Developing nations hit hardest, least able to adapt. Zoellick report the World Bank will help by integrating climate change adaptation and mitigation into core development work, providing innovative and below-market rate financing, markets, technology and research. The TallEconomist salutes this approach, but asks if simply assuming climate change as a development risk is enough? I am keen to see the WB find innovative ways of leveraging the carbon credit that developing countires have - making their ecological space work for them. Can the WB give voice to these concerns at an international level? Can the WB be the developing nations' champion and not just its donor? Skeptically, I see nothing here that diverges from core World Bank work - I hope the reality of operationalising this programme in developing countries will yield the success the WB so sorely needs and doesnt backtrack on the promise the countries so heartily need.
Source: NYT Blogs, map: Distribution of Climate Change Risks, World Bank, October 2007, IDA and Climate Change: Making Climate Action Work for Development, mimeo.
Q. Citizens in developing countries are most vulnerable to the impacts of climate changes now in progress on a global scale. The changes in the weather patterns, from droughts to flooding, will affect the poorest in those countries. How is the World Bank dealing with the phenomenon of unprecedented climate change in its poverty reduction strategy, if at all?
Rita ChangHong Kong
A. Rita, you are correct. As you can see in the attached map, poor countries are much more likely to be affected by droughts, poor crop yields, floods, hurricanes and wind storms – likely consequences of climate change. Since 2000, poor countries have experienced three times more floods and twice as many wind storms than they did 20 years ago. And the poor people in these countries – people who live on less than $2 a day –are the most affected and least able to adjust. Climate change is not only an immense environmental threat; it is a core development and economic challenge.
This is why at the recent Bali conference on climate change, I outlined how the World Bank Group can support developing countries as they combine growth and development with protection of the environment.
How can the World Bank Group help?
• First, by integrating climate change adaptation and mitigation into core development work. Climate change policies cannot be the frosting on the cake of development. They must be baked into the recipe of growth and social development. We can help countries incorporate climate change and low-carbon plans into agriculture and land use policies, urban development strategies, water policies, transport plans and so forth.
• Second, we can help by providing innovative and below-market rate financing to promote investments both in low-carbon and adaptation projects. We already do this through the Global Environment Facility and Carbon Finance. We will do more thanks to donor governments contributing record sums to the latest replenishment of the International Development Association (IDA), the World Bank’s fund for the poorest countries. We will also work with donors to develop new funding innovations.
• Third, we will pioneer and advance new market and trading mechanisms, such as for carbon trading.
• Fourth, recognizing the vital importance of new technologies that can generate energy while limiting the impact on climate, we are working with partners on new financing and incentives schemes to facilitate technology deployment and transfer to developing countries. Some will involve alternative energy. But given the high use of coal in developing countries, it would help enormously if we could help develop and disseminate, for example, carbon sequestration technologies.
• Fifth, the sums involved are too large to handle with public funds, so we need to encourage policy changes to help create an enabling environment to tap resources from the private sector. IFC, the private sector arm of the World Bank Group, can help spur these investments.
• Sixth, we will work with developing countries to support policy research on climate change and development to help share information and tools for analyzing the impacts and developing cost-effective strategies. We are now working with six large countries on customized assessments of pathways to low-carbon growth.
• Finally, if we are able to advance these six activities, we should have the experience and knowledge to play a supportive role to the UN and the negotiating partners as they develop a new climate change agreement.
Let me give you a concrete example of how we are helping negotiators develop a post-Kyoto Protocol.
Deforestation and change in land use accounts for about 20 percent of global greenhouse gas emissions, and over a third of emissions from developing countries. In many developing countries, deforestation and forest degradation account for a majority of the carbon emissions. However, the Kyoto Protocol does not include a mechanism for rewarding reduced emissions from deforestation and degradation in developing countries: It rewards countries for planting trees, but does not encourage them to keep trees standing. So with the support of 10 donors, the World Bank has launched a Carbon Forest Partnership Facility. It will pilot incentives to communities for reducing emissions from deforestation while improving their livelihoods and safeguarding indigenous peoples. By highlighting this concept and showing a way to address it financially, the World Bank helped advance its inclusion in the framework that was agreed among negotiators at the Bali Conference.
I cannot end this entry without mentioning that the World Bank Group is carbon-neutral!
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