We were standing at ground zero in the fight against climate change, looking at a still body of water and talking. Our group was gathered along the edges of a “farm pond,” a technique used by farmers to enhance agricultural resilience to climate change, which often impacts countries through crippling droughts. A farmer demonstrated the measures he had taken to protect his livelihood from the extreme weather events that were increasingly common in his region.
Middle East and North Africa
Morocco, the host of COP22 happening this week and next in Marrakech, is an example of a country that is working closely with the World Bank and other organizations to shift its economy onto a low carbon development path.
It just submitted its official climate plan, or nationally determined contribution, NDC, where it pledges a 42% reduction below business-as-usual emissions by 2030. This is 10 percentage points more ambitious than it previously laid out, ahead of Paris, and we see the plan affecting a growing number of sectors in the economy. Morocco plans a $13 billion expansion of wind, solar and hydroelectric power generation capacity and associated infrastructure that should see the country get 42% of its electricity from renewable sources by 2020, ramping up to 52% by 2030.
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
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Concentrated Solar Power is the greatest energy technology you have probably never heard of. While it may not be as widely known as other renewable energy sources, there’s no doubting its potential - the International Energy Agency estimates that up to 11 percent of the world’s electricity generation in 2050 could come from CSP.
And this week in Morocco, the King, His Majesty Mohammed VI, is officially opening the first phase of what will eventually be the largest CSP plant in the world – the same size as Morocco’s capital city Rabat. I congratulate Morocco for taking a leadership role that has placed it on the frontlines of a revolution that is bringing low-carbon development to emerging and developing economies worldwide.
In collaboration with the World Bank and the African Development Bank, the CIF has already provided US$435 million into this three-phase Noor CSP complex in Morocco.
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Si vous n’avez jamais entendu parler de l’énergie solaire concentrée, sachez que cette technologie est promise à un bel avenir. Moins connu que d’autres sources d’énergie renouvelable, elle n’en possède pas moins un fort potentiel de développement : selon l'Agence internationale de l’énergie, le CSP (pour concentrated solar power) pourrait être à l’origine de 11 % de la production mondiale d’électricité d’ici 2050.
C’est une révolution qui s’annonce, qui placera les pays émergents et en développement du monde entier sur la voie d’une croissance sobre en carbone. Et le Maroc en a pris la tête : cette semaine, le roi Mohamed VI inaugure officiellement la première phase de ce qui sera à terme la plus grande centrale solaire à concentration du monde — le futur complexe de Noor s’étendra sur une superficie égale à celle de Rabat, la capitale marocaine.
En collaboration avec la Banque mondiale et la Banque africaine de développement, les Fonds d’investissement climatiques (FIC) ont déjà fourni 435 millions de dollars en faveur de ce complexe solaire dont le développement se déroulera en trois phases.
Try to imagine a world without the Internet.
Impossible, isn’t it?
Over the past 25 years, the Internet has become the nervous system of our society, interconnecting all the different parts of our everyday lives. Our social interactions, ways of doing business, traveling and countless other activities are supported and governed by this technology.
At this very moment, just over three billion people are connected to the Internet, 105 billion emails are being sent, two million blog posts have just been written (including this one) and YouTube has collected four billion views. These numbers give you a glimpse of the extent to which humanity is intimately and deeply dependent on this technology.
The digital revolution has changed the daily lives of billions of people. But what about the billions who have been left out of this technological revolution?
This and many other questions have been addressed in the just released 2016 World Development Report 2016: Digital Dividends, which examines how the Internet can be a force for development, especially for poor people in developing countries.
According to the International Energy Agency (IEA), full implementation of countries’ submitted pledges for low-carbon development will require USD 13.5 trillion in investments in energy efficiency and low-carbon technologies from 2015 to 2030. That’s almost USD 1 trillion every year. This means all hands need to be on the deck if the global community is to address one of the biggest development challenges of our times.
Today, a group of 26 financial institutions from across the globe, including the World Bank Group, launched five voluntary Principles for Mainstreaming Climate Action within Financial Institution. The Principles are meant to support and guide financial institutions moving forward in adapting to and promoting climate-smart development, and have been developed based on practices implemented by financial institutions worldwide over the last two decades.
Climate change is affecting us all, but its impacts are hitting the poorest and those in poor countries hardest. That means developing countries vulnerable to sudden and slow-onset impacts of climate change need reliable and accurate weather and climate data and information to help them know when and how to protect their economies and communities.
The investment needs for low-carbon, climate-resilience growth are substantial. Public resources can bridge viability gaps and cover risks that private actors are unable or unwilling to bear, while the private sector can bring the financial flows and innovation required to sustain progress. For this partnership to reach its full potential, investors need to be provided with the necessary signals, enabling environments, and incentives to confidently invest in emerging economies.