It is safe to argue that the issue of income and wealth inequality is nowadays at the center of political debate across the world. Leading intellectuals such as Thomas Piketty in his seminal work, “Capital in the Twenty-First Century,” and Joseph Stiglitz in “The Price of Inequality” have rigorously analyzed the evolution of this social phenomenon and argued that increased inequality and lack of opportunity are creating divided societies that are endangering the future of nations.
Those working in public health have for years documented and discussed how low and decreasing incomes, decline in standards of living, and lack of or limited access health care and other essential services contribute to inequalities in health, manifested in a widening gap in life expectancy between the rich and the poor.
. WWF estimates that the ocean economy is the 7th largest economy, valued at US$ 24 trillion. With more than 6 million women directly employed in the fishery sector, and global job numbers set to grow to 43 million by 2030, the oceans are roaring. Yet, its natural capital has been systematically undervalued and overdrawn. According to the Bank’s Sunken Billions Revisited report, we are foregoing about $85 billion a year in additional revenues due to the mismanagement of fisheries. It is imperative that countries and citizens make informed decisions on resources, spatial planning and other important factors including the costs of marginalizing poor communities and the loss or degradation of critical habitats.
But oceans are often neglected in the development discourse. Obtaining the SDG 14 goal on oceans was a gargantuan, albeit noble effort. The Financing for Development architecture, the “Life below Water” goal and the Intended Nationally Determined Contributions (INDCs) made in Paris, urge us to capitalize on a new narrative: long-term financing of sustainable ocean economies in a climate change context.
Enter Oceans 2030
This is why the Bank is looking at oceans anew. People who saw our Oceans 2030 banner asked us if George Clooney or Julia Roberts were attending the 2016 Spring Meetings. While neither could make it, 20 Ministers of Finance and their representatives came to the first high-level ministerial dialogue, “Oceans 2030: Financing the Blue Economy for Sustainable Development”.
With a cast including Bank VP Laura Tuck and Ségolène Royal, France’s Minister of Environment, Energy and the Sea (and COP-21 President), countries tackled complex questions about the ‘Blue Economy’. What’s stopping us from maximizing returns in jobs and GDP from a thriving blue economy with growing natural resource assets? How can we reduce uncertainty and produce sustainable, investable projects? Whether it is Seychelles’s blue bonds, USA on eco-tourism, the ‘Gabon Bleu’ or Colombia’s actions to address the inequality in coastal populations, countries are starting to see the merits of a balanced approach for harnessing the potential and wealth of oceans. They’re looking for ideas, finance, and knowledge to grow sectors like aquaculture, marine tourism especially cruises, marine biotechnology and cancer research.
As countries look to domestic resources to help meet the ambitious development agenda laid out in 2015, there is value in looking at international experiences where mineral wealth has become a dedicated revenue stream for financing development efforts, particularly for investing in human capital (via public health or education).
I walked among dead bodies of people blown up by bombs. I ducked and covered from bullets falling around my feet, and I was almost choked to death by an angry mourner. One of millions of Iraqis, I was trying to survive a brutal reality that never seemed to end.
I still cannot escape these images. I still smell the dead. I had to go to where death lay due to my job as a reporter. That job left many journalists, including one of my former colleagues at the Washington Post, dead.
As rewarding as it was, that job cost me my country. I had to seek refuge. Armed groups had taken every chance to attack journalists and their families, especially those who worked for American media. They kidnapped them, tortured them, and asked for ransoms to spare their lives. I did not want this to happen to my family.
Strategies to curb violence against women too often exclude the experiences of lesbian, bisexual, and transgender women. The Human Rights Campaign (HRC) is marking this year’s 16 Days of Activism to End Violence Against Women by highlighting the disproportionate violence and discrimination that many lesbian, bisexual, and transgender women face, and calls on the World Bank to develop policies that consider the unique needs of these women.
The laws are changing but the violence remains
Lesbian, gay, bisexual and transgender (LGBT) people have made great strides in the fight for full equality. As of today, 34 countries permit marriage or civil unions for same-sex couples, and many other countries have passed vital non-discrimination protections. For example, in the United States, the Violence Against Women Reauthorization Act of 2013 expanded non-discrimination protections for LGBT people to prohibit shelters and other domestic violence services from discriminating on the basis of sexual orientation or gender identity.
Sadly, lesbian, bisexual, and transgender women face disproportionate levels of violence at the hands of both strangers and intimate partners. A recent U.N. human rights report noted that LGBT people are at a disturbingly elevated risk of homicidal violence, highlighting the increased risk that lesbian, bisexual, and transgender women face because of gender-based discrimination. Another study by the Human Rights Campaign and the Trans People of Color Coalition estimates that transgender women in the United States face 4.3 times the risk of becoming homicide victims than the general population of women. Factors such as poverty or belonging to a racial minority exacerbated the incidence and rates of violence experienced. Transgender people are also more likely to experience violence from law enforcement, in homeless shelters, and in healthcare settings. The recent Transgender Day of Remembrance served as a stark reminder that transgender people around the world face disproportionate levels of violence: in the United States alone, at least 21 transgender people have been killed in 2015.
Here are some facts that you might not know:
- Over the last 60 years, Guatemala has lost almost half of its forests, much of it due to illegal logging.
- Built-up area around Lake Laguna in the Philippines has more than doubled between 2003 and 2010.
- The mining sector accounts for 10-15 percent of total water use in Botswana.
The results above are among the numerous NCA findings that are being generated every year, with support from a World Bank-led global partnership called Wealth Accounting and the Valuation of Ecosystem Services (WAVES). In response to the growing appetite for information on NCA, WAVES has set up a new Knowledge Center bringing together resources on this topic.
- Knowledge Center
- Carbon Tax
- united nations
- natural capital accounting (NCA)
- Wealth Accounting and the Valuation of Ecosystem Services (WAVES)
- Sustainable Development
- Latin America & Caribbean
- United States
- Trinidad and Tobago
- South Africa
- Costa Rica
In 1964, I came to the United States from South Korea, then an extremely poor developing country that most experts, including those at the World Bank, had written off as having little hope for economic growth.
My family moved to Texas, and later to Iowa. I was just 5 years old when we arrived, and my brother, sister, and I spoke no English. Most of our neighbors and classmates had never seen an Asian before. I felt like a resident alien in every sense of the term.
Too often, the conventional wisdom in diplomatic or scientific circles is that the general public doesn't know what's good for them when it comes to foreign policy or tackling global threats. It's too complicated, the experts say; the public wouldn't understand. Yet new polling suggests that many in the public understand very well how global infectious disease outbreaks pose a serious threat to their lives and economic security - and they know what should be done about it.
Since childhood, Gircilene Gilca de Castro dreamed of owning her own business, but struggled to get it off the ground. Her fledgling food service company in Brazil had only two employees and one client when she realized she needed deeper knowledge about what it takes to grow a business. To take her business to that next level, she found the right education and mentoring opportunities and accessed new business and management tools.
- financial inclusion
- International Finance Corporation
- Goldman Sachs
- Small Businesses
- Overseas Private Investment Corporation
- Career & Money
- Income Inequality
- Gender Gap
- Private Sector Development
- East Asia and Pacific
- Latin America & Caribbean
- Congo, Democratic Republic of
- United States