits come and go, but these three days of sharing, debating and mapping out action plans across four discussion streams all dealing with entrepreneurship gave everyone something tangible to go home with; tools and networks that can create and grow better companies, foster better business environments, and link entrepreneurs to capital.

On Optimism and Caution: Connecting East Asia

Kevin Lu's picture

It was all about connectivity in the just-concluded World Economic Forum for East Asia that took place in Bangkok last week. Participants pondered many questions related to how we could make this region more connected, in terms of trade, tourism, investments, and even value.

In a session on infrastructure financing, IFC Vice President Karin Finkelston spoke eloquently about the need to mobilize financing for many developing countries in Asia and what IFC has been doing in terms of both investing and advising governments to prepare bankable projects. When Professor Joe Stiglitz on the same panel raised his proposal to establish an ASEAN development bank, it received mixed feedback from the fellow panelists.

Join Us for a Live Chat about Rio+20 on World Environment Day

Rachel Kyte's picture

Credit: Henrique Vicente, Creative Commons

On June 5, World Bank Vice President for Sustainable Development Rachel Kyte will host a live online chat about Rio +20 and sustainable development at live.worldbank.org. Submit questions now, and then join Rachel Kyte and economist Marianne Fay on June 5 at 14:00 GMT/10 a.m. EDT.
 

Rio +20 is coming up in a few weeks. Some 75,000 leaders, advocates, scientists and other experts are expected in person, and tens of thousands more will be watching online to see how the world can advance sustainable development.

Many of us have been advocating for greener, more inclusive growth since before the first Earth Summit at Rio 20 years ago. We’ve seen economic growth lift 660 million people out of poverty, but we’ve also seen growth patterns run roughshod over the environment, diminishing the capacity of the planet’s natural resources to meet the needs of future generations.

The growing global population needs world leaders to do more than just check in at the UN Conference on Sustainable Development, Rio+20 – it needs them to move the needle now toward truly sustainable development practices.


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