Syndicate content

United States

Unleashing the power of women entrepreneurs around the world: The smartest investment to unlock global growth

Jin-Yong Cai's picture
Jacqueline Mavinga, entrepreneur, Democratic Republic of Congo.  © John McNally/World Bank Group


​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.

What developing countries can learn from Alaska

Ted Chu's picture
The White Pass & Yukon summit train. © Ted Chu


I recently returned from vacation in Alaska, America’s final frontier. This place is massive, twice as big as Texas. It’s so remote that many of the conveniences Americans take for granted simply aren’t available. Prices are high, cell-phone coverage is sparse, and the state capital, Juneau, isn’t even accessible by road. It’s wonderful in summer, but during winter there are only six hours of dim sun.

For the 737,000 people who call Alaska home, life can be a challenge most of the year. The economy relies heavily on energy extraction (80% of state revenue is from petroleum) and the federal government (subsidies and military spending), plus fishing and tourism.

Let love rule: Same-sex marriage in the U.S. and the world

Nicholas Menzies's picture

Celebration in front of the White House on
Friday, June 26.
By the World Bank Sexual Orientation and Gender Identity Taskforce*

This past Friday, June 26, 2015, the US Supreme Court issued an historic decision in favor of equality – recognizing the rights of same-sex couples to get married across the entire United States. This is a moment of personal joy for thousands of families but also a momentous declaration of what equal protection of the law means. As a global development institution, the World Bank has an international workforce that reflects the diversity of its member countries. We welcome this decision of the US Supreme Court - not only for the justice it brings to LGBT staff, but also because it exemplifies principles that are fundamental to inclusive and sustainable development.

Along with the recent referendum in Ireland, same-sex marriages are now performed or recognized in 24 countries across every region of the globe, except for most countries in Asia – from South Africa to Mexico; Argentina to New Zealand.

Why is marriage important? In the words of Justice Anthony M. Kennedy who wrote for the majority in the historic decision of the US Supreme Court, “No union is more profound than marriage, for it embodies the highest ideals of love, fidelity, devotion, sacrifice and family. In forming a marital union, two people become something greater than once they were. ” And through the institution of marriage, LGBT families become visible to the state, and thus entitled to receive the benefits and protections that come with such recognition.

However, the decision on Friday is bittersweet.

Progress in the US and elsewhere comes against a backdrop of continuing – and in some cases worsening – discrimination in many parts of the world. 81 countries criminalize some aspect of being LGBT. ‘Anti-gay propaganda’ laws have rekindled ignorance, fear and prejudice in too many countries, and in 10 countries you can legally be killed simply for being who you are.

G7 recognizes need for deep emissions cuts. Now for action

Rachel Kyte's picture
Also available in: Español | Français

G7 meeting in Germany. Bundesregierung/Gottschalk


This weekend, the leaders of the G7 committed to a series of actions that mark their first serious recognition of the economic transformation that is ahead of us.
 
Collectively, they recognized the need to decarbonize the global economy, enshrining in economic cooperation what the scientists in the IPCC told us last year in their Fifth Assessment Report. They called for ambition at the Paris climate talks this year – not new, but they recognized that they, individually and collectively, need to be in the upper part of the ambition bracket and that that means at least a “transformation of the energy sector by 2050.”
 
They talked about the mobilization of capital for this transformation, as well as ending the increasingly profligate use of harmful fossil fuel subsidies. Recognizing the need for an orderly transition to low-carbon growth as quickly and as smoothly as possible, they took on some degree of leadership around the pledge to provide $100 billion in climate finance for developing countries from public and private sources before 2020. More on that in a moment.

Getting to 100% renewable: dream or reality?

Oliver Knight's picture
© Abbie Trayler-Smith Panos Pictures UK Department for International Development via Creative Commons
​Attending the Future of Energy Summit last month, an annual event hosted by Bloomberg New Energy Finance, I was struck – for the second year running – by the rapid pace of cost reductions and innovation happening across the clean energy spectrum. With the news that a recent solar photovoltaics tender in Dubai obtained bids at less than US6c/kWh, to major investments in electricity storage and electric vehicles, to increased interest in demand-side management at the grid and consumer level, the message is clear: clean energy has most likely reached a crucial tipping point that will start to suck in increasing levels of investment. Some commentators also noted the opportune timing: with capital investment in upstream oil production sharply curtailed due to falling global prices, there is potentially a lot of financial capital looking for a home.
 
But perhaps one of the more interesting messages was the one coming from progressive regulators here in the U.S. The head of the California Public Utilities Commission, Michael Picker, noted that with renewable energy already supplying 40% of the state’s electricity a few days last year, the target for 50% renewables by 2030 is “not really a challenge”. Perhaps more interesting, he seemed very relaxed on reaching 100% renewables at some point in the future, on the back of strategic generation placement, transfers to neighboring states, and embedded storage. And note that we’re not talking about large hydropower here, which supplies between 6-12% of California’s electricity and is unlikely to increase.

Establish a national PPP Unit to support bottom-up infrastructure investment

Robert Puentes's picture
Photo: flickr/cmh2315fl
By any measure, the United States is a laggard in terms of public-private partnership (PPP) projects. Between 1985 and 2011, there were 377 transportation PPP infrastructure projects funded in the U.S. Those projects comprised just nine percent of the total nominal costs of infrastructure PPPs around the world. Europe leads the infrastructure PPP market, concentrating more than 45 percent of the nominal value of all PPPs.

There appear to be several discrete, but related, reasons why the U.S. has been slow to pursue PPPs in comparison with European and Asian countries:
  • In some cases, there is a lack of consensus, institutional capacity, and expertise to properly promote the benefits and costs of PPP deals. In Pittsburgh, for example, an arrangement to lease the city’s parking operations to a private entity collapsed when the city council voted against the transaction.
  • Deals are getting more complex, politically heated, and cumbersome as some stretch across jurisdictions and even international borders, as is the case with the New International Trade Crossing intended to connect Detroit to Windsor, Ontario.
  • With state and municipal finances under strain, the public sector is trying to transfer greater responsibility to the private sector, including in the arena of project financing.
In this regard, the U.S. Government Accountability Office recently noted that while the U.S. has done much to promote the benefits of PPPs, it needs to do more to assist states and metro areas in thinking through potential costs and trade-offs, as well as assessing national interests.

Thinking globally: Local governments leading the way to a global climate solution

Thomas Kerr's picture
California wind power. Bryan Siders/Creative Commons


The Canadian Province of Ontario announced last month that it would join California and Quebec in linking their cap-and-trade programs to curb greenhouse gas emissions. The move was met with approval by carbon market watchers, as local governments showed how they could avoid the lengthy political battles sometimes faced by national governments preparing submissions to the United Nations Framework Convention on Climate Change.

At a time when governments are looking for ambition, could this sort of local government action be the start of something much bigger?

Last week, I attended the Navigating the American Carbon World (NACW) event in Los Angeles to explore whether the momentum we are seeing to price carbon is evident on the ground. I found a lot of local government leadership on climate change.

Food for thought

Kalyan Panja's picture
Webcast Replay



Appetizer of grasshoppers, seaweed soup, and as the main course, man-made burgers on the grill. Been twisting the nose? Yet we should get used to similar menus. According to UN estimates, to feed the 2.5 billion additional people, according to some forecasts, who will populate the Earth in 2050, we will need to double world food production, reduce waste, and experiment with food alternatives.

Snowmelt, climate change and urban pollution—new perspectives

Tracy Hart's picture
Image by U.S. National Climate Assessment via Washington PostIt's been a snowy winter—not only here in Washington D.C., but also in places I travel, namely Jerusalem and Amman. The past week, the snowmelt runoff into Rock Creek in D.C. has been a sight to watch. It's also been a teachable moment for my daughter: we've talked about how snowmelt contributes to surface water flows.

Actually I talk, and she goes "okay, okay" looking out the window.

She and I have learned a few new facts to share: one is the linkage of irregular precipitation associated with global climate change.

Chris Mooney, the environment and climate change writer for the Washington Post, recently wrote a great article explaining why more snow is another result of climate change. D.C. is on the south border of the NE of the United States, where, as you can see from the map, (provided by the US National Climate Assessment), extreme rain/snow events have increased dramatically. Similarly, in Jerusalem three weeks ago, the snow came with sleet, blueberry-size hailstones (see below) and lightning.

Vulnerable yet invaluable: Protecting our patrimony by safeguarding art, artifacts, archaeology and assets

Christopher Colford's picture

The spectacular recovery of a long-missing painting by Pablo Picasso – a canvas that had been stolen more than a decade ago, in a daring museum theft in Paris – offers a vivid reminder of the illicit worldwide trade in stolen assets, artworks and archeological artifacts. Preventing the cross-border smuggling of stolen money, art and natural treasures poses a stern challenge to law-enforcement authorities. Yet the vigilance of the international network of corruption-hunters and asset-trackers can often result in a triumph, as illustrated by the case of the now-recovered Picasso.

The art world hailed last week’s revelation that “La Coiffeuse,” painted by Picasso in 1911, had been intercepted in December by U.S. Customs and Border Protection officials. The painting was identified during its shipment to a climate-controlled warehouse in Long Island City, New York, and it was then seized while it was in transit at Port Newark, New Jersey. The work – unseen since its 2001 theft from the Centre Georges Pompidou in Paris – had been shipped on December 17 from Belgium to the United States in an innocent-looking FedEx container, adorned with a holiday-season tag marked, “Joyeux Noel.” Its shipping registration papers falsely described it as an “art craft/toy” valued at $37. The legal process that began last week in New York should soon have the canvas on its way back to France, where it is owned by the nation.

The Picasso had been assigned an estimated value of about 2 million euros at the time of its theft in 2001 – suggesting how lucrative the underground market for stolen art may be. Despite any such theoretical valuation, however, such cultural riches are truly beyond price: They belong to humanity’s shared patrimony, and thus their theft is an immeasurable crime against history.



"La Coiffeuse" by Pablo Picasso. Photograph via the U.S. Department of Justice.

The sudden recovery of the Picasso has reminded art-watchers – and law-enforcement officials – that the 25th anniversary of a still-baffling crime is fast approaching: the March 18, 1990 theft of $500 million in artworks from the Isabella Stewart Gardner Museum in Boston. That theft deprived the world of, among other masterpieces, Rembrandt’s “Christ in the Storm on the Sea of Galilee,” painted in 1633. Despite occasional rumors that some of the stolen works might be available somewhere on the global black market, that crime remains unsolved – and the criminals, part of the vast international network of art thieves and smugglers, remain at large.

Police agencies and global asset-trackers certainly face a herculean task. International plunder takes many forms – from the “grand-scale corruption” that infects fraudulent banking transactions to the looting of countries’ wealth by dictators and kleptocrats. Cracking down on the illicit flows of funds worldwide – which are sometimes abetted by corruptible accountants and pliant lawyers, who help steer loot to safe havens and stash money in offshore tax-dodging accounts – requires persistent detective work and meticulous forensic accounting. In the case of stolen art treasures, the art world must appeal to the conscience of connoisseurs and dealers – and must rely on the integrity of curators at museums large and small, who surely know better than to traffic in property whose provenance might be even slightly suspicious.

Units like the Stolen Assets Recovery (StAR) Initiative – a joint effort by the World Bank and the United Nations Office of Drugs and Crime – patiently promote cooperation among transnational, national and local law-enforcement bodies. That task requires a commitment for the long haul, as they steadily pursue capacity-building among governments and private-sector watchdog agencies that are determined to build their anticorruption capabilities. Closer legal, technical and financial coordination sans frontières is an indispensable tool in hunting down and repatriating looted lucre.

As in the case of the now-recovered Picasso, the effort to protect priceless artworks sometimes ends in a law-enforcement success. In a just-opened art exhibition in Washington, art-watchers can now get an up-close look at an inspiring example of how a strong national commitment to fighting crime – backed by methodical investigative work and tenacious legal processes – can achieve enduring results.

The Embassy of Italy last week opened an exhibition of irreplaceable artworks that might have forever vanished onto the international black market, had it not been for the work of one of the country's specialized military units: the Guardia di Finanza, which since 1916 has protected Italy from smuggling, drug trafficking and financial crimes. Its specialized art-investigations team, the Gruppo Tutela Patrimonio Archeologico, has successfully prevented the theft of many works of art, some of which can now be seen (by appointment) at the Embassy on Whitehaven Street. Treasures such as these are integral to Italy’s culture and the West's heritage.

In opening the exhibition, Ambassador Claudio Bisogniero noted that “the trafficking of archaeological works is a growing phenomenon that in recent years has spiraled upwards at an alarming rate” – with Italy ranking “first among the countries [that are] victims of this crime. . . . These treasures belong to Italy. But they also belong to European identity and, by extension, to all mankind.”

With the Picasso canvas soon headed back to Paris, and with the recovered art and archaeological treasures now being celebrated at the Embassy, arts-watchers can breathe easier, knowing that these masterworks are secure. But protecting the global patrimony requires the constant vigilance of corruption-hunters and asset-trackers – like the Guardia di Finanza, the StAR unit and their law-enforcement allies worldwide – who stand guard against the plunder of the vulnerable yet invaluable assets that comprise the common heritage of humanity.



Pages