Investing in climate change mitigation

The Kyoto Protocol is an international agreement to limit greenhouse-gas emissions. Obviously, such forecasts provide only a rough estimate of the additional cost facing climate-vulnerable developing countries. A higher cost of sovereign debt has a broad impact on an economy as it also raises the cost of capital that the private sector has to pay.

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Climate change is an acute threat to global development and efforts to end poverty. Without urgent action, climate change impacts could push an additional million people into poverty by Countries need sustainable economic growth and good development outcomes and climate change puts both at risk. The World Bank Group helps countries deliver on their growing demand for clean air and water, healthy oceans, resilient cities, sustainable food and agriculture systems. Scaling up finance quickly is critical but public budgets alone are not. We are actively working with countries to help them deliver on and exceed their Paris ambitions, including through financing, technical assistance, and knowledge sharing.

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Climate change mitigation consists of actions to limit the magnitude or rate of long-term global warming and its related effects. According to the IPCC’s assessment report , «Mitigation is a public good; climate change is a case of the ‘ tragedy of the commons ‘. Effective climate change mitigation will not be achieved if each agent individual, institution or country acts independently in its own selfish interest see International cooperation and Emissions trading , suggesting the need for collective action. Some adaptation actions, on the other hand, have characteristics of a private good as benefits of actions may accrue more directly to the individuals, regions, or countries that undertake them, at least in the short term. Nevertheless, financing such adaptive activities remains an issue, particularly for poor individuals and countries. Examples of mitigation include reducing energy demand by increasing energy efficiency , phasing out fossil fuels by switching to low-carbon energy sources, and removing carbon dioxide from Earth’s atmosphere.

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Climate change is an acute threat to global development and efforts to end poverty. Without urgent action, climate change impacts could push an additional million people into poverty by Countries need sustainable economic growth and good development outcomes and climate change puts both at risk. The World Bank Group helps countries deliver on their growing demand for clean air and water, healthy oceans, resilient cities, sustainable food and agriculture systems.

Scaling up finance quickly is critical but public budgets alone are not. We are actively working with countries to help them deliver on and exceed their Paris ambitions, including through financing, technical assistance, and knowledge sharing. This initiative, co-chaired by Mr. The reporttackled concerns about industrial competitiveness, finding that these can be addressed through strong carbon pricing policies.

The conference brought together practitioners and researchers to take stock of the carbon pricing knowledge base and foster an improved understanding of the evolving challenges to its successful application. It is the first country in Africa to pass a national carbon tax.

In addition to the installation, X Ray Fashion is now available in headset form. The film advocates for increased attention and involvement in sustainable land management so that young people in particular can take part in the regeneration and renewal of their land. IDA helps the poorest nations adapt to climate change by building their resilience to disasters, and promoting sustainable development to minimize their vulnerability.

The Carbon Pricing Leadership Coalition brings together leaders from across government, the private sector and civil society to share experience working with carbon pricing and to expand the evidence base for the most It brings together ministers and senior technical specialists from finance ministries across the world, as The Forest Carbon Partnership Facility is focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest The BioCarbon Fund Initiative for Sustainable Forest Landscapes is focused on reducing emissions from the land sector through smarter land use planning, policies, and practices.

This interactive dashboard provides an up-to-date overview of carbon pricing initiatives around the world and allows users to navigate through the visuals and data of the annual State and Trends of Carbon Pricing report Understanding Poverty Topics Climate Change.

This page in: EN dropdown. Climate Change. Climate Change Home Overview. Achieving the goals of the Agreement will require decisive and bold action. The World Bank supports client countries in their efforts to implement their national climate commitments, including their nationally determined contributions NDCsin their follow up to the Paris Agreement.

The World Bank Group has supported the governments of Chile, Mexico and Colombia to adopt carbon taxes, maximizing synergies between air pollution management and climate change mitigation. For example, the World Bank helped the city of Beira in Mozambique strengthen its resilience to weather-related hazards; rehabilitating its storm water drainage system and installing flood control stations and a water retention basin.

When Cyclone Idai hit in MarchBeira faced less damaging flooding than other parts investing in climate change mitigation the country. Generating MW of clean energy, the Noor complex will soon produce clean power for 1. Policies, such as carbon pricing, can help create incentives for transformational change. Carbon pricing represents a simple, flexible, low-cost, fair and efficient policy option to address climate change.

It can also deliver additional benefits, reducing air pollution and congestion while avoiding the increased costs of remedial measures associated with high-carbon growth paths. For businesses, carbon pricing enables them to manage risks, plan their low-carbon investments, and drive innovation. However, to shift investment at scale, carbon pricing coverage must expand, and prices must be stronger. Since signing the Paris Agreement inalmost 20 new carbon pricing initiatives emerged, including major programs at the national level in Canada, China and across Latin America.

More than developing and middle-income countries have submitted national plans for climate action under the Paris Agreement — the Nationally Determined Contributions NDCs.

All World Bank projects are now screened for climate and disaster risk to ensure that they build the resilience of people on the ground. Since fiscal yearall applicable investment lending projects incorporate shadow price of carbon in the economic analysis. The MDBs are continuing to align their financial flows to help countries meet the Paris Agreement, supporting the implementation of the NDCs and facilitating activities that transition development towards low greenhouse gas emissions and climate resilient development.

In partnership with the UN, the World Bank Group co-launched in September a platform for climate action, Invest4Climatedesigned to bring together national governments, financial institutions, investors, philanthropies, and multilateral banks to support transformational climate investments in developing countries.

Innovate4Climate I4C an integral part of the global dialogue on climate finance, climate investment, and climate markets. It convenes leaders from business, banking, finance, policy, and technology to think innovatively about how to leverage and direct investment toward low-carbon economies.

The third edition of I4C was held in Singapore in June Energy The World Bank is committed to helping countries deliver modern, reliable, sustainable, and affordable energy for all.

Over the last five years FYthe World Bank directly contributed to providing new electricity connections for more than 52 million people. Projectwhich has doubled the solar capacity of the state of Madhya Pradesh and is one of the largest single-site solar plants in the world. The project is expected to avoid 0. These measures are expected to generate an estimated 15, GWh of energy savings and avoid On a lifetime basis, energy savings associated with this deployment is aboutGWh of electricity and corresponding avoided CO2 emissions of nearly 90 million tons.

In Bangladeshthe World Bank supports the largest off-grid program in the world, powering 2. More than 6. Anotherhouseholds will be connected to the grid by and off-grid electricity will be extended toadditional households.

The project will also provide electricity to 13, more clinics, schools and religious buildings and fund technical assistance to build capacity among local staff to implement the plan and improve policies with the goal of achieving universal access by The facility is expected to help mobilize several billion dollars in private sector funding, unlocking investments through risk mitigation for exploration and early production drilling.

Scaling Solar investing in climate change mitigation together a suite of World Bank Group services under a single engagement to help create viable markets for solar power in each country. NBS use local ecosystems to build resilience, avoid maladaptation, and protect biodiversity. Sincethe World Bank has integrated NBS in around projects across 60 countries to reduce flooding, coastal erosion, landslides, and droughts.

It is convened by 19 countries, guided by 33 commissioners, and supported by a global network of research partners and advisors, including the World Bank, who provide scientific, economic, and policy analysis. Transport The transport sector presently contributes about a quarter of global energy-related greenhouse gas emissions. Therefore, decarbonizing transport is crucial to helping countries meet the Paris agreement. At the same time, transport infrastructure is particularly vulnerable to extreme weather events, rising temperatures, and other environmental risks, all of which are being exacerbated by climate change.

To address these challenges, the World Bank supports an extensive range of climate-smart transport projects in developing and middle-income countries. Innovative solutions such as Electric Mobility will be instrumental in transitioning toward a greener, more sustainable transport sector.

The World Bank is helping countries around the world expand and upgrade their public transport systems. In Dakar, Senegal, it is working with partners to help develop a new transport system aimed at movingpassengers per day. The BRT project also lays the foundation for technology upgrades.

The objective is to ensure that the rural roads and bridges can withstand weather events such as floods or heavy rains, and to help improve road access for rural communities—even in the face of growing climate risk. Shifting freight traffic to the upgraded waterway will save an estimatedtons of CO2 emissions per year, amounting to 4.

While climate events can impact all aspects of life in SIDS, damage to transport infrastructure is of particular concern, as it can quickly paralyze economic life and impede recovery efforts. In a bid to enhance the overall climate resilience of SIDS, the World Bank has substantially increased assistance to the transport sector in many of these countries, with a clear focus on climate change adaptation.

In fact, a record eight transport projects have been launched in SIDS over FY19 —all of which have been designed with climate risk in mind. Although, in many cases, resilience provisions are a component of broader-scope transport projects, there has been an increasing number of projects dedicated entirely to climate risk—reflecting the strategic importance of the resilient transport agenda.

A good example is the Pacific Climate-Resilient Transport Program, a series of projects currently under implementation in SamoaTongaTuvaluand Vanuatuwith more countries expected to join the Program in a second phase.

The West Africa Agricultural Productivity Program WAAPa regional program involving 13 countries and multiple partners, helped develop climate-smart varieties of staple crops, such as rice, banana plantain and maize. Collaboration with cooperative and extension workers across West Africa helped deliver improved technologies including climate-smart crop varieties to farmers; provided climate-smart technologies such as post-harvest and food processing technologies; and trained farmers on climate-smart practices such as composting and agroforestry.

Farmers also gained access to technologies such as efficient water harvesting systems. As of Julythe project had directly helped more than 9. Several other countries are expected to finalize similar agreements in the coming months.

In Colombiacultivation of the cacay fruit is introducing profitable livelihood opportunities across the Orinoquia region. The potential for more stable and higher income streams from this tree, which grows natively along the base of the Andes mountains, can also motivate farming communities to further conserve the local environment. In Zambiaan innovative program has established over farmer field schools that are training more than 10, farmers on climate-smart agricultural practices that boost yields and help conserve forests.

The program aims to train more thanfarmers across nearly 60, hectares on how to adopt these approaches, improving both the environment and their ability to thrive in an age of climate change. The WBG is also transforming the way we do business, and helping these cities to mobilize the additional capital required for key strategic investments.

Urban resilience goes hand in hand with environmental sustainability. C4C engages diverse audiences and young people especially by popularizing climate issues through influential industries such as film, fashion, music and sports. In Depth. IDA and Climate Change IDA helps the poorest nations adapt to climate change by building their resilience to disasters, and promoting sustainable development to minimize their vulnerability.

Carbon Pricing Leadership Coalition CPLC The Carbon Pricing Leadership Coalition brings together leaders from across government, the private sector and civil society to share experience working with carbon pricing and to expand the evidence base for the most Forest Carbon Partnership Facility The Forest Carbon Partnership Facility is focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest Carbon Pricing Dashboard This interactive dashboard provides an up-to-date overview of carbon pricing initiatives around the world and allows users to navigate through the visuals and data of the annual State and Trends of Carbon Pricing report Additional Resources.

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