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As the Paris Agreement becomes reality: How to transform economies through carbon pricing

Laura Tuck's picture


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 the transformative economic opportunity that putting a price on carbon pollution presents.

Reasons for optimism in closing the infrastructure financing gap

Jason Zhengrong Lu's picture

There is no doubt a significant financing gap exists for investments in infrastructure in emerging markets and developing economies, a gap that stands in the way of funding projects crucial to providing basic services to transform living conditions across the globe. We at the Global Infrastructure Facility (GIF) recognize that addressing the infrastructure gap can get us closer to eliminating poverty and boosting shared prosperity.
 
After attending a discussion with a prestigious panel of finance ministers and senior financiers at the event “Making Infrastructure Rewarding,”—hosted by the GIF on the eve of the IMF-World Bank Group’s 2016 annual meetings in Washington, D.C, I feel there is a lot to be optimistic about in the way infrastructure is viewed and financed using the right instruments to fill the gap.
 
Given the standing-room-only attendance at the event—which was also live-streamed—and the number of comments and tweets that came in using #investininfra, there is clearly enormous interest in how we get from point A to B.

Your air conditioner is making you cooler, and the world warmer. We can change that.

Karin Shepardson's picture
Also available in: Español - French - Arabic 
Copyright: Sławomir Kowalewski


Cooling and refrigeration are essential to increasing labor productivity, 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.

Free, French course on PPPs offers customized case studies, relevant regional perspectives

Olivier Fremond's picture
Free, French course on PPPs



As a former country manager in Benin, my team and I advised the national administration on the Public-Private Partnerships (PPP) Project Law then under consideration and engaged in PPPs. This effort took place after the private sector, both domestic and international, made a strong commitment to finance large infrastructure programs. Timing is everything, of course, and the window for passing the legislation through parliament before legislative elections was tight – ultimately, too tight. A better understanding of PPPs and the options these partnerships can offer to a country like Benin, which needs substantial infrastructure investments, would have helped the process tremendously.

At the time, however, PPP educational options for French speakers were scarce. Although plenty of PPP resources exist in English, many fewer tools are available for Francophone African countries. These tools are critical to understanding PPPs, creating and adopting legislation, applying PPPs when they may serve a need, and knowing when not to use them to secure infrastructure services.

How public-private partnerships can play a constructive role in global economies in 2016

Geoffrey Keele's picture

With 2015 firmly behind us, it’s time to reflect on the past year’s global economic trends -- while looking forward at the challenges and opportunities facing countries around the world. Check out the articles below for diverse and thought-provoking perspectives on how public-private partnerships can play a constructive role in global economies throughout 2016 and beyond.   

Supporting India’s next generation of bright tech and science minds

Jessica Lee's picture
Ajay (third from right) was a Mitacs Globalink research intern at the University of Toronto.


With the Indian economy poised to be among the fastest growing economies in the world, there is great demand for world-class engineers to drive domestic value-addition, innovation and make the economy even more competitive globally. In this context, the Indian government’s Technical/Engineering Education Quality Improvement Project (TEQIP), supported by the World Bank, has been working with engineering colleges across the country to make them more responsive to a rapidly changing technical environment.

How to bring discussion about financial issues into the classroom

Ivor Beazley's picture
The 2008 financial crisis was a “wake up” call to many teachers in the United States and Canada. As families lost their homes and parents lost jobs, they began to appreciate the importance of kids leaving school with some knowledge of the world of finance – especially about how personal decisions are made about finance and how financial decisions taken by government directly affect their lives and future prospects. 

A study group from Moscow and five regions of Russia recently visited Canada and the US to learn more about initiatives in those two countries and to bring discussion about financial issues into the classroom – with the idea of turning today’s students into active and responsible citizens of the future, able to make well-informed personal financial decisions and to engage in discussions about public finances on behalf of themselves and their communities.

Appointing a gender equal cabinet is good for Canada – but not for the reason you think

Florence Kondylis's picture

Also available in: Français

Recently, Canada’s newly elected Prime Minister, Justin Trudeau, appointed a cabinet that is 50% female. Explaining the choice, Trudeau stated that it was important “to present to Canada a cabinet that looks like Canada” – and “because it’s 2015.”

The announcement has been greeted with considerable backlash in the press, with some news outlets going as far as to imply that promoting diversity is not good for governance. This view implies an either or – that appointing women and incorporating gender balance, while good for the country’s diversity, would undermine the quality of governance. One could probably name many male candidates who on paper look more accomplished than some of Trudeau’s appointees.

Natural Capital Accounting: Going beyond the numbers

Stig Johansson's picture
Guatemala. World Bank

Here are some facts that you might not know: Do these numbers just seem like bits of trivia? In fact, these are all important results that came out of natural capital accounting (NCA) – a system for generating data on natural resources, such as forests, energy and water, which are not included in traditional statistics. NCA follows standards approved by the United Nations to ensure trust, consistency and comparison across time and countries.
 
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.

Long-term finance for infrastructure essential to ending poverty

Bertrand Badré's picture
A worker at a power substation in Kabul, Afghanistan. © Graham Crouch/World Bank


​Fifteen years from now, will you remember where you were when the UN General Assembly adopted the Sustainable Development Goals (SDGs)?

Friday, September 25, 2015 may not be one of those days that the general public will remark on, but it is a milestone in development history. The SDGs set a new and ambitious agenda that we at the World Bank Group, together with our partners, will work to achieve along with our own goals of ending poverty and boosting shared prosperity by 2030.


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